KB Financial Steps Up to Support SME Industrial Safety... Building a Virtuous Cycle Ecosystem

Chairman Yang Jonghee: "Serving as a Catalyst for Growth in a Safe Environment"
Introduction of a Performance-Based Social Contribution Model
Maximizing the Effectiveness of Support Programs

On the 19th, at the KB Kookmin Bank New Building in Yeongdeungpo-gu, Seoul, a commemorative photo was taken during the "Small and Medium Business Industrial Safety Support Agreement Ceremony" with Yang Jonghee, Chairman of KB Financial Group (left), Han Seongsuk, Minister of the Ministry of SMEs and Startups (center), and Kang Seokjin, Chairman of the Small and Medium Business Promotion Corporation. Provided by KB Financial

KB Financial Group announced on the 21st that it has signed a Memorandum of Understanding (MOU) with the Small and Medium Business Promotion Corporation for supporting industrial safety in small and medium-sized enterprises (SMEs).

According to KB Financial Group, Han Seongsuk, Minister of the Ministry of SMEs and Startups, Yang Jonghee, Chairman of KB Financial Group, and Kang Seokjin, Chairman of the Small and Medium Business Promotion Corporation, held the signing ceremony on the 19th at the KB Kookmin Bank New Building in Yeongdeungpo-gu, Seoul.

This agreement was established to address the urgent challenges faced by SMEs in implementing measures to prevent major industrial accidents. The Ministry of SMEs and Startups initiated support for industrial safety in SMEs through its "Innovation Voucher" program, while KB Financial Group and the Small and Medium Business Promotion Corporation developed a public-private partnership model.

The Ministry of SMEs and Startups, KB Financial Group, and the Small and Medium Business Promotion Corporation plan to identify and nurture companies with outstanding industrial safety technologies and support the establishment of industrial safety systems. Through these efforts, they aim to create a virtuous cycle ecosystem for industrial safety that effectively prevents serious accidents.

Starting from the first quarter of next year, KB Financial Group will design detailed business structures, discover and select participating companies, and establish a system for recruiting and matching target SMEs. The company plans to focus its efforts on spreading a safety culture centered on "prevention before accidents" rather than "response after accidents."

In addition, the group will identify companies with excellent industrial safety technologies that are struggling to find sales channels, and will support product supply, on-site inspections, and training for SMEs. This approach aims to simultaneously foster the growth of companies with safety-related technologies and make tangible improvements to the safety levels at SME worksites.

Notably, this initiative will introduce a "performance-based social contribution model" that differentiates compensation based on results. KB Financial Group will set clear goals for each participating company and provide additional incentives to top performers based on their achievement rates. The partnership model has been designed to ensure that support is focused on areas with proven effectiveness in accident prevention.

Minister Han stated, "This agreement will serve as an exemplary case of collaboration, with private financial institutions and public organizations sharing responsibility to protect industrial safety in SMEs. We will further strengthen policy support and cooperation with relevant ministries and agencies so that industrial accident prevention policies can be truly felt at worksites."

Chairman Yang emphasized, "Worksite safety for SMEs is an essential value that protects both the sustainability of businesses and the quality of life for workers. We will systematically nurture outstanding companies and spare no effort to ensure that they can make meaningful contributions to the safe growth of SMEs." He added, "By joining forces with the Ministry of SMEs and Startups and the Small and Medium Business Promotion Corporation, we will take the lead in creating an environment where SMEs can grow with confidence in a safe setting."

Chairman Kang stated, "With this agreement as a starting point, we will create an environment where local SMEs can practice safety management focused on accident prevention, and we will actively link related policy initiatives to support the continuous growth of SMEs."