KB Financial Group Inc. | CIK:0001445930 | 3

  • Filed: 4/27/2018
  • Entity registrant name: KB Financial Group Inc. (CIK: 0001445930)
  • Generator: Fujitsu
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    • ifrs-full:DisclosureOfRelatedPartyExplanatory

    43. Related Party Transactions

    Profit and loss arising from transactions with related parties for the years ended December 31, 2015, 2016 and 2017, are as follows:

     

             2015     2016      2017  
             (In millions of Korean won)  

    Associates and Joint Ventures

    		          

    KB Insurance Co., Ltd.1

    		   Interest income    ￦ 50     ￦ 63      ￦ 12  
      Interest expense      164       1,057        202  
      Fee and commission income      5,329       20,321        8,994  
      Fee and commission expense      —         508        1,021  
      Gains on financial assets/liabilities at fair value through profit or loss      2,761       4,822        796  
      Losses on financial assets/liabilities at fair value through profit or loss      164       3,701        18,717  
      Other operating income      759       12,972        16,743  
      Other operating expense      1,233       6,406        633  
      General and administrative expenses      3,691       14,244        5,601  
      Reversal for credit loss      —         119        —    
      Provision for credit loss      14       —          12  
      Other non-operating income      10       110        51  
      Other non-operating expense      (3,496 )      74        —    

    Balhae Infrastructure Fund

    		   Fee and commission income      7,975       8,440        7,162  

    Korea Credit Bureau Co., Ltd.

    		   Interest expense      73       92        132  
      Fee and commission income      1,822       1,648        1,374  
      Fee and commission expense      1,900       1,948        1,206  
      General and administrative expenses      2,199       1,968        2,202  
      Provision for credit loss      —         —          1  

    UAMCO., Ltd.1

    		   Interest expense      8       1        —    
      Fee and commission income      14       5        —    

    KoFC KBIC Frontier Champ 2010-5(PEF)

    		  Fee and commission income      548       457        216  

    United PF 1st Recovery Private Equity Fund1

    		   Interest expense      49       1        —    

    KB GwS Private Securities Investment Trust

    		   Fee and commission income      894       896        851  

    IMM Investment 5th PRIVATE EQUITY FUND1

    		   Other non-operating expense      —         1        —    

    Incheon Bridge Co., Ltd.

    		   Interest income      12,843       14,534        25,511  
      Interest expense      436       369        292  
      Insurance income      —         —          162  
      Reversal for credit loss      2       —          43  
      Provision for credit loss      4       31        —    

    Jaeyang Industry Co., Ltd.

    		   Interest income      —         —          98  
      Reversal for credit loss      —         37        6  

    HIMS Co., Ltd.1

    		   Interest income      —         51        —    

    KoFC POSCO HANHWA KB Shared Growth Private Equity Fund No. 2

    		   Fee and commission income      675       212        481  
     

    Interest expense

    		      —         10        —    

    Aju Good Technology Venture Fund

    		   Interest expense      —         4        14  

    KB Star Office Private Real Estate Investment Trust No.1

    		   Interest income      370        371        370  
      Interest expense      92        87        63  
      Fee and commission income      435        436        435  
      Provision for credit loss      —          —          3  

    RAND Bio Science Co., Ltd.

    		   Interest expense      —          14        16  

    Inno Lending Co., Ltd.

    		   Fee and commission income      —          —          3  
      Interest expense      —          —          1  
      Other non-operating expense      —          20        —    

    KBIC Private Equity Fund No. 31

    		   Interest expense      23        12        —    
      Fee and commission income      300        260        38  

    E-clear International Co., Ltd.

    		   Interest income      18        —          —    

    Sawnics Co., Ltd.1

    		   Interest income      1        —          —    

    SY Auto Capital Co., Ltd.

