KB Securities Governance Division Report Card Receives 'A' Grade for 2 Consecutive Years

KCGS ESG Evaluation Report Receives A Grade for 2 Consecutive Years

[Asia Economy Reporter Minwoo Lee] KB Securities received an A grade for two consecutive years in the governance category of the ESG (Environmental, Social, Governance) evaluation conducted by the Korea Corporate Governance Service (KCGS).

KB Securities announced on the 29th that it achieved this result in the '2021 ESG Evaluation' released by KCGS. Since 2003, KCGS has annually assessed the sustainability management levels of domestic listed companies and financial institutions.

This reflects the high evaluation of the ESG management efforts undertaken so far. Previously, KB Securities established the first ESG committee within the board of directors among domestic securities firms last year. In March, the ESG committee derived KB Securities' ESG strategy framework and key initiatives for each focus area.

KB Securities has also actively supplied ESG bonds, ranking first in underwriting domestic won-denominated ESG bond issuances. In 2019, it underwrote a KRW 300 billion social bond issued by Korea Hydro & Nuclear Power, the first by a non-financial general company. It also underwrote the issuance of GS Caltex Green Bonds alongside SK Energy Green Bonds, the first eco-friendly bonds in the manufacturing sector. Subsequently, it underwrote TSK Corporation's Green Bonds and Lotte Holdings' Sustainability Bonds last year, covering 100% of general corporate ESG bond issuances in 2020. This year, it has underwritten LG Chem Sustainability Bonds, Hyundai Steel Green Bonds, as well as social bonds for the Korea Credit Guarantee Fund and the Small and Medium Business Corporation.

Junglim Park, CEO of KB Securities, said, "KB Securities is committed to internalizing ESG management through the expansion of socially responsible investment and enhancing transparency and efficiency in corporate governance." He added, "We will continue to do our best to become a leading company in line with KB Financial Group's ESG management strategy direction."

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