The candidate for the next chairman, Lee Jae-geun, has received final recommendations from the Chairman Candidate Recommendation Committee and the board of directors, marking a significant step toward a leadership transition. The new chairman's regime is expected to accelerate personnel renewal, including generational change, and a business restructuring centered on artificial intelligence (AI), as well as the expansion of productive and inclusive finance.
KB Financial announced on October 2 that it has decided to present Lee as a candidate for an inside director at an extraordinary general meeting scheduled for October 20.
A KB Financial official stated, "Lee has received final recommendations from the nomination committee and the board, and the review process for the candidate has been completed."
If the proposal passes at next month's general meeting, Lee will lead KB Financial for three years starting November 21.
Attention in the financial sector is focused on the first appointments following the launch of the new chairman's regime. With the nomination committee emphasizing the need for generational change in selecting Lee, it is anticipated that there will be significant changes in year-end executive and subsidiary CEO appointments.
However, the upcoming changes are expected to prioritize performance and expertise over mere age. Lee stated during a press encounter on his way to work at KB Financial's new headquarters in Yeouido on September 14, regarding the subsidiary CEO appointments, "We will focus on capabilities and expertise, how well they engage with employees, and how they can inspire commitment from organizational members, rather than being limited by age."
The digital transformation centered on AI is also expected to gain momentum. Lee has defined the next five years as a critical period for the financial group's survival, emphasizing that failure to adapt to AI changes could jeopardize the group's future. Consequently, group-wide AI investment, operational innovation, and the consolidation of digital capabilities among subsidiaries are likely to become key tasks for the new regime.
Additionally, productive finance and inclusive finance are expected to be significant pillars of Lee's leadership. KB Financial plans to supply a total of 110 trillion won, including 93 trillion won for productive finance and 17 trillion won for inclusive finance, by 2030.
Notably, Lee has emphasized that "growing together with customers, investors, and society is the hallmark of a leading financial group," suggesting that alongside personnel and organizational restructuring, there will be a push to expand productive finance.
KB Financial announced on October 2 that it has decided to present Lee as a candidate for an inside director at an extraordinary general meeting scheduled for October 20.
A KB Financial official stated, "Lee has received final recommendations from the nomination committee and the board, and the review process for the candidate has been completed."
If the proposal passes at next month's general meeting, Lee will lead KB Financial for three years starting November 21.
Attention in the financial sector is focused on the first appointments following the launch of the new chairman's regime. With the nomination committee emphasizing the need for generational change in selecting Lee, it is anticipated that there will be significant changes in year-end executive and subsidiary CEO appointments.
However, the upcoming changes are expected to prioritize performance and expertise over mere age. Lee stated during a press encounter on his way to work at KB Financial's new headquarters in Yeouido on September 14, regarding the subsidiary CEO appointments, "We will focus on capabilities and expertise, how well they engage with employees, and how they can inspire commitment from organizational members, rather than being limited by age."
The digital transformation centered on AI is also expected to gain momentum. Lee has defined the next five years as a critical period for the financial group's survival, emphasizing that failure to adapt to AI changes could jeopardize the group's future. Consequently, group-wide AI investment, operational innovation, and the consolidation of digital capabilities among subsidiaries are likely to become key tasks for the new regime.
Additionally, productive finance and inclusive finance are expected to be significant pillars of Lee's leadership. KB Financial plans to supply a total of 110 trillion won, including 93 trillion won for productive finance and 17 trillion won for inclusive finance, by 2030.
Notably, Lee has emphasized that "growing together with customers, investors, and society is the hallmark of a leading financial group," suggesting that alongside personnel and organizational restructuring, there will be a push to expand productive finance.
* This article has been translated by AI.
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