KB Financial Group expands tailored financial support for gig workers

KB Financial Group is launching a comprehensive financial support initiative for gig workers — delivery riders, designated drivers, content creators and other workers with irregular income — as the platform economy continues to grow. The effort aims to improve access to mainstream financial services and advance inclusive finance for this emerging segment of the workforce.

KB Financial Group announced Tuesday that it will build a group-wide "gig worker financial ecosystem" starting July 1, with major subsidiaries including KB Kookmin Bank, KB Kookmin Card and KB Insurance all taking part. The products and services are designed to reflect the income patterns and economic characteristics of platform workers.

Kookmin Bank will lead the offering with a dedicated account, loan products and a mobile phone plan tailored to gig workers' income structures.

The "KB Free N Account" is designed to help customers manage platform settlement payments and other irregular deposits more systematically. An income-tracking feature lets users easily review incoming transactions, and the account offers a preferential interest rate of up to 1.4 percent on average balances up to 2 million won ($1,300) per settlement period. Irregular income will also be recognized as qualifying salary transfers under the KB Star Banking salary club service, giving gig workers the same financial benefits as regular payroll customers.

Earlier this month, Kookmin Bank launched a "Zero Wage Theft Instant Transfer Service" to help gig workers and daily laborers receive their wages reliably and on time.

Within the third quarter, the bank plans to offer microfinance for young gig workers in partnership with the Korea Inclusive Finance Agency. The product will provide up to 5 million won toward the purchase of delivery motorcycles, scooters and electric bicycles. Borrowers who buy eco-friendly two-wheelers or complete a financial education course will receive preferential interest rates and other benefits.

The bank also plans to continue incorporating non-financial alternative data and machine learning-based credit assessment models into its loan screening process, taking into account the limited financial transaction histories of "thin filer" customers.

A dedicated mobile plan through KB Liiv Mobile will be introduced for delivery platform riders. Reflecting the heavy data consumption that comes with constant use of map and delivery applications, the bank will offer two high-capacity plans at competitive base rates. Riders will also receive tailored perks including fuel coupons, device purchase support and voice phishing prevention services.

KB Kookmin Card will launch a dedicated debit card built around the spending patterns and lifestyle of gig workers who are frequently on the move. The "KB On the Go" debit card offers discounts on fuel, telecommunications and food and beverage purchases, as well as discounts on auto and motorcycle insurance premiums through KB Insurance for delivery platform riders.

KB Insurance has been running a "rider safety education discount" since June 26, offering a 5 percent discount on auto insurance premiums to motorcycle delivery drivers who complete an online safety course through the Korea Occupational Safety and Health Agency.

"Gig workers are a new economic force driving the platform economy and digital transformation, and an important customer segment for the future of finance," a KB Financial Group official said. "Through tailored financial services that reflect diverse income types and economic activities, we will broaden the reach of inclusive finance and build a financial ecosystem that grows alongside our customers."