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:DisclosureOfInterestsInAssociatesExplanatory

    Investments in associates and joint ventures as of December 31, 2016 and 2017, are as follows:

     

        2016
        Ownership
    (%)    		     Acquisition
    cost    		     Share of
    net asset
    amount    		     Carrying
    amount    		    

    Industry

    		   Location
        (In millions of Korean won)

    Associates

    		            

    JSC Bank CenterCredit

    		            

    Ordinary share10

    		     29.56     ￦ 954,104     ￦ (32,191 )    ￦ —      

    Banking

    		   Kazakhstan

    Preference share10

    		     93.15            

    KB GwS Private Securities Investment Trust

    		     26.74       113,880       133,150       129,678    

    Investment finance

    		   Korea

    KB-Glenwood Private Equity Fund2,11

    		     0.03       10       10       10    

    Investment finance

    		   Korea

    KB Star office Private real estate Investment Trust No.1

    		     21.05       20,000       20,220       19,807    

    Investment finance

    		   Korea

    Doosung Metal Co., Ltd.7

    		     26.52       —         (51 )      —      

    Manufacture of metal products

    		   Korea

    RAND Bio Science Co., Ltd.

    		     24.24       2,000       2,000       2,000    

    Research and experimental development on medical sciences and pharmacy

    		   Korea

    Balhae Infrastructure Company2

    		     12.61       130,189       133,200       133,200    

    Investment finance

    		   Korea

    IMM Investment 5th PRIVATE EQUITY FUND8

    		     98.88       10,000       9,999       9,999    

    Private equity fund

    		   Korea

    Aju Good Technology Venture Fund

    		     38.46       1,998       1,949       1,998    

    Investment finance

    		   Korea

    SY Auto Capital Co., Ltd.

    		     49.00       9,800       26,311       5,693    

    Installment loan

    		   Korea

    Wise Asset Management Co., Ltd.9

    		     33.00       —         —         —      

    Asset management

    		   Korea

    isMedia Co., Ltd.

    		     22.87       3,978       3,978       3,978    

    Semiconductor instrument manufacture

    		   Korea

    Incheon Bridge Co., Ltd.2

    		     14.99       24,677       728       728    

    Operation of highways and related facilities

    		   Korea

    Jungdong Steel Co., Ltd.7

    		     42.88       —         (423 )      —      

    Wholesale of primary metal

    		   Korea

    KB Insurance Co., Ltd. 1

    		     39.81       1,052,759       1,393,320       1,392,194    

    Non-life insurance

    		   Korea

    Kendae Co., Ltd.7

    		     41.01       —         (351 )      —      

    Screen printing

    		   Korea

    Dpaps Co., Ltd.7

    		     38.62       —         151       —      

    Wholesale of paper products

    		   Korea

    Shinla Construction Co., Ltd.7

    		     20.24       —         (545 )      —      

    Specialty construction

    		   Korea

    Shinhwa Underwear Co., Ltd.7

    		     26.24       —         (138 )      103    

    Manufacture of underwears and sleepwears

    		     Korea  

    MJT&I Co., Ltd.7

    		     22.89       —         (542 )      232    

    Wholesale of other goods

    		     Korea  

    Inno Lending Co., Ltd.2

    		     19.90       398       378       378    

    Credit rating model development

    		     Korea  

    Ejade Co., Ltd.7

    		     25.81       —         (523 )      —      

    Wholesale of underwears

    		     Korea  

    Jaeyang Industry Co., Ltd.7

    		     20.86       —         (522 )      —      

    Manufacture of luggage and other protective cases

    		     Korea  

    Terra Co., Ltd.7

    		     24.06       —         44       28    

    Manufacture of hand-operated kitchen appliances and metal ware

    		     Korea  

    KBIC Private Equity Fund No. 32

    		     2.00       2,050       2,396       2,396    

    Investment finance

    		     Korea  

    KB No.8 Special Purpose Acquisition Company2,3

    		     0.10       10       19       19    

    SPAC

    		     Korea  

    KB No.9 Special Purpose Acquisition Company2,4

    		     0.11       24       31       31    

    SPAC

    		     Korea  

    KB No.10 Special Purpose Acquisition Company2,5

    		     0.19       10       20       20    

    SPAC

    		     Korea  

    KB No.11 Special Purpose Acquisition Company2

    		     4.76       10       13       13    

    SPAC

    		     Korea  

    KB Private Equity Fund III2

    		     15.68       8,000       8,000       8,000    

    Investment finance

    		     Korea  

    Korea Credit Bureau Co., Ltd.2

    		     9.00       4,500       4,853       4,853    

    Credit information

    		     Korea  

    KoFC KBIC Frontier Champ 2010-5(PEF)