    		   Interest income      —          718        828  
      Interest expense      24        19        22  
      Fee and commission income      —          —          47  
      Fee and commission expense      —          —          2,956  
      Insurance income      —          —          29  
      Other operating income      1,588        1,606        731  
      Other operating expense      —          153        128  
      Reversal for credit losses      —          —          32  
      Provision for credit losses      1        61        —    
      Other non-operating income      —          250        51  

    Kyobo 7 Special Purpose Acquisition Co., Ltd.1

    		   Interest expense      —          —          1  

    Food Factory Co., Ltd.

    		   Interest income      —          —          24  
      Insurance income      —          —          3  
      Provision for credit losses      —          —          44  

    KB Pre IPO Secondary Venture Fund 1st

    		   Fee and commission income      —          —          83  

    Builton Co., Ltd

    		   Insurance income      —          —          1  

    KB Private Equity Fund III

    		   Fee and commission income      —          —          457  

    Wise Asset Management Co., Ltd.

    		   Interest expense      —          —          5  

    Acts Co., Ltd.

    		   Interest income      —          —          249  
      Insurance income      —          —          2  
      Losses on financial assets/liabilities at fair value through profit or loss      —          —          220  
      Provision for credit losses      —          —          66  
      General and administrative expenses      —          —          150  

    Korbi Co., Ltd.1

    		   Interest income      —          —          183  
      Provision for credit losses      —          —          89  

    Dongjo Co., Ltd.

    		   Reversal for credit losses      —          —          2  

    POSCO-KB Shipbuilding Fund

    		   Fee and commission income      —          —          257  
      Interest expense      —          —          3  

    Dae-A Leisure Co., Ltd.

    		   Interest expense      —          —          1  

    Paycoms Co., Ltd.

    		   Interest income      —          —          61  
      Provision for credit losses      —          —          32  

    Bungaejanter. Inc.

    		   Interest income      —          —          31  
      Provision for credit losses      —          —          44  

    Faromancorporation Co., Ltd.1

    		   Reverse for credit losses      —          —          345  

    Daesang Techlon Co., Ltd.

    		   Insurance income      —          —          1  

    Big Dipper Co., Ltd.

    		   Provision for credit losses      —          —          2  

    KB-KDBC New Technology Business Investment Fund

    		   Interest expense      —          —          4  

    KB No.3 Special Purpose Acquisition Company1

    		   Interest income      62        —          —    
      Interest expense      5        —          —    
      Gains on financial assets/liabilities at fair value through profit or loss      4,077        —          —    
      Reversal for credit loss      14        —          —    

    KB No.4 Special Purpose Acquisition Company1

    		   Interest income      78        —          —    
      Interest expense      25        —          —    
      Gains on financial assets/liabilities at fair value through profit or loss      172        —          —    
      Reversal for credit loss      14        —          —    

    KB No.5 Special Purpose Acquisition Company1

    		   Interest income      68        68        —    
     

    Interest expense

    		      44        19        —    
     

    Fee and commission income

    		            —    
      Gains on financial assets/liabilities at fair value through profit or loss      —          216        —    
      Losses on financial assets/liabilities at fair value through profit or loss      119        —          —    
     

    Reversal for credit loss

    		      —          29        —    
     

    Provision for credit loss

    		      16        —          —    
     

    Other non-operating income

    		      —          2        —    

    KB No.6 Special Purpose Acquisition Company1

    		   Interest income      53        55        —    
     

    Interest expense

    		      66        14        —    
      Losses on financial assets/liabilities at fair value through profit or loss      471        65        —    
     

    Other non-operating expense

    		      —          4        —    

    KB No.7 Special Purpose Acquisition Company1

    		   Interest income      34        37        —    
     

    Interest expense

    		      38        18        —    
     

    Fee and commission income

    		      150        —          —    
      Gains on financial assets/liabilities at fair value through profit or loss      998        861        —    
      Other non-operating income      —          40        —    

