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Finance

KB Financial steps up consumer protection across product and service lifecycle

KB Financial Group is moving to strengthen its financial consumer protection framework across group affiliates and boost the expertise of related organisations. It held its third consumer protection working-level council on Aug. 24, bringing together chief consumer protection officers from 10 affiliates including KB Kookmin Bank, KB Securities and KB Insurance. Participants discussed consumer-focused product and service operations, stronger organisational expertise and refinements to KB Kookmin Bank’s consumer protection quality index.

Finance

Four major financial groups pledge 2 billion won for South Gyeongsang flood recovery

South Korea\'s four major financial holding groups - KB, Shinhan, Hana and Woori - will each donate 500 million won to support recovery from heavy rain damage in parts of South Gyeongsang province including Geoje and Tongyeong. The groups are also rolling out financial support through affiliates, including emergency living funds, loans for small businesses and SMEs, deferrals of card payments and insurance premiums, and interest rate concessions.

Fintech

KB Kookmin Bank launches \'KB Card Sseudam Savings\' offering up to 12.0 percent

KB Kookmin Bank introduced a savings product that offers an interest rate of up to 12.0 percent a year for customers who meet conditions tied to KB Kookmin Card usage and bank transactions. The \'KB Card Sseudam Savings\' is a six-month product with monthly deposits from 10,000 won to 300,000 won. It will sell 100,000 accounts on a first-come, first-served basis. The base rate is 2.0 percent before tax as of Aug. 21.