    		    50.00       23,985       25,105       24,719    

    Investment finance

    		     Korea  

    KoFC POSCO HANHWA KB shared growth Private Equity Fund No. 2

    		     25.00       22,701       24,789       24,789    

    Investment finance

    		     Korea  

    Keystone-Hyundai Securities No. 1 Private Equity Fund2

    		     5.64       1,842       1,850       1,850    

    Investment finance

    		     Korea  

    Hyundai-Tongyang Agrifood Private Equity Fund

    		     25.47       4,645       3,957       3,957    

    Investment finance

    		     Korea  
       

     

     

    		    

     

     

    		    

     

     

    		      

    Total

    		     ￦ 2,391,570     ￦ 1,761,185     ￦ 1,770,673      
       

     

     

    		    

     

     

    		    

     

     

    		      

     

        2017  
        Ownership
    (%)    		     Acquisition
    cost    		     Share of
    net asset
    amount    		     Carrying
    amount    		    

    Industry

    		   Location  
        (In millions of Korean won)  

    Associates and Joint ventures

    		            

    KB Pre IPO Secondary Venture Fund 1st2

    		     15.19     ￦ 1,671     ￦ 1,601     ￦ 1,601     Investment finance     Korea  

    KB GwS Private Securities Investment Trust

    		     26.74       113,880       134,891       131,420     Investment finance     Korea  

    KB-KDBC New Technology Business Fund12

    		     66.66       5,000       4,972       4,972     Investment finance     Korea  

    KB Star office Private real estate Investment Trust No.1

    		     21.05       20,000       20,122       19,709     Investment finance     Korea  

    Sun Surgery Center Inc.

    		     28.00       2,682       2,682       2,682     Hospital    

    		 United
    States of
    America    		  
     
     

    Dae-A Leisure Co., Ltd.7

    		     49.36       —         1,017       —       Earth works     Korea  

    Doosung Metal Co., Ltd.7

    		     26.52       —         (20 )      —       Manufacture of metal products     Korea  

    RAND Bio Science Co., Ltd.

    		     24.24       2,000       2,000       2,000     Research and experimental development on medical sciences and pharmacy     Korea  

    Balhae Infrastructure Company2

    		     12.61       101,794       105,190       105,190     Investment finance     Korea  

    Bungaejangter Inc.

    		     22.69       3,484       3,484       3,484     Portals and other internet information media service activities  

    Aju Good Technology Venture Fund

    		     38.46       8,230       7,856       8,230     Investment finance   Korea

    Acts Co., Ltd.

    		     27.78       500       500       500     Manufacture of optical lens and elements   Korea

    SY Auto Capital Co., Ltd.

    		     49.00       9,800       14,099       8,070     Installment loan   Korea

    Wise Asset Management Co., Ltd.9

    		     33.00       —         —         —       Asset management   Korea

    Incheon Bridge Co., Ltd.2

    		     14.99       9,158       (16,202 )      —       Operation of highways and related facilities   Korea

    Jungdong Steel Co., Ltd.7

    		     42.88       —         (436 )      —       Wholesale of primary metal   Korea

    Kendae Co., Ltd.7

    		     41.01       —         (223 )      127     Screen printing   Korea

    Daesang Techlon Co., Ltd.7

    		     47.73       —         97       —       Manufacture of plastic wires, bars, pipes, tubes and hoses   Korea

    Dongjo Co., Ltd.7

    		     29.29       —         691       —       Wholesale of agricultural and forestry machinery and equipment   Korea

    Dpaps Co., Ltd.7

    		     38.62       —         155       —       Wholesale of paper products   Korea

    Big Dipper Co., Ltd.

    		     29.33       440       325       440     Big data consulting  

    Builton Co., Ltd.

    		     22.22       800       800       800     Software development and supply   Korea

    Shinla Construction Co., Ltd.7

    		     20.24       —         (553 )      —       Specialty construction   Korea

    Shinhwa Underwear Co., Ltd.7

    		     26.24       —         (103 )      138     Manufacture of underwears and sleepwears   Korea

    A-PRO Co., Ltd.2

    		     12.61       1,500       1,500       1,500     Manufacture of electric power storage system  

    MJT&I Co., Ltd.7

    		     22.89       —         (601 )      127     Wholesale of other goods   Korea

    Inno Lending Co., Ltd.2

    		     19.90       398       230       230     Credit rating model development   Korea

    Jaeyang Industry Co., Ltd.7

    		     20.86       —         (522 )      —       Manufacture of luggage and other protective cases   Korea

    Jungdo Co., Ltd.7

    		     25.53       —         1,664       —       Office, commercial and institutional building construction   Korea

    Jinseung Tech Co., Ltd.7

    		     30.04       —         (173 )      —       Manufacture of other general-purpose machinery n.e.c.   Korea

    Terra Co., Ltd.7

    		     24.06       —         36       20     Manufacture of hand-operated kitchen appliances and metal ware   Korea

    Paycoms Co., Ltd.

