Exhibit 99.2

KB Financial Group Inc.

Separate Interim Financial Statements

June 30, 2023 and 2022

(Unaudited)

KB Financial Group Inc.

	Page(s)
Report on Review of Condensed Separate Interim Financial Statements		1-2
Separate Interim Financial Statements
Separate Interim Statements of Financial Position		3
Separate Interim Statements of Comprehensive Income		4
Separate Interim Statements of Changes in Equity		5
Separate Interim Statements of Cash Flows		6
Notes to the Separate Interim Financial Statements		7

Report on Review of Condensed Separate Interim Financial Statements

(English Translation of a Report Originally Issued in Korean)

To the Shareholders and the Board of Directors of

KB Financial Group Inc.

Reviewed Financial Statements

We have reviewed the accompanying condensed separate interim financial statements of KB Financial Group Inc. (the “Company”). These condensed separate interim financial statements consist of the separate interim statement of financial position of the Company as of June 30, 2023 and the related separate interim statements of comprehensive income for the three-month and six-month periods ended June 30, 2023, changes in equity and cash flows for the six-month period ended June 30, 2023, and material accounting policies and other selected explanatory notes, expressed in Korean Won.

Management’s Responsibility for the Financial Statements

Management is responsible for the preparation and presentation of these condensed separate interim financial statements in accordance with International Financial Reporting Standards as adopted by the Republic of Korea (“Korean IFRS”) No.1034 Interim Financial Reporting, and for such internal control as management determines is necessary to enable the preparation of condensed separate interim financial statements that are free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility

Our responsibility is to issue a report on these condensed separate interim financial statements based on our review.

We conducted our review in accordance with quarterly or semi-annual review standards established by the Securities and Futures Commission of the Republic of Korea. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Korean Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe the accompanying condensed separate interim financial statements are not prepared, in all material respects, in accordance with Korean IFRS 1034 Interim Financial Reporting.

1

Other Matters

The separate interim statements of comprehensive income for the three-month and six-month periods ended June 30, 2022, changes in equity and cash flows for the six-month period ended on June 30, 2022, presented herein for comparative purposes, were reviewed by another auditor who expressed their review conclusion that nothing has come to their attention that causes them to believe the condensed separate interim financial statements do not present fairly, in all material respects, in accordance with Korean IFRS No. 1034 Interim Financial Reporting on August 16, 2022.

The separate statement of financial position as of December 31, 2022, and the separate statements of comprehensive income, changes in equity and cash flows for the year then ended, not presented herein, were audited by another auditor who expressed an unqualified opinion on those statements on March 7, 2023. The separate statement of financial position as of December 31, 2022, presented herein for comparative purposes, is consistent, in all material respects, with the above audited statement of financial position as of December 31, 2022.

Review standards and their application in practice vary among countries. The procedures and practices used in the Republic of Korea to review such financial statements may differ from those generally accepted and applied in other countries.

/s/ Samil PricewaterhouseCoopers

Seoul, Korea

August 14, 2023

This report is effective as of August 14, 2023, the review report date. Certain subsequent events or circumstances, which may occur between the review report date and the time of reading this report, could have a material impact on the accompanying condensed separate interim financial statements and notes thereto. Accordingly, the readers of the review report should understand that there is a possibility that the above review report may have to be revised to reflect the impact of such subsequent events or circumstances, if any.

2

KB Financial Group Inc.

Separate Interim Statements of Financial Position

June 30, 2023 and December 31, 2022

(In millions of Korean won)

	Notes		June 30, 2023 (Unaudited)			December 31, 2022
Assets
Cash and due from financial institutions		4,5,6,22	W	1,202,390		W	351,056
Financial assets at fair value through profit or loss		4,5,7		1,548,931			1,522,314
Loans measured at amortized cost		4,5,8		522,326			522,326
Investments in subsidiaries		9		26,717,817			26,741,438
Property and equipment				2,627			3,552
Intangible assets				15,505			16,752
Net defined benefit assets		12		3,532			4,288
Deferred income tax assets		10		11,574			19,904
Other assets		4,5		669,530			1,272,197
Total assets			W	30,694,232		W	30,453,827
Liabilities
Debentures		4,5,11		4,169,434			4,956,949
Current income tax liabilities				463,881			926,573
Other liabilities		4,5		195,516			338,489
Total liabilities				4,828,831			6,222,011
Equity		13
Share capital				2,090,558			2,090,558
Hybrid securities				5,032,518			4,433,981
Capital surplus				14,754,747			14,754,747
Accumulated other comprehensive loss				(5,822	)		(5,847	)
Retained earnings				4,859,237			3,794,565
Treasury shares				(865,837	)		(836,188	)
Total equity				25,865,401			24,231,816
Total liabilities and equity			W	30,694,232		W	30,453,827

The above separate interim statements of financial position should be read in conjunction with the accompanying notes.

