KB Kookmin Bank on Thursday held the Small Business POP-UP FESTA to support small business owners at Hyundai Department Store’s Pangyo branch in Seongnam, Gyeonggi province.

The event is a social contribution project 마련된 as part of a strategic agreement signed in October by KB Financial Group and Hyundai Department Store Group to build a financial and distribution synergy cooperation model. KB Kookmin Bank and Hyundai Department Store provide small business owners with opportunities to run pop-up stores at Hyundai Department Store to support wider sales channels and tangible revenue growth.

The pop-up store will operate for a week through Jan. 22 at the event venue on the basement level of the Pangyo branch. It was designed to allow small business owners with strong products and ideas to meet department store customers directly and expand sales channels.

In particular, KB Kookmin Bank will fully cover costs needed to operate the pop-up store so small business owners can focus on sales without cost burdens. Hyundai Department Store will lower sales commissions for participating small business owners to seek tangible sales growth. The organisers expect the initiative to practise inclusive finance spanning financial and non-financial areas and contribute to strengthening the foundation for small business owners’ self-reliance.

A KB Kookmin Bank official said, "I hope this pop-up store will serve as an opportunity to provide small business owners with a better sales environment and new opportunities." The official added, "We will continue to listen to the voices of small business owners and carry forward our social responsibility for shared growth through field-oriented support."