October 18, 2024

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KB Kookmin Bank President Lee Jae-keun (center left), Starbucks Korea CEO Son Jung-hyun (center right) and other company officials pose for a photo after a partnership signing ceremony at the Starbucks Korea Support Center in Seoul on Tuesday. (Starbucks Korea)

KB Kookmin Bank and Starbucks Korea on Wednesday announced a partnership to launch a bank account product exclusively for local devotees of the US coffee chain.

Set for launch in early 2025, the new partnership will introduce the first-ever "Starbucks Account," a savings account tailored to Starbucks customers, offering unique benefits that blend banking services with daily coffee purchases.

Additionally, KB Kookmin Bank’s digital certificate service will be integrated into the Starbucks app, providing customers with quick and secure access to their accounts.

“This partnership represents a significant step in improving the customer experience,” Starbucks Korea CEO Son Jung-hyun said.

“We are excited to offer more convenient, digital payment options and enhanced rewards to our customers.”

Lee Jae-keun, president of KB Kookmin Bank, echoed the sentiment, saying, “By embedding our financial services into daily life through this partnership, we can offer something entirely new and convenient for customers.”

The collaboration is expected to benefit KB Kookmin Bank’s 34 million customers and Starbucks Korea’s 13 million loyalty program members, providing greater flexibility in managing finances and purchases.

By Park Li-na (linapark@heraldcorp.com)