Park Jung-rim and Kim Sung-hyun, KB Securities CEOs, "The First Year of Mid-to-Long-Term Strategy Implementation... We Will Provide Optimal Investment Solutions"

[Asia Economy Reporter Oh Ju-yeon] "This year marks the first year of implementing the '2023 Mid-to-Long Term Strategy,' aiming to become a securities firm that provides optimal investment solutions through balanced growth across business divisions and digital innovation, making it a crucial year."

Park Jung-rim and Kim Sung-hyun, CEOs of KB Securities, stated in their 2021 New Year's address, "We will focus the company's full capabilities on swiftly and meticulously advancing the mid-to-long term strategy, which is the blueprint for the next three years."

This year’s business environment is expected to continue to be constrained by the COVID-19 pandemic, and digital competition within the financial sector is anticipated to intensify. Both CEOs agree that strategic responses are necessary.

CEOs Park Jung-rim and Kim Sung-hyun emphasized that they will focus on expanding core competencies by business division, enhancing business capabilities based on digital platforms, innovating platform-based business models, and strengthening a sustainable management system centered on ESG (Environmental, Social, and Governance).

First, to expand core competencies by business division, they explained that each division should strengthen its strengths based on the mid-to-long term strategy and management plans, while making the portfolio more balanced and competitive through growth plans for weaker businesses.

The Wealth Management (WM) division plans to expand customer-centered asset management capabilities in response to the continued ultra-low interest rate environment, the expansion of non-face-to-face channels, and the diversification of customers’ financial needs, while continuously increasing WM customer assets achieved last year.

To this end, they will sophisticate WM asset management capabilities through systematizing the customer-centered CPC (Customer, Product, Channel) strategy and strengthen non-face-to-face customer response capabilities based on data analysis. Additionally, they plan to focus capabilities to ensure that the strategically nurtured 'Prime Club' becomes the industry's best non-face-to-face customer service.

The Investment Banking (IB) division stated that to actively respond to corporate demands for business restructuring and financial structure improvement after COVID-19, they will strive to achieve the Triple Crown (DCM, ECM, M&A) in corporate finance. They also plan to solidify their position as a leading IB in the industry through proactive responses to changed real estate regulations and the K-New Deal, while continuing to expand profitability.

The Sales and Trading (S&T) division will strengthen business capabilities based on competitive bond management capabilities, accelerate the expansion of profit scale, and continuously develop operational capabilities and processes within the division to ensure stable profit generation.

The Institutional Sales division expects meaningful results in expanding market share in domestic and international institutional stocks and passive sales, qualitative growth in financial product sales, and international sales, based on the growth foundation established last year.

Although difficulties persist due to COVID-19, the Global Business division plans to meticulously implement strategies to expand business capabilities and profits of local subsidiaries in Hong Kong, New York, and Vietnam (KBSV), as well as to expand the global network for future company revenue diversification.

Alongside this, to respond to the hyper-competitive digital environment, they announced plans to accelerate strengthening business capabilities based on digital platforms and innovating platform-based business models. They will focus on enhancing platform competitiveness by customer journey (CJM) through data-driven customer analysis, expanding customer inflow, and generating customers through non-face-to-face channels.

They also emphasized that for the company’s sustainable growth, it is essential to lead in establishing risk and internal control systems for customer trust and an ESG management system for corporate social responsibility.

CEOs Park Jung-rim and Kim Sung-hyun stated, "In all matters, we must prioritize customer-centric thinking and strict ethical awareness as our highest values," adding, "The newly established Risk Review Headquarters, Internal Control Innovation Department, and existing control-related departments will diagnose from the ground up and actively improve to ensure these values are reflected and operate within the company-wide work processes and decision-making systems."

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