Business leaders have sent congratulatory messages to celebrate the 70th anniversary of The Korea Herald. – Ed. Chey Tae-won, Korea Chamber of Commerce and Industry chairman My sincere congratulations to The Korea Herald on its 70th anniversary. The Korea Herald, then The Korea Republic, was first published to introduce Korean society following the Korean War and to solidify international cooperation. The Korea Herald has witnessed the moments of reconstruction, growth and the Miracle

KB Financial Group Chief Yoon Jong-kyoo has decided not to seek his fourth term, the group said on Sunday, just days before the conglomerate's planned announcement of its shortlist of candidates for the head position. Yoon said he made the decision for the group's "new future and transformation." The incumbent chairman has held the post since 2014 and his three-year-long third term is set to expire on Nov. 20. Yoon also hoped to see a new chief driving sustainable growth, ena

KB Kookmin Bank said on Sunday that it has received final approval to merge its two affiliates in Cambodia ― Prasac Microfinance and Kookmin Bank Cambodia ― on Friday. This announcement came after the bank sought the green light from Cambodian authorities to merge its two affiliates and launch a new commercial bank, KB Prasac Bank, in early 2022. Preliminary approval for this new commercial bank was granted July 16. In 2009, KB Kookmin Bank made its initial entry into the Cambodian market with t

Bank KB Bukopin, the Indonesian subsidiary of Korean lender KB Kookmin Bank, has continued its loss-making run in the first half of the year, with its losses reaching over 1.49 trillion rupiah ($98.1 million) as of the end of May, according to data Wednesday. It also showed a notable surge from the loss of 26.82 billion rupiah recorded in the first quarter, indicating a dramatic increase in losses over just the two-month period. The incurred loss holds significance for KB Kookmin Bank, as Indone

KB Financial Group reclaimed its position as the top financial group in Korea with a net profit of 2.99 trillion won ($2.34 billion) in the first half, surpassing other players. The group's flagship KB Kookmin Bank also regained the leading bank title with a net profit of 1.85 trillion won in the same period. Although KB set aside more than 1.31 trillion won for bad debt reserves in the first half of 2023, the expansion of net interest income and robust profits from nonbanking businesses dr

  KB Financial Group on Thursday announced the details of its candidate selection process for a new chairman ahead of the upcoming shareholders’ meeting, set to take place in November. The group's Chairman Candidate Recommendation Committee held its first meeting on Thursday and decided on the procedure to shortlist candidates. On Aug. 8, the committee plans to draw up a shortlist of six candidates, and on Aug. 29, it will conduct the first round of interviews and narrow down the sh

South Korean financial giant KB Financial Group hopes to become a company that can have a good influence on the community, its chairman said Friday. “We will all make efforts to become a purpose-driven firm that has a positive influence on the community,” Chairman Yoon Jong-kyoo said at the group’s strategy meeting held at a Seoul hotel under the title "Toward the Future.” The meeting was held to discuss management strategies for the latter half of 2023 to seek cha

KB Financial Group Chairman Yoon Jong-kyoo said Tuesday he is joining the "Zero Disposables Challenge," a campaign launched by the Minister of Environment Han Hwa-jin in February to encourage using more reusable products than disposables. The KB chief encouraged the public to join forces, saying "Even small actions that consider the environment can be widespread."

KB Financial Group Chairman Yoon Jong-kyoo (fourth from right, third row) on Thursday poses for photos with Korean and Indonesian university students who are competing in the 2023 KB Solveathon debate competition, held at the KB Insurance Ingenium Suwon building in Suwon, Gyeonggi Province. During the competition, participants engage in presentations and debates for around 42 hours to discover the best solution for the future of finance. The final round takes place in Seoul on July 13.

South Korean stocks closed lower Wednesday with investors waiting for the release of the minutes of the US Federal Open Market Committee's June meeting this week. The local currency rose against the US dollar. After starting marginally higher, the benchmark Korea Composite Stock Price Index sank 14.31 points, or 0.55 percent, to close at 2,579.00. Trading volume was moderate at 589.2 million shares worth 10.05 trillion won ($7.7 billion), with decliners outnumbering gainers 632 to 243. Fore

South Korean stocks turned a tad lower after starting marginally higher on Wednesday ahead of the release of China's purchasing managers' index. The benchmark Korea Composite Stock Price Index fell 2.17 points, or 0.08 percent, to 2,591.14 in the first 15 minutes of trading. Wall Street was closed Tuesday for the Independence Day holiday. Later in the day, China is set to release the Caixin purchasing managers' index. In Seoul, most large-cap shares opened in negative terrain. Mar

South Korean stocks closed lower Tuesday as investors sought to cash in recent gains. The local currency rose against the US dollar. After choppy trading, the benchmark Korea Composite Stock Price Index sank 9.16 points, or 0.35 percent, to close at 2,593.31. Trading volume was moderate at 662.9 million shares worth 9.02 trillion won ($6.93 billion), with decliners outnumbering gainers 586 to 292. Foreigners and institutions sold off a net 345.4 billion won worth of stocks, while retail investor

South Korean stocks closed higher Friday after the country's economic data showed improvement in industrial output, private spending and facility investment. The benchmark Korea Composite Stock Price Index climbed 14.26 points, or 0.56 percent, to 2,564.28. Trading volume was moderate at 498.9 million shares worth 8.04 trillion won ($6.1 billion) with gainers outstripping decliners 612 to 260. The index opened lower on losses of large-cap tech stocks and investors' woes over expectatio

KB Financial Group is hosting a networking event in Korea from Monday to Friday this week with 106 selected employees from overseas. The employees are from the group's five subsidiaries -- KB Bank, KB Securities, KB Insurance, KB Kookmin Card, and KB Capital -- based in 14 different countries. The invited employees are participating in programs including town hall meetings with the chairman, special meetings organized by each subsidiary and Korean cultural experience programs. In partic

KB Financial Group, the leading financial services provider in South Korea, said Sunday it has signed a memorandum of understanding with Japanese insurance giant Sompo Holdings with an aim to facilitate collaboration in developing customized nursing care services. The signing ceremony was held at Sampo’s headquarters in Tokyo on Thursday, with KB Financial Chairman Yoon Jong-kyoo and Sampo Holdings Chairman Sakurada Knego in attendance. Sompo Holdings is Japan's largest insurance grou