Latest news with #KBFinancialGroup
CNBC
13 hours ago
- Business
- CNBC
Foreign investors likely to see South Korea's new leader as pro-business: Expert
Peter Kim of KB Financial Group talks about what new South Korean president Lee Jae-Myung's labor policies could look like, and why they are critical for the country's productivity.
Korea Herald
4 days ago
- Business
- Korea Herald
Shinhan board chair leads overseas investor meetings in Asia
Shinhan Financial Group is stepping up efforts to strengthen ties with global investors, dispatching its board chair to lead overseas investor relations meetings across Asia. The South Korean banking group said Sunday that board chair and independent director Yoon Jae-won led a three-day investor relations roadshow in Hong Kong and Singapore last week, from Tuesday to Thursday. It marked the first time a board chair from a listed Korean company independently led such an overseas event. During the sessions, Yoon outlined Shinhan's strategies to enhance corporate value and addressed key risks facing both the group and the broader Korean financial market. She also detailed the board's initiatives to improve governance and foster diversity. Shinhan's top brass have been ramping up efforts to engage foreign investors as the group seeks to attract more overseas capital. In May, CEO and Chairman Jin Ok-dong led a weeklong European roadshow with stops in London, Frankfurt and Warsaw. As of Friday, foreign ownership in Shinhan stood at 58.5 percent, trailing behind local rivals KB Financial Group at 75.4 percent and Hana Financial Group at 66.6 percent. In Hong Kong, Yoon also met with members of the Asian Corporate Governance Association, sharing best practices in governance reform from various countries and discussing the board's role in enhancing corporate trust and advancing sustainable management. 'We believe the board's efforts to enhance governance will serve as the foundation for improving Shinhan's transparency and efficiency, ultimately raising corporate value,' Yoon said. 'I will work to ensure our board meets global standards and earns market confidence.'
![[Photo News] KB Financial tops value-up push](/_next/image?url=https%3A%2F%2Fwimg.heraldcorp.com%2Fnews%2Fcms%2F2025%2F05%2F28%2Fnews-p.v1.20250528.2c8da65743134aa5908c945570d49064_T1.jpg&w=3840&q=100)
Korea Herald
28-05-2025
- Business
- Korea Herald
[Photo News] KB Financial tops value-up push
KB Financial Group Chair Yang Jong-hee (right) poses for a photo with acting Finance Minister Kim Beom-suk during a ceremony marking the first anniversary of the Corporate Value-up Program, held at the Korea Exchange in Yeouido, western Seoul, Tuesday. At the event, 10 best practice companies were recognized for their efforts to enhance market valuation. KB Financial received the top honor, the Deputy Prime Minister's Award. (KB Financial Group)
Korea Herald
28-05-2025
- Business
- Korea Herald
KB Bank taps first non-Korean chief in Indonesia
KB Bank Indonesia has appointed Kunardy Darma Lie, corporate banking director at DBS Bank Indonesia, as its new leader, as the South Korean lender steps up efforts to expand its local presence. Parent company KB Financial Group, Korea's largest financial group, said Tuesday that the board of its Indonesian banking unit approved Kunardy's appointment following the end of former President Director Lee Woo-yeol's term. Kunrady is the first non-Korean to lead KB Bank since the Korean financial group gained control over the lender in 2018. Kunardy brings over two decades of experience at global financial institutions operating in Indonesia, with a deep understanding of the local banking sector and expertise in corporate finance, according to KB. He began his career at Citibank Indonesia, where he held senior positions including managing director and head of corporate and investment banking. He went on to join Deutsche Bank Indonesia in 2014 as managing director and chief country officer, before moving to DBS Indonesia in 2020 as corporate banking director. Starting his tenure, Kunardy laid out strategic priorities including stabilizing operations and building a sustainable profit base, strengthening cost and risk controls, enhancing governance, deepening ties with government and investors and reinforcing brand trust. 'With the new leader's appointment, KB Bank Indonesia aims to reinforce its localized management approach and accelerate its push to become a sustainable and competitive player in Indonesia's financial sector,' the bank said. KB Financial Group has designated Indonesia as its 'second home market,' positioning it as a strategic base for future growth and overseas expansion. The group currently operates seven local subsidiaries across banking, securities, insurance and asset management, ultimately aiming to build a comprehensive financial platform by leveraging groupwide synergies.
Korea Herald
09-05-2025
- Business
- Korea Herald
Seoul shares snap 3-day rise on profit hunting
South Korean stocks fell slightly to end a three-session winning streak Friday as investors hunted for profits by dumping battery and bank shares despite eased tariff woes on a US-Britain trade deal. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index lost 2.21 points, or 0.09 percent, to close at 2,577.27. The index had risen for three consecutive sessions since Friday. The local financial market was closed Monday and Tuesday for the Children's Day and Buddha's Birthday holidays. Trade volume was moderate at 478.2 million shares worth 7.73 trillion won ($5.52 billion), with losers beating winners 535 to 353. Institutions sold a net 187 billion won to lead the daily drop, while foreigners and individuals bought a net 67.3 billion won and 63.1 billion won, respectively. Overnight, US stocks ended higher as a trade agreement between Washington and London boosted hopes for other countries' tariff negotiations. In Seoul, however, battery and bank shares were the lead decliners. Leading battery maker LG Energy Solution fell 2.9 percent to 318,000 won, and Posco Future M sank 4.74 percent to 120,500 won. Major lender KB Financial Group lost 2.65 percent to 92,000 won, and Shinhan Financial Group shed 0.39 percent to 50,700 won. Major shipbuilder Hanwha Ocean declined 0.62 percent to 79,800 won, and flagship air carrier Korean Air retreated 2.22 percent to 22,050 won. However, tech giant Samsung Electronics rose 0.37 percent to 54,800 won, and top carmaker Hyundai Motor increased 1.5 percent to 189,900 won. Naver, the No. 1 online portal operator, added 1.22 percent to 191,000 won, and defense firm Korea Aerospace Industries jumped 5.44 percent to 93,100 won. The local currency was trading at 1,400 won against the dollar at 3:30 p.m., down 3.4 won from the previous session. (Yonhap)
