KB Financial Group is setting up a tailored financial support system for gig workers, including delivery riders, designated drivers, logistics workers and creators.

KB Financial said on Monday it will provide exclusive financial products and services for gig workers in stages from July 1.

Gig workers refer to people engaged in economic activity who take on jobs through platforms and receive compensation. KB Financial plans to build a support system linking its banking, card and insurance affiliates, saying gig workers are emerging as a new customer group as the platform economy grows.

KB Kookmin Bank will first launch a dedicated account for gig workers called the "KB Free N Account". It is designed to manage income deposited frequently, such as platform settlements. It offers an income-box feature to check deposit details and a special interest rate of up to 1.4 percent a year on average balances of up to 2 million won during the settlement period.

It will also reflect irregular income in preferential financial benefits. KB Kookmin Bank plans to recognize platform settlements as salary performance under its "KB Star Banking Salary Club" service, and provide the same preferential benefits as for customers who receive salary transfers.

It is also preparing microfinance for young delivery platform workers. KB Kookmin Bank plans to work with the Korea Inclusive Finance Agency in the third quarter of this year to support purchases of delivery motorcycles with up to 5 million won in funding. It will also offer preferential interest rates to buyers of eco-friendly motorcycles and those who complete financial education.

It will also launch a dedicated KB Liiv Mobile rate plan for delivery platform riders. Reflecting customer characteristics of heavy data use from map services and delivery apps, it will introduce 2 high-capacity plans. It will also provide fuel coupons, support for device purchases and a voice phishing prevention service.

KB Kookmin Card will launch the "KB On the Go Check Card" reflecting the spending patterns of gig workers who move around frequently. Along with discounts on fuel, telecom bills, and food and beverages, it will offer discounts on car and motorcycle insurance premiums for delivery platform riders.

KB Insurance is operating a "Rider Safety Education Discount Rider" to help spread a safe-driving culture among motorcycle delivery workers. It offers a 5 percent discount on auto insurance premiums for motorcycle delivery drivers who complete online safety education from the Korea Occupational Safety and Health Agency.

A KB Financial official said, "Gig workers are a new economic player leading the platform economy and digital transformation, and an important future customer group for finance." The official added, "We will broaden the base of inclusive finance through tailored financial services that reflect diverse forms of income and characteristics of economic activity."