KB Financial Group Inc. | CIK:0001445930 | 3

  • Filed: 4/27/2018
  • Entity registrant name: KB Financial Group Inc. (CIK: 0001445930)
  • Generator: Fujitsu
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1445930/000119312518136720/0001193125-18-136720-index.htm
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    • ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory

    40. Subsidiaries

    Details of subsidiaries as of December 31, 2017, are as follows:

     

    Investor

    		   

    Investee

    		   Ownership
    interests
    (%)    		    

    Location

    		  

    Date of
    financial
    statements

    		  

    Industry

    KB Financial Group Inc.

    		   

    Kookmin Bank

    		     100.00    

    Korea

    		  

    Dec. 31

    		  

    Banking and foreign exchange transaction

      

    KB Securities Co., Ltd.

    		     100.00    

    Korea

    		  

    Dec. 31

    		  

    Financial investment

      

    KB Insurance Co., Ltd.5

    		    100.00    

    Korea

    		  

    Dec. 31

    		  

    Non-life insurance

      

    KB Kookmin Card Co., Ltd.

    		     100.00    

    Korea

    		  

    Dec. 31

    		  

    Credit card and installment finance

      

    KB Life Insurance Co., Ltd.

    		     100.00    

    Korea

    		  

    Dec. 31

    		  

    Life insurance

      

    KB Asset Management Co., Ltd.

    		     100.00    

    Korea

    		  

    Dec. 31

    		  

    Security investment trust management and advisory

      

    KB Capital Co., Ltd.5

    		    100.00    

    Korea

    		  

    Dec. 31

    		  

    Financial Leasing

      

    KB Savings Bank Co., Ltd.

    		     100.00    

    Korea

    		  

    Dec. 31

    		  

    Savings banking

      

    KB Real Estate Trust Co., Ltd.

    		     100.00    

    Korea

    		  

    Dec. 31

    		  

    Real estate trust management

      

    KB Investment Co., Ltd.

    		     100.00    

    Korea

    		  

    Dec. 31

    		  

    Capital investment

      

    KB Credit Information Co., Ltd.

    		     100.00    

    Korea

    		  

    Dec. 31

    		  

    Collection of receivables or credit investigation

      

    KB Data System Co., Ltd.

    		     100.00    

    Korea

    		  

    Dec. 31

    		  

    Software advisory, development, and supply

    Kookmin Bank

    		   

    Kookmin Bank Int’l Ltd. (London)

    		     100.00    

    United Kingdom

    		  

    Dec. 31

    		  

    Banking and foreign exchange transaction

      

    Kookmin Bank Hong Kong Ltd.

    		     100.00    

    China

    		  

    Dec. 31

    		  

    Banking and foreign exchange transaction

      

    Kookmin Bank Cambodia PLC.

    		     100.00    

    Cambodia

    		  

    Dec. 31

    		  

    Banking and foreign exchange transaction

      

    Kookmin Bank (China) Ltd.

    		     100.00    

    China

    		  

    Dec. 31

    		  

    Banking and foreign exchange transaction

      

    KB Microfinance Myanmer Co., Ltd.

    		     100.00    

    Myanmer

    		  

    Dec. 31

    		  

    Other credit granting n.e.c.

    KB Securities Co., Ltd.

    		   

    KBFG Securities America Inc.

    		     100.00    

    United

    States of

    America

    		  

    Dec. 31

    		  

    Investment advisory and securities dealing activities

      

    KBFG Securities Hong Kong Ltd.

    		     100.00    

    China

    		  

    Dec. 31

    		  

    Investment advisory and securities dealing activities

      

    KB SECURITIES VIETNAM JOINT STOCK COMPANY

    		     99.40    

    Vietnam

    		  

    Dec. 31

    		  

    Investment advisory and securities dealing activities

    KB Insurance Co., Ltd.

