Park Bong-kwon, CEO of Kyobo Securities, Successfully Secures Third Term

Bongkwon Park, CEO of Kyobo Securities

Kyobo Securities announced on the 26th that it has resolved the agenda to reappoint CEO Park Bong-kwon at the regular shareholders' meeting.

CEO Park has been serving as the CEO of Kyobo Securities since 2020. He was reappointed in 2022 and succeeded in a third term through reappointment at this regular shareholders' meeting. Park's term lasts until March 2026, and he leads management in a co-CEO system with CEO Lee Seok-ki.

In his first year in office in 2020, CEO Park recorded a net profit of 103.9 billion KRW, achieving the highest profit in the company's history. The following year, he surpassed this record by achieving a net profit of 143.3 billion KRW within one year.

Despite a decline in trading volume and sluggish real estate project financing (PF) last year, proactive risk management and a management strategy focused on selection and concentration demonstrated resilience in times of crisis.

Last year, the company achieved a consolidated net profit of 67.6 billion KRW, marking a strong performance with a 56% increase compared to the previous year. This ranks first in annual performance among mid-sized securities firms with less than 2 trillion KRW in equity capital.

Additionally, Kyobo Securities is accelerating its entry into the comprehensive financial investment business operator (CFIBO) sector, a mid- to long-term growth goal. The equity capital size increased by an impressive 95% over four years, from 960.9 billion KRW in 2019 before Park’s appointment to 1.8773 trillion KRW in 2023.

As a result, during the same period, the liquidity ratio rose significantly from 125.6% to 155.7%, and the net capital ratio increased from 434.9% to 830.4%, securing stable financial soundness.

This year, to accelerate growth through expanding existing businesses and discovering new ones, the company has set three strategic directions: 'Scale up', 'Restructuring', and 'New business', placing more emphasis on change than stability to speed up growth.

On the 20th, Kyobo Securities held a management strategy meeting at the Korea Financial Investment Association to seize the market through change and innovation, consistently pursuing efforts to secure new growth engines.

The key business directions focus on investing in core business sectors such as Investment Banking (IB), Sales and Trading (S&T), and new growth sectors including Venture Capital (VC), carbon emission rights, and digital asset businesses to enhance future profits.

Meanwhile, Kyobo Securities has been steadily implementing a shareholder return policy for minority shareholders. Since 2020, it has maintained differential dividends, and since last year, it has continued a no-dividend policy for major shareholders. At this shareholders' meeting, the agenda to pay 250 KRW per common share to minority shareholders and no dividends to major shareholders was also resolved.

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