    KB No.8 Special Purpose Acquisition Company

    		   Interest income      41        74        75  
      Interest expense      21        35        36  
      Fee and commission income      350        —          —    
      Gains on financial assets/liabilities at fair value through profit or loss      1,951        —          —    
      Losses on financial assets/liabilities at fair value through profit or loss      —          41        170  
      Reversal for credit loss      —          50        —    
      Provision for credit loss      50        —          —    

    KB No.9 Special Purpose Acquisition Company

    		   Interest income      12        73        76  
      Interest expense      7        40        33  
      Fee and commission income      —          473        —    
      Gains on financial assets/liabilities at fair value through profit or loss      —          1,665        —    
      Losses on financial assets/liabilities at fair value through profit or loss      6        392        200  
      Reversal for credit loss      —          49        —    
      Provision for credit loss      50        —          —    

    KB No.10 Special Purpose Acquisition Company

    		   Interest income      —          17        48  
      Interest expense      —          8        24  
      Fee and commission income      —          175        —    
      Losses on financial assets/liabilities at fair value through profit or loss      —          —          103  
      Gains on financial assets/liabilities at fair value through profit or loss      —          1,497        —    
      Other non-operating income      —          5        —    

    KB No.11 Special Purpose Acquisition Company

    		   Interest income      —          3        22  
      Fee and commission income      —          —          150  
      Gains on financial assets/liabilities at fair value through profit or loss      —          16        711  

    Hyundai-Tongyang Agrifood Private Equity Fund

    		   Fee and commission income      —          —          187  

    KB IGen Private Equity Fund No. 1

    		   Fee and commission income      —          —          1,266  

    Keystone-Hyundai Securities No. 1 Private Equity Fund

    		   Fee and commission income      —          22        94  

    MJT&I Co., Ltd.

    		   Interest income      —          2        —    

    Doosung Metal Co., Ltd.

    		   Interest income      —          1        —    
      Insurance income      —          —          1  

    Other

    		           

    Retirement pension

    		   Interest expense      955        749        3  
      Fee and commission income      611        717        795  

     

    1 Excluded from the Group’s related party as of December 31, 2017.

     

    Details of receivables and payables, and related allowances for loans losses arising from the related party transactions as of December 31, 2016 and 2017 are as follows:

     

              2016      2017  
              (In millions of Korean won)  

    Associates and Joint Ventures

    		         

    KB Insurance Co., Ltd.1

    		   

    Derivative financial assets

    		    ￦ 3,941      ￦ —    
      

    Loans and receivables (Gross amount)

    		      6,791        —    
      

    Allowances for loan losses

    		      9        —    
      

    Other assets

    		      23,341        —    
      

    Derivative financial liabilities

    		      13,545        —    
      

    Deposits

    		      9,883        —    
      

    Debts

    		      20,000        —    
      

    Provisions

    		      8        —    
      

    Other liabilities

    		      6,384        —    

    Balhae Infrastructure Fund

    		   

    Other assets

    		      2,123        1,669  

    Korea Credit Bureau Co., Ltd.

    		   

    Loans and receivables (Gross amount)

    		      14        22  
      

    Deposits

    		      26,827        25,513  
      

    Provisions

    		      —          1  
      

    Other liabilities

    		      255        469  

    JSC Bank CenterCredit

    		   

    Cash and due from financial institutions

    		      8        —    

    KB GwS Private Securities Investment Trust

    		   

    Other assets

    		      673        641  

    Incheon Bridge Co., Ltd.

    		   

    Loans and receivables (Gross amount)

    		      209,105        200,414  
      

    Allowances for loan losses

    		      331        288  
      

    Other assets

    		      821        710  
      

    Deposits

    		      38,556        48,795  
      

    Provisions

    		      3        3  
      

    Insurance contract liabilities

    		      —          189  
      

    Other liabilities

    		      166        29  

    KoFC POSCO HANHWA KB Shared Growth Private Equity Fund No. 2

    		   

    Other assets

    		      98        176  

    Terra Co., Ltd.

    		   

    Deposits

    		      —          10  

    Jaeyang Industry Co., Ltd.

