KB Kookmin Card, First in Card Industry to Receive A+ Grade in 'Financial Company Governance Evaluation'

Evaluated as Establishing a Sustainable Management System through Practical and Efficient Board of Directors Operations

[Asia Economy Reporter Ki Ha-young] KB Kookmin Card announced on the 19th that it received an A+ grade in the governance category for the first time in the card industry in the 2020 Environmental, Social, and Governance (ESG) evaluation conducted by the Korea Corporate Governance Service (KCSG).

Since the introduction of the governance evaluation for financial companies in 2018, KB Kookmin Card had received an A grade for two consecutive years until last year. Notably, this year it was the only company in the card industry to achieve an A+ grade.

This evaluation assessed governance aspects such as shareholder rights protection, the board of directors, supervisory bodies, internal controls, and disclosures, examining the sustainable management system and the potential for shareholder value impairment as outlined in the financial company governance best practice guidelines. KB Kookmin Card was evaluated as having a well-established sustainable management system and a significantly low risk of shareholder value impairment due to non-financial risks.

In particular, it received high marks for ensuring that the board of directors operates substantively and efficiently. KB Kookmin Card regularly holds biannual management workshops including outside directors, fully reflecting the opinions of outside directors from the strategy formulation stage. Additionally, prior to board meetings, pre-briefing sessions are held for outside directors to promote active discussion and enhance understanding of key agenda items.

The board is composed of outside directors with expertise in various fields, and through smooth communication with KB Financial Group, the systematic governance policies and strategies of KB Financial Group are effectively reflected throughout the board, which also received excellent evaluations.

A KB Kookmin Card official stated, "Based on excellent governance, we will implement transparent and exemplary governance to become a leading ESG company," adding, "We plan to continuously focus on and make efforts toward eco-friendly management and supporting social co-prosperity."

This content was produced with the assistance of AI translation services.