446 firms joined first round with on-site, equipment and education support

Top performers to continue; 17 new supply firms sought for second phase

KB Financial Group's new headquarters building [KB Financial Group]
KB Financial Group's new headquarters building [KB Financial Group]

KB Financial Group and the Korea SMEs and Startups Agency are recruiting companies for the second phase of their joint SME Industrial Safety Infrastructure Support Project, which aims to prevent workplace accidents and improve working conditions at small and medium-sized enterprises.

KB Financial Group announced Thursday that it has wrapped up the first phase of the program — which ran for about three months starting in April with the Korea SMEs and Startups Agency — and is now seeking 17 additional supply firms for the second phase.

The program was designed to support small and medium-sized enterprises that struggle to build adequate workplace safety infrastructure due to cost burdens and a shortage of safety management personnel, while also identifying and nurturing supply companies with technology and systems in the industrial safety field. KB Financial Group is covering the entire project cost of 7 billion won ($5.06 million).

The first phase drew 446 companies in total, including 50 supply firms and 396 demand-side companies. KB Financial Group and the Korea SMEs and Startups Agency connected supply firms holding safety-related technologies and products with small businesses in need of safety improvements, providing on-site upgrades, safety equipment, and safety education and consulting.

The program operates on a performance-linked corporate social responsibility model, tying follow-on support to measurable outcomes. After the first phase, each supply firm's safety activities and on-site improvement results are evaluated; top performers will continue to receive support in the second phase, while underperforming firms will be dropped from the program.

For the second phase, 17 additional supply firms will be selected to bring new industrial safety technologies and solutions into the program. Selected companies will have the opportunity to apply their technologies and products at small business worksites, while companies lacking safety infrastructure will be matched with solutions suited to their specific needs.

Applications for the second phase are open from Tuesday through Sept. 4. Details on eligibility and how to apply are available on the Korea SMEs and Startups Agency website.

Kim Jin-wook, chief executive of Hi-El Co., one of the on-site improvement firms from the first phase, said cost pressures make it difficult for small businesses to build safety systems in the field. "This program has been a great help not only in identifying blind spots in workplace safety but also in raising workers' safety awareness," he said.

A KB Financial Group official said corporate social responsibility efforts must go beyond measuring how much was spent and verify what changes were actually made on the ground. "Going forward, KB Financial Group will continue working with the Korea SMEs and Startups Agency to reduce safety blind spots at small business worksites and help create an environment where workers can do their jobs with peace of mind," the official said.

Meanwhile, KB Financial Group continues to support small and medium-sized enterprises through AI transformation, green transition and safety transition initiatives aimed at strengthening their competitiveness. The group is also expanding impact investment targeting community-based social enterprises.


rim@heraldcorp.com