    		   

    Loans and receivables (Gross amount)

    		      303        —    
      

    Allowances for loan losses

    		      6        —    
      

    Other assets

    		      7        —    

    Jungdo Co., Ltd.

    		   

    Deposits

    		      —          4  

    Dongjo Co., Ltd.

    		   

    Loans and receivables (Gross amount)

    		      —          116  
      

    Allowances for loan losses

    		      —          1  

    Dae-A Leisure Co., Ltd.

    		   

    Deposits

    		      —          466  
      

    Other liabilities

    		      —          14  

    Aju Good Technology Venture Fund

    		   

    Deposits

    		      1,201        2,771  
      

    Other liabilities

    		      1        1  

    Ejade Co., Ltd.1

    		   

    Deposits

    		      2        —    

    Jungdong Steel Co., Ltd.

    		   

    Deposits

    		      3        3  

    Doosung Metal Co., Ltd.

    		   

    Insurance contract liabilities

    		      —          1  

    KB Star Office Private Real Estate Investment Trust No.1

    		   

    Loans and receivables (Gross amount)

    		      10,000        10,000  
      

    Allowances for loan losses

    		      —          3  
      

    Other assets

    		      136        136  
      

    Deposits

    		      6,682        6,962  
      

    Other liabilities

    		      50        45  

    RAND Bio Science Co., Ltd.

    		   

    Deposits

    		      2,356        1,032  
      

    Loans and receivables (Gross amount)

    		      1        1  
      

    Other liabilities

    		      12        4  

    Inno Lending Co., Ltd.

    		    Loans and receivables (Gross amount)      —          2  
       Deposits      1,902        41  

    isMedia Co., Ltd.

    		    Provisions      4        —    

    KBIC Private Equity Fund No. 31

    		    Other assets      64        —    
       Deposits      700        —    
       Other liabilities      1        —    

    SY Auto Capital Co., Ltd.

    		    Loans and receivables (Gross amount)      30,049        40,057  
       Allowances for loan losses      32        —    
       Other assets      108        51  
       Deposits      3,997        6  
       Provisions      29        29  
       Insurance contract liabilities      —          8  
       Other liabilities      70        349  

    Food Factory Co., Ltd.

    		    Loans and receivables (Gross amount)      —          679  
       Allowances for loan losses      —          44  
       Other assets      —          1  
       Deposits      —          1  
       Insurance contract liabilities      —          3  

    KB Pre IPO Secondary Venture Fund 1st

    		    Other assets      —          28  

    Builton Co., Ltd.

    		    Loans and receivables (Gross amount)      —          1  
       Deposits      —          26  
       Insurance contract liabilities      —          1  

    Wise Asset Management Co., Ltd.

    		    Deposits      —          340  
       Other liabilities      —          1  

    Acts Co., Ltd.

    		    Loans and receivables (Gross amount)      —          1,927  
       Allowances for loan losses      —          161  
       Intangible assets      —          1,275  
       Deposits      —          4  
       Insurance contract liabilities      —          1  

    POSCO-KB Shipbuilding Fund

    		    Other assets      —          123  

    Bungaejanter. Inc.

    		    Loans and receivables (Gross amount)      —          425  
       Allowances for loan losses      —          36  

    Paycoms Co., Ltd.

    		    Loans and receivables (Gross amount)      —          1,066  
       Allowances for loan losses      —          89  

    Daesang Techlon Co., Ltd.

    		    Deposits      —          2  

    Big Dipper Co., Ltd.

