KB Financial Group signed a memorandum of understanding (MOU) to pay a total of 50 billion won for five years for the development of the Neulbom School and a school child care system with the Ministry of Education.
At the event were Lee Joo-ho, deputy prime minister and minister of education and Yoon Jong-kyu, chairman of KB Financial Group in Yeouido, Seoul on Feb. 20. The deal is for the years 2023 to 2027.
Since 2018, KB Financial Group has been cooperating with the Korean Ministry of Education to help Korea overcome its low birth rate caused by career interruptions, high education costs, which cause burdens on families with children.
As a result, the financial group contributed to the establishment of a nationwide all-day care system by opening childcare centers.
KB Financial Group and the Ministry of Education will develop Neulbom School and elementary schools’ childcare system, which are national tasks, by creating a nice environment to raise children over the next five years.
First of all, KB Financial Group will concentrate its capabilities on expanding base-type childcare institutions, one of the main projects of Neulbom School.
Base-type childcare institutions, a new model for meeting demand for childcare at the local level, provide integrated care and after-school classes to students who need care within such bases so parents can safely leave their children with childcare workers until 8 pm on weekdays and 1 p.m. on Saturdays. The program is available even during vacations.
In addition, various after-school programs such as educational, cultural, music, sports, and IT classes and course will help students not only improve their academic capabilities but also provide environments for hobbies and self-development suitable for individual characteristics.
Moreover, KB Financial Group will provide Neulbom School with after-school economic and financial education programs where students can learn economic and financial knowledge in an easy and fun way.
“I hope that cooperation between the Ministry of Education and KB Financial Group will make Neulbom School a nice learning center and a happy playground for children,” KB Chairman Yoon Jong-kyu said.
“As a corporate citizen of the world, KB Financial Group will do its best to solve social problems by actively taking the lead in taking care of and fostering future generations.”
KB Financial Group affiliates are making various efforts to become leaders of future generations. For example, KB Kookmin Bank opened 108 small libraries across the country.
KB Financial Group held the 2023 KB Real Estate Roundtable on Feb. 21 at the Federation of Korean Industries (FKI) Headquarters Building on Feb. 21.
The real estate seminar was held to share opinions on the outlook for the housing market in 2023 and the establishment of policies based on forecasts.
The seminar, which was held under the theme of “Is a Soft Landing Possible for the Korea housing Market,” was live streamed on KB Financial Group’s official YouTube channel.
Dr. Kang Min-seok, a researcher at KB Financial Group’s Management Research Institute, made a presentation on “Examining the Possibility of a Soft Landing in the Housing Market.”
Kang said that a housing market correction will be inevitable in the future, and that a soft landing with repeated declines and rises is more likely than a hard landing. Kang added that unsold houses are expected to increase for the time being, but not to reach the financial crisis level.
“The current housing market is suffering a steep decline in transactions and an increase in the number of unsold units due to external environmental factors such as high interest rates, high prices, and low growth,” said Dr. Heo Yoon-kyung of the Korea Institute of Construction Industry, who spoke on “Policy Directions for Stabilizing the Korean Housing Market.”
“To solve this problem, we need to develop and promote private temporary housing projects and make efforts to distribute the risk of real estate PFs.”
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