Search results for New Start Fund
Finance
KB Kookmin Bank expands \'KB Hope Finance Center\' nationwide to support vulnerable groups
KB Kookmin Bank said it has expanded its \'KB Hope Finance Center\' from Seoul and Incheon to major hubs nationwide, including Daegu, Daejeon and Busan. The centres support vulnerable customers by providing debt adjustment and credit counselling services. The bank said the centres also guide customers on debt relief systems and policy finance products, including options to switch from high-interest loans. It also introduced an AI agent to strengthen counselling support.
Finance
KB Kookmin Bank steps up inclusive finance with debt workouts, counselling and rate cuts
KB Kookmin Bank said on Thursday it is strengthening inclusive finance to help vulnerable groups recover quickly. The bank expanded eligibility for its in-house debt adjustment programme to delinquent borrowers with loans of up to 50 million won and expects more than 4,000 additional customers to benefit. It also set up a dedicated debt workout counselling organisation, launched mobile applications for debt adjustment, opened KB Hope Finance Centers in Seoul and Incheon, and has provided psychological counselling since November. The bank also cut rates on key retail finance products.
Finance
Korean banks complete 360 billion won contribution to New Start Fund
The Korea Federation of Banks said on Jan. 1 that the banking sector has completed paying 360 billion won in contributions to the New Start Fund, an initiative aimed at providing socially vulnerable people with a chance to recover. All 20 domestic banks took part to help long-overdue small business owners and vulnerable groups. The 360 billion won contribution exceeds 80 percent of the 440 billion won in total private funding, it said.