    		    Loans and receivables (Gross amount)      —          6  
       Provisions      —          2  

    KB-KDBC New Technology Business Investment Fund

    		    Deposits      —          7,500  
       Other liabilities      —          4  

    KB No.8 Special Purpose Acquisition Company

    		    Derivative financial assets      2,235        2,122  
       Loans and receivables (Gross amount)      2,490        2,296  
       Deposits      2,342        2,339  
       Other liabilities      3        19  

    KB No.9 Special Purpose Acquisition Company

    		    Derivative financial assets      2,441        2,241  
       Loans and receivables (Gross amount)      2,584        2,356  
       Deposits      2,399        2,309  
       Other liabilities      6        38  

    KB No.10 Special Purpose Acquisition Company

    		    Derivative financial assets      1,698        1,930  
       Loans and receivables (Gross amount)      1,495        1,603  
       Deposits      1,754        1,698  
       Other liabilities      8        10  

    KB No.11 Special Purpose Acquisition Company

    		    Derivative financial assets      135        846  
       Loans and receivables (Gross amount)      790        697  

    Key management

    		    Loans and receivables (Gross amount)      1,982        1,665  
       Other assets      2        2  
       Deposits      8,217        8,707  
       Insurance contract liabilities      413        809  
       Other liabilities      139        124  

    Other

    		         

    Retirement pension

    		    Other assets      304        348  
       Deposits      1,464        —    
       Other liabilities      16,497        4,286  

     

    1 The amounts are not disclosed as these are excluded from the Group’s related party as of December 31, 2017.

    According to IAS 24, the Group includes associates, key management (including family members), and post-employment benefit plans of the Group and its related party companies in the scope of related parties. Additionally, the Group discloses balances (receivables and payables) and other amounts arising from the related party transactions in the notes to the consolidated financial statements. See Note 13 for details on investments in associates.

    Key management includes the directors of the Parent Company, and the directors of Kookmin Bank and companies where the directors and/or their close family members have control or joint control.

    Significant loan transactions with related parties for the years ended December 31, 2016 and 2017, are as follows:

     

         20161  
         Beginning      Loans      Repayments     Others     Ending  
         (In millions of Korean won)  

    Associates

    		             

    KB Insurance Co., Ltd.2

    		   ￦ 5,013      ￦ 1,778      ￦ —       ￦ —       ￦ 6,791  

    Korea Credit Bureau Co., Ltd.

    		      19        —          (5 )      —         14  

    UAMCO., Ltd.2

    		     5        —          (5 )      —         —    

    Incheon Bridge Co., Ltd.

    		      231,674        4,000        (26,569 )      —         209,105  

    Jaeyang Industry Co., Ltd.

    		      —          —          —         303       303  

    HIMS Co., Ltd.2

    		     —          3,500        (3,500 )      —         —    

    KB Star Office Private Real Estate Investment Trust No.1

    		      10,000        —          —         —         10,000  

    RAND Bio Science Co., Ltd.

    		      —          1        —         —         1  

    SY Auto Capital Co., Ltd.

    		      34        30,067        (52 )      —         30,049  

    KB No.5 Special Purpose Acquisition Company2

    		     2,180        —          —         (2,180 )      —    

    KB No.6 Special Purpose Acquisition Company2

    		     1,710        —          —         (1,710 )      —    

    KB No.7 Special Purpose Acquisition Company2

    		     1,250        —          —         (1,250 )      —    

    KB No.8 Special Purpose Acquisition Company

    		      2,490        —          —         —         2,490  

    KB No.9 Special Purpose Acquisition Company

    		      2,584        —          —         —         2,584  

    KB No.10 Special Purpose Acquisition Company

    		      —          1,495        —         —         1,495  

    KB No.11 Special Purpose Acquisition Company

    		      —          790        —         —         790  

     

         20171  
         Beginning      Loans      Repayments     Others     Ending  
         (In millions of Korean won)  

    Associates

    		             

    KB Insurance Co., Ltd.2

    		   ￦ 6,791      ￦ —        ￦ —       ￦ (6,791 )    ￦ —    

    Korea Credit Bureau Co., Ltd.

    		      14        8        —         —         22  

    Incheon Bridge Co., Ltd.

    		      209,105        202,503        (211,194 )      —         200,414  

    Jaeyang Industry Co., Ltd.

