KB Financial Group said Thursday it generated 834 billion won ($563 million) in social value in the second quarter through inclusive finance initiatives and corporate social responsibility activities.
The cumulative total for the first half of the year reached 1.66 trillion won, up from 1.59 trillion won in the same period last year.
KB Financial said the figure reflects not simply costs incurred, but the result of objectively measuring real-world changes created for society and concentrating support in areas of highest social demand.
The results particularly capture efforts to build a sustainable growth foundation for youth, small and medium-sized enterprises and local communities, as well as contributions to public safety and everyday recovery through support for financially vulnerable groups and stronger social safety nets.
Representative programs include tailored financial support and credit-recovery programs for financially vulnerable customers, and financial counseling and psychological recovery services for victims of financial crime. Through its KB Youth Future Savings account, the group helps young people build assets over the medium to long term, while job-matching programs — including the KB Good Job employment fair — are expanding connections between youth and quality small and medium-sized enterprises.
KB Financial publicly discloses its social value performance — a monetary assessment of the positive impact its ESG (environmental, social and governance) activities have had on society — to communicate with a broad range of stakeholders, including customers, shareholders, investors and local communities.
A KB Financial official said, "Going forward, we will continue to expand support, based on our measurement results, for youth, small and medium-sized enterprises, local communities, financially vulnerable groups and public safety, putting into practice a form of finance that grows together with society."
ehkim@heraldcorp.com