    		     24.06       800       800       800     System software publishing   Korea

    Food Factory Co., Ltd.

    		     30.00       1,000       1,000       1,000     Farm product distribution industry   Korea

    Korea NM Tech Co., Ltd.7

    		     22.41       —         580       —       Manufacture of motor vehicles, trailers and semitrailers   Korea

    KB IGen Private Equity Fund No.12,11

    		     0.03       3       3       3     Investment finance   Korea

    KB No.8 Special Purpose Acquisition Company2 3

    		     0.10       10       20       20     SPAC   Korea

    KB No.9 Special Purpose Acquisition Company2,4

    		     0.11       24       31       31     SPAC   Korea

    KB No.10 Special Purpose Acquisition Company2,5

    		     0.19       10       20       20     SPAC   Korea

    KB No.11 Special Purpose Acquisition Company2,6

    		     0.31       10       19       19     SPAC   Korea

    KB Private Equity Fund III2

    		     15.68       8,000       7,899       7,899     Investment finance     Korea  

    Korea Credit Bureau Co., Ltd.2

    		     9.00       4,500       5,056       5,056     Credit information     Korea  

    KoFC KBIC Frontier Champ 2010-5(PEF)

    		     50.00       6,485       7,506       7,120     Investment finance     Korea  

    KoFC POSCO HANHWA KB shared growth Private Equity Fund No.2

    		     25.00       12,970       17,213       17,213     Investment finance     Korea  

    Keystone-Hyundai Securities No. 1 Private Equity Fund2

    		     5.64       1,842       1,761       1,761     Investment finance     Korea  

    POSCO-KB Shipbuilding Fund

    		     31.25       2,500       2,345       2,345     Investment finance     Korea  

    Hyundai-Tongyang Agrifood Private Equity Fund

    		     25.47       82       543       543     Investment finance     Korea  
       

     

     

    		    

     

     

    		    

     

     

    		      

    Total

    		     ￦ 319,573     ￦ 329,875     ￦ 335,070      
       

     

     

    		    

     

     

    		    

     

     

    		      

     

    1 The market value of KB Insurance Co., Ltd., reflecting the quoted market price, as of December 31, 2016, amounts to ￦522,288 million.
    2 As of December 31, 2016 and 2017, the Group is represented in the governing bodies of its associates. Therefore, the Group has a significant influence over the decision-making process relating to their financial and business policies.
    3 The market value of KB No.8 Special Purpose Acquisition Company, reflecting the quoted market price as of December 31, 2016, and 2017 amounts to ￦20 million and ￦20 million.
    4 The market value of KB No.9 Special Purpose Acquisition Company, reflecting the quoted market price as of December 31, 2016 and 2017, amounts to ￦31 million and ￦31 million, respectively.
    5 The market value of KB No.10 Special Purpose Acquisition Company, reflecting the quoted market price as of December 31, 2016 and 2017, amounts to ￦20 million and ￦20 million, respectively.
    6 The market value of KB No.11 Special Purpose Acquisition Company, reflecting the quoted market price as of December 31, 2017, amounts to ￦20 million.
    7 The investment in associates was reclassified from available-for-sale financial assets due to termination of rehabilitation procedures.
    8 Although the Group holds a majority of the investee’s voting rights, other limited partners have a right to replace general partners. Therefore, the Group has been classified the entity as investment in associates.
    9 Carrying amount of the investment has been recognized as a loss from the date Hyundai Securities Co., Ltd. was included in the consolidation scope.
    10  Market values of ordinary shares of JSC Bank CenterCredit, reflecting the published market price, as of December 31, 2016, are ￦29,358 million. The Group determined that ordinary shares and convertible preference shares issued by JSC Bank CenterCredit are the same in economic substance except for the voting rights, and therefore, the equity method accounting is applied on the basis of single ownership ratio of 41.93%, which is calculated based on ordinary and convertible preference shares held by the Group against the total outstanding ordinary and convertible preference shares issued by JSC Bank CenterCredit. On April 18, 2017, the Group transferred the entire shares of JSC Bank CenterCredit held by the Group.
    11 KB-Glenwood Private Equity Fund changed the name to KB IGen Private Equity Fund No. 1.
    12  In order to take control over the related operations, the agreement from two operative members are required. As such, the group cannot control the investee alone, and the equity method is applied.