Climate card holders to receive preferential rates on bank deposits

South Korea's Ministry of Climate, Environment and Energy signed a "Korea Climate Action" MOU Thursday with the Korea Environmental Industry and Technology Institute, KB Kookmin Bank and Industrial Bank of Korea at the Korea Federation of Banks building in Jung-gu, Seoul.

The agreement aims to broaden participation in the "Korea Climate Action" and "Carbon Neutrality Points" programs — which reward everyday climate-friendly behavior through financial institutions' mobile platforms — and to expand the tangible economic benefits available to participants.

Users who sign up for the Carbon Neutrality Points service and complete climate citizen registration through the participating banks' mobile apps will receive the standard 1,000-won Carbon Neutrality Points reward, along with additional points from each bank for a limited period.

A referral event will also offer bonus points to users who invite friends, encouraging the spread of climate action through personal social networks.

The banks plan to develop savings and deposit products with preferential interest rates for climate card holders, and to expand cooperation with other commercial banks to deliver more meaningful financial benefits that encourage broader participation in climate action.

"For climate action to take root successfully in people's daily lives, it must be easy for anyone to join and the benefits of participation must be clearly felt," Climate, Environment and Energy Minister Kim Sung-hwan said. "Using this agreement as a springboard, we will continue to expand this model of public-private cooperation, where small everyday actions by citizens translate into real financial rewards."