    		   

    KB Claims Survey & Adjusting

    		     100.00    

    Korea

    		  

    Dec. 31

    		  

    Claim service

      

    KB Sonbo CNS

    		     100.00    

    Korea

    		  

    Dec. 31

    		  

    Management service

      

    Leading Insurance Services, Inc.

    		     100.00    

    United

    States of

    America

    		  

    Dec. 31

    		  

    Management service

      

    LIG Insurance (China) Co., Ltd.

    		     100.00    

    China

    		  

    Dec. 31

    		  

    Non-life insurance

      

    PT. KB Insurance Indonesia

    		     70.00    

    Indonesia

    		  

    Dec. 31

    		  

    Non-life insurance

      

    KB Golden Life Care Co., Ltd.

    		     100.00    

    Korea

    		  

    Dec. 31

    		  

    Service

    KB Capital Co., Ltd., KB Kookmin Card Co., Ltd.

    		   

    KB KOLAO LEASING Co., Ltd.

    		     80.00    

    Laos

    		  

    Dec. 31

    		  

    Financial Leasing

    Kookmin Bank

    		   

    KL 1st Inc. and 27 others2

    		    —      

    Korea

    		  

    Dec. 31

    		  

    Asset-backed securitization and others

    KB Kookmin Card Co., Ltd.

    		   

    KB Kookmin Card Third Securitization Co., Ltd., and 9 others2

    		    0.50    

    Korea

    		  

    Dec. 31

    		  

    Asset-backed securitization

    KB Securities Co., Ltd

    		   

    MS Sejong 4th Co., Ltd. and 43 others2

    		    —      

    Korea

    		  

    Dec. 31

    		  

    Asset-backed securitization

    Kookmin Bank, KB Investment Co., Ltd.

    		   

    KB12-1 Venture Investment

    		     100.00    

    Korea

    		  

    Dec. 31

    		  

    Capital investment

      

    KB Start-up Creation Fund

    		     62.50    

    Korea

    		  

    Dec. 31

    		  

    Capital investment

    KB Investment Co., Ltd.

    		   

    09-5 KB Venture Fund4

    		    33.33    

    Korea

    		  

    Dec. 31

    		  

    Capital investment

      

    KoFC-KB Pioneer Champ No.2010-8 Investment Partnership4

    		    50.00    

    Korea

    		  

    Dec. 31

    		  

    Capital investment

      

    2011 KIF-KB IT Venture Fund4

    		    43.33    

    Korea

    		  

    Dec. 31

    		  

    Capital investment

      

    KoFC-KB Young Pioneer 1st Fund4

    		    33.33    

    Korea

    		  

    Dec. 31

    		  

    Capital investment

    Kookmin Bank, KB Investment Co., Ltd.

    		   

    KB Intellectual Property Fund4

    		    34.00    

    Korea

    		  

    Dec. 31

    		  

    Capital investment

    Kookmin Bank, KB Insurance Co., Ltd., KB life Insurance, KB Investment Co., Ltd.

    		   

    KB High-tech Company Investment Fund

    		     100.00    

    Korea

    		  

    Dec. 31

    		  

    Capital investment

    KB Securities Co., Ltd., KB Investment Co., Ltd.

    		   

    KB KONEX Market Vitalization Fund4

    		    46.88    

    Korea

    		  

    Dec. 31

    		  

    Capital investment

      

    KB Neo Paradigm Agriculture Venture Fund4

    		    50.00    

    Korea

    		  

    Dec. 31

    		  

    Capital investment

    KB Investment Co., Ltd.

    		   

    KB NEW CONTENTS Venture Fund4

    		    20.00    

    Korea

    		  

    Dec. 31

    		  

    Capital investment

      

    KB Young Pioneer 3.0 Venture Fund4

    		    40.00    

    Korea

    		  

    Dec. 31

    		  

    Capital investment

    KB Life Insurance Co., Ltd.