3

KB Financial Group Inc.

Separate Interim Statements of Comprehensive Income

Three-Month and Six-Month Periods Ended June 30, 2023 and 2022

(In millions of Korean won, except per share amounts)

	Notes		2023 (Unaudited)						2022 (Unaudited)
			Three months			Six months			Three months			Six months
Interest income			W	11,479		W	18,149		W	4,369		W	7,485
Interest income from financial instruments at amortized cost				10,800			16,351			3,710			6,165
Interest income from financial instruments at fair value through profit or loss				679			1,798			659			1,320
Interest expense				(24,859	)		(51,583	)		(26,734	)		(54,592	)
Net interest expense		15		(13,380	)		(33,434	)		(22,365	)		(47,107	)
Fee and commission income				409			781			356			1,159
Fee and commission expense				(3,498	)		(5,117	)		(3,724	)		(5,294	)
Net fee and commission expense		16		(3,089	)		(4,336	)		(3,368	)		(4,135	)
Net gains (losses) on financial instruments at fair value through profit or loss		17		6,242			51,670			(16,435	)		(16,860	)
Net other operating income		18		—			2,192,380			—			1,671,224
General and administrative expenses		19		(22,979	)		(45,881	)		(18,925	)		(41,646	)
Operating income (loss) before provision for credit losses				(33,206	)		2,160,399			(61,093	)		1,561,476
Provision for credit losses				(7	)		(7	)		(5	)		(2	)
Net operating income (loss)				(33,213	)		2,160,392			(61,098	)		1,561,474
Net non-operating income (expenses)				4,393			4,406			(339	)		(435	)
Profit (loss) before income tax benefit				(28,820	)		2,164,798			(61,437	)		1,561,039
Income tax benefit		20		2,370			(8,321	)		7,315			8,644
Profit (loss) for the period				(26,450	)		2,156,477			(54,122	)		1,569,683
Items that will not be reclassified to profit or loss:
Remeasurements of net defined benefit liabilities				8			25			(169	)		(281	)
Other comprehensive loss for the period, net of tax				8			25			(169	)		(281	)
Total comprehensive income (loss) for the period			W	(26,442	)	W	2,156,502		W	(54,291	)	W	1,569,402
Earnings (loss) per share		21
Basic earnings (loss) per share			W	(194	)	W	5,354		W	(212	)	W	3,897
Diluted earnings (loss) per share				(188	)		5,234			(206	)		3,811

The above separate interim statements of comprehensive income should be read in conjunction with the accompanying notes.

4

KB Financial Group Inc.

Separate Interim Statements of Changes in Equity

Six-Month Periods Ended June 30, 2023 and 2022

(In millions of Korean won)

	Share capital		Hybrid securities		Capital surplus		Accumulated other comprehensive income			Retained earnings			Treasury shares			Total equity
Balance as of January 1, 2022	W	2,090,558	W	2,837,981	W	14,754,747	W	(8,330	)	W	3,974,206		W	(1,136,188	)	W	22,512,974
Comprehensive income for the period
Profit for the period		—		—		—		—			1,569,683			—			1,569,683
Remeasurements of net defined benefit liabilities		—		—		—		(281	)		—			—			(281	)
Total comprehensive income for the period		—		—		—		(281	)		1,569,683			—			1,569,402
Transactions with shareholders
Annual dividends		—		—		—		—			(853,299	)		—			(853,299	)
Quarterly dividends		—		—		—		—			(194,817	)		—			(194,817	)
Retirement of treasury shares		—		—		—		—			(150,000	)		150,000			—
Issuance of hybrid securities		—		1,097,301		—		—			—			—			1,097,301
Dividends on hybrid securities		—		—		—		—			(51,183	)		—			(51,183	)
Total transactions with shareholders		—		1,097,301		—		—			(1,249,299	)		150,000			(1,998	)
Balance as of June 30, 2022 (Unaudited)	W	2,090,558	W	3,935,282	W	14,754,747	W	(8,611	)	W	4,294,590		W	(986,188	)	W	24,080,378
Balance as of January 1, 2023	W	2,090,558	W	4,433,981	W	14,754,747	W	(5,847	)	W	3,794,565		W	(836,188	)	W	24,231,816
Comprehensive income for the period
Profit for the period		—		—		—		—			2,156,478			—			2,156,478
Remeasurements of net defined benefit liabilities		—		—		—		25			—			—			25
Total comprehensive income for the period		—		—		—		25			2,156,478			—			2,156,503
Transactions with shareholders
Annual dividends		—		—		—		—			(564,970	)		—			(564,970	)
Quarterly dividends		—		—		—		—			(195,967	)		—			(195,967	)
Acquisition of treasury shares		—		—		—		—			—			(271,745	)		(271,745	)
Retirement of treasury shares		—		—		—		—			(242,096	)		242,096			—
Issuance of hybrid securities		—		598,537		—		—			—			—			598,537
Dividends on hybrid securities		—		—		—		—			(88,773	)		—			(88,773	)
Total transactions with shareholders		—		598,537		—		—			(1,091,806	)		(29,649	)		(522,918	)
Balance as of June 30, 2023 (Unaudited)	W	2,090,558	W	5,032,518	W	14,754,747	W	(5,822	)	W	4,859,237		W	(865,837	)	W	25,865,401

The above separate interim statements of changes in equity should be read in conjunction with the accompanying notes.