    		      303        —          —         (303 )      —    

    KB Star Office Private Real Estate Investment Trust No.1

    		      10,000        —          —         —         10,000  

    RAND Bio Science Co., Ltd.

    		      1        —          —         —         1  

    Inno Lending Co., Ltd.

    		      —          2        —         —         2  

    SY Auto Capital Co., Ltd.

    		      30,049        44,039        (34,031 )      —         40,057  

    Food Factory Co., Ltd.

    		      —          700        —         (21 )      679  

    Builton Co., Ltd.

    		      —          1        —         —         1  

    Bungaejanter. Inc.

    		      —          400        —         25       425  

    Big Dipper Co., Ltd.

    		      —          6        —         —         6  

    KB No.8 Special Purpose Acquisition Company

    		      2,490        —          —         (194 )      2,296  

    KB No.9 Special Purpose Acquisition Company

    		      2,584        —          —         (228 )      2,356  

    KB No.10 Special Purpose Acquisition Company

    		      1,495        295        —         (187 )      1,603  

    KB No.11 Special Purpose Acquisition Company

    		      790        —          —         (93 )      697  

     

    1  Transactions and balances arising from operating activities between related parties; such as, payments, are excluded.
    2 Excluded from the Group’s related party as of December 31, 2017.

    Unused commitments to related parties as of December 31, 2016 and 2017, are as follows:

     

         2016      2017  
         (In millions of Korean won)  

    Associates and Joint Ventures

    		      
    KB Insurance Co., Ltd.1   Commitments of derivative financial instruments    ￦ 251,833      ￦ —    
     

    Unused commitments of credit card

    		      20,859        —    
    Balhae Infrastructure Company  

    Purchase of security investment

    		      13,371        12,564  
    Korea Credit Bureau Co., Ltd.  

    Unused commitments of credit card

    		      116        108  
    KoFC KBIC Frontier Champ 2010-5(PEF)  

    Purchase of security investment

    		      2,150        2,150  
    KB GwS Private Securities Investment Trust  

    Purchase of security investment

    		      876        876  
    Aju Good Technology Venture Fund  

    Purchase of security investment

    		      18,000        11,768  
    Incheon Bridge Co., Ltd.  

    Loan commitments in Korean won

    		      50,000        20,000  
     

    Unused commitments of credit card

    		      89        86  
    KoFC POSCO HANHWA KB Shared Growth Private Equity Fund No. 2  

    Purchase of security investment

    		      12,550        12,550  
    SY Auto Capital Co., Ltd.  

    Loan commitments in Korean won

    		      20,000        10,000  
     

    Unused commitments of credit card

    		      101        92  
    isMedia Co., Ltd.1  

    Loan commitments in Korean won

    		      1,260        —    
    KB No.9 Special Purpose Acquisition Company  

    Unused commitments of credit card

    		      1        1  
    KB No.10 Special Purpose Acquisition Company  

    Unused commitments of credit card

    		      4        5  
    RAND Bio Science Co., Ltd.  

    Unused commitments of credit card

    		      24        24  
    Builton Co., Ltd.  

    Unused commitments of credit card

    		      —          4  
    Food Factory Co., Ltd.  

    Unused commitments of credit card

    		      —          11  
    Inno Lending Co., Ltd.  

    Unused commitments of credit card

    		      —          13  
    Big Dipper Co., Ltd.  

