Busan is good

Busan Metropolitan City and BNK Busan Bank Launch Full-Scale, Locally Tailored Social Contribution Initiatives

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Busan Metropolitan City, led by Mayor Chun Jae-soo, announced that it will hold a donation presentation ceremony today, July 29, at 9:30 a.m. in the Protocol Room at Busan City Hall to launch BNK Busan Bank’s Locally Tailored Mutual Growth Finance Program.

Mayor Chun Jae-soo, BNK Financial Group Chairman Bin Dae-in, BNK Busan Bank President Kim Seong-ju, Busan Community Chest of Korea Chairman Lee Su-tae, and other officials are scheduled to attend.

The ceremony will include an introduction of attendees, a report on BNK Busan Bank’s social contribution initiatives, the presentation of the donation, a commemorative photo session, and a discussion.

BNK Busan Bank will make a designated donation of KRW 670 million to the Busan Community Chest of Korea for social contribution initiatives in the Busan region.

Of the donation, KRW 480 million will be used for the Our Neighborhood Mutual Growth Finance Project, which reflects the distinct characteristics and welfare needs of Busan’s 16 districts and counties. The remaining KRW 190 million will fund the 2026 Cool Summer Support Program for Socially Vulnerable Groups, which assists people vulnerable to extreme heat.

The Our Neighborhood Mutual Growth Finance Project is a locally tailored open-call initiative that moves away from uniform holiday gift distributions and cash assistance. Instead, each district and county will directly propose and implement social contribution projects suited to its local issues and residents’ needs.

Each of Busan’s 16 districts and counties will receive approximately KRW 30 million in project funding. Proposals will be accepted for a wide range of initiatives addressing local issues, including welfare programs supporting vulnerable groups and providing care services, neighborhood environmental improvements, environmental, social and governance activities, support for children and young people, and financial education.

Priority will be given to projects offering sustainability, scalability and local relevance, rather than one-time distributions of goods. Through this approach, the partners aim to establish a practical and sustainable social contribution model whose benefits can be directly felt by local communities.

The open call is currently underway for all 16 districts and counties. Applications will be accepted through July 31, after which the projects will be finalized in August following review by a committee comprising representatives from Busan Metropolitan City, BNK Busan Bank and the Busan Community Chest of Korea. Selected projects are scheduled to be implemented from October 2026 through October 2027.

The 2026 Cool Summer Support Program for Socially Vulnerable Groups is designed to help residents who are particularly vulnerable to extreme summer heat maintain healthy and safe living conditions.

The KRW 190 million donation will be used to purchase approximately 2,000 electric fans for around 2,000 households across the 16 districts and counties, including recipients of basic livelihood security benefits and vulnerable households earning no more than 100 percent of the median income.

Recipients will be selected based on recommendations from the districts and counties. The fans are expected to be delivered to eligible households through local administrative welfare centers in early August.

Meanwhile, BNK Busan Bank carried out social contribution activities worth a total of KRW 60.5 billion in the Busan region in 2025. It has continued to undertake a broad range of community-based initiatives, including support for vulnerable groups, scholarship programs, financial education, and assistance for culture, arts and sports.

Mayor Chun Jae-soo is expected to say, “This initiative is particularly meaningful because it represents a new social contribution model in which local communities identify and resolve their own issues, moving beyond the uniform distribution of predetermined goods.”

He will add, “As public administration must remain closest to the daily lives of citizens, we will work closely with BNK Financial Group to ensure that the support people genuinely need reaches every neighborhood throughout the city.”