$KB

KB Financial Group selected Vice Chairman Lee Jae-keun as its new chairman for a three-year term, replacing incumbent Chairman Yang Jong-hee. The decision, finalized at a shareholders meeting on Nov. 20, was made to drive transformation and growth. The group cited Lee's professional experience, leadership, and alignment with its vision. The change aligns with regulatory pushes for governance reforms and transparency in succession. KB Financial reported over 5 trillion won in annual net income in

KB Kookmin Bank said Aug. 18 it signed an Aug. 14 MoU with Seoul law firm Kim & Chang to cooperate on inheritance-related financial services. The partnership targets dispute prevention via legal advisory, plus inheritance consultations for customers with overseas assets and broader legal support. KB Financial Group noted it runs 19 inheritance consulting centers nationwide.

KB Capital said it signed an Aug. 7 agreement with the Gyeonggi-do 1st Automobile Sales Business Association and Incheon Mpark Automobile Sales Business Association to link verified used-car listing data, backed by members’ ownership and transaction histories, to the KB Chachacha platform. The goal is to reduce information asymmetry and expand listings, with KB Capital preparing to launch a related service this year.

KB Kookmin Bank, a unit of KB Financial Group, will launch an August 2026 corporate remittance service using JPMorgan’s Kinexys blockchain platform for USD cross-border transfers to 10 countries plus domestic KR transfers. KB Financial Group reports $552.76B in total assets. Kinexys has processed over $4T cumulatively, with $7B+ average daily activity, according to JPMorgan.

KB Kookmin Bank, part of KB Financial Group, plans to launch in August a blockchain-based cross-border payment service for import and export firms, using JPMorgan’s Kinexys network. The service will initially support US dollar transfers across 10 countries and integrate with SWIFT for near-instant payments and FX settlement, according to local media and Yonhap.

South Korea’s four major financial holding groups reported combined first-half net profit of 11.34 trillion won, up 9.8% year on year, driven by higher fee income from capital-market businesses. KB led with 3.88 trillion won, followed by Shinhan 3.44 trillion, Hana 2.40 trillion and Woori 1.61 trillion. Competition is shifting from banks to securities and asset management.

South Korea’s five largest financial groups reported combined first-half net income of 13.12 trillion won, a record, up 9.7% year over year, driven by a market rally boosting brokerage and asset management fees, according to company filings. KB led with 3.88 trillion won, followed by Shinhan 3.44 trillion and Hana 2.4 trillion. NH and Woori posted 1.78 and 1.61 trillion won.

Bloomberg Intelligence says Korea’s four largest banks, KB, Shinhan, Hana and Woori, should remain resilient in 2H 2026. It expects gross NPL ratios around 0.38-0.42% and steady credit costs. CET1 averaged above 15% in 1H 2026, with a 10 won USD move lowering CET1 by 2-3 bps. Net interest margins may edge up.

Opposition lawmaker Rep. Ahn Cheol-soo criticized KB Kookmin Bank for cutting the mortgage lending limit to 300 million won from 600 million won for residential property purchases, saying it follows government household-debt and real-estate curbs and harms homebuyers. He urged the government to exempt first-time buyers.

POSCO said it signed an MOU with KB Kookmin Bank to launch a supply chain finance service for POSCO partner firms, aiming to improve suppliers’ cash flow during the steel downturn. KB will manage sales payment collection and provide loans and ESG consulting. The firms plan to integrate KB’s loan program into POSCO’s My POSCO platform for a launch within the year.