KB Kookmin Bank announced on Sept. 29 that it signed a strategic memorandum of understanding with the Bank of New York Mellon Corporation (BNY) to bring innovation to cross-border digital asset settlement and remittance services.
A signing ceremony for the MOU was held at the Miami Beach Convention Center in Florida, the venue for SIBOS 2026, a global financial services industry event hosted by SWIFT with the participation of representatives from both companies including Baek Ki-hyun, head of KB Kookmin Bank’s Foreign Exchange Business Group, and Jennifer Barker, head of Global Payments and Trade Finance at BNY on Sept. 28.
The agreement was established to respond to digital transformation trends in the global financial market and to build a cooperative framework for expanding global payment services.
On Sept. 28, Baek Ki-hyun (third from left), head of the Foreign Exchange Business Group at KB Kookmin Bank poses for a photo with Jennifer Barker (fourth from left), head of Global Payments and Trade Finance at BNY in a ceremony held in honor of signing a strategic MOU aimed at innovating cross-border digital asset settlement and remittance services at the Miami Beach Convention Center in Florida of the US, during SIBOS 2026, an annual global financial services industry event hosted by SWIFT.
The two companies aim to enhance the convenience of overseas remittance services for foreign customers.
KB Kookmin Bank plans to provide tailored overseas remittance services to foreign nationals and international students by leveraging BNY’s global payment network and “pay to wallet” capabilities.
Additionally, the two companies will collaborate by integrating their respective global networks and expertise in foreign exchange and payment services to improve cross-border payment experiences for customers.
“KB Kookmin Bank has laid the foundation for cooperation in overseas payment innovation with a trusted global partner,” a KB Kookmin Bank official said.
“Moving forward, we will lead financial innovation by providing differentiated digital financial services in areas such as digital payments, digital assets, and next-generation financial infrastructure.”
BNY is the oldest bank in the United States established in 1784.
The American lender is the world’s largest custodian bank. In 2024, it changed its corporate name from “BNY Mellon” to “BNY.”
SIBOS is a global financial conference hosted annually by the Society for Worldwide Interbank Financial Telecommunication.
KB Joy Olympic Park Festival 2026
KB Kookmin Bank successfully hosted the KB Joy Olympic Park Festival 2026 at the 88 Lawn Field in Seoul’s Olympic Park on Sept. 19 and 20, drawing an audience of approximately 20,000 people.
The KB Joy Olympic Park Festival is KB Kookmin Bank’s signature youth festival which connects with customers and offer new experiences through music and cultural content.
This year’s event was hosted jointly by the Korea Sports Promotion Foundation and co-organized by Korea Sports Industry Development and KB Kookmin Bank.
It featured a variety of interactive programs and activities alongside musical performances, allowing the audience to enjoy the festival in diverse ways.
Artists spanning various genres performed on the main stage over the two-day event.
The lineup on Sept. 19 included Zico, Simon Dominic, Chungha, Hong Isaac, Jung Seung-hwan, So Soo-bin, and g0nny, while the Sept. 20 event featured performances by Epik High, Roy Kim, 10CM, Soran, BOL4, Kim Nam-gil, moyo, Stella Jang and the Far East Asia Tigers.
This year, performances by up-and-coming artists were held at the Olympic Park Waterfront Stage in addition to the Main Stage. A total of eight teams performed over the two days.
The stage was open to the general public without a need for tickets, providing an accessible musical experience and exciting time for citizens.
The organizers offered various interactive programs including photo zones and booths where attendees could experience financial services offered by KB Financial Group affiliates in addition to the performances.
“KB Good Food Truck” and “KB Flea Market” benefiting small business owners were also available, offering a wide array of food and merchandise.
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