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Read Full BioThe Kookmin Bank CEO, Lee Hwan-joo, has pledged his support for a national campaign aimed at eradicating youth gambling.
The social media-led campaign is named the Youth Gambling Eradication Challenge (literal translation). It was launched by the Seoul Metropolitan Police Agency in March.
Police have asked members of the business community to help combat gambling by participating in an awareness drive.
Participants are then required to publicly invite other members of the community to support the campaign on their own social media platforms (or those of their company).
Police hope the campaign will raise public awareness of the dangers of letting minors access illegal gambling apps.
Officers also hope this will help spur the government, lawmakers, and regulators into action. Police have called for new “preventative measures to protect the youth from the dangers of illegal gambling.”
Kookmin Bank Chief Backs Anti-Gambling Drive
Hwang Young-ki, the Chairman of the Green Umbrella ChildFund Korea, nominated Lee for the challenge
The KB chief asked Cho Yong-byeong, the Chairman of the Korea Federation of Banks, to join the campaign. He also nominated Jeong Moon-cheol, the President of KB Life Insurance.
The South Korean media outlet Bigta News quoted Lee as saying: “The problem of youth gambling is not a problem just for individuals. It is a critical issue that the entirety of our society must pay attention to. We must work together to solve it.”
The CEO added that Kookmin Bank would continue to work with young people. Lee said KB would help ensure children “grow up in healthy environments; in possession of the right values.”
School Children Demand More Gambling-Related Education
KB is the largest bank in South Korea, with over 1,000 branches across the country. It is also part of the wider KB Financial Group.
Meanwhile, the newspaper Kyeongin Ilbo reported that Suwon City’s Youth Council has proposed measures aimed at wiping out underage gambling in the city.
The council, a 44-member group of young residents of Suwon, has proposed making gambling prevention education compulsory for schoolchildren in the city.
Council members noted that many of their peers are struggling with gambling-related problems. They said that there is currently a “lack of gambling education in schools.”
The council said local school children are currently facing a rise in drugs, gambling, and digital sex-related crimes.
The city has responded by indicating that it would act upon the recommendation. A council member said they were glad that the city was listening to the voices of young people.
In July this year, the city of Gumi, in North Gyeongsang Province, promised to respond after discovering that most child gamblers in the area start betting at age 12.
Earlier this year, police revealed data showing that 4% of South Korean elementary, middle, and high school children have experienced gambling.
Youth gambling addiction is on the rise in South Korea, police have warned. Officers say that illegal gambling apps are becoming increasingly easy for children to access.