    Unused commitments of credit card

    		      —          94  
    KB-KDBC New Technology Business Investment Fund  

    Purchase of security investment

    		      —          15,000  

    Key management

    		  

    Loan commitments in Korean won

    		      898        984  

     

    1 The amounts are not disclosed as these are excluded from the Group’s related party as of December 31, 2017.

    Compensation to key management for the years ended December 31, 2015, 2016 and 2017, consists of:

     

         2015  
         Short-term
    employee benefits    		      Post-employment
    benefits    		      Termination
    benefits    		      Share-based
    payments    		      Total  
         (In millions of Korean won)  

    Registered directors (executive)

    		    ￦ 1,612      ￦ 60      ￦ —        ￦ 925      ￦ 2,597  

    Registered directors (non-executive)

    		      848        —          —          —          848  

    Non-registered directors

    		      6,173        94        163        4,320        10,750  
      

     

     

    		     

     

     

    		     

     

     

    		     

     

     

    		     

     

     

    		  

    Total

    		    ￦ 8,633      ￦ 154      ￦ 163      ￦ 5,245      ￦ 14,195  
      

     

     

    		     

     

     

    		     

     

     

    		     

     

     

    		     

     

     

    		  
         2016  
         Short-term
    employee benefits    		      Post-employment
    benefits    		      Termination
    benefits    		      Share-based
    payments    		      Total  
         (In millions of Korean won)  

    Registered directors (executive)

    		    ￦ 1,165      ￦ 63      ￦ —        ￦ 863      ￦ 2,091  

    Registered directors (non-executive)

    		      796        —          —          —          796  

    Non-registered directors

    		      6,637        208        —          8,776        15,621  
      

     

     

    		     

     

     

    		     

     

     

    		     

     

     

    		     

     

     

    		  

    Total

    		    ￦ 8,598      ￦ 271      ￦ —        ￦ 9,639      ￦ 18,508  
      

     

     

    		     

     

     

    		     

     

     

    		     

     

     

    		     

     

     

    		  
         2017  
         Short-term
    employee benefits    		      Post-employment
    benefits    		      Termination
    benefits    		      Share-based
    payments    		      Total  
         (In millions of Korean won)  

    Registered directors (executive)

    		    ￦ 2,026      ￦ 87      ￦ —        ￦ 2,991      ￦ 5,104  

    Registered directors (non-executive)

    		      896        —          —          —          896  

    Non-registered directors

    		      8,420        338        —          14,610        23,368  
      

     

     

    		     

     

     

    		     

     

     

    		     

     

     

    		     

     

     

    		  

    Total

    		    ￦ 11,342      ￦ 425      ￦ —        ￦ 17,601      ￦ 29,368  
      

     

     

    		     

     

     

    		     

     

     

    		     

     

     

    		     

     

     

    		  

    Details of assets pledged as collateral to related parties as of December 31, 2016 and 2017 are as follows:

     

              2016      2017  
              Carrying
    amount    		      Collateralized
    amount    		      Carrying
    amount    		      Collateralized
    amount    		  
              (In millions of Korean won)  

    Associates

    		      

    KB Insurance Co., Ltd.1

    		   

    Land and buildings

    		    ￦ 217,369      ￦ 26,000      ￦ —        ￦ —    
       Investment securities      50,000        50,000        —          —    

     

    1 The amounts are not disclosed as these are excluded from the Group’s related party as of December 31, 2017.

    Collateral received from related parties as of December 31, 2016 and 2017, is as follows:

     

              2016      2017  
              (In millions of Korean won)  

    Associates

    		         

    KB Insurance Co., Ltd.1

    		  

    Investment securities

    		    ￦ 50,000      ￦ —    

    KB Star Office Private Real
    Estate Investment Trust No.1

    		   

    Real estate

    		      13,000        13,000  

    Key management

    		   

    Time deposits and others

    		      251        388  
       Real estate      2,759        2,287  

     

    1 The amounts are not disclosed as these are excluded from the Group’s related party as of December 31, 2017.

    As of December 31, 2017, Incheon Bridge Co., Ltd., a related party, provides fund management account, civil engineering completed risk insurance, and management rights as senior collateral amounting to ￦611,000 million to a financial syndicate that consists of the Group and five other institutions, and as subordinated collateral amounting to ￦384,800 million to subordinated debt holders that consist of the Group and two other institutions. Also, it provides certificate of credit guarantee amounting to ￦400,000 million as collateral to a financial syndicate consisting of the Group and five other institutions.