KB Financial Group announced Wednesday that it earned the title of the first and only Korean financial firm to receive the top AAA rating on the 2022 MSCI ESG Index -- an index organized by Morgan Stanley Capital International which evaluates companies based on their environmental, social and governance performance. The MSCI ESG Index measures a company’s management of long-term, financially relevant ESG risks and opportunities relative to their peers, according to MSCI. The rating categor

KB Financial Group has signed a memorandum of understanding with the Korea Chamber of Commerce and Industry jointly to provide special loans for small and medium-sized enterprises making environmental, social and corporate governance efforts. KB Financial Group Vice Chairman Yang Jong-hee and Woo Tae-hee, executive vice chairman of the KCCI, gathered at the KCCI headquarters in Seoul on Thursday to sign the memorandum. "Based on this MOU, KB Financial Group plans to provide various and ex

Choi Min-jeong grabbed a silver medal at the International Skating Union (ISU) World Short Track Championships in Seoul on Saturday after finishing behind her Dutch rival Suzanne Schulting. The South Korean Olympic champion placed second in the women's 1,500 meter finals of the 2023 KB Financial Group ISU World Short Track Speed Skating Championships held at Mokdong Ice Rink in western Seoul. The 24-year-old came across the line in 2:31.448 behind Schulting despite efforts to overtake her.

More than 90 percent of real estate experts predicted a decline in housing prices this year, while 1 in 2 said the housing market could see a rebound next year, according to a KB Financial Group report released Sunday. The report said transaction prices of houses nationwide fell 1.8 percent last year, a first in 10 years. Daegu showed the highest decline with 5.2 percent, followed by Daejeon with 4.4 percent and the greater Seoul area with 2.7 percent. The number of transactions also plunged alm

South Korean stocks closed marginally higher Friday, on growing hopes that the US Federal Reserve could go for smaller interest rate hikes despite data showing a resilient economy. The local currency gained sharply against the US dollar. The benchmark Korea Composite Stock Price Index added 4.22 points, or 0.17 percent, to finish at 2,432.07. Trading volume was moderate at 363.8 million shares worth 7.73 trillion won ($5.93 billion), with gainers outnumbering decliners 467 to 410. Federal Reserv

South Korean stocks closed moderately higher Tuesday amid worries the US Federal Reserve's monetary tightening may last for longer than expected. The local currency ended almost flat against the US dollar. The benchmark Korea Composite Stock Price Index rose 10.21 points, or 0.42 percent to 2,412.85. Trading volume was moderate at 518.1 million shares worth 8.9 trillion won ($6.72 billion) with gainers outnumbering decliners 504 to 362. "Investors have become quite immune to the negati

KB Financial Group on Monday pledged to donate 50 billion won ($38.5 million) in donations over the course of five years from this year to 2027 to add forces to the Ministry of Education’s plans to advance the nation’s elementary care system. KB’s donation will be used mainly to support the Neulbom School service, an edu-care service operated by the Education Ministry that simultaneously cares for and offers diverse and flexible after-school activity programs for elementary sch

FAIRFAX, Va., Feb. 16, 2023 /PRNewswire/ -- The Stevie® Awards, organizer of the world's premier business awards programs, announced that they have revised the schedule for the 2023 (10th annual) Asia-Pacific Stevie Awards. The final entry deadline for the 2023 Asia-Pacific Stevie Awards has been extended to March 17. By popular demand, the final entry deadline has been extended to March 17. The judging process will extend through March 26. The Gold, Silver, and Bron

Local banks are hurriedly laying out plans to carry out profit-sharing corporate social responsibility activities after President Yoon Suk Yeol condemned them for enjoying hefty bonuses even as people suffer under higher interest rates. But the efforts appear to be falling short of quelling public criticisms. According to the Korea Federation of Banks on Wednesday, its new social corporate responsibility project will bring a support effect of around 10 trillion won ($7.8 billion) to society ov

Over the years, South Korea has been making continuous efforts to win the top grade of the one of the world's most recognizable stock indices developed by Morgan Stanley, in hopes to attract more global investors and prove the growing international credibility for the economy. The assets under management benchmarked to the Morgan Stanley Capital International indices, which widely tracks global equity benchmarks for stock market performances, has mounted up to $13.5 trillion. Listed on the Emerg

South Korea’s top four financial groups -- Shinhan, KB, Hana and Woori – saw their combined net profit last year hitting a record high of 15.85 trillion won ($12.53 billion), largely buoyed by robust interest. This figure broke last year’s record of 14.54 trillion won, as there was an 8.99 percent increase in net profit on-year. Shinhan reclaimed the top position among the four financial firms in Korea by posting a net profit of 4.64 trillion won. Following Shinhan, KB marked

South Korean stocks opened lower Thursday, driven by big-cap tech losses, as US shares ended lower on concerns over the Federal Reserve's continued monetary tightening. The benchmark Korea Composite Stock Price Index (KOSPI) shed 15.03 points, or 0.61 percent, to 2,468.61 in the first 15 minutes of trading. Overnight, US shares ended lower after Fed Gov. Christopher Waller said he's "prepared for a longer fight to get inflation down" and interest rates need to remain high for

Shinhan Financial Group reclaimed the top position among financial firms in Korea by posting net profit outpacing other players last year. According to Shinhan's earnings report released Wednesday, its net profit marked 4.64 trillion won ($3.68 billion) in 2022, surpassing its cross-town rival KB Financial Group’s net profit by more than 200 billion won. Since KB’s net profit outperformed Shinhan for the first time in 2017, the two top-tier banking groups have been running a nec

At times of high financial volatility, Korean fintech firm Fint’s artificial intelligence-powered investment service designed for minimizing risk can play its part, said an executive from the startup behind the service. Launched by startup December & Co. in 2019, Fint is a digital version of a fund manager that implements an investment strategy and manages the portfolio through trading activities in global exchange-traded funds based on its AI engine named ISAAC. "The service hi

KB Financial Group Chairman Yoon Jong-kyoo delivers a speech during the investor conference KB Investor Insights 2023, held via the financial giant's metaverse platform on Tuesday. During the event, the chairman pledged to boost investor profitability by upgrading expertise and risk-management know-how. (KB Financial Group)