    		   

    KB Haeoreum Private Securities Investment Trust 1st and 3 others

    		     100.00    

    Korea

    		  

    Dec. 31

    		  

    Investment trust

    Kookmin Bank

    		   

    KB Multi-Asset Private Securities Fund (Bond Mixed-ETF)

    		     99.27    

    Korea

    		  

    Dec. 31

    		  

    Investment trust

    KB Multi-Asset Private Securities Fund (Bond Mixed-ETF)

    		   

    Global Diversified Multi-Asset Sub-Trust Class I A

    		     100.00     United Kingdom   Dec. 31  

    Investment trust

    Kookmin Bank

    		   

    KB Multi-Asset Private Securities Fund S-1(Bond Mixed)

    		     96.00    

    Korea

    		  

    Dec. 31

    		  

    Investment trust

      

    KB Multi-Asset Private Securities Fund P-1(Bond Mixed)

    		     99.96    

    Korea

    		  

    Dec. 31

    		  

    Investment trust

    KB Multi-Asset Private Securities Fund P-1(Bond Mixed)

    		   

    KB Multi-Asset Private Securities Master Fund P-1(Bond Mixed)

    		     100.00    

    Korea

    		  

    Dec. 31

    		  

    Investment trust

    Kookmin Bank, KB Securities Co., Ltd., KB life Insurance Co., Ltd., KB Real Estate Trust Co., Ltd.

    		   

    KB Wise Star Private Real Estate Feeder Fund 1st.

    		     100.00    

    Korea

    		  

    Dec. 31

    		  

    Investment trust

    KB Wise Star Private Real Estate Feeder Fund 1st.

    		   

    KB Star Retail Private Master Real Estate3

    		    48.98    

    Korea

    		  

    Dec. 31

    		  

    Investment trust

      

    KB Star Office Private Real Estate Investment Trust 2nd3

    		    44.44    

    Korea

    		  

    Dec. 31

    		  

    Investment trust

    Kookmin Bank, KB Insurance Co., Ltd.

    		   

    Hanbando BTL Private Special Asset Fund 1st3

    		    46.36    

    Korea

    		  

    Dec. 31

    		  

    Investment trust

    Kookmin Bank, KB Insurance Co., Ltd., KB life Insurance Co., Ltd.

    		   

    KB Hope Sharing BTL Private Special Asset3

    		    46.00    

    Korea

    		  

    Dec. 31

    		  

    Investment trust

    Kookmin Bank, KB life Insurance Co., Ltd.

    		   

    KB Mezzanine Private Securities Fund 2nd. (Mixed)3

    		    40.74    

    Korea

    		  

    Dec. 31

    		  

    Investment trust

    Kookmin Bank, KB Insurance Co., Ltd., KB life Insurance Co., Ltd.

    		   

    KB Senior Loan Private Fund3

    		    37.39    

    Korea

    		  

    Dec. 31

    		  

    Capital investment

    KB Securities Co., Ltd.

    		   

    KB Vintage 16 Private Securities Investment Trust 1st3

    		    50.00    

    Korea

    		  

    Dec. 31

    		  

    Investment trust

    KB Kookmin Card Co., Ltd.

    		   

    Heungkuk Life Insurance Money Market Trust

    		     100.00    

    Korea

    		  

    Dec. 31

    		  

    Trust asset management

    Kookmin Bank

    		   

    KB Haeoreum private securities investment trust 70 (Bond)3

    		    33.35    

    Korea

    		  

    Dec. 31

    		  

    Investment trust

    KB Insurance Co., Ltd.

    		   

    KB AMP Infra Private Special Asset Fund 1 (FoFs)3

    		    41.67    

    Korea

    		  

    Dec. 31

    		  

    Investment trust

    KB Insurance Co., Ltd.

    KB life Insurance Co., Ltd.

    KB Investment Co., Ltd.

