KB Kookmin Bank reappointed through open competition and review; agreement signed Wednesday at district mayor's office
Bank to handle general and special accounts and funds from 2027 through 2030
Seoul's Dongdaemun-gu signed an agreement with KB Kookmin Bank on Wednesday to designate the bank as the district's next official treasury institution.
The district selected KB Kookmin Bank through an open competitive bidding process, with submitted proposals reviewed and evaluated by a treasury designation committee before the bank was formally appointed.
Under the agreement, KB Kookmin Bank will manage Dongdaemun-gu's general accounts, special accounts and funds from Jan. 1, 2027, through Dec. 31, 2030 — a four-year term. Its duties will include collecting tax revenue, processing expenditure payments, and handling the deposit and safekeeping of cash and securities, as well as managing surplus funds.
"We are pleased to continue working with KB Kookmin Bank, which has managed our district treasury for the past four years," Dongdaemun-gu District Mayor Choi Dong-min said. "Building on our close partnership, we will manage district funds in a stable and efficient manner and maintain fiscal operations that earn the trust of our residents. We also look forward to continued active cooperation to improve financial convenience for residents and contribute to the development of our community."
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