KB Kookmin Bank Launches Financial Product Package Exclusively for Young People

KB Kookmin Bank announced on July 10 the launch of the KB Youth Financial Product Package, a social contribution product for young people’s stable financial life as members of society.

The package is composed of three products — KB Youth Takeoff Account, KB Youth Takeoff Public Interest Trust, and KB Youth Takeoff LTE Plan.

KB Youth Takeoff Account is a product that provides government contributions and tax-free benefits to people aged 19 to 34, who meet individual and household income requirements.

Young people can apply for membership and open an account through KB Star Bank. The contract period is 60 months.

Buyers of this package can freely save up to 700,000 won per month.

The basic interest rate is 4.0 percent per annum, with a maximum interest rate of 6.0 percent per annum if preferential conditions such as payroll deposits and automatic transfers are met.

KB Youth Takeoff Public Interest Trust is a product that donates 10 percent of the fee paid to the bank in the name of the customer if the customer agrees to donate when signing up for the trust product, and the bank donates the same amount.

It provides up to 200 million won in donations to support temporary housing and living expenses for young people who are preparing to become independent from their parents.

KB Youth Takeoff LTE Plan offers reasonable mobile service charges to lower communication costs for young people.

Any young people between the ages of 19 and 36 can sign up for the plan which provides unlimited data, voice, and text services.

5th Future Finance A.I. Challenge

KB Kookmin Bank announced that it will hold the 5th Future Finance A.I. Challenge.

The competition is designed to secure future finance ideas utilizing artificial intelligence and fuel talented people’s interest in financial artificial intelligence.

It is sponsored by the Financial Supervisory Service (FSS), Ewha Womans University, Naver Cloud and the LG AI Research Institute.

A total of six teams will be awarded the Grand Prize, the FSS Award, and special prizes under the theme of “Solving Problems and Creating Value by Utilizing AI Technology in the Financial Industry.”

The total prize money is approximately 27 million won and the five excellent teams will be exempted from reviews of job application documents when applying for jobs in the IT and data divisions of KB Kookmin Bank.

College and graduate school students born after 1994 can participate as individuals or as teams of up to three people, and can apply for participation and submit their work on the KB Datory Website until August 20.

The main competition will be held as the second part of the 2023 Change the World with Green Finance International Conference and MZ Youth Job Fair at Ewha Womans University on August 31.

Choi Jae-young, deputy head of the WM Customer Group at KB Kookmin Bank poses for a photo with Kim Seong-wook, an official of the Yonsei University Medical Center in a ceremony for an inheritance donation agreement on July 13. (Photo: KB Kookmin Bank)

Donation Trust Agreement with Yonsei University Medical Center

KB Kookmin Bank announced on July 14 that it has signed a business agreement with the Yonsei University Medical Center to spread a culture of inheritance donation using trusts.

Through this business agreement, KB Kookmin Bank and the Yonsei University Medical Center will set up a close cooperation system to rev up the heritage donation culture.

KB Kookmin Bank will provide customized donation program designs and financial solutions that fit donors’ asset types using the KB Great Inheritance Donation Trust.

KB Great Inheritance Donation Trust is a product that allows donors to place property such as money and real estate in trust with the bank, manage their trusted property during their lifetime, and donate the property to donor organizations such as schools and hospitals in accordance with the trust agreements after their death.

KB Kookmin Bank provides consulting from legal and tax experts to design optimal donation trusts based on donors’ needs.

Through customized financial solutions, donors can enjoy both asset management and donation goals.

The Yonsei University Medical Center will put donations to good use for projects for medical support, the advancement of medical science, and the training of medical personnel among others.