KB Financial Launches "Energy Cost Reduction Facility Support Program"

Up to Four Local Governments to Receive 600 Million Won

From Energy Efficiency to Smart Management for Local Main Streets

Contributed to Mutual Growth Cooperation Fund Worth a Total of 10 Billion Won

KB Financial Group and the Foundation for Large, Medium, Small Enterprises and Agriculture, Fisheries Cooperation announced on September 22 that they will implement the “2026 KB Financial Energy Cost Reduction Facility Support Program.”

This program aims to reduce energy cost burdens for local small business owners and help improve their business environments. Using funds from the Green Transformation (GX) section of the mutual growth cooperation fund contributed by KB Financial, the initiative will support energy-saving projects led by up to four local governments.

The total support is set at 600 million won, with each selected region receiving between a minimum of 100 million won and a maximum of 300 million won in project funding. All funds will be allocated exclusively for local small businesses and sole proprietors to experience tangible benefits such as improved store environments and reduced electricity bills.

Local governments wishing to participate can freely design projects focused on “energy independence and infrastructure efficiency” that reflect the unique characteristics of their local commercial districts. They should then submit a proposal in collaboration with a professional implementing agency. Key project areas include: ▲“Energy Efficiency Improvement” such as replacing outdated wiring and installing high-efficiency LED signs; ▲“Eco-Friendly Equipment Support” such as installing eco-friendly heat pumps and devices to reduce cooking fumes; and ▲“Smart Energy Management” such as distributing smart meters (AMI) and IoT-based standby power-off outlets.

In particular, if a local government allocates additional budget to the mutual growth cooperation fund to participate in the program, it will receive a five-point bonus in the selection process. This measure aims to encourage active participation by local governments.

Applications must be submitted by October 11. Local governments interested in participating should send their application forms and related documents to the ESG Support Department of the Foundation for Mutual Growth via email. The final selections will be announced in the third week of October following an in-person evaluation.

This content was produced with the assistance of AI translation services.