Kookmin Bank

Kookmin Bank
Type	Subsidiary
Founded	1 November 1963; 58 years ago
Headquarters	Seoul, South Korea
Key people	Hur Yin, (CEO)
Products	Financial services
Number of employees	26,000
Parent	KB Financial Group
Korean name
Hangul	국민은행
Hanja	國民銀行
Revised Romanization	Gukmin/Gungmin Eunhaeng
McCune–Reischauer	Kukmin Ŭnhaeng
Website	omoney.kbstar.com

Kookmin Bank or KB Kookmin Bank (Korean: 주식회사 국민은행; RR: Jusik Hoesa Gungmin Eunhaeng) is among the four largest banks ranked by asset value in South Korea at the end of March 2014.^[1] It is the largest among banks in Korea and 60th largest in the world by 2017.^[2]

History[]

Current KB Kookmin Bank was formed in Dec, 2000 between old Kookmin Bank and Housing & Commercial Bank. They were both founded by the Korean government in 1960s for special purposes. Kookmin Bank, which specially provided financial service for middle and low income consumers, was privatized in 1995. During the Asian financial crises both banks acquired other financially troubled banks. The merger of two banks was partly due to the government policy to make banks bigger and more stable. After the merger, KB acquired various companies include credit card, insurance and brokerage firm to transform in to the financial group in 2008.^[3] In Sep, 2004, Kookmin Bank said it would restate its 2003 and 2004 earnings after a financial watchdog found the bank avoided $270 million in taxes.^[4]