    		   

    KB-Solidus Global Healthcare Fund4

    		    43.33    

    Korea

    		  

    Dec. 31

    		  

    Capital investment

    Kookmin Bank, KB Insurance Co., Ltd.

    		   

    KB KBSTAR Short Term KTB Active ETF

    		     77.72    

    Korea

    		  

    Dec. 31

    		  

    Investment trust

      

    KB KBSTAR Mid-Long Term KTB Active ETF

    		     94.79    

    Korea

    		  

    Dec. 31

    		  

    Investment trust

    Kookmin Bank

    		   

    Samsung KODEX 10Y F-LKTB Inverse ETF (Bond-Derivatives)

    		     97.15    

    Korea

    		  

    Dec. 31

    		  

    Investment trust

      

    KB Haeoreum private securities investment trust 83 (Bond)

    		     96.14     Korea   Dec. 31  

    Investment trust

      

    KB KBSTAR KTB 3Y Futures Inverse ETF

    		     95.65     Korea   Dec. 31  

    Investment trust

    KB Insurance Co., Ltd.

    		   

    KB Muni bond Private Securities Fund 1 (USD)(bond)3

    		    33.33     Korea   Dec. 31  

    Investment trust

    KB Securities Co., Ltd.

    		   

    Jueun Power Middle 7 and 7 others

    		     100.00     Korea   Dec. 31  

    Investment trust

      

    Hyundai You First Private Real Estate Investment Trust No. 1

    		     60.00     Korea   Dec. 31  

    Investment trust

      

    Hyundai Smart Index Alpha Securities Feeder Investment Trust No.1

    		     98.37     Korea   Dec. 31  

    Investment trust

      

    Hyundai Strong Korea Equity Trust No.1

    		     99.73     Korea   Dec. 31  

    Investment trust

      

    Hyundai Kidzania Equity Feeder Trust No.1

    		     78.44     Korea   Dec. 31   Investment trust
      

    Hyundai Value Plus Equity Feeder Trust No.1

    		     99.84     Korea   Dec. 31   Investment trust
      

    Hyundai Strong-small Corporate Trust No.1

    		     89.59     Korea   Dec. 31  

    Investment trust

      

    Hyundai You First Private Real Estate Investment Trust No. 153

    		    35.00     Korea   Dec. 31  

    Investment trust

      

    JB New Jersey Private Real Estate Investment Trust No. 1

    		     98.15     Korea   Dec. 31  

    Investment trust

      

    Hyundai Dynamic Mix Securities Feeder Investment Trust No.1

    		     99.94     Korea   Dec. 31  

    Investment trust

      

    Hyudai China Index Plus Securities Investment Trust No.1

    		     79.95     Korea   Dec. 31  

    Investment trust

    KB Securities Co., Ltd.

    		   

    Hyundai Kon-tiki Specialized Privately Placed Fund No.1

    		     98.12     Korea   Dec. 31   Investment trust
      

    DGB Private real estate Investment Trust No.8

    		     98.77     Korea   Dec. 31  

    Investment trust

      

    LIME GLOBALEYE ALP PRIVATE EQUITY FUND 2

    		     68.03     Korea   Dec. 31  

    Investment trust

      

    LIME ORANGE PRIVATE EQUITY FUND 6

    		     98.04     Korea   Dec. 31  

    Investment trust

      

    DAEDUCK PARC1 PRIVATE EQUITY FUND 1

    		     96.00     Korea   Dec. 31   Investment trust
      

    LIME PLUTO FI PRIVATE EQUITY FUND D-1

    		     99.84     Korea   Dec. 31   Investment trust

    KB Securities Co., Ltd., KB Insurance Co., Ltd., KB Asset Management Co., Ltd.

    		   

    KB Star Fund_KB Value Focus Korea Equity

    		     97.51     Luxembourg   Dec. 31   Capital investment

    KB Securities Co., Ltd.

