KB Financial Group will provide financial support worth a total of 6.9 trillion won this year for young people, low-income and vulnerable groups, and small merchants and the self-employed.

KB Financial said on June 29 it will 추진 tailored financial support worth a total of 6.9 trillion won this year through its “KB National Happiness Hope Project.”

KB Financial will supply productive and inclusive finance worth a total of 110 trillion won by 2030, including 97 trillion won in productive finance and 17 trillion won in inclusive finance over five years. Of that, it will provide 3 trillion won in inclusive finance, 350 billion won in private mid-interest-rate loans and 45 billion won in write-offs of delinquent debt through the Hope Project this year.

First, KB Financial will supply about 3 trillion won in inclusive finance to help low-income and vulnerable groups, and small merchants and the self-employed, restart, grow and build assets. It will lower interest rates on loans for low-income borrowers such as Saehuimang Holssi, and support credit recovery by reducing debts for young people and socially disadvantaged borrowers by up to 90 percent of principal.

It will supply private mid-interest-rate loans worth a total of 3.5 trillion won. Major affiliates including KB Kookmin Bank, KB Kookmin Card, KB Capital and KB Savings Bank will expand related products to improve financial access for mid- to low-credit customers.

KB Kookmin Bank plans to supply 1.53 trillion won in private mid-interest-rate loans this year. KB Kookmin Card, KB Capital and KB Savings Bank also plan to provide about 2 trillion won in mid-interest-rate loans.

It will also move to write off delinquent debt. KB Financial will proactively write off about 45 billion won in delinquent debt this year to ease the debt burden of financially vulnerable groups struggling with long-term delinquencies.

It wrote off about 13.7 billion won in delinquent debt in the first half of this year, and will additionally write off about 15 billion won in the second half, including long-term delinquent debt and small-amount long-term delinquent debt. KB Kookmin Card, KB Capital and KB Savings Bank also plan to write off delinquent debt worth about 16 billion won in the second half.

It will also strengthen support for young people. KB Financial plans to launch “Youth-only Saehuimang Holssi II” within this year to provide funding of up to 5 million won for young people aged 34 and under. It will offer preferential benefits such as interest-rate cuts to borrowers who repay faithfully and those who complete financial education.

In the third quarter, it plans to provide microfinance for young delivery platform workers in cooperation with the Korea Inclusive Finance Agency. It will support purchases of delivery motorbikes with up to 5 million won, and offer preferential interest rates to buyers of eco-friendly motorbikes and those who complete financial education.

A KB Financial official said, “We have been a reliable partner so that young people, vulnerable low-income groups and small merchants can make a new leap forward.” The official added, “We will practice finance that grows and coexists with the public based on trust.”