KakaoBank Builds Gers and Plants Trees in Mongolia, Expanding Shared-Growth Efforts Beyond Finance

[Financial News] A KakaoBank Corp employee volunteer group carried out activities to improve housing and educational conditions in Ulaanbaatar, Mongolia. KakaoBank Corp is expanding financial cooperation with Mongolian companies while strengthening its ties with local communities through social contribution programs.
On the 10th, KakaoBank Corp said that 20 employees directly participated in building four traditional Mongolian homes, known as gers, for housing-vulnerable residents in the Chingeltei area of Ulaanbaatar for about a week starting on the 30th of last month. 
The employees also planted trees to improve the local environment. Together with local residents, they planted a total of 70 trees at the Khairkhan Development Center, a lifelong learning facility in Ulaanbaatar’s Takhilt area.
Educational volunteering for local children continued as well. The volunteers interacted with about 40 children through various programs, including making rubber-band-powered planes and door plaques, Korean-language lessons, and a cooperative sports day.
KakaoBank Corp donated 300 million won to Good Neighbors, an international nonprofit NGO specializing in children’s rights, to improve the local educational environment. The donation will be used to establish Good Learning Spaces, equipped with libraries and digital classrooms, at four schools in Ulaanbaatar.
KakaoBank Corp has continued overseas employee volunteer activities for four consecutive years since 2023. It has supported housing and educational-environment improvement projects in countries including Indonesia and Mongolia. Its cumulative donations for overseas social contribution programs have exceeded 1 billion won.
Meanwhile, KakaoBank Corp entered into a strategic partnership with MCS Group, Mongolia’s largest company, in April. The two companies agreed to cooperate in various areas, including the advancement of credit assessment models and the joint development of alternative credit assessment models. In July, KakaoBank Corp CEO Yun Ho-young accompanied President Lee Jae Myung as part of the economic delegation during his state visit to Mongolia. KakaoBank Corp was the only bank-sector company to join the Mongolian economic delegation and is working to expand “K-finance.” 
[email protected] Lee Hyun-jung Reporter