    		   

    Aquila Global Real Assets Fund No.1 LP

    		     99.96     Cayman islands   Dec. 31   Capital investment
      

    Able Quant Asia Pacific Feeder Fund (T.E.) Limited

    		     100.00     Cayman islands   Dec. 31   Capital investment

    Able Quant Asia Pacific Feeder Fund (T.E.) Limited

    		   

    Able Quant Asia Pacific Master Fund Limited

    		     100.00     Cayman islands  

    Dec. 31

    		  

    Capital investment

    KBFG Securities America Inc.

    		   

    Global Investment Opportunity Limited

    		     100.00    

    Malaysia

    		  

    Dec. 31

    		  

    Finance and Real Estate Activities

    Hyundai Smart Index Alpha Securities Feeder Inv Trust 1

    		   

    Hyundai Smart Index Alpha Securities Master Investment Trust

    		     99.53    

    Korea

    		  

    Dec. 31

    		  

    Investment trust

    Hyundai Trust Securities Feeder Investment Trust No.1- Bond

    		   

    Hyundai Trust Securities Master Investment Trust—Bond

    		     94.29    

    Korea

    		  

    Dec. 31

    		  

    Investment trust

    Hyundai Value Plus Securities Feeder Investment Trust 1 and others

    		   

    Hyundai Value Plus Securities Master Investment Trust

    		     100.00    

    Korea

    		  

    Dec. 31

    		  

    Investment trust

    Hyundai Dynamic Mix Securities Feeder Investment Trust

    		   

    Hyundai Dynamic Mix Securities Master Investment Trust

    		     98.75    

    Korea

    		  

    Dec. 31

    		  

    Investment trust

    Hyundai Quant Long Short Securities Feeder Investment Trust

    		   

    Hyundai Quant Long Short Securities Master Investment Trust

    		     100.00    

    Korea

    		  

    Dec. 31

    		  

    Investment trust

    Aquila Global Real Assets Fund No.1 LP

    		   

    AGRAF Real Estate No.1, Senningerberg

    		     100.00     Luxembourg   Dec. 31  

    Asset-backed securitization

    AGRAF Real Estate No.1, Senningerberg

    		   

    AGRAF Real Estate Holding No.1, Senningerberg

    		     100.00     Luxembourg   Dec. 31  

    Asset-backed securitization

    AGRAF Real Estate Holding No.1, Senningerberg

    		   

    Vierte CasaLog GmbH & Co. KG and 2 others

    		     94.90     Germany   Dec. 31  

    Real Estate Activities

    KB Asset Management Co., Ltd.

    		   

    KB Asset Management Singapore Pte, Ltd.

    		     100.00     Singapore   Dec. 31  

    Collective investment and others

    JB New Jersey Private Real Estate Investment Trust No. 1

    		   

    ABLE NJ DSM INVESTMENT REIT

    		     99.18     United States of America   Dec. 31  

    Real Estate Activities

    ABLE NJ DSM INVESTMENT REIT

    		   

    ABLE NJ DSM, LLC

    		     100.00     United States of America   Dec. 31  

    Real Estate Activities

    Heungkuk Global Highclass Private Real Estate Trust 23

    		   

    HYUNDAI ABLE INVESTMENT REIT

    		     99.90     United States of America   Dec. 31  

    Real Estate Activities

    HYUNDAI ABLE INVESTMENT REIT

    		   

    HYUNDAI ABLE PATRIOTS PARK, LLC

    		     100.00     United States of America   Dec. 31  

    Real Estate Activities

    KB Insurance Co., Ltd.

