KB kookmin bank donates 10 billion won to support vulnerable borrowers

KB Kookmin Bank donated 10 billion won on November 4 to launch the Credit Build-up Interest Support Project in South Korea.

People who receive loans from participating lenders can apply for the program. These lenders are selected from a list of excellent microfinance lenders identified by the Financial Supervisory Service. Borrowers who meet specific requirements, such as avoiding loan defaults for more than 6 months, can receive a subsidy covering half of their interest payments for one year.

This support covers up to 1 million won per person. The bank expects the initiative to reduce the interest burden for approximately 10,000 people.