Only One CEO Changed Among 8 KB Financial Group Affiliates... Stability Over Change

From the top: Park Jeong-rim and Kim Seong-hyun, CEOs of KB Securities; Kim Ki-hwan, CEO of KB Insurance; Lee Hyun-seung, CEO of KB Asset Management; Hwang Su-nam, CEO of KB Capital; Seo Nam-jong, CEO of KB Real Estate Trust; Kim Jong-pil, CEO of KB Investment; Jo Soon-ok, CEO of KB Credit Information; Kim Myung-won, CEO of KBDS

[Asia Economy Reporter Bu Aeri] On the 15th, KB Financial Group held the Subsidiary CEO Candidate Recommendation Committee (Daechu Committee) and recommended CEO candidates for eight subsidiaries, including KB Securities and KB Insurance.

The recommended candidates will be finalized at the shareholders' meeting through the final review and recommendation by the respective subsidiary Daechu Committees within this month.

Among the eight subsidiaries whose terms expire at the end of December, the Daechu Committee re-nominated the current CEOs for seven subsidiaries: KB Securities, KB Insurance, KB Asset Management, KB Capital, KB Real Estate Trust, KB Investment, and KB Credit Information. The re-nominated CEOs will serve a one-year term.

For KB Data Systems, the committee newly recommended Kim Myung-won, Head of IT Service Group at KB Kookmin Card (Executive Director). Candidate Kim plans to lead growth as a digital and IT specialized company based on a balanced business perspective and IT expertise. The new CEO’s term is two years.

Park Jung-rim, CEO in charge of the Wealth Management (WM) division at KB Securities, was recognized for maintaining the growth of WM assets despite unfavorable conditions such as interest rate hikes and stock market downturns, and for possessing leadership capable of guiding KB Securities to become a ‘Top 2 securities firm in the industry’ providing optimal investment solutions through balanced growth across business sectors and digital innovation.

Kim Sung-hyun, CEO in charge of the Investment Banking (IB) division, was highly evaluated for achieving the industry’s first Quadruple Crown (DCM, ECM, M&A, Acquisition Finance) despite the overall downturn in the securities industry.

Kim Ki-hwan, CEO of KB Insurance, contributed to stable growth by expanding net profit and securing capital soundness since his appointment. He was recognized for possessing stable organizational management leadership capable of optimal response based on value management in a situation requiring ‘crisis management leadership’ to prepare for uncertainties in the insurance industry.

Lee Hyun-seung, CEO of KB Asset Management, was highly evaluated for his expertise in driving balanced growth in securities and alternative investments based on proven know-how and experience in the capital market.

Hwang Su-nam, CEO of KB Capital, was recognized for his work ability to seek new opportunities in the automotive finance sector competition based on his long experience and broad understanding of the capital industry.

Seo Nam-jong, CEO of KB Real Estate Trust, received positive evaluations for his management ability to lead qualitative growth through strengthening soundness and internal stability despite the unfavorable environment expected from the real estate downturn.

Kim Jong-pil, CEO of KB Investment, was acknowledged for his execution capability to solidify the position as a ‘distinctive investment firm’ with global competitiveness through expanding influence in the market.

Jo Soon-ok, CEO of KB Credit Information, was highly evaluated for enhancing core business competitiveness by maximizing bond recovery capabilities and promoting diversified and solid business areas since her appointment, as well as for execution ability to build a sustainable management foundation through management efficiency.

A Daechu Committee official stated, "The recommended candidates are already proven leaders in terms of capability and performance, and it is expected that they will greatly contribute to overcoming the crises faced in the turbulent and increasingly uncertain challenges, and to establishing KB Financial as a leading financial group with a solid position."

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