Yang Jong-hee, KB Financial Group Chairman: "In the Next 10 Years, We Will Innovate Half a Step Faster Than Others"

KB Financial Group Shareholders' Meeting
New Inside Director Appointed and Other Agendas Approved

Yang Jong-hee, Chairman of KB Financial Group, stated on the 26th, "The next 10 years will bring far more changes than the past 10 years," adding, "We will respond to the rapidly changing business environment through changes and innovations that are half a step faster than others."

At the regular shareholders' meeting held at the KB Kookmin Bank headquarters in Yeouido, Seoul, Chairman Yang said, "This year, internal and external uncertainties are higher than ever."

He identified efficient management and innovative growth as this year's keywords, emphasizing, "We plan to focus on organizational and structural improvements to transform the entire group."

Specifically, he said, "We will enhance the efficiency and speed of business execution by shifting from managing growth and profitability to capital efficiency based on risk-weighted return."

Regarding innovative growth, he stated, "In areas that can lead future competitiveness such as non-financial businesses and ESG, we will quickly distinguish between what we can do well and what we cannot," emphasizing, "We will actively invest in areas where we excel to achieve meaningful business results in a short period."

Chairman Yang added, "In face-to-face channels, which are KB's strength, we plan to develop branch models optimized for the future business environment," and said, "Regarding technological advancements including artificial intelligence (AI), our top priority is to provide customers with innovative experiences by rapidly adopting the latest technologies to create definite success cases."

At the shareholders' meeting, KB Financial appointed Professor Cha Eun-young of Ewha Womans University’s Department of Economics and Kim Sun-yeop, CEO of Lee Jung Accounting Corporation, as new outside directors. The reappointment of outside directors Cho Hwa-jun, Yeo Jeong-seong, Choi Jae-hong, and Kim Seong-yong was also confirmed. Lee Hwan-joo, President of KB Kookmin Bank, was appointed as a non-executive director.

The board also resolved to establish an Internal Control Committee within the board and approved amendments to the articles of incorporation to include matters related to the establishment and supervision of internal control and risk management policies as subjects for board deliberation and resolution.

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