    		   

    Dongbu Private Fund 16th

    		     89.52     Korea   Dec. 31  

    Investment trust

      

    Hana Landchip Real estate Private Fund 58th

    		     99.99    

    Korea

    		  

    Dec. 31

    		  

    Investment trust

      

    Hyundai Aviation Private Fund 3rd

    		     99.96    

    Korea

    		  

    Dec. 31

    		  

    Investment trust

      

    Hyundai Power Private Fund 3rd

    		     99.90    

    Korea

    		  

    Dec. 31

    		  

    Investment trust

      

    Hyundai Power Professional Investment Type Private Investment Fund No.4

    		     99.78    

    Korea

    		  

    Dec. 31

    		  

    Investment trust

      

    KB U.S. LongShort Private Securities Fund 1

    		     99.44    

    Korea

    		  

    Dec. 31

    		  

    Investment trust

    KB Insurance Co., Ltd.

    		   

    Hyundai Infra Professional Investment Type Private Investment Trust No.5

    		     99.79     Korea   Dec. 31  

    Investment trust

      

    KB SAUDI Private Special Asset Fund

    		     80.00    

    Korea

    		  

    Dec. 31

    		  

    Investment trust

      

    Meritz Private Real Estate Fund 8

    		     99.36    

    Korea

    		  

    Dec. 31

    		  

    Investment trust

    KB Asset Management Co., Ltd.

    		   

    KB Global Equity Solution Securities Feeder Fund (Equity-FoFs)

    		     74.47     Korea   Dec. 31  

    Investment trust

      

    KB Global Multiasset Income Securities Feeder Fund (Bond Mixed-FoFs)

    		     95.26    

    Korea

    		  

    Dec. 31

    		  

    Investment trust

    Kookmin Bank, KB Securities Co., Ltd., KB Asset Management Co., Ltd.

    		   

    KB Everyone TDF 2020 Securities Investment Trust - Bond Balanced-Fund of Funds

    		     52.28     Korea   Dec. 31  

    Investment trust

      

    KB Everyone TDF 2025 Securities Investment Trust - Bond Balanced-Fund of Funds3

    		    45.08    

    Korea

    		  

    Dec. 31

    		  

    Investment trust

      

    KB Everyone TDF 2030 Securities Investment Trust - Equity Balanced-Fund of Funds3

    		    48.62    

    Korea

    		  

    Dec. 31

    		  

    Investment trust

      

    KB Everyone TDF 2035 Securities Investment Trust - Equity Balanced-Fund of Funds

    		     60.74    

    Korea

    		  

    Dec. 31

    		  

    Investment trust

      

    KB Everyone TDF 2040 Securities Investment Trust - Equity Balanced-Fund of Funds

    		     67.04    

    Korea

    		  

    Dec. 31

    		  

    Investment trust

      

    KB Everyone TDF 2045 Securities Investment Trust - Equity Balanced-Fund of Funds

    		     76.84    

    Korea

    		  

    Dec. 31

    		  

    Investment trust

      

    KB Everyone TDF 2050 Securities Investment Trust - Equity Balanced-Fund of Funds

    		     52.95    

    Korea

    		  

    Dec. 31

    		  

    Investment trust

    Kookmin Bank

    		   

    Personal pension trusts and 10 other trusts1

    		    —       Korea   Dec. 31  

    Trust

     

    1 The Group controls the trust because it has power that determines the management performance over the trust and is exposed to variable returns to absorb losses through the guarantees of payment of principal, or payment of principal and fixed rate of return.
    2 Although the Group holds less than a majority of the investee’s voting rights, the Group controls these investees as it has power over relevant activities in case of default; is significantly exposed to variable returns by providing lines of credit or ABCP purchase commitments or due to acquisition of subordinated debt; and has ability to affect those returns through its power.
    3 Although the Group holds less than a majority of the investee’s voting rights, the Group controls the investee as it has power over relevant activities by managing the fund; has significant percentage of ownership; is significantly exposed to variable returns which is affected by the performance of the investees; and has ability to affect the performance through its power.
    4 Although the Group holds less than a majority of the investee’s voting rights, the Group controls the investee as it has power over relevant activities by taking the role of an operating manager and it is significantly exposed to variable returns which is affected by the performance of the investees, and has ability to affect the performance through its power.
    5 Became wholly owned subsidiaries by acquiring additional non-controlling interest in the 3rd quarter.

