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Management Profile

Young-Rok Lim

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Young-Rok Lim Chairman & CEO KB Financial Group Inc.

Mr. Young-Rok Lim was elected as Chairman and CEO of KB Financial Group Inc. in July 2013, after his dedicated service as President of the Group for 3 years. He has become the first Chairman and CEO in KBFG’s history to internally succeed the Group’s Chairmanship.

 

During his tenure as President, Mr. Lim, based on his broad experience and in-depth knowledge of Korean financial system, was viewed as having demonstrated strong execution capability and excellent leadership in resolving major business issues faced by KBFG. He made an important contribution to enhancing the stable profitability footing of KBFG, by focusing on strengthening its previously weak risk management system and preemptively reducing its exposure to high-risk industries such as shipbuilding and real estate project finance, thereby improving the group-wide credit portfolio as well as KBFG’s overall asset quality management.

 

Mr. Lim’s in-depth financial expertise demonstrated as President was rooted in his experiences at the Ministry of Finance and Economy (MOFE), one of the most important government agencies in Korea, where he built most of his civil career for over 30 years. Prior to joining the Group, he served as the Vice Minister of the MOFE in 2008.

 

Throughout his service at the MOFE, Mr. Lim contributed to the stability and soundness of the Korean financial industry along a path of rapid promotions to many key posts, including Vice Minister, Director-General of the Financial Policy Bureau, and Director-General of the Economic Cooperation Bureau.

 

In addition to his distinguished career at the MOFE, Mr. Lim led the Multilateral Trade Bureau at the Ministry of Foreign Affairs and Trade, where he successfully completed the signing of a Free Trade Agreement with Singapore in 2004, for which he later received a Presidential commendation.

 

As the Deputy Director-General of the Economic Policy Bureau from 2001 to 2003, Mr. Lim played a leading role in corporate reforms including Daewoo Group, thereby enhancing credibility of large corporate sector in Korea.

 

During the height of the Asian financial crisis from 1997 to 1999, he was in charge of two key divisions at the MOFE, supervising the capital markets and the banking sector, and led the all-too-important restructuring of the nation’s banking industry including merchant banks. His efforts contributed to Korea’s distinction as the first country to successfully overcome the crisis and thus setting an exemplary model for other nations to follow.

 

After completing his public service, Mr. Lim continued his pursuit of financial research and knowledge at the Korea Institute of Finance in 2009 as a Visiting Scholar. He then applied his astute understanding of finance at a law firm, Hwang Mok Park P.C., as Senior Advisor for a year just prior to joining KB Financial Group as President.

 

Mr. Lim received a B.A. and a Master of Public Administration from Seoul National University, and an M.A. in Economics from Vanderbilt University. In August 2012, he obtained his Ph.D. in Economics at Hanyang University.

 

Married with two children, Mr. Lim is a talented sportsman, enjoying a variety of sports.

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