First doorstep remarks after nomination as final candidate
'Can't rest on being No. 1 … prepare for change over next 3-5 years'
Productive finance 93 trillion won, inclusive finance 17 trillion won
On personnel: 'Will build a system-driven organization'
"I take it as a message that we must not grow complacent just because we are No. 1."
Lee Jae-geun, the candidate nominated to become the next chairman of KB Financial Group, made the remarks Monday when he met with reporters — his first appearance before the press since the group's chairman recommendation committee selected him as its final candidate on Friday.
Lee said he saw his selection against a backdrop of record earnings and an all-time high share price as a call for change rather than a reward for current performance. He interpreted it as a directive to stop resting on present results and instead prepare for the shifts that AI, the MoneyMove trend and an aging population will bring to the financial industry over the next three to five years.
Speaking to reporters at KB Financial's annex building in Yeouido, Seoul, Monday morning, Lee said: "We posted record first-half earnings of nearly 3.9 trillion won ($2.91 billion) and our share price keeps hitting all-time highs — I believe my appointment in that environment is a message that we cannot afford to be complacent as the industry leader."
He added that AI, MoneyMove and aging were driving sweeping change across the financial industry, warning that "the next three to five years will be a period when the fate of a financial group could hinge on whether it responds properly to these shifts." He particularly noted that "the biggest change is the flow toward a capital-market-centered economy," and said KB Financial must also fulfill its social role through productive finance and inclusive finance.
On year-end personnel decisions, Lee said no specific direction had been set. "I haven't yet thought about how to handle personnel matters," he said, adding that he believed a financial group of KB's scale should be driven by systems rather than concentrated in the hands of a single chairman.
On the "generational change" cited by the recommendation committee, Lee drew a line between the concept and any age-based personnel overhaul. "Generational change means making decision-making faster and more accountable — not change defined by age," he said. "Rather than limiting it to age, I will think about it on the basis of capability."
KB Financial is pursuing a total of 110 trillion won in financing, comprising 93 trillion won in productive finance and 17 trillion won in inclusive finance. "Being a leader is not just about generating large profits — it is about growing in a healthy way together with customers and investors," Lee said.
On organizational management, Lee emphasized systems and processes over the authority of any single chairman. "Rather than having power concentrated in the chairman, I want to build an organization that moves on systems and processes," he said. "I will focus on building a decentralized, sustainable organization."
Lee is set to be formally appointed as the next chairman at an extraordinary shareholders' meeting on Nov. 20. "Shareholder approval is still pending, so it is difficult to go into detail at this point," he said, adding that he would lay out his specific management plans after taking office.
rim@heraldcorp.com
