The Saemaul Geumgo Federation said on Wednesday it has completed sales of its MG Hope Sharing Baby Snake savings product, a social contribution financial product launched in April last year to support efforts to address low birth rates.

The Baby Snake savings product is a one-year fixed-deposit savings product introduced with a limit of 50,000 accounts. Sales were to end the day after sales exceeded 49,000 accounts. Sales closed at 49,803 accounts, a 99.6 percent sales rate.

A Saemaul Geumgo official said the product generated contracts worth 114.1 billion won and interest totalling 6.44 billion won is scheduled to be paid to subscribers this year when the deposits mature.

Saemaul Geumgo also launched Kkangchong Savings and Yongyong Savings in 2023 and 2024 as financial products to address low birth rates. It paid a total of 10.66 billion won in interest to 35,039 subscribers and 49,563 subscribers, respectively.

Kim In, chairman of the Saemaul Geumgo Federation, said Saemaul Geumgo will continue efforts to solve social problems in 2026, including supporting newborns and revitalising local commercial districts, and plans to identify various support programmes for a vibrant tomorrow. He said it will fulfil its responsibilities and role as a regional lender for low-income residents and contribute to forming a sustainable community.