KB Insurance holds chuseok traditional market charity event with FSS

KB Insurance announced Monday that it held a chuseok traditional market charity event ahead of the holiday in partnership with the Financial Supervisory Service, Industrial Bank of Korea, Kiwoom Securities, Shinhan Card and the Salvation Army to support traditional markets and vulnerable communities.

The event took place Friday at Bangsin Traditional Market in Gangseo-gu, Seoul, and was attended by Financial Supervisory Service Director General Lee Chan-jin, KB Insurance President Koo Bon-wook, Industrial Bank of Korea President Jang Min-young, Kiwoom Securities CEO Eom Ju-seong and Shinhan Card Executive Vice President Kim Young-il, among others. The participating financial firms, together with the FSS, pooled 130 million won ($93,900) in sponsorship funds to support traditional market revitalization and aid for vulnerable groups. KB Insurance has taken part in the event every year since 2015.

At the event, Koo personally purchased holiday goods using Onuri gift certificates — a government-backed voucher program for traditional markets — and spoke with vendors to hear their concerns. He also encouraged merchants struggling with the economic slowdown and sluggish consumer spending, lending his support to efforts to revitalize the local economy.

A total of 450 food packages — filled with holiday staples including Korean beef, fruit, vegetables and rice cakes — along with 4,000 Onuri gift certificates purchased at the event are set to be distributed to social welfare facilities and vulnerable households. The initiative aims to boost sales for local small business owners while helping marginalized neighbors enjoy a warmer chuseok.

"Traditional markets are a vital foundation of the local economy and a living space where the lives of our neighbors breathe," Koo said. "I hope this sharing activity offers even a small measure of strength to vendors and those in vulnerable situations." He added that KB Insurance would continue to grow alongside local communities and spread the value of giving.