KB Financial Group Launches 10 Billion Won Mutual Growth Fund

KB Financial Group is bolstering the future competitiveness of SMEs and small business owners by establishing a 10 billion won 'Mutual Growth Cooperation Fund'. This fund will be used to support business transitions such as adopting artificial intelligence (AI), eco-friendly shifts, and safety enhancements, and will also be utilized for investments to revitalize local economies. KB Financial announced these support plans on the 5th at a fund contribution ceremony held with the Ministry of SMEs and Startups and related institutions. Yang Jong-hee, Chairman of KB Financial Group, stated that the fund was established to support the enhancement of future competitiveness for SMEs and small business owners and the growth of local communities.

KB Financial will invest 2 billion won in the AI Transformation (AX) sector to support local manufacturing companies in adopting AI-based digital solutions, and to provide small business owners with smart order systems and marketing solutions based on customer data analysis. A total of 3 billion won will be allocated to the Green Transformation (GX) sector, offering climate finance education and consulting on compliance with the Korean Green Taxonomy for SMEs. The Safety Transformation (SX) sector will receive 2 billion won, earmarked for consulting to expand sales channels for SMEs holding safety technologies, and for AI CCTV, sensor-based safety detection systems, and industrial safety consulting for small and micro-businesses. Chairman Yang Jong-hee reiterated that the fund was created to help SMEs and small business owners enhance their future competitiveness and grow together with their local communities through AI, green, and safety transformations. Through this initiative, KB Financial has acted as an innovation partner for businesses by combining technology with financial support.

KB Financial will contribute 3 billion won to a mutual growth cooperation fund-of-funds (MOF) to foster local community-based social economy enterprises and social ventures. This investment marks the first time the mutual growth cooperation fund has invested in a venture fund. The fund will invest in companies that generate social value, such as revitalizing local economies, creating jobs, and supporting vulnerable populations. Expanding investments in social economy enterprises through the MOF is a model that builds a long-term regional economic support system rather than simple donations.

Han Seong-sook, Minister of SMEs and Startups, expressed her hope that KB Financial's contribution will serve as a catalyst for spreading a culture of mutual cooperation within the financial sector. Minister Han emphasized the importance of cooperation among large enterprises, SMEs, and financial institutions amidst changing industrial environments, and voiced her expectation that KB Financial's contribution will serve as a catalyst for spreading a culture of mutual cooperation within the financial sector.