KB Financial Group Holds 3rd Financial Consumer Protection Business Council

Chief Consumer Protection Officers from 10 Subsidiaries Attend

Measures to Strengthen Expertise and Continuity in Consumer Protection Organizations

Special Lecture by External Expert to Integrate Insights into Operations

KB Financial Group announced on August 26 that it held the “3rd Financial Consumer Protection Business Council” on August 24, with the aim of enhancing its employees’ expertise in consumer protection and establishing a consumer-centric work system throughout the group.

The council was attended by the chief heads of financial consumer protection from ten subsidiaries of the group, including KB Kookmin Bank, KB Securities, KB Insurance, KB Kookmin Card, and KB Life Insurance. The agenda included measures for operating products and services centered on consumers, strengthening the expertise of consumer protection organizations, and refining the Consumer Protection Quality Index (CPQI) for KB Kookmin Bank.

Participants reviewed the principles for designing and operating consumer processes such as product subscription and termination—especially focusing on actual customer complaint occurrences and resolutions. They also shared measures for enhancing the expertise and continuity of their consumer protection organizations. Based on these discussions, KB Financial Group plans to go beyond simply taking follow-up actions on individual complaints and instead strengthen a system to proactively identify potential customer inconveniences and harm throughout the entire product and service cycle.

In addition, the group will continue to refine its personnel management system for consumer protection, by assigning employees with relevant experience in fields closely related to consumer protection—such as product development, sales, and legal affairs—to the consumer protection department, enabling them to accumulate specialized expertise through related work.

The meeting also included a discussion on the current status and advancements of the Consumer Protection Quality Index (CPQI), which is managed by KB Kookmin Bank. The CPQI is a data-driven management indicator that measures the overall level of consumer protection across products and services.

An invited lecture by an external expert was also held. Mi-Young Kim, former Head of the Financial Consumer Protection Bureau at the Financial Supervisory Service, explained recent policies and supervisory directions for financial consumer protection and shared her field experience regarding the strengthening of consumer protection systems and the role of the Chief Consumer Officer (CCO) within financial institutions.

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