5

KB Financial Group Inc.

Separate Interim Statements of Cash Flows

Six-Month Periods Ended June 30, 2023 and 2022

(In millions of Korean won)

	Notes		2023 (Unaudited)			2022 (Unaudited)
Cash flows from operating activities
Profit for the period			W	2,156,477		W	1,569,683
Adjustment for non-cash items
Depreciation and amortization expense				2,717			2,838
Reversal of provision for credit losses				7			2
Share-based payments				2,886			1,689
Net interest expense				1,307			1,586
Valuation losses (gains) on financial assets at fair value through profit or loss				(25,814	)		31,754
Disposal gains of subsidiaries				(3,917	)		—
Other expenses				762			1,121
				(22,052	)		38,990
Changes in operating assets and liabilities
Due from financial institutions				30,000			(30,000	)
Deferred income tax assets				8,321			(8,644	)
Other assets				(6,037	)		16,011
Other liabilities				815			(14,969	)
				33,099			(37,602	)
Net cash inflow from operating activities				2,167,524			1,571,071
Cash flows from investing activities
Acquisition of financial assets at fair value through profit or loss				(300,000	)		(600,000	)
Disposal of financial assets at fair value through profit of loss				300,000			—
Disposal of subsidiaries				27,539			—
Acquisition of property and equipment				(101	)		(1,390	)
Acquisition of intangible assets				(140	)		(62	)
Disposal of intangible assets				34			20
Net decrease (increase) in guarantee deposits paid				(80	)		(2,325	)
Other investing activities				(349	)		(790	)
Net cash inflow (outflow) from investing activities				26,903			(604,547	)
Cash flows from financing activities
Decrease in borrowings				—			—
Increase in debentures				109			498,898
Decrease in debentures				(790,000	)		(730,000	)
Dividends paid to shareholders				(760,937	)		(1,048,116	)
Redemption of principal elements of lease payments				(284	)		(266	)
Acquisition of treasury shares				(271,745	)		—
Issuance of hybrid securities				598,537			1,097,301
Dividends paid on hybrid securities				(88,773	)		(51,183	)
Net cash inflow (outflow) from financing activities				(1,313,093	)		(233,366	)
Net increase in cash and cash equivalents				881,334			733,158
Cash and cash equivalents at the beginning of the period		22		231,053			518,073
Cash and cash equivalents at the end of the period		22	W	1,112,387		W	1,251,231

The above separate interim statements of changes in equity should be read in conjunction with the accompanying notes.

6

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2023 and 2022 (Unaudited), and December 31, 2022

1. The Company

KB Financial Group Inc. (the “Company”), in accordance with Financial Holding Companies Act, was established on September 29, 2008, through stock transfers with the former shareholders of Kookmin Bank, KB Investment & Securities Co., Ltd., KB Asset Management Co., Ltd., KB Real Estate Trust Co., Ltd., KB Investment Co., Ltd., KB Futures Co., Ltd., KB Credit Information Co., Ltd., and KB Data Systems Co., Ltd., and the Company’s main business purpose is to control subsidiaries that engage in the financial business or subsidiaries closely related to the financial business through the stock ownership. The headquarter is located at 26, Gukjegeumyung-ro 8-gil, Yeongdeungpo-gu, Seoul. The Company’s share capital as of June 30, 2023, is W 2,090,558 million. In 2011, Kookmin Bank spun off its credit card business segment and established a new separate credit card company, KB Kookmin Card Co., Ltd., and KB Investment & Securities Co., Ltd. merged with KB Futures Co., Ltd. The Company established KB Savings Bank Co., Ltd. in January 2012, acquired Yehansoul Savings Bank Co., Ltd. in September 2013, and KB Savings Bank Co., Ltd. merged with Yehansoul Savings Bank Co., Ltd. in January 2014. In March 2014, the Company acquired Woori Financial Co., Ltd. and changed the name to KB Capital Co., Ltd. Meanwhile, the Company included LIG Insurance Co., Ltd. as an associate and changed the name to KB Insurance Co., Ltd. in June 2015, and KB Insurance Co., Ltd. became one of the subsidiaries through a tender offer in May 2017. Also, the Company included Hyundai Securities Co., Ltd. as an associate in June 2016 and included as a subsidiary in October 2016 by comprehensive exchange of shares. Hyundai Securities Co., Ltd. merged with KB Investment & Securities Co., Ltd. in December 2016 and changed its name to KB Securities Co., Ltd. in January 2017. In August 2020, the Group acquired Prudential Life Insurance Company of Korea Ltd. which was classified as a subsidiary and the name was changed to KB Life Insurance Co., Ltd. in December 2022. Then in January 2023, it merged with another existing KB Life Insurance Co., Ltd. The Company sold 100% shares of KB Credit Information Co., Ltd. to KB Kookmin Card Co., Ltd. on June 30, 2023.

