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| KB Kookmin Bank CEO Hur Yin |
KB Kookmin Bank CEO Hur Yin will be taking an eight-day trip to South East Asian countries to check on moves for the bank's overseas expansion, KB said Friday.
Hur will leave for Indonesia Feb. 14, and will then visit India and Vietnam before returning home Feb. 21.
"The primary focus of the visit is to make sure our business plans in the key areas are proceeding without any problems," a KB official said.
His trip comes about six months after KB acquired a 22 percent stake in Bank Bukopin in Indonesia and became its second-largest shareholder.
KB signed an agreement in June 2018 to purchase new shares issued by the Indonesian bank, which was approved by the country's financial authorities.
"A number of visiting senior officials are seeking various ways to boost cooperation with local officials. We will set up a mid- to long-term strategy for effective management there," the official added.
The expansion in Indonesia will help the bank establish a stronger presence in other Southeast Asian countries nations, including Cambodia and Myanmar.
"It is our mission to maintain stable profit generation which will require strengthened capability through systemic and well-organized management," the official said.
"We will continue our efforts to identify new, sustainable growth engines overseas by finding business models that can maximize synergy with our partners in the respective countries our businesses are based in."