     

    The condensed financial information of major subsidiaries as of December 31, 2016 and 2017, is as follows:

     

        2016  
        Assets     Liabilities     Equity     Operating
    income
    (revenue)    		     Profit(loss)
    for the
    period    		     Total
    comprehensive
    income
    for the period4     		 
        (In millions of Korean won)  

    Kookmin Bank1

    		  ￦ 307,066,370     ￦ 283,741,368     ￦ 23,325,002     ￦ 17,866,478     ￦ 964,256     ￦ 958,312  

    KB Securities Co., Ltd.1,2,3

    		    32,382,795       28,198,439       4,184,356       2,444,185       (93,428 )      (65,689 ) 

    KB Kookmin Card Co., Ltd.1

    		    15,772,036       11,807,038       3,964,998       3,017,568       317,103       331,023  

    KB Life Insurance Co., Ltd.1

    		    8,887,413       8,337,849       549,564       1,480,979       12,714       (33,269 ) 

    KB Asset Management Co., Ltd.1

    		    170,781       16,605       154,176       127,435       58,756       57,503  

    KB Capital Co., Ltd.2

    		    7,428,372       6,640,305       788,067       473,253       96,785       96,740  

    KB Savings Bank Co., Ltd.

    		     1,078,130       895,921       182,209       65,938       10,319       9,897  

    KB Real Estate Trust Co., Ltd.

    		     216,687       33,713       182,974       65,230       29,270       29,636  

    KB Investment Co., Ltd.1

    		    315,878       168,491       147,387       49,425       6,170       2,388  

    KB Credit Information Co., Ltd.

    		     27,973       7,647       20,326       37,271       43       126  

    KB Data System Co., Ltd.

    		     27,037       12,655       14,382       76,394       613       722  

     

        2017  
        Assets     Liabilities     Equity     Operating
    income
    (revenue)    		     Profit(loss)
    for the
    period    		     Total
    comprehensive
    income
    for the period4     		 
        (In millions of Korean won)  

    Kookmin Bank1

    		  ￦ 329,765,927     ￦ 304,442,493     ￦ 25,323,434     ￦ 19,291,294     ￦ 2,174,705     ￦ 2,357,936  

    KB Securities Co., Ltd.1,2

    		    37,351,680       32,936,024       4,415,656       5,974,054       271,701       236,587  

    KB Insurance Co., Ltd.1,2

    		    32,351,778       29,128,747       3,223,031       8,740,682       330,286       320,756  

    KB Kookmin Card Co., Ltd.1

    		    17,658,310       13,616,481       4,041,829       3,326,048       296,831       326,887  

    KB Life Insurance Co., Ltd.1

    		    9,125,741       8,586,328       539,413       1,331,105       21,086       (10,151 ) 

    KB Asset Management Co., Ltd.1

    		    201,481       44,860       156,621       117,746       52,022       52,176  

    KB Capital Co., Ltd.1,2

    		    8,743,672       7,803,920       939,752       588,253       120,797       120,628  

    KB Savings Bank Co., Ltd.

    		     1,158,829       960,812       198,017       79,428       21,150       21,329  

    KB Real Estate Trust Co., Ltd.

    		     246,685       47,355       199,330       76,700       36,408       36,356  

    KB Investment Co., Ltd.1

    		    355,763       218,671       137,092       41,150       (4,954 )      (7,295 ) 

    KB Credit Information Co., Ltd.

    		     26,121       10,979       15,142       31,737       (5,316 )      (5,185 ) 

    KB Data System Co., Ltd.

    		     41,945       27,240       14,705       117,946       945       323  

     

    1 Financial information is based on its consolidated financial statements.
    2 The amount includes the fair value adjustments due to the merger.
    3 Profit(loss) is based on the amount of Hyundai Securities Co., Ltd. after it is included in the consolidation scope (October 2016) and the amount of KB Investment & Securities Co., Ltd. for the period
    4  Attributable to shareholders of the Parent Company.

