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Code of Conduct

Integrity is our core value in all we do.

Charter of Ethics

KB Financial Group is dedicated to providing the highest level of financial services to our customers, placing the interests of our shareholders at the forefront and enhancing the growth and quality of life for our employees. Furthermore, we aim to serve as a partner in the development of our nation and our community by promoting sound and fair business practices and actively engaging in corporate social initiatives.
In establishing this Charter of Ethics, all employees and members of KB Financial Group hereby affirm our commitment to uphold ethical values as the foremost standard for all behavior and to strictly adhere to the principles declared herein:

We strive to think and act from the customer’s point of view, and ensure customer delight by delivering excellence in financial services.

We shall do our utmost to serve the interests of our shareholders by maximizing the Company value through transparent and sound business management.

We strive to comply with all fundamental laws and regulations, respect the diversity of cultures and values, contribute to the growth of our national economy and our community and promote peaceful prosperity for all of humankind.

We strive to ensure the continuous growth and expansion of the Company by sharing our policy principles and converging the Company’s capabilities, building on mutual trust and support between all subsidiaries and affiliates.

We shall consistently behave with sincerity and integrity, maintaining the highest standards of professional conduct to serve as the model for excellence for the entire financial services community.

Code of Conduct

KB Financial Group is committed to the diligent observation of this Code of Conduct, created to elucidate the spirit of the KB Financial Group Charter of Ethics reflecting our promise of ethical management and to provide guidelines for proper value judgment and conduct for all employees.

Chapter 1: Ethics on Customers

1. Placing our Customers First
KB Financial Group places the top priority on our customers in determining the standard of conduct for all of our activities. We strive to constantly think and act from the customer’s point of view and deliver customer delight by providing excellence in financial products and services that meet the needs and expectations of our customers.
2. Protecting our Customers
KB Financial Group is committed to safeguarding the property, security and personal information of our customers, and does not engage in any immoral or unethical practices that infringe upon the rights of our customers.
3. Respecting our Customers
Employees and staff of KB Financial Group approach all tasks with sincerity and alacrity, engaging in ethical marketing activities building on a strong foundation of expert financial knowledge.

Chapter 2: Ethics on Shareholders and Investors

1. Maximizing Shareholder and Investor Profit
KB Financial Group protects the rights of our shareholders and investors, respecting their rightful demands and suggestions and building trust through a transparent and reasonable decision-making process and sound business activities, and enhances corporate market value by generating stable revenues.
2. Protecting Shareholder Rights
KB Financial Group engages with all of our shareholders fairly and equally, whether they be minor or major shareholders, or domestic or foreign, with all management decisions taken in careful consideration of the benefits of all shareholders to ensure no shareholder benefits or rights are wrongfully violated.
3. Providing Open and Transparent Information
KB Financial Group creates and maintains financial records according to generally-accepted accounting principles, and provides financial statements and business results with openness and transparency.
We disclose our business information according to all relevant regulations in complete, unbiased, timely and accurate and easily understandable manner in order to enable investors, as our potential shareholders, and all interested parties and users to make reasonable and informed investment decisions.

Chapter 3: Ethics on Civic and Social Duties

1. Contributing to National Economic and Social Development
KB Financial Group is a partner for national economic development, contributing to our national economic growth through job creation and full compliance to tax obligations.
In addition, we are committed to fulfilling our corporate social responsibility by supporting education and the culture and arts and engaging in corporate social initiatives including charity programs and community service activities.
2. Preventing Disasters and Protecting the Environment
KB Financial Group complies with all safety-related regulations and local and international environmental regulations, and strives to maintain the highest level of disaster and crisis prevention and awareness and engage in environmental protection.
3. Prohibiting Political Involvement
KB Financial Group does not engage in activities that depart from complete political neutrality by expressing or providing support for any political parties or candidates. Contributions to any political or charity organizations are made in strict compliance with all relevant laws and regulations.

