[Weekly Savings Banks] Welbang App Surpasses 1.5 Million Subscribers 外

[Asia Economy Reporter Kim Min-young] Welcome Savings Bank announced that its mobile banking platform Welcome Digital Bank (Welbang) app downloads have surpassed 1.5 million.

To celebrate surpassing 1.5 million downloads, the savings bank is holding an event offering Samsung Electronics' latest smartphone Galaxy Note20 Ultra and cashback rewards up to 10,000 KRW.

This event, running until the 30th of next month, targets customers who newly register CMS and Giro automatic payments to a Welcome Savings Bank account for the first time.

Both first-time and existing customers of Welcome Savings Bank can participate. Customers who consolidate CMS and Giro automatic payment registrations scattered across various financial companies into a single Welcome Savings Bank account will be automatically entered.

During the event period, customers who apply for and register card company automatic payments to their Welcome Savings Bank account will be entered into a draw to win one of three Samsung Electronics' latest Galaxy Note20 Ultra smartphones.

Additionally, the first 1,000 customers who apply for CMS and Giro automatic payments such as insurance premiums and electricity bills to their Welcome Savings Bank account will receive cashback rewards up to 10,000 KRW.

1 Trillion KRW Supplied in Mid-Interest Rate Credit Loans

JT Savings Bank announced a customer appreciation event to celebrate surpassing 100 billion KRW in cumulative supply of its mid-interest rate credit loan product ‘Parasol 100’.

The event targets customers who use the Parasol 100 loan via the mobile app, with Starbucks gifticons provided to the first 500 applicants.

Launched in April, this product is a mid-interest rate credit loan designed for salaried workers including office workers and freelancers, as well as low- to middle-income earners, offering an annual interest rate as low as 5.8% and a maximum repayment period of 100 months. It is structured to allow principal repayment over 100 months at about 1% per month.

As of the end of last month, just three months after launch, the product achieved a cumulative supply amount of 120.1 billion KRW. The company explained that approximately 94% of actual users were low- to middle-credit borrowers with credit grades between 4 and 7, who are often in financial blind spots.

Employees Donate 55 Million KRW by Pooling Work Hours

Employees of OK Financial Group, which includes OK Savings Bank and OK Capital as affiliates, pooled their work hour allowances to donate funds for flood recovery.

OK Financial announced that it donated 55 million KRW through the Community Chest of Korea to support flood victims in recovery efforts.

This fund was raised through voluntary contributions from all employees of OK Financial Group, including OK Savings Bank and OK Capital. Especially for employees who wished to volunteer directly at flood recovery sites but could not, the donation took the form of contributing about one hour’s worth of their work hour allowances. The company added additional funds to the amount raised by employees.

BNK Savings Bank Steps Up to Help Flood Victims

BNK Savings Bank announced that it delivered relief supplies worth 5 million KRW to the Jaseongdae Senior Welfare Center in Dong-gu, Busan, to assist flood victims affected by heavy rains.

The relief supplies, consisting of 100 summer blankets and a gas rice cooker for 150 people, will be distributed to flood-affected households in the Dong-gu area of Busan through the welfare center.

Seong Myung-hwan, CEO of BNK Savings Bank, said, “We hope that residents affected by the heavy rains can return to their daily lives as soon as possible. We will continue to strive to be a company that supports the community and its residents through various support programs.”