KB signs MOU with law firms to bolster legal support for wealthy customers

Choi Jae-youg, third from left, vice president in charge of wealth management and pension at KB Financial Group, poses with Jeon Byoung-ha, fourth from left, representative partner at Bae, Kim & Lee and other experts from KB and the law firm after signing an MOU at KB Securities' headquarters in Yeouido, Seoul, Wednesday. Courtesy of KB Financial Group

By Yoon Ja-young

KB Financial Group signed an MOU with two of the country's leading law firms ― Shin & Kim and Bae, Kim & Lee ― to bolster its legal consulting service for its wealthy customers.

According to KB, the MOU aims at upgrading its Family Office Service provided to KB Gold&Wise the First customers. Under the Family Office Service program, KB has been offering total consulting services for individuals, families and businesses, where they can get tailored solutions based on lifecycles and business operation stages.

Following the MOU, KB Kookmin Bank and KB Securities will be offering in-depth legal services for the whole span of asset management, including inheritance of business from father to son, M&A and living trusts.

It plans to expand the MOU to accounting firms, overseas real estate corporations and U.S. tax accounting firms, to offer its customers additional support in tax filing, purchases, sales and real estate development nationally and internationally and for paying taxes in the U.S.

“Through collaboration between our KB Family Office team and outside experts, we now can suggest the upgraded optimal solution for customers. We hope to continue leading the growth and development of the country's wealth management sector,” said Choi Jae-young, vice president in charge of wealth management and pension at KB Financial Group.