The Company has been listed on the Korea Exchange (“KRX”) since October 10, 2008, and on the New York Stock Exchange (“NYSE”) for its American Depositary Shares (“ADS”) since September 29, 2008. Number of shares authorized on its Articles of Incorporation is 1,000 million.

2. Basis of Preparation

2.1 Application of Korean IFRS

The Company maintains its accounting records in Korean won and prepares statutory financial statements in the Korean language in accordance with International Financial Reporting Standards as adopted by the Republic of Korea (“Korean IFRS”). The accompanying separate financial statements have been translated into English from the Korean language separate financial statements.

The separate financial statements of the Company have been prepared in accordance with Korean IFRS. Korean IFRS are the standards and related interpretations issued by the International Accounting Standards Board (“IASB”) that have been adopted by the Republic of Korea.

The preparation of separate financial statements requires the use of certain critical accounting estimates. Management also needs to exercise judgment in applying the Company’s accounting policies. The areas that require a more complex and higher level of judgment or areas that require significant assumptions and estimations are disclosed in Note 2.4.

The separate financial statements have been prepared in accordance with Korean IFRS No.1027 Separate Financial Statements.

7

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2023 and 2022 (Unaudited), and December 31, 2022

2.1 Application of Korean IFRS (cont’d)

The Company’s condensed separate interim financial statements for the six-month period ended June 30, 2023, have been prepared in accordance with Korean IFRS No.1034 Interim Financial Reporting and contain less information than is required in annual separate financial statements. Selected explanatory notes include descriptions of transactions or events that are significant in understanding change in financial position and financial performance of the Company since the end of the previous annual reporting period. These condensed separate interim financial statements have been prepared in accordance with Korean IFRS which is effective or early adopted as of June 30, 2023.

2.1.1 The Company has applied the following new and amended standards for the first time for its annual reporting period commencing January 1, 2023.

• Issuance of Korean IFRS No.1117 Insurance Contracts

Korean IFRS No.1117 Insurance Contracts replaced Korean IFRS No.1104 Insurance Contracts. This standard requires an entity to estimate future cash flows of an insurance contract and measure insurance liabilities using discount rates applied with assumptions and risks at the measurement date and recognize insurance revenue on an accrual basis including services (insurance coverage) provided to the policyholder by each annual reporting period. In addition, investment components (refunds due to termination and maturity) repaid to a policyholder even if an insured event does not occur, are excluded from insurance revenue. These amendments do not have a significant impact on the financial statements.

• Amendments to Korean IFRS No.1001 Presentation of Financial Statements - Accounting Policy Disclosure

The amendments require an entity to define and disclose their material accounting policy information. IFRS Practice Statement 2 Making Materiality Judgements was amended to explain and demonstrate how to apply the concept of materiality. These amendments do not have a significant impact on the financial statements.

• Amendments to Korean IFRS No.1008 Accounting Policies, Changes in Accounting Estimates and Errors - Definition of Accounting Estimates

The amendments introduce the definition of accounting estimates and clarify how to distinguish changes in accounting estimates from changes in accounting policies. These amendments do not have a significant impact on the financial statements.

• Amendments to Korean IFRS No.1012 Income Taxes - Deferred Tax Related to Assets and Liabilities Arising from a Single Transaction

The amendments narrow the scope of the deferred tax recognition exemption so that it no longer applies to transactions that, on initial recognition, give rise to equal taxable and deductible temporary differences. These amendments do not have a significant impact on the financial statements.

8

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2023 and 2022 (Unaudited), and December 31, 2022

2.1.2 The following amended standards have been published that are not mandatory for June 30, 2023 reporting period and have not been adopted by the Company.

• Amendments to Korean IFRS No.1001 Presentation of Financial Statements - Disclosure of gains or losses on valuation of financial liabilities subject to exercise price adjustment conditions

The amendments require disclosures about gains or losses on valuation occurred for the reporting period (but are limited to those included in profit or loss) for the conversion options or warrants (or financial liabilities with warrants), if all or part of the financial instrument whose exercise price is adjusted due to the issuers’ stock price fluctuations, are classified as financial liabilities according to paragraph 11 of Korean IFRS No.1032 Financial Instruments: Presentation. These amendments do not have a significant impact on the financial statements.

