New KB chief vows mutual growth with society

KB Financial Group's new chairman Yang Jong-hee speaks during his inauguration ceremony at the group's headquarters in Seoul, Tuesday. Courtesy of KB Financial Group

KB Financial Group's new chairman Yang Jong-hee promised to foster mutual growth with society, during a ceremony marking his inauguration to the position at the group's headquarters in Seoul, Tuesday.

"I have asked myself about KB's role at this moment and the calling that lies ahead of us," Yang said.

Yang, who joined the group in 1989, recounted his interactions with diverse customers, ranging from young entrepreneurs to married couples buying a new apartment. He explained how these encounters helped him gain a deep understanding of the duties and responsibilities financial businesses have towards their clients.

"The struggles of small business owners and self-employed individuals for recovery after the COVID-19 pandemic, as well as the challenges young people face regarding marriage and having children, have gone beyond being just national issues. They have become challenges for all of society to handle. In these times, the significant roles and responsibilities of finance are more apparent to me than ever," Yang said.

"KB's growth will only be genuinely meaningful when it contributes to the happiness and prosperity of the public at large."

To realize this vision, Yang outlined four key strategies for the future: fulfilling social responsibility, enhancing customer experience, instilling pride in employees and delivering returns to shareholders.

"Companies that strike a balance between financial, customer and social value are the ones that can achieve sustainable progress," Yang said.

"I will continue seeking opportunities for KB to uphold its social responsibilities and to actively engage with society."

Yang emphasized that only the exceptional service provided by finance specialists can lead to the "best experience of customers" and establish a model financial institution free from mishaps. He expressed his commitment to creating a corporate culture where hard-working employees are duly respected and appreciated.

Furthermore, he promised to enhance shareholder value. "Our management will reciprocate our shareholders, who continue giving us their trust and support even in challenging times," he said.