KB Financial Group Establishes Comprehensive Business Cooperation with Blackstone

(From left) Steven Schwarzman, Founder and Chairman of Blackstone Group; Yang Jong-hee, Chairman of KB Financial Group; Lee Bok-hyun, Governor of the Financial Supervisory Service.

KB Financial Group announced on the 20th that it has signed a Memorandum of Understanding (MOU) to establish a comprehensive business cooperation relationship with Blackstone, the world's largest private equity firm.

According to KB Financial, the MOU was signed on the afternoon of the 16th (local time) at the Conrad New York Downtown following the 'Invest K-Finance' event, with the attendance of Lee Bok-hyun, Governor of the Financial Supervisory Service, Stephen Schwarzman, Founder and Chairman of Blackstone Group, and Yang Jong-hee, Chairman of KB Financial.

Blackstone is the world's largest alternative asset manager, managing over 1 trillion dollars. Since its launch in 1985 as a private equity specialist, it has invested in various fields and assets worldwide, including private equity, real estate, infrastructure, life sciences, growth stocks, credit, real assets, secondary funds, and hedge funds.

KB Financial has cooperated with Blackstone in alternative asset funds and financing areas, and with the signing of this MOU, plans to strengthen mutual cooperation by expanding joint investments in various fields to enhance corporate value.

Chairman Yang said, “I understand that Blackstone continues to achieve successful investments across diverse asset classes worldwide through thorough analysis and risk management, while also employing innovative and creative approaches. We will take the lead in expanding South Korea’s financial industry into overseas asset management by actively discovering new investment opportunities not only in the domestic market but also in overseas markets.”