    Nature of the risks associated with interests in consolidated structured entities

    The terms of contractual arrangements to provide financial support to a consolidated structured entity

     

      •   The Group has provided payment guarantees of ￦1,904,344 million to KL 1st Inc. and other subsidiaries.

     

      •   The Group provides capital commitment to KB Wise Star Private Real Estate Feeder Fund 1st. and 8 other subsidiaries. The unexecuted amount of the investment agreement is ￦316,966 million. Based on the capital commitment, the Group is subject to increase its investment upon the request of the asset management company or the additional agreement among investors.

     

      •   The Group provides the guarantees of payment of principal, or principal and fixed rate of return in case the operating results of the trusts are less than the guaranteed principal, or principal and fixed rate of return.

     

    Changes in subsidiaries

    The subsidiaries newly included in consolidation during the year ended December 31, 2017, are as follows:

     

    Company

    		   

     

    		     

    Description

    KB Insurance Co., Ltd. and 45 others

    		      

    Holds a majority of the ownership interests

    Able Jungdong Co., Ltd. and 42 others

    		      

    Holds the power in the case of default and exposed to variable returns by providing lines of credit, ABCP purchase commitments or acquiring subordinated debt

    KB Haeoreum private securities investment trust 70(Bond) and 3 others

    		      

    Holds the power to determine the operation of the trust and exposed to variable returns by holding significant amount of ownership interests

    KB KONEX Market Vitalization Fund and 3 other

    		      

    Holds the power by taking the role of an operating manager and exposed to variable returns by holding significant amounts of ownership interests.

    The subsidiaries excluded from consolidation during the year ended December 31, 2017, are as follows:

     

    Company

    		       

    Description

    2014ABLEOPO 2ND Co., Ltd. and 44 others

    		     

    Lost right for variable returns due to the release of debt

    Wise Mobile Eighth Securitization Specialty Co., Ltd and 5 others

    		     

    Liquidation

    Hyundai Asset Management Co., Ltd. and 17 others

    		     

    Disposal

    KB Evergreen bond fund No.98 (Bond) and 1 other

    		     

    Decrease of the interest to less than a majority

    Hyundai Trust Securities Feeder Investment Trust No.1- Bond

    		     

    Lost the power from sale of Hyundai Asset Management Co., Ltd.

    Set out below is summarized financial information for each subsidiary that has non-controlling interests that are material to the Group. The amounts disclosed for each subsidiary are before inter-company eliminations.

     

         2016     2017  
         (In millions of Korean won)  

    Non-controlling interests percentage

    		      47.98 %      —    

    Non-controlling interests

    		     

    Assets of subsidiaries

    		    ￦ 7,428,372     ￦ —    

    Liabilities of subsidiaries

    		      6,640,305       —    

    Equity of subsidiaries

    		      788,067       —    

    Non-controlling interests

    		      263,359       —    

    Profit attributable to non-controlling interests

    		     

    Operating profit of subsidiaries

    		      127,550       —    

    Profit of subsidiaries

    		      96,785       —    

    Profit attributable to non-controlling interests

    		      46,436       —    

    Cash flows of subsidiaries

    		     

    Cash flows from operating activities

    		      (1,783,799 )      —    

    Cash flows from investing activities

    		      (7,023 )      —    

    Cash flows from financing activities

    		      1,671,199       —    
      

     

     

    		    

     

     

    		  

    Net increase(decrease) in cash and cash equivalents

    		    ￦ (119,623 )    ￦ —    
      

     

     

    		    

     

     

    		  

     

     

    1 As the Group acquired the entire non-controlling interests of KB Capital during 2017, there are no subsidiaries with material non-controlling interests as of December 31, 2017.