Ihwanju, KB Kookmin Bank President: "A Partnership Based on Trust"

Inaugurated on the 2nd, First Step Visiting Yeouido Sales Department

▲ Lee Hwan-joo, President of KB Kookmin Bank

KB Kookmin Bank announced on the 2nd that Lee Hwan-joo has been inaugurated as the 9th bank president.

Before the inauguration ceremony on the same day, President Lee expressed his condolences, saying, "First, I pray for the souls of those who tragically lost their lives in the passenger plane accident."

President Lee said, "On my first day at work after being appointed as bank president, I emphasized the word 'trust' five times," adding, "Having been with KB for over 30 years, I have experienced and strived to practice that nothing is stronger and more precious than 'companionship' based on trust."

He continued, "There is a tradition among KB Kookmin Bank employees, both predecessors and successors, to fulfill their roles and sow the seeds for the future with the mindset of 'Seokgwabulshik (碩果不食)'," and mentioned, "If you want to go fast, go alone; if you want to go far, go together."

Based on trust, President Lee presented a vision for the bank to 'grow together' with customers, society, and employees and to 'go far' by becoming ▲ a bank that sells trust ▲ a bank that redefines business ▲ a bank that finds and executes the 'optimal' means according to the purpose ▲ a bank that grows through harmony and balance.

He emphasized, "We must become a bank that sells 'trust' to customers and society, beyond just selling financial products," and added, "It is important that customers feel that 'KB Kookmin Bank is different' through ethical and principled business practices."

He further stated, "We must ensure that customers think of KB Kookmin Bank first at every moment," and added, "Creating a warm and close trust relationship like a 'KB fan club' is KB Kookmin Bank's value and true identity, and we must pave the 'path of trust'."

President Lee also said that the bank must look outward and innovate by 'refreshing' itself. He said, "We need to insightfully redefine and redesign the purposes and means of each business area such as retail, corporate finance, asset management, and capital markets from an essential perspective."

Additionally, he posed the question, "Where should KB's unique competitive edge come from?" and emphasized, "Focusing on the 'purpose' and finding the optimal 'means' to 'execute' is the core."

He said, "In a situation where most competitors have similar strategic directions as now, 'small differences' accumulate to create big differences, and the ability to execute to create those 'small differences' determines the outcome of the competition." President Lee warned against confusing means and purposes and stressed the need to have insight that sees the whole forest without missing the details of each tree.

He said, "All employees should have the mindset of a 'whistleblower' and be able to raise their voices," and added, "Let's build KB Kookmin Bank where autonomy and discipline harmonize and balanced thinking is practiced."

Finally, he concluded his New Year's address by saying, "KB Kookmin Bank and South Korea share many similarities; when faced with difficulties, neither of us hesitated or gave up but overcame them by coming together stronger," and added, "Let's believe in KB's potential and 'No.1 DNA' and start a 'new companionship' toward KB Kookmin Bank's dreams and future together."

Meanwhile, immediately after the inauguration ceremony, President Lee's first step was to visit the Yeouido branch to meet with customers. He met with customers who have maintained a long-standing trust relationship for over 30 years, from their first savings and first salary with KB Kookmin Bank to the moments of opening their children's and grandchildren's first accounts, and expressed his gratitude and New Year's greetings.