Fund accumulated through issuance and use of Busan Education Love Card; to cover holiday meals and other welfare costs for low-income students

The Busan Metropolitan Office of Education and BNK Busan Bank hold a fund handover ceremony at the education office Tuesday. [Busan Metropolitan Office of Education]
The Busan Metropolitan Office of Education and BNK Busan Bank hold a fund handover ceremony at the education office Tuesday. [Busan Metropolitan Office of Education]

The Busan Metropolitan Office of Education and BNK Busan Bank held a fund handover ceremony at the education office Tuesday afternoon, transferring 750 million won ($542,000) accumulated through the use of the Busan Education Love Card last year. Superintendent Kim Seok-jun, BNK Busan Bank President Kim Seong-ju and Deputy President Lee Ju-hyeong attended the event.

The fund has been built up under an agreement the two institutions signed in April 2004 to support meal costs for children from low-income families. Under the arrangement, 5,000 won is set aside each time a Busan Education Love Card is issued, and a fixed percentage of card spending — 0.3 percent for individual cardholders and 0.6 percent for corporate cardholders — is added to the fund.

BNK Busan Bank has transferred the annually accumulated fund to the education office every year since 2004, and the office has used the money to cover holiday meal costs and other expenses for low-income children at risk of going without food.

The two institutions plan to continue accumulating the fund through Busan Education Love Card usage and directing it toward welfare costs, including holiday meals for children from low-income households.

"I am grateful to BNK Busan Bank for its continued support for the welfare of low-income children despite the difficult economic environment at home and abroad," Superintendent Kim said. "We will do our utmost to ensure that educationally vulnerable students have stable access to learning opportunities."


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