2.1.3 The following are the accounting standards that have been established or announced but have not yet been implemented, which the Group has not applied

• Amendment of K-IFRS No.1001 “Presentation of Financial Statements” - Classification of Liabilities into Current and Non-Current

Liabilities are classified as current or non-current based on their substantive rights existing at the end of the reporting period, without considering the possibility of exercising the right to delay the payment or the management’s expectations. Also, if the transfer of equity instruments is included in the payment of liabilities, it is excluded if the option to pay with equity instruments is recognized separately from the liability in a compound financial instrument and meets the definition of equity instruments. This amendment will be applied to the financial statements for the accounting year beginning on or after January 1, 2024. The Company expects that this amendment will not have a significant impact on the financial statements.

2.2 Measurement Basis

The separate financial statements have been prepared under the historical cost convention unless otherwise specified.

2.3 Functional and Presentation Currency

Items included in the separate financial statements of the Company are measured using the currency of the primary economic environment in which the Company operates (“functional currency”). The separate financial statements are presented in Korean won, which is the Company’s functional and presentation currency.

2.4 Critical Accounting Estimates

The Company applies accounting policies and uses judgements, accounting estimates, and assumptions that may have a significant impact on the assets (liabilities) and incomes (expenses) in preparing the separate financial statements. Management’s estimates of outcomes may differ from actual outcomes if management’s estimates and assumptions based on management’s best judgment are different from the actual environment.

Estimates and underlying assumptions are continually evaluated, and changes in accounting estimates are recognized in the period in which the estimates are changed and in any future periods affected.

Uncertainties in estimates and assumptions with significant risks used in the preparation of the financial statements are the same as 2022 financial statements, except for the method of estimating income tax expense.

9

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2023 and 2022 (Unaudited), and December 31, 2022

3. Material Accounting Policies

The material accounting policies and calculation methods applied in the preparation of these condensed separate interim financial statements are the same as those applied to the separate financial statements for the year ended December 31, 2022, except for the impact of changes due to adopting new and amended standards and interpretations described in Note 2.1 and below paragraph.

Income tax expense for the interim period is measured applying the expected average annual income tax rate applicable on expected total annual income.

4. Financial Risk Management

4.1 Summary

4.1.1 Overview of financial risk management policy

The financial risks that the Company is exposed to are credit risk, market risk, liquidity risk, operational risk and others.

This note regarding financial risk management provides information about the risks that the Company is exposed to and about its objectives, policies, risk assessment and management procedures, and capital management. Additional quantitative information is disclosed throughout the separate financial statements.

The Company’s risk management system focuses on efficiently supporting long-term strategy and management decisions of the Company by increasing risk transparency, preventing risk transfer between subsidiaries and preemptive response to rapidly changing financial environments. Credit risk, market risk, liquidity risk, operational risk, interest rate risk, insurance risk, credit concentration risk, strategy risk, and reputation risk are recognized as significant risks.

4.1.2 Risk management organization

4.1.2.1 Risk Management Committee

The Risk Management Committee, as the ultimate decision-making body, deals with risk-related issues, such as establishing risk management strategies in accordance with the strategic direction determined by the board of directors, determining the affordable level of risk appetite, reviewing the level of risk and the status of risk management activities, approving the application of risk management systems, methodologies, and major improvements, and establishing and approving risk management policies and procedures to timely recognize, measure, monitor, and control risks arising from various transactions by the Company and subsidiaries (the “Group”).

4.1.2.2 Risk Management Council

The Risk Management Council is responsible for consulting on matters delegated by the Risk Management Committee and requests for review by the Group Management Executive Committee, consulting on details of each subsidiary’s risk management policies and procedures, monitoring the Group’s risk management status, and establishing and implementing necessary measures.

10

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2023 and 2022 (Unaudited), and December 31, 2022

4.1.2.3 Risk Management Department

The Risk Management Department performs the Company’s risk management detailed policies, procedures, and business processes, and is responsible for calculating the Group’s risk-weighted assets, monitoring and managing internal capital limits.

4.2 Credit Risk

4.2.1 Overview of credit risk

Credit risk is the risk of loss from the portfolio of assets held due to the counterparty’s default, breach of contract, and deterioration of credit quality. For risk management purposes, the Company considers default risk of individual borrowers.

4.2.2 Credit risk management

The Company measures the expected losses of assets subject to credit risk management and uses them as a management indicator.

4.2.3 Maximum exposure to credit risk

The Company’s maximum exposures to credit risk without consideration of collateral values in relation to financial instruments other than equity securities as of June 30, 2023 and December 31, 2022, are as follows:

(In millions of Korean won)	June 30, 2023		December 31, 2022
Due from financial institutions	W	1,202,390	W	351,056
Loans measured at amortized cost *		522,326		522,326
Loans measured at fair value through profit or loss		45,751		343,525
Other financial assets *		58,216		44,841
	W	1,828,683	W	1,261,748

* After netting of allowance

4.2.4 Credit risk of loans

The Company maintains allowances for loan losses associated with credit risk of loans to manage its credit risk.

