FSS to Conduct Comprehensive Inspections of KB Financial Group and Kookmin Bank Starting from the 14th
From the 14th of this month to the 23rd of next month
[Asia Economy Reporter Park Sun-mi] KB Financial Group and KB Kookmin Bank will undergo a comprehensive inspection by the Financial Supervisory Service (FSS) from the 14th of this month until the 23rd of next month.
According to the financial sector on the 8th, the FSS announced plans to conduct a comprehensive inspection covering overall management conditions of KB Financial Group and Kookmin Bank from the 14th of this month until the 23rd of next month, and has completed the preliminary data request process. Ahead of the comprehensive inspection, KB Financial Group is preparing by securing office space for the FSS inspection team to work.
While the industry is puzzled that KB Financial Group has been selected for a comprehensive inspection again after two years, it is reported that the preliminary data requested by the FSS from KB Financial Group was at a routine level without any unusual matters. It is expected that an all-encompassing inspection related to management, including KB Financial Group’s governance, global business, and digital sectors, will be conducted.
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The FSS announced that it will conduct comprehensive inspections on 16 financial companies this year. The targets include 2 banks, 3 financial holding companies, 4 securities firms, 2 life insurance companies, 2 non-life insurance companies, 1 asset management company, 1 specialized credit finance company, and 1 mutual finance company, with one inspection already completed. Among these, the FSS has announced that it will start inspections this month on 6 companies, including one bank and one holding company, one securities firm and one holding company, one life insurance company, and one non-life insurance company, including KB Financial Group and KB Kookmin Bank.
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