Chapter 4: Ethics on Competitors and Partners

1. Complying with Local and International Laws
As a responsible corporate citizen and member of our community, KB Financial Group fully complies with all laws and regulations relevant to the prevention of corruption, bribery and money laundering. As a member of the international community, we respect international agreements, regulations and other globally-accepted protocols and all local laws, cultures and customs.
2. Competing Fairly with Other Financial Institutions
KB Financial Group is committed to promoting fair and free market competition according to the principles of free and open competition, engaging in fair competition with other financial institutions and fully complying with fair-trade laws and regulations.
3. Engaging in Fair Business with our Suppliers
KB Financial Group pursues joint win-win growth and development by building mutual trust and cooperative relationships with our suppliers through fair and transparent business practices.
We do not make unfair demands by using our preferred market position, and uphold the highest degree of integrity in signing and fulfilling all contracts.

Chapter 5: Ethics as a Financial Group

1. Maximizing Group Value
KB Financial Group seeks to achieve maximum value for the Company by sharing business principles and visions, building synergy between business divisions and efficiently leveraging business resources.
2. Respecting our Subsidiaries and Affiliates
KB Financial Group guarantees management autonomy based on clear goal-setting and equitable assessment of our family companies. We closely heed the opinions of all of our members on maximizing the Company value, integrating their input into managing the Company.

Chapter 6: Ethics on Employees and Staff

1. Upholding Dignity and Equality
KB Financial Group respects the dignity and privacy of all of our employees and staff. We do not discriminate based on place of birth, family background, educational background, gender, religion, age, disability or marital status, and guarantee equal opportunities based on personal ability and talent and fair compensation based on equitable assessment of performance.
2. Nurturing Talent
KB Financial Group is committed to developing talent and supporting the self-actualization of all of our team members by respecting the autonomy and creativity of each individual employee, enhancing workplace satisfaction by fairly assigning work opportunities conductive to personal skills growth, and operating a wide range of training programs for building professional expertise.
3. Enhancing Quality of Life
KB Financial Group firmly believes that our people are our most valuable assets, and provides the right conditions for maintaining work-life balance and maintains a sound working environment for ensuring the health and safety of our employees in the course of fulfilling their workplace tasks.
We respect the dignity and fundamental rights of all employees, and strive to create a mature organizational culture founded on mutual respect where no voice is left unheard.

