KB Kookmin Bank said on Sept. 4 that it signed a business agreement with the Yangon state government in Yangon, Myanmar's economic capital, to support a project to create a collective residential complex for low-income people.
KB Kookmin Bank CEO Huh In, Myanmar Construction Minister U Han Zaw, Yangon Region minister for Electricity, Industry, and Roads and Communications Daw Nilar Kyaw and Yangon Vice Mayor U Soe Lwin attended the signing ceremony.
Through the agreement, KB Kookmin Bank will actively cooperate in the project to create a collective residential complex for low-income families, which is being pursued by the Yangon State Government and the construction ministry.
In addition, the bank plans to help low-income people in Myanmar establish stable living conditions by providing housing financing to residents and supporting employment activities.
"The results of KB Kookmin Bank`s long-held efforts to move its housing financing capacity are expected to be fully realized through support for the project to create a collective housing complex," Hur In said in a congratulatory speech.
Meanwhile, KB Kookmin Bank signed a memorandum of understanding (MOU) with Myanmar's Construction Ministry in February 2017 to support the Myanmar government's housing supply policy and establish cooperative relations for the development of the housing financial market.
