Trust set up to support job creation for young adults

Economy

Trust set up to support job creation for young adults

Five banks including KEB Hana Bank, Shinhan Bank, Kookmin Bank, Woori Bank and Nonghyup are involved in the “hope young adults’ public trust,” Korea Federation of Banks said on Monday.

The trust was established to provide support to the young adults’ foundation, that was set up by the government recently to support job creation. Money from the trust will be used to provide support to businesses that create jobs for young adults, according to the federation. Persons who are interested in donating can visit the banks’ five branches. There are no limits to donation, and donators will receive tax benefits.

Chairmen of the country’s top three financial group companies including KB, Hana and Shinhan have decided to each donate 10 million won to the trust. They will also continue to donate half of their voluntary 30 percent salary cut to the trust.