Yoon Jong-kyu, Chairman of KB Financial Group, "The Goal of the Number One Financial Platform is Customer-Centric"

2022 First Half Group Management Strategy Meeting

[Asia Economy Reporter Park Sun-mi]"The ultimate goal of the number one financial platform is to provide a customer-centric digital platform based on 3S (Simple, Speedy, and Secure), enabling 36 million customers to conveniently use one-stop services within KB Financial Group."

Yoon Jong-kyu, Chairman of KB Financial Group, who set the group's management strategy direction as 'R.E.N.E.W,' gathered about 260 executives, including those working at overseas subsidiaries, on one screen on the 7th. At the '2022 First Half Group Management Strategy Meeting,' held via video conference, Chairman Yoon presented the ultimate goal of the 'number one financial platform' he has emphasized so far. Chairman Yoon's vision to grow KB Financial Group into the number one financial platform has been further specified as a customer-centric digital platform that can provide the best customer experience and one-stop services through digital technology.

Chairman Yoon first focused on discussing KB's management strategy direction during the morning session of the management strategy meeting. The ‘R.E.N.E.W’ strategy, which Chairman Yoon also mentioned in his New Year's address, consists of five directions: Strengthening core competitiveness (R), Expanding global and non-financial business areas (E), Expanding the role of KB Star Banking (N), Securing differentiated ESG leadership (E), and Fostering top talent and realizing an open and creative organization (W). This is KB Financial Group's mid- to long-term management strategy.

Centered on ‘R.E.N.E.W 2022,’ Chairman Yoon shared and communicated the goals and mindset that executives should keep in mind throughout the year. He also shared insights on strategies to become winners in the ‘era of great gaps,’ where the difference between winners and losers becomes stark, and the direction KB should take in the future financial industry.

Chairman Yoon did not forget to emphasize the importance of ESG (Environmental, Social, and Governance) management. He said, "ESG is an unstoppable trend and the flow of the times," adding that through ESG investment and financing, financial companies should swiftly fulfill their fundamental roles, and especially for small and medium-sized enterprises (SMEs) that are relatively vulnerable to ESG, more support should be provided through win-win policies."

In the afternoon, there were sessions for four business groups led by Vice Chairmen Heo In, Lee Dong-cheol, Yang Jong-hee, and General Manager Park Jung-rim.

The business groups were reorganized by expanding existing business divisions to enhance inter-division linkage, cooperation, and reinforcement. They consist of the Personal Customer Division, Asset Management (WM), Pension Division, and SME Division led by Vice Chairman Heo In; the Global Division and Insurance Division led by Vice Chairman Lee Dong-cheol; the Digital Division and IT Division led by Vice Chairman Yang Jong-hee; and the Capital Markets Division and Corporate & Investment Banking (CIB) Division led by General Manager Park Jung-rim. At the meeting, through presentations of the ‘2022 Key Promotion Plans’ by each business group, passionate discussions were held to expand synergy between divisions and prepare execution plans.

In the final session, ideas related to ▲differentiated financial platforms, ▲strengthening corporate finance and investment capabilities, and ▲solidifying global business were presented and discussed. The ideas proposed by the executives will be reviewed by the respective departments of affiliated companies, concretized, and promptly executed.

Closing the meeting, Chairman Yoon urged, "Let all employees become one team and one KB to build strong teamwork," and emphasized, "We must persistently strive to achieve sustainable growth by coexisting and collaborating with all KB stakeholders, including customers and society."

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