KB Financial Group announced on June 29 that it will launch a tailored financial support program totaling 6.9 trillion won this year. Through the "KB National Happiness Hope Project," the group plans to implement 3 trillion won for inclusive finance, 3.5 trillion won for private mid-rate loans, and 450 billion won for proactive delinquent loan write-offs, aimed at assisting young people, low-income individuals, vulnerable groups, and small business owners in their economic recovery and self-sufficiency.
To promote inclusive finance, KB Financial will lower interest rates on loans such as the New Hope Seed Loan, reducing the burden on customers. The group will also provide debt relief of up to 90% on principal for vulnerable borrowers, including young people and socially disadvantaged individuals, to help them restore their credit and re-enter the formal financial system. In March, KB Financial launched the "KB National Leap Loan," allowing self-employed individuals and freelancers to refinance their credit loans from secondary financial institutions at lower rates.
KB Kookmin Bank plans to supply 1.53 trillion won in private mid-rate loans this year. In the first quarter alone, it provided 306.8 billion won to mid- and low-credit borrowers, the highest amount among major banks, accounting for nearly half (about 48%) of the total supply from the four largest banks. KB Kookmin Card, KB Capital, and KB Savings Bank also plan to offer 2 trillion won in mid-rate loans to meet the funding needs of mid-credit customers.
Additionally, KB Kookmin Bank has written off 137 billion won in delinquent loans in the first half of the year and plans to write off an additional 150 billion won in long-term delinquent loans and small long-term delinquent loans in the second half. Other affiliates also plan to write off 160 billion won in delinquent loans in the latter half of the year.
A KB Financial representative stated, "We will continue to promote inclusive finance to ignite a new spark of hope for more people."
* This article has been translated by AI.
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