Strengthening the Implementation of Stewardship Code

KB Financial Group adopted the Stewardship Code for the first time among Korean financial groups. KB Kookmin Bank, KB Securities, KB Insurance, KB Asset Management, KB Life Insurance, and KB Investment are now incorporating Stewardship Code into business practice. With the stewardship code in place, we aim to strengthen our roles and responsibilities as institutional investors in protecting and growing customers' assets by promoting mid-to-long term growth of investee companies integrating not only the financial performances but non-financial ESG aspects.

Stewardship Code
Standards that institutional investors holding the shares of publicly listed companies should follow to fulfill their fiduciary duties as a steward managing the assets entrusted by clients

KB’s Best Practices in Governance

Our corporate governance is highly recognized for its soundness because we have revamped the CEO succession procedure, enhanced internal control, introduced the stewardship code in advance, and independently operated the Board. As a result of our efforts, we have been ranked the best company in corporate governance for two consecutive years.

Best Practices Recognized by the KCGS Governance Evaluation in 2019

Sound board operation
Enhancement of the Board’s independence by organizing the Audit Committee, CEO Nominating Committee, and Evaluation and Compensation Committee with only non-executive directors
Systematic management succession program
Enhancement of the competence of the internal CEO candidates, enhancement of the CEO succession program, and creating programs to improve the understanding of the CEO Candidate Nominating Committee
Execution of the Stewardship Code at the group level
Monitoring of the implementation of stewardship code at the group level by the Board of KB Financial Holdings