The Company assesses expected credit losses and recognizes loss allowances of financial assets at amortized cost and financial asset at fair value through other comprehensive income. Financial assets at fair value through profit or loss are excluded. Expected credit losses are a probability-weighted estimate of possible credit losses occurring in a certain range by reflecting reasonable and supportable information that is reasonably available at the end of the reporting period without undue cost or effort, including information about past events, current conditions, and forecasts of future economic conditions. The Company measures the expected credit losses on loans classified as financial assets at amortized cost, by deducting allowances for credit losses. The expected credit losses of loans classified as financial assets at fair value through other comprehensive income are presented in other comprehensive income in the financial statements.

11

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2023 and 2022 (Unaudited), and December 31, 2022

4.2.4 Credit risk of loans (cont’d)

Credit qualities of loans measured at amortized cost as of June 30, 2023 and December 31 2022, are classified as follows:

(In millions of Korean won)

	June 30, 2023
	12-month expected credit losses		Lifetime expected credit losses				Not applying expected credit losses		Total
			Non-impaired		Impaired
Loans measured at amortized cost *
Corporate
Grade 1	W	523,500	W	—	W	—	W	—	W	523,500
Grade 2		—		—		—		—		—
Grade 3		—		—		—		—		—
Grade 4		—		—		—		—		—
Grade 5		—		—		—		—		—
	W	523,500	W	—	W	—	W	—	W	523,500

(In millions of Korean won)

	December 31, 2022
	12-month expected credit losses		Lifetime expected credit losses				Not applying expected credit losses		Total
			Non-impaired		Impaired
Loans measured at amortized cost *
Corporate
Grade 1	W	523,500	W	—	W	—	W	—	W	523,500
Grade 2		—		—		—		—		—
Grade 3		—		—		—		—		—
Grade 4		—		—		—		—		—
Grade 5		—		—		—		—		—
	W	523,500	W	—	W	—	W	—	W	523,500

* Before netting of allowance

Credit qualities of loans graded according to the probability of default as June 30, 2023 and December 31 2022, are as follows:

	Range of probability of default (%)
Grade 1	0.0 ~ 1.0
Grade 2	1.0 ~ 5.0
Grade 3	5.0 ~ 15.0
Grade 4	15.0 ~ 30.0
Grade 5	30.0 ~

12

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2023 and 2022 (Unaudited), and December 31, 2022

4.2.5 Credit risk of due from financial institutions

Credit qualities of due from financial institutions as of June 30, 2023 and December 31 2022, are as follows:

(In millions of Korean won)

	June 30, 2023
	12-month expected credit losses		Lifetime expected credit losses				Not applying expected credit losses		Total
			Non-impaired		Impaired
Due from financial institutions measured at amortized cost
Grade 1	W	1,202,390	W	—	W	—	W	—	W	1,202,390
Grade 2		—		—		—		—		—
Grade 3		—		—		—		—		—
Grade 4		—		—		—		—		—
Grade 5		—		—		—		—		—
	W	1,202,390	W	—	W	—	W	—	W	1,202,390

(In millions of Korean won)

	December 31, 2022
	12-month expected credit losses		Lifetime expected credit losses				Not applying expected credit losses		Total
			Non-impaired		Impaired
Due from financial institutions measured at amortized cost
Grade 1	W	351,056	W	—	W	—	W	—	W	351,056
Grade 2		—		—		—		—		—
Grade 3		—		—		—		—		—
Grade 4		—		—		—		—		—
Grade 5		—		—		—		—		—
	W	351,056	W	—	W	—	W	—	W	351,056

13

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2023 and 2022 (Unaudited), and December 31, 2022

4.2.6 Credit risk concentration analysis

4.2.6.1 Classifications of corporate loans by industry as of June 30, 2023 and December 31, 2022, are as follows:

(In millions of Korean won)	June 30, 2023
	Corporate loans *		%		Allowances			Carrying amount
Financial institutions	W	569,251		100.00	W	(1,174	)	W	568,077
(In millions of Korean won)	December 31, 2022
	Corporate loans *		%		Allowances			Carrying amount
Financial institutions	W	867,025		100.00	W	(1,174	)	W	865,851

* Amount includes loans measured at fair value through profit or loss and amortized cost.

