KB Chairman Candidate Jaegun Lee: "We Won't Settle for the Top Spot... Leading the Group in the Global Market Too"

Leading the Structural Transformation of the Financial Industry with AI and Digitalization
"Capability Over Age": Principles for Year-End Appointments
Decentralizing Chairman's Authority: Focusing on a System and Process-Oriented Organization

Jaegun Lee, Head of Global, Wealth Management, and SME at KB Financial Group and now selected as the next chairman candidate to lead KB Financial Group, expressed his aspiration to firmly establish the group not only as a leading financial group in Korea but also in the global market. He also hinted at his plan to operate the organization in a way where decisions are made through a system, rather than concentrating authority with the chairman.

Jaegun Lee, the next chairman candidate of KB Financial Group, is expressing his feelings about being selected as the final candidate in the lobby of the KB Financial New Building in Yeouido, Yeongdeungpo-gu, Seoul, on the 14th. Photo by Gumboryeong

On September 14, in the lobby of the new KB Financial Building in Yeouido, Yeongdeungpo-gu, Seoul, Jaegun Lee, the chairman candidate of KB Financial Group, met with reporters and emphasized, "KB Financial Group will play a major role in leading the development and transformation of Korea's financial industry, and in solidifying its position as a leading financial group not just in Korea, but also globally."

He continued, "If I am formally inaugurated, I will deeply reflect on how to properly guide KB Financial Group, take on the heavy responsibility, and firmly establish the group's role as Korea's leading financial group, while also considering how to further develop it in the future."

Previously, on September 11, the KB Financial Chairman Nomination Committee conducted in-depth interviews with three candidates—Chairman Jonghee Yang, Division Head Lee, and former Woori Bank President Kwon Kwangseok—finally selecting Lee as the next chairman candidate. Lee is expected to be appointed chairman at an extraordinary general meeting of shareholders in November, following recommendations by the nomination committee and board of directors on October 2.

Lee emphasized that he does not intend to remain complacent at the top, but will instead lead the rapid changes in the financial environment. He stated, "In the first half of the year, KB Financial posted a record-high performance of nearly 3.9 trillion won and reached an all-time high in stock price. I take my appointment as a serious message not to rest on our laurels as the top player, but to keep moving forward based on these outstanding results."

He identified a response to the structural transformation of the financial industry—especially through AI and digitalization—as his top priority. He remarked, "If the financial industry fails to adequately respond to the dramatic changes brought by the AI era over the next three to five years, the future of financial groups will be at stake. I interpret this as a call to keep pace with these changes for the next three to five years, moving forward based on stable performance."

Regarding year-end executive appointments, he laid out a principle to prioritize capability and leadership in line with the generational shift emphasized by the nomination committee. Of KB Financial Group's twelve subsidiaries, the CEO terms of eleven—including Lee Hwanjoo of Kookmin Bank, Lee Honggoo of KB Securities, Koo Bonwook of KB Insurance, and Kim Jaegwan of KB Kookmin Card—will expire this year.

Lee explained, "Rather than simply focusing on age, the idea of a 'younger KB' is about building an organization where decisions can be made more swiftly and responsibly, rather than just conducting a generational change based on years. I will not be limited to age. When considering appointments, I will focus on capability, expertise, how candidates interact with employees, and who can inspire the dedication of the organization members."

He also stated the principle that decisions should be made based on processes and systems rather than concentrating authority with the chairman. "I am thinking hard about how to provide a workplace where employees can truly enjoy their work and about how to inspire greater commitment to the organization," Lee said. "Rather than allowing authority to become overly concentrated, I want to build a large organization that operates through processes and systems."

He went on to stress, "I will focus on creating an organization that moves according to systems and processes, rather than one that relies on the personal abilities of a single individual—a decentralized, sustainable organization."

This content was produced with the assistance of AI translation services.