Chapter 7: Employee Code of Conduct

1. Complying with Basic Ethics
  1. 1.1. Employees and staff of KB Financial Group are expected to fulfill the tasks assigned to individual member in order to achieve the goals and values of the Company, based on a shared understanding of the Company’s core business principles.
  2. 1.2. Employees and staff of KB Financial Group must resist all attempts to form workplace factions, instead striving together to build an open organizational culture based on seamless communication and mutual respect regardless of position.
  3. 1.3. Employees and staff of KB Financial Group must conduct all financial accounting practices according to generally-accepted accounting principles, and must furnish complete, impartial, accurate and understandable information in a timely manner as required by internal and external regulations and accounting principles.
  4. 1.4. Employees and staff of KB Financial Group comply with all work-related rules and regulations, upholding basic social values and integrity in diligently carrying out assigned tasks.
2. Prohibition against Conflict of Interest
  1. 2.1. Employees and staff of KB Financial Group must place first priority on the interests of the company when facing a conflict of interest between the individual employee and the company or between business divisions, and must refrain from unfairly interfering with the activities of another business division or assist in unlawful or unfair transactions.
  2. 2.2. Business opportunities identified while serving as an employee of KB Financial Group must be delegated to the company.
  3. 2.3. Employees and staff of KB Financial Group must ensure that personal interest does not conflict with company interest while making investment decisions that impact or may impact the fulfillment of professional responsibilities, conducting transactions with family members or acquaintances, accepting speaking engagements and engaging in other such activities. Should a conflict of interest occur, the employee must inform the ethics department and immediate supervisor of all relevant facts.
3. Prohibiting Insider Trading and Other Unfair Practices
  1. 3.1. Employees and staff of KB Financial Group must not engage in unfair practices for personal gain including trading securities using insider information, price manipulation and use of private and undisclosed information. Any profits subjected to return under “short-swing profit” laws are to be returned according to the relevant rules and regulations.
  2. 3.2. Employees and staff of KB Financial Group must not furnish to third parties any key private and undisclosed information provided outside of lawful procedures that may impact share prices.
4. Protection of Company Assets
  1. 4.1. Employees and staff of KB Financial Group must use the physical assets, intellectual property rights, confidential business information and all other tangible and intangible assets belonging to the company solely for the purpose of enhancing the company’s business value, and must not use such assets for personal gain.
  2. 4.2. Employees and staff of KB Financial Group must properly and transparently make use of company funds and assets according to approved guidelines solely for purposes authorized by the company.
5. Maintaining Information Protection and Security
  1. 5.1. Employees and staff of KB Financial Group must not unlawfully provide private or undisclosed information encountered during the course of their business activities to outside parties, and must control access to such information by unauthorized third parties. Any access or attempts to access such information by third parties should be reported immediately to relevant oversight departments.
  2. 5.2. Provision of any information to newspapers, broadcast media and other press organizations should be conducted solely by authorized company personnel.
6. Prohibiting Gifts and Entertainment
  1. 6.1. Employees and staff of KB Financial Group must not receive gifts or entertainment from suppliers or other stakeholders, or offer gifts or entertainment to stakeholders in relation to company business unlawfully or in excess of socially-accepted and customary practices.
  2. 6.2 Employees and staff of KB Financial Group must not provide gifts or entertainment to other employees.
7. Prohibiting Involvement in Political Activities
  1. 7.1. Employees and staff of KB Financial Group must not engage in political activities during working hours, and must not make use of company organizations, personnel or assets for political purposes.
  2. 7.2. While the political rights and opinions of individual employees and staff of KB Financial Group must be respected, care must be taken to ensure such political opinions or involvement in political activities are not misconstrued as those of KB Financial Group.
8. Prohibiting Sexual Harassment and other Abuse
Employees and staff of KB Financial Group must not engage in any and all improper or coercive actions including physical, verbal or visual forms of sexual harassment, verbal abuse and physical assault.
9. Complying with Ethics Guidelines
  1. 9.1. Employees and staff of KB Financial Group must diligently comply with the company’s fundamental guidelines for ethics (Charter, Code of Conduct, Standards of Behavior), and must bear responsibility for any acts of noncompliance.
  2. 9.2. Employees and staff of KB Financial Group must report to the ethics department any attempt to force behavior in violation of fundamental guidelines for ethics or relevant laws and regulations, or upon witnessing such behavior.
  3. 9.3 Should violation of employee ethics guidelines occur, KB Financial Group must strive to prevent a reoccurrence of such violations through thorough investigation of the reasons for occurrence as well as education of employees.

Promoting Integrity in Our Workplace

Enacting Charter of Ethics

In January 2010, KB Financial Group announced Charter of Ethics, the highest ethical standard for all employees to follow. All of our employees made commitment to abide by the Charter.

Code of Practice

We have in place detailed guidance regarding avoiding conflict of interest, practicing fair business, banning gifts and entertainment, protectting company property, protecting privacy of information, anti-money laundering for employees to follow in their day-to-day conduct of business. Any breach of the code shall be reported immediately, and questions over interpreting and applying the code shall be consulted with Compliance.

Guidelines on Outside Activities

In case employees are requested to give lectures, contribute articles, give interviews, they must receive prior approval from the company and the company shall determine whether or not any income from such activities belongs to the company. In case of attending local or overseas training or seminars, employees may attend such programs only when there is no potential conflct of interest considering the program's relevance to the business and any provision of hospitality that might affect proper business conduct in the future.

