KB Financial Group Chief Digital Platform Officer Cho Young-suh (first from left, front row) and participants pose for a photo after the “2023 Hub Day," held at the KB Innovation Hub center in Seoul on Tuesday. Hub Day is an annual startup Demo Day hosted for the members of the KB Starters program, a startup accelerator program run by the financial giant. A total of 40 startups participated in this year’s event to share business ideas and seek partnership opportunities with KB s

KB Financial Group on Tuesday unveiled a video titled “Safeguarding Soil, A Source Of Life,” to celebrate World Soil Day, held annually on Dec. 5 to advocate for the sustainable soil management practices. The video first underscores the importance of healthy soil as an essential resource for sustaining life on Earth. It then discusses plastic, the leading cause of soil and water pollution. According to the video, plastic waste can release harmful chemicals into the surrounding soil,

KB Kookmin Bank CEO Lee Jae-keun has been nominated for a second term as the head of the nation’s top lender, KB Financial Group said Thursday. In a meeting held earlier in the day, the group’s CEO candidate recommendation committee named Lee as the sole and final candidate as the bank’s next CEO. Lee, 57, has been holding the top post since January 2022. Lee is recognized for his experience in crucial posts, such as sales, finance, strategy and more, and for his understanding

By Yoo Chang-jo Professor of marketing at Dongguk University The rapidly evolving landscape of technology-driven finance demands a global perspective and competitive edge. Recognizing the role of financial institutions in this dynamic environment, The Korea Herald's Global Finance Awards, now in its seventh year, continues to honor those at the forefront of innovation and service in the Korean financial sector. This year’s awards were categorized into the Financier of the Year, In

KB Financial Group has solidified its status as a leading banking conglomerate by diversifying its revenue streams and strengthening its business portfolio beyond traditional lending activities. For two consecutive years, the group achieved net profits exceeding 4 trillion won ($3.1 billion) since 2021. It regained its title as the country's leading financial group in 2017, when its net profit surpassed 3 trillion won for the first time in its history. Its stellar performance stemmed from

KB Kookmin Bank has been striving to be a first mover that takes initiatives in the banking industry and develops innovative financial services by growing in line with its customers. For nine consecutive years, KB Kookmin Bank has ranked at No. 1 in the banking category of the National Customer Satisfaction Index, and once again secured first place in the latest report, released in early November. With “kookmin” meaning “people” in Korean, KB Kookmin Bank CEO Lee Jae-keun

South Korean stocks finished slightly lower Wednesday as investors remained cautious ahead of the central bank's rate-setting meeting this week. The local currency gained ground against the US dollar. The benchmark Korea Composite Stock Price Index declined 1.95 points, or 0.08 percent, to close at 2,519.81. Trading volume was moderate at 571.6 million shares worth 9.27 trillion won ($7.19 billion), with losers beating winners 598 to 272. Institutions sold a net 140.9 billion won worth of l

KB Financial Group Chairman Yang Jong-hee on Friday stressed his will to nurture young tech talent in the field of artificial intelligence, calling digital finance not an option but a must for the financial giant’s sustainable growth. "IT and digital are no longer means to support the bank, but a core sector that will lead the businesses at the forefront," the chairman said at the group’s AI forum held in Seoul on Friday. "We must shift our perspectives from in-perso

Four out of 10 South Koreans feel financially unprepared for post-retirement life, according to a survey released on Sunday. Only 21 percent expressed a sense of well-rounded preparedness in advance. The KB Financial Group's Management Research Institute conducted a survey on retirement preparation and housing preferences among 3,000 men and women aged between 20 to 79 nationwide, who are financial decision-makers in their households. The survey took place in January this year. The survey r

KB Financial Group held a conference Thursday, diagnosing the current market situation and sharing with its individual and corporate clients the group’s future investment philosophies to tackle uncertainties surrounding the global market. Titled “KB Investor Insights 2024,” the event was held at the KB Kookmin Bank's headquarters in Seoul, under the theme “anti-fragility," which refers to an ability to respond to and gain from uncertainties, and disorder. The te

Yang Jong-hee, the new chairman of KB Financial Group, South Korea's largest financial giant, commenced his official term on Tuesday, putting renewed emphasis on “giving back to society.” "I deeply feel the weight of responsibility that comes with the role of finance," Yang said during his inaugural ceremony held at the group's headquarters in Seoul earlier in the day. "There is a saying that ‘if we want to go far, we go together.’ Without the gro

KB Financial Group’s shareholders approved of Vice Chairman Yang Jong-hee's appointment as the next chairman during a special shareholders' meeting at its headquarters in Seoul on Friday. The financial group's shareholders overwhelmingly supported Yang's appointment, with 97 percent of votes in favor. "Despite various challenges in the domestic economy and financial industry, there are high expectations from shareholders for KB Financial Group. I am aware of this a

Shinhan Financial Group's former Chairman Cho Yong-byoung has emerged as the final nominee for the chairman position of the Korea Federation of Banks to head the association for the next three years. In a meeting held on Thursday, the KFB's Chairman Candidate Recommendation Committee chose Cho as the final candidate from a pool of six contenders for the position. The KFB is slated to hold a meeting on Nov. 27, bringing together representatives from 23 member companies to formally appoi

South Korea's top five commercial banks will provide the first tranche of a syndicated loan worth 3.5 trillion won ($2.65 billion) to the Polish government to finance a follow-up weapons purchase deal with Korean arms companies, industry sources said Friday. This decision came after South Korea's Defense Ministry asked the top five commercial banks -- KB Kookmin, Shinhan, Hana, Woori and NongHyup -- to provide the lending during a meeting held on Nov. 6, as state-run banks hit their lo

South Korean commercial banks are considering loan syndication for the Polish government to finance a weapons purchase deal worth 30 trillion won ($23.1 billion) with Korean arms companies, as state-run banks hit their loan limit for the contract. South Korea's Ministry of Defense on Monday held a meeting with officials from five top local banks -- KB Kookmin, Shinhan, Hana, Woori and NongHyup -- to discuss providing loans to the Polish government for an arms export deal, according to sou