4.2.6.2 Classifications of due from financial institutions by industry as of June 30, 2023 and December 31 2022, are as follows:

(In millions of Korean won)	June 30, 2023
	Amount		%		Allowances		Carrying amount
Due from financial institutions measured at amortized cost
Financial institutions	W	1,202,390		100.00	W	—	W	1,202,390
(In millions of Korean won)	December 31, 2022
	Amount		%		Allowances		Carrying amount
Due from financial institutions measured at amortized cost
Financial institutions	W	351,056		100.00	W	—	W	351,056

14

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2023 and 2022 (Unaudited), and December 31, 2022

4.3 Liquidity Risk

4.3.1 Overview of liquidity risk

Liquidity risk is a risk that the Company becomes insolvent due to the mismatch between the inflow and outflow of funds, unexpected cash outflows, or a risk of loss due to financing funds at a high interest rate or disposing of securities at an unfavorable price due to lack of available funds. The Company manages its liquidity risk through analysis of the contractual maturity of all financial assets and liabilities and discloses in six categories such as on demand, less than one month, between one month to three months, between three months to one year, between one year to five years, and over five years.

4.3.2. Liquidity risk management

The liquidity risk is managed by risk management policies and liquidity risk management guidelines set forth in these policies that apply to all risk management policies and procedures that may arise throughout the overall business of the Company.

4.3.3. Analysis of remaining contractual maturity of financial liabilities

The cash flows disclosed in the maturity analysis are undiscounted contractual amounts including principal and future interest payments; as such, amounts in the table below do not match with those in the statements of financial position which are based on discounted cash flows. The future interest payments for floating-rate liabilities are calculated on the assumption that the current interest rate is the same until maturity.

Remaining contractual maturity of financial liabilities as of June 30, 2023 and December 31 2022, are as follows:

(In millions of Korean won)	June 30, 2023
	On Demand		Up to 1 month		1-3 months		3-12 months		1-5 years		Over 5 years		Total
Financial liabilities
Debentures	W	—	W	74,293	W	68,558	W	897,960	W	2,301,420	W	1,197,317	W	4,539,548
Lease liabilities		—		53		95		325		333		—		806
Other financial liabilities		—		10,553		—		11,640		—		—		22,193
	W	—	W	84,899	W	68,653	W	909,925	W	2,301,753	W	1,197,317	W	4,562,547
(In millions of Korean won)	December 31, 2022
	On Demand		Up to 1 month		1-3 months		3-12 months		1-5 years		Over 5 years		Total
Financial liabilities
Debentures	W	—	W	275,723	W	160,712	W	756,380	W	2,863,695	W	1,330,748	W	5,387,258
Lease liabilities		—		49		88		381		330		—		848
Other financial liabilities		—		1,620		—		—		—		—		1,620
	W	—	W	277,392	W	160,800	W	756,761	W	2,864,025	W	1,330,748	W	5,389,726

15

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2023 and 2022 (Unaudited), and December 31, 2022

4.4 Market Risk

4.4.1 Concept

Market risk refers to risks that can result in losses due to changes in market factors such as interest rate, stock price, and foreign exchange rate, etc. The Company manages the market risks by dividing them into those arising from the trading position and those arising from the non-trading position.

4.4.2 Trading position

In accordance with Financial Holding Companies Act, the Company’s main business is to control financial companies or companies closely related to the financial service. And the Company cannot perform any other business other than managing activities as a holding company, therefore there is no risk of trading position.

4.4.3 Non-trading position

Non-trading position refers to the part except trading position, and the main risk the Company is managing is interest rate risk.

4.4.3.1 Definition of interest rate risk

Interest rate risk refers to the risk of changes in the value (fair value) of the items in the statement of financial position due to changes in interest rate and the risk of changes in cash flows related to interest income and interest expense arising from investment and financing activities.

4.4.3.2 Observation method and management indicator on interest rate risk

The main objective of interest rate risk management is to protect the value changes from interest rate fluctuations. In addition to the Interest Rate Risk in the Banking Book (“IRRBB”) standard methodology required for disclosure, the Company applies the IRRBB methodology to measure and manage interest rate risk in a historical-simulation VaR method including interest rate volatility during the past financial crisis (FY2008-FY2009).

16

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2023 and 2022 (Unaudited), and December 31, 2022

5. Financial Assets and Financial Liabilities

5.1 Classification and Fair Value of Financial Instruments

5.1.1 Carrying amount and fair value of financial assets and liabilities by category as of June 30, 2023 and December 31, 2022, are as follows:

(In millions of Korean won)	June 30, 2023
	Carrying amount		Fair value
Financial assets
Financial assets at fair value through profit or loss
Hybrid securities	W	992,124	W	992,124
Beneficiary certificates		511,056		511,056
Loans		45,751		45,751
Financial assets at amortized cost
Due from financial institutions		1,202,390		1,202,390
Loans		522,326		522,326
Other financial assets		58,216		58,216
	W	3,331,863	W	3,331,863
Financial liabilities
Financial liabilities at amortized cost
Debentures	W	4,169,434	W	3,918,534
Other financial liabilities		31,658		31,658
	W	4,201,092	W	3,950,192

(In millions of Korean won)	December 31, 2022
	Carrying amount		Fair value
Financial assets
Financial assets at fair value through profit or loss
Hybrid securities	W	874,171	W	874,171
Beneficiary certificates		304,618		304,618
Loans		343,525		343,525
Financial assets at amortized cost
Due from financial institutions		351,056		351,056
Loans		522,326		522,326
Other financial assets		44,841		44,841
	W	2,440,537	W	2,440,537
Financial liabilities
Financial liabilities at amortized cost
Debentures	W	4,956,949	W	4,576,973
Other financial liabilities		13,331		13,331
	W	4,970,280	W	4,590,304

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The Company discloses the fair value of each class of assets and liabilities in a way that permits it to be compared with its carrying amount at the end of each reporting period. The best evidence of fair value of financial instruments is quoted price in an active market.

