KB donates W1 billion for typhoon relief

Courtesy of KB Financial Group

By Lee Min-hyung

KB Financial Group will donate 1 billion won ($728,000) to support victims of Typhoon Hinnamnor, as part of efforts to fulfill its corporate social responsibility, the company said Tuesday.

The donated money will be used to purchase daily necessities for the victims, restore relief facilities and ensure residential safety of those left vulnerable, according to KB.

KB Kookmin Bank will also join the group-wide relief campaign by providing emergency relief kits and food trucks to those seriously affected by the typhoon.

KB customers can also take part in the donation campaign via mobile apps operated by the group's seven financial affiliates from Sept. 7 to 23.

The group's major subsidiaries ― such as KB Kookmin Bank, KB Insurance and KB Kookmin Card ― will also run an emergency financial support program to offer special loans or other financial benefits, including interest rate cuts, to the typhoon victims, KB said.

Victims can apply for KB Kookmin Bank's emergency loan product with a credit line of 20 million won for each person. Small business owners and the self-employed hit by the typhoon can also receive an interest benefit of up to 1 percentage point when applying for loans through the lender.

“We offer sincere words of consolation to those affected by the typhoon,” an official from the financial holding firm said. “We will spare no efforts in helping those living in typhoon-hit regions recover.”