RETAIL BANKING | Tony Chua, Korea

KB Financial to shift focus to marketing

88 percent of the back office staff at Kookmin Bank to be reassigned to marketing tasks.

KB Financial Group, the nation’s No.2 lender by assets, is planning to shift a large part of its administrative staff toward assuming marketing roles as part of its restructuring strategy.

KB Financial Group Chairman Euh Yoon-dae told Yonhap on Sunday that as much as 88 percent of the back office staff at Kookmin Bank, its main affiliate, will be reassigned to marketing duties at branch offices along with 10 percent of the bank’s headquarters staff. This will involve a total of 1,150 employees.

The emphasis on marketing activity reflects the influence of Kookmin Bank’s new chief executive, Min Byung-duk, who previously led the bank’s marketing strategy.

The staff restructuring is aimed at improving the group’s productivity, said Euh, who added that the top management will focus on reform measures in the second half of the year.

View the full story in JoongAng Daily.

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