Press

KB Kookmin Bank announced on the 3rd that it will implement a program for supporting the growth of social innovation startups, including donation transfers and talent donations from employees. The program is led by Underdogs, a specialized institution for cultivating social entrepreneurs, and conducted in cooperation with Korea Social Investment, the nation's first private social finance foundation. A social enterprise is a new concept of business that integrates the social characteristics of charity with the profitability of enterprises. These companies provide social services or jobs to vulnerable groups and conduct profit-making activities with emphasis on social value, such as improving the quality of life for local residents. In this 'Social Innovation Startup Development Project,' in addition to donation transfers, talent donation activities by senior KB Kookmin Bank employees, such as financial consulting, will be added to support business capability strengthening for social innovation startups that need management expertise. To this end, startup companies in their third year or beyond that pursue social value will be selected, and financial coaches composed of KB Kookmin Bank employees will be matched one-on-one considering the characteristics of each company's business area. Sung Chae-hyun, head of the Consumer Brand Strategy Group, said, "Social enterprises are the driving force for creating a better world, and financial expertise is essential for the company's sustainable management. We expect that the synergy created between the young generation with ideas and passion and the expertise and experience of KB Kookmin Bank employees will become a stepping stone for company growth."