Joins 'Life-Saving Finance Relay Campaign'

Nominates KB Life Insurance CEO as next participant

KB Kookmin Bank CEO Lee Hwan-joo [KB Kookmin Bank]
KB Kookmin Bank CEO Lee Hwan-joo [KB Kookmin Bank]

KB Kookmin Bank CEO Lee Hwan-joo said Monday that the bank would take the lead in practicing and expanding inclusive finance as a steadfast partner for financially vulnerable groups.

Joining the "Life-Saving Finance Relay Campaign" that day, Lee said he takes seriously the growing number of people struggling with illegal private lending and excessive debt.

The campaign is a public-interest initiative launched by the Korea Inclusive Finance Agency in July to raise awareness of the dangers of illegal private lending and build broader social attention around protecting financially vulnerable groups.

Financial institutions and public institutions have been taking part in the campaign. Nominated by Hana Bank CEO Lee Ho-seong, Lee in turn named Jeong Mun-cheol, CEO of KB Life Insurance, as the next participant.

In August, KB Kookmin Bank ran a campaign called "National Hope Road: Watch Out for Debt" to help prevent financially vulnerable customers and young people from falling victim to illegal private lending.

As part of the effort, the bank placed stickers bearing the contact information for its KB Hope Finance Center over illegal loan advertisements posted on sidewalks, alerting passersby to the risks of unlicensed lending and directing customers in debt distress to safe financial support channels.

Over the Chuseok holiday, the bank delivered daily necessities purchased from more than 70 traditional markets across the country — including Yeongdeungpo Traditional Market in Yeongdeungpo-gu, Seoul — to welfare facilities and 14,000 households in need.


hyuk@heraldcorp.com