KB Kookmin Bank has begun to establish a one-trillion-won infrastructure fund to expand investment in advanced strategic industries and national infrastructure.
KB Kookmin Bank announced on Mar. 12 that it has signed a 500 billion won investment agreement in the one trillion won KB Kookmin Growth Infrastructure Fund to foster infrastructure for advanced strategic industries.
The KB Kookmin Growth Infrastructure Fund is a blind fund, with KB Asset Management responsible for establishing and managing the fund.
KB Kookmin Bank, KB Insurance, and KB Life will participate so the fund will be entirely created with funds from KB Financial Group.
This fund is the first in the financial industry to adopt a permanently closed infrastructure fund structure to mitigate potential profit and loss volatility that can arise during the management of large-scale funds.
Unlike general funds with fixed maturities, closed funds are structured to hold investment assets for a long term and ensure stable management.
The fund plans to invest in infrastructure projects related to national growth, including digital infrastructure, energy infrastructure, renewable energy transition, and social overhead capital (SOC) for balanced regional growth.
One of its key investment targets is the Yongin Semiconductor Cluster District Energy Project.
The bank plans to expand its search for mega-infrastructure projects that can enhance Korea’s growth potential.
A PR image of 1-trillion-won KB National Growth Infrastructure Fund which KB Financial Group established.
KB Kookmin Bank, having previously arranged financing for the Shinan Ui Offshore Wind Power Project, the first investment project that the National Growth Fund will invest in, plans to expand its financial support for mega-infrastructure projects through this infrastructure fund investment.
Furthermore, KB Kookmin Bank will contribute to achieving the National Growth Fund’s 10-trillion-won target, part of KB Financial Group’s mid- to long-term plan to provide 93 trillion won in productive finance by 2030.
“The KB Kookmin Growth Infrastructure Fund aims to strengthen the domestic growth foundation by expanding investment in advanced strategic industries and key national infrastructure,” a KB Kookmin Bank official said.
“We will continue to support the Korean economy’s sustainable growth and boost Korea’s industrial competitiveness through productive finance.”
Signs MOU with AIA Life Insurance for Insurance Claim Trust Services
KB Kookmin Bank announced on Mar. 4 that it has signed a business agreement with AIA Life Insurance to vitalize insurance claim trusts and expand trust-insurance linkage services.
The signing ceremony was attended by key officials from both companies including Yu Shin-ok, chief customer officer of AIA Life Insurance and Jeon Hyo-seong, vice president of the WM Customer Group at KB Kookmin Bank.
An Insurance Claim Trust is a service that allows policyholders to establish a trust for death benefits during their lifetime, enabling them to pre-design the management and payout structure of the insurance proceeds after their death.
Unlike traditional beneficiary designation, this system is characterized by the ability to pre-determine the specific purpose and distribution method of the funds according to the policyholders’ needs.
This agreement was signed to facilitate systematic asset management and transfers by combining KB Kookmin Bank’s trust-based wealth management expertise with AIA Life’s specialized insurance protection services.
Based on their respective expertise, the two companies will build a stable asset succession service that reflects customer needs, supporting more organized wealth management and predictable asset transfers.
In addition, KB Kookmin Bank has been expanding its collaboration with insurance companies that do not operate their own trust business, including KB Life Insurance.
Expansion of KB Small Business Mentoring School
KB Kookmin Bank announced on Mar. 11 that it will expand the number of companies supported by its KB Small Business Mentoring School which provides customized consulting services to small business owners, and convert it to an annual program.
Since 2019, KB Small Business Mentoring School has provided on-site, hands-on solutions to small business owners facing management challenges by having experts in various fields, including management, finance, marketing, taxation, and social media operations, visit small business sites. To date, the program has supported a total of 343 companies, helping them sharpen their competitiveness.
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