Protecting Whistleblower

We have in place Whistleblower Center to protect whistleblowers from any discrimination and retaliation and encourage the reporting of misconducts.

Integrity in Contracting

We are promoting transparency in contracting process by adopting policy on integrity in contracting under which we explain any conflict of interest to suppliers and include provision on integrity in the contract.
To raise a concern about contracting, please contact below.

Direct Call : 82-2-2073 –7804, e-mail : compliance.khg@kbfg.com

Supplier Code of Conduct

KB Financial Group is committed to promoting sustainable development of communities and environment by taking responsible and ethical approach to business, and strives work collaboratively with our suppliers on sustainability. Any KB Financial Group business shall require their respective suppliers to abide by this Code. KB Financial Group requires suppliers to comply with requirements in the Code to ensure responsible and ethical operation.

Section 1. Labour

  1. 1. Suppliers must prohibit labour non-compliant with relevant regulations or harsh labour, whether mental or physical, on thier workers(contract workers, temporary workers, or any other types of workers) and must not require or order their colleagues or subordinates to engage in practices in violation of such prohibition.
  2. 2. Suppliers must protect privacy of workers and must not engage in any inhumane treatment of workers that might undermine human dignity such as sexual harassment, verbal or physical abuse, human trafficking, etc.
  3. 3. Suppliers must not use underage labour below the age of 15 in accordance with relevant regulations, and must ensure that those in vulnerable groups such as female or people with disability do not perform morally or physically hazardous work.
  4. 4. Suppliers must ensure that working hours are in accordance with relevant regulations. Suppliers must have in place benefit plan for workers and ensure that wages meeting minimum wage requiremetns are paid at the appointed time in a legitimate manner.
  5. 5. Suppliers must provide workers with equal and fair opportunities based on their skills and capabilities and evaluate and compensate them fairly based on their performance. Suppliers must provide workers with appropriate training to help them perform their duties to the best of their abilities and must not discriminate them based on nationality, race, religion, place of origin, educational background, gender, and age.
  6. 6. Suppliers must ensure that basic rights of workers are respected and make best endeavours to protect human rights of workers.

Section 2. Occupational Safety and Health

  1. 1. Suppliers must ensure that any risk factors threatening safety of workers are eliminated by providing proper personal protective equipments, installing risk control devices and adopting safe work procedures.
  2. 2. Suppliers must provide safe and clean work environment for workers to prevent occupational accidents and diseases and ensure to make continuous improvements in work environment to prevent workers' health from being undermined from excessive exhaustion and stress

Section 3. Environmental Protection

  1. 1. Suppliers must comply with local and international laws and international treaties pertaining to the protection of the environment.
  2. 2. Suppliers must identify and safely manage dangerous and/or hazardous materials and make their best efforts to minimize waste and pollution through recycling, use of environmentally friendly substitues and efficient use of resources.

Section 4. Fair Business and Subcontractor Relations

  1. 1. Suppliers must not engage in unfair business practices such as bid-rigging, price-fixing, using undisclosed information of their competitors. Suppliers must abide by free market principles and conduct business in an honest and transparent manner.
  2. 2. Suppliers must not take advantange of their superior position in their subcontractors to make unfair demands or impose unfair business practice. Suppliers must strive to promote mutual benefits and growth with their subcontractors.

Section 5. Ethical Business Practice

  1. 1. Suppliers must ensure that their employees conduct business dealings with KB Financial Group in a fair and transparent manner. Suppliers must adhere to KB Financial Group's zero tolerance policy on corruption by proactively managing their employees to prevent them from providing or accepting gifts, entertainment or unfair advantage.
  2. 2. Suppliers must comply with KB Financial Group's policy on integrity in contracting.
  3. 3. Suppliers must take technical and physical measures to protect privacy of information in accordance with applicable laws and regulations.
  4. 4. Suppliers must respect values that guide our country and society and abide by relevant laws and regulation. Suppliers must make best efforts to fulfil their social responsibility by engaging with the communities in which they operate.
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