'We should not become complacent just because we are No. 1': KB chair nominee

KB Financial Group Chairman nominee Lee Jae-keun on Monday framed his selection as a mandate to push the country's leading financial group beyond its record-setting performance, while signaling continuity in its overall direction.

"KB posted nearly 3.9 trillion won ($2.9 billion) in net profit in the first half, its best-ever performance, while its share price has also reached a record high," Lee told reporters at the group's headquarters on his first day as final candidate nominee.

"I take my selection under these circumstances as a message that we should not become complacent just because we are No. 1."

Highlighting artificial intelligence, digital transformation, shifting flows of money and an aging population, Lee said the financial industry faces major changes over the next three to five years. "If we fail to respond to these changes properly ... it could determine the fate of a financial group," he said.

At the same time, Lee stressed that he does not intend to overhaul the direction set under outgoing Chairman Yang Jong-hee, pledging to ensure that "the continuity of KB Financial's management, strategy and business is not undermined."

The nominee also highlighted the shift toward capital markets and the growing role of financial groups in productive and inclusive finance, saying leadership should be defined by more than earnings.

"Being a leader means setting new standards and benchmarks for the industry," Lee said. "It should not simply mean generating more profit from interest income, but growing together with customers, investors and society."

On year-end executive appointments, he pushed back against interpreting the board's call for a "generational shift" simply in terms of age.

"A generational shift is not about being young," Lee said. "It is about creating an organization that can make decisions more quickly and takes responsibility for them."

Lee said appointments would focus on capability, expertise and leadership, while also stressing that KB should operate through established systems and processes rather than concentrate authority in the chairman.

"I want an organization that operates through systems and processes, rather than the personal abilities of a particular individual," he said. "I would like to put greater emphasis on making the organization more decentralized and sustainable."

KB Financial's recommendation committee selected Lee as its final chairman candidate Friday, choosing him over Yang, whose reappointment had widely been expected following a run of record earnings. In naming Lee, the committee said KB needed "bold change and a generational shift" to strengthen its core competitiveness and secure future growth engines.

Lee, 60, currently oversees the group's global business, wealth management and corporate finance. A career KB executive, he has held a series of senior roles, including chief financial officer at the holding company, before serving as CEO of KB Kookmin Bank for three years.

He is expected to formally take office in November after completing shareholder approval.