KB Financial Group released the 2023 Social Value Report on Sept. 18.
The report says that KB Financial Group’s ESG management activities created a total of 5.698 trillion won in social value last year.
KB Financial Group measures its ESG management activities’ impacts on the environment and society by calculating their monetary value every year, and shares it with various stakeholders, such as customers, shareholders and investors, and local communities through the publication of the Social Value Report.
KB Financial Group’s social value includes both value generated from general social contribution activities (the non-financial sector) and value created from financial products and services (the financial sector), utilizing the inherent capabilities of the financial business.
It is composed of environmental, social, governance and other items.
The amount of social value evaluated this time is approximately 60.6 percent higher than the amount (3.54 trillion won) measured in 2022.
The number of businesses to be measured has expanded from 311 to 476 during this period.
By category, the value hit 302.7 billion won in the Environment category; 2,381.4 billion in the Social category; and 3,014.3 billion won in the Governance and Others category.
In particular, in the Social category, 747 billion won was spent on financial support for the growth of small businesses; 643.9 billion won on financial support for the growth of venture startups and medium-sized enterprises; 240.5 billion won on customer information security and financial consumer protection; and 64.2 billion on childcare through the construction of local daycare centers, which KB Financial Group is jointly promoting with the Korean Ministry of Education.
In the Governance and Others category, 271.7 billion won was reflected as a return to shareholders according to the Treasury Stock Cancellation Program implemented as part of the Corporate Value Enhancement Program to enhance sound governance and promote a corporate culture that respects shareholder value.
KB Financial Group Women’s Amateur Golf Championship
The 17th KB Financial Group Women’s Amateur Golf Championship was successfully held by KB Financial Group with the Korea Golf Association at the Century 21 Country Club in Wonju of Gangwon Province from Sept. 25 to 27.
Now in its 17th year, the KB Financial Group Women’s Amateur Golf Championship has been the first step to a successful career for Korean women’s golf stars.
Its previous winners include Kim Hyo-joo (2009) and Ko Jin-young (2012) who are now major female golfers on LPGA Tours.
Kim Yeon-seo finished atop the leaderboard with a three-round total of 11-under-par 205 on Sept. 27.
“We will spare no effort to create an environment and support for the growth of Korean golf prospects,” said a representative of KB Financial Group.
”We hope that young talented Korean golfers will grow into world-class golfers through this tournament and that they will give dreams and hope to the Korean people.”
Prize Money for Korean Paris Olympic Medalists
KB Financial Group granted prize money of 200 million won to give encouragement to the Korean Olympic Team in Paris at the “Thank You, Team Korea” Event held at the Olympic Parktel in Seoul on Sept. 13.
KB Chairman Yang Jong-hee and Lee Kee-heung, president of the Korea Sports Council, praised Korean athletes and their leaders for their outstanding performances at the Paris Olympics at the event.
The Most Valuable Player (MVP) Award went to Kim Woo-jin and Lee Im-hyun, who emerged as national heroes by winning three archery titles, the Achievement Award to Kim Woo-min, who won Korea’s first medal in swimming since 2012, the Fighting Spirit Award to gymnast Yeo Seo-jung who gave an inspiring performance despite an injury and the Challenge Award to Lee Won-ho who claimed fourth place in the 10m air pistol event.
“KB Financial Group would like to express our sincere gratitude to Korea’s national athletes for their outstanding achievements at the Paris Olympics after enduring grueling training,” Yang said.
“KB Financial will spare no effort in supporting Korean athletes to perform their best on the international stage.”
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