Gwangju Bank Launches Public Interest ESG Product 'Meongi Nyangi Savings'

[Asia Economy Honam Reporting Headquarters Reporter Park Jin-hyung] Gwangju Bank (President Song Jong-wook) announced on the 1st that it has launched a non-face-to-face exclusive public interest ESG product called the ‘Meongi Nyangi Savings Account’.

The ‘Meongi Nyangi Savings Account’ is a meaningful product that donates 1,000 KRW per subscriber to raise funds up to 10 million KRW for the treatment and purchase of feed for abandoned animals.

The ‘Meongi Nyangi Savings Account’ eliminates the issuance of paper passbooks to practice environmental protection and can be subscribed through internet banking, smart banking, and mobile web banking channels. It allows a one-year subscription with a monthly deposit of at least 50,000 KRW and up to 1 million KRW.

This product will be sold until February 28, 2022, and a special interest rate event will be held until the sales deadline, offering a preferential interest rate of 0.4%p.

After the sales period ends, a donation of 1,000 KRW per subscriber will be accumulated and donated to the nonprofit organization Gachibodeum, which operates the Gwangju Metropolitan City Animal Shelter under consignment, within the limit of 10 million KRW.

Song Jong-wook, President of Gwangju Bank, said, “As social interest in ESG management and ethical consumption has recently increased, we expect that working together with financial consumers will create synergy in spreading the company’s positive influence, which led to the launch of the ‘Meongi Nyangi Savings Account.’ I hope that these small but warm concerns will gather to become a force that changes the world.”

He added, “With the sense of mission as the representative bank of Gwangju and Jeonnam, we will take the lead in spreading ESG management that pursues value beyond profit by practicing community-based management and inclusive finance.”