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KB Kookmin Bank launches 10 billion won interest support program
KB Kookmin Bank has announced the Credit Build Up interest support program, a 10 billion won initiative designed to alleviate the financial burden on vulnerable borrowers using money lenders. The bank will donate the full 10 billion won to the Social Solidarity Bank (Together Making the World) to fund the program.
The program targets customers of outstanding money lending companies selected by the Financial Supervisory Service. To qualify, borrowers must have made on-time payments for at least six months and meet specific income requirements. Eligible participants can receive support for up to 50 percent of their normally paid interest, capped at 1 million won per person for a maximum of one year.
Recipients are required to complete online financial education provided by the Financial Supervisory Service and the KB Financial Public Interest Foundation. The program is managed by the Social Solidarity Bank, which coordinates with participating lenders to handle selection, verification, and payments directly to the customers. The bank expects approximately 10,000 people, representing about 100 billion won in total loans, to benefit from this initiative.
Entities
Financial Supervisory Service · KB Financial Public Interest Foundation · KB Kookmin Bank · Social Solidarity Bank
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] The 10 billion won will be donated to the Social Solidarity Bank (Together Making the World). www.sportalkorea.com · socialvalue.kr · www.joseilbo.com
- [● 3 SOURCES] The program is expected to benefit approximately 10,000 people. www.sportalkorea.com · socialvalue.kr · www.joseilbo.com
- [● 3 SOURCES] The total loan volume affected is estimated at 100 billion won. www.sportalkorea.com · socialvalue.kr · www.joseilbo.com
- [● 3 SOURCES] The Social Solidarity Bank is responsible for the entire program operation. www.sportalkorea.com · socialvalue.kr · www.joseilbo.com
- [● 3 SOURCES] Eligible borrowers can receive up to 50 percent of their interest, capped at 1 million won per person. www.sportalkorea.com · socialvalue.kr · www.joseilbo.com
- [● 3 SOURCES] KB Kookmin Bank is implementing a 10 billion won Credit Build Up interest support program. www.sportalkorea.com · socialvalue.kr · www.joseilbo.com
- [● 3 SOURCES] Borrowers must have no delinquencies for at least 6 months to qualify. www.sportalkorea.com · socialvalue.kr · www.joseilbo.com
- [● 3 SOURCES] Participants must complete online financial education from the Financial Supervisory Service and KB Financial Public Interest Foundation. www.sportalkorea.com · socialvalue.kr · www.joseilbo.com