17

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2023 and 2022 (Unaudited), and December 31, 2022

5.1.1 Carrying amount and fair value of financial assets and liabilities by category as of June 30, 2023 and December 31, 2022, are as follows: (cont’d)

Methods of determining fair value of financial instruments are as follows:

Cash and due from financial institutions	Fair value of cash is same as carrying amount. Carrying amount of demand deposit and settlement deposit is a reasonable approximation of fair value because these financial instruments do not have a fixed maturity and are receivable on demand. Fair value of general deposit is measured using Discounted Cash Flow (“DCF”) Model.
Securities	Fair value of financial instruments that are quoted in an active market is determined using the quoted prices. If there is no quoted price, fair value is determined using external professional valuation institutions. The institutions use one or more valuation techniques that are deemed appropriate considering the characteristics of the financial instruments among DCF Model, Imputed Market Value Model, Free Cash Flow to Equity Model, Dividend Discount Model, Risk Adjusted Discount Rate Method, and Net Asset Value Method.
Derivatives	Fair value of exchange traded derivatives is determined using quoted price in an active market, and fair value of OTC derivatives is determined using valuation techniques. The Company uses internally developed valuation models that are widely used by market participants to determine fair value of plain vanilla OTC derivatives including options, interest rate swaps, and currency swaps, based on observable market parameters. However, some complex financial instruments are valued using appropriate models developed from generally accepted market valuation models including the Finite Difference Method (“FDM”), and the MonteCarlo Simulation or valuation results from independent external professional valuation institution.
Loans measured at amortized cost	Fair value of loans is determined using DCF model discounting the expected cash flows, which are contractual cash flows adjusted by the expected prepayment rate, at an appropriate discount rate.
Borrowings	DCF model is used to determine the fair value of borrowings, but in the case of short-term maturity, carrying amount is a reasonable approximation of fair value.
Debentures	Fair value is determined by using valuation results of external professional valuation institutions, which are calculated using market inputs.
Other financial assets and other financial liabilities	Carrying amount is a reasonable approximation of fair value because other financial assets and other financial liabilities are temporary accounts used for other various transactions and their maturities are relatively short or not defined.

18

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2023 and 2022 (Unaudited), and December 31, 2022

5.1.2 Fair value hierarchy

The Company believes that valuation techniques used for measuring the fair value of financial instruments are reasonable and that the fair value recognized in the statements of financial position is appropriate. However, the fair value of the financial instruments recognized in the statements of financial position may be different if other valuation techniques or assumptions are used. Additionally, as there are a variety of valuation techniques and assumptions used in measuring fair value, it may be difficult to reasonably compare the fair value with that of other financial institutions.

The Company classifies and discloses fair value of the financial instruments into the three fair value levels as follows:

Level 1:	The fair values are based on quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date.
Level 2:	The fair values are based on inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.
Level 3:	The fair values are based on unobservable inputs for the asset or liability.

The fair value measurement is categorized in its entirety in the same level of the fair value hierarchy as the lowest level input that is significant to the entire measurement. If an observable input requires an adjustment using an unobservable input and that adjustment results in a significantly higher or lower fair value measurement, the resulting measurement would be categorized within Level 3 of the fair value hierarchy.

5.1.2.1 Fair value hierarchy of financial assets and liabilities at fair value in the statements of financial position

Fair value hierarchy of financial assets at fair value in the statements of financial position as of June 30, 2023 and December 31, 2022, are as follows:

(In millions of Korean won)	June 30, 2023
	Fair value hierarchy						Total
	Level 1		Level 2		Level 3
Financial assets
Financial assets at fair value through profit or loss:
Hybrid securities	W	—	W	—	W	992,124	W	992,124
Beneficiary certificates		—		511,056		—		511,056
Loans		—		45,751		—		45,751
	W	—	W	556,807	W	992,124	W	1,548,931
(In millions of Korean won)	December 31, 2022
	Fair value hierarchy						Total
	Level 1		Level 2		Level 3
Financial assets
Financial assets at fair value through profit or loss:
Hybrid securities	W	—	W	—	W	874,171	W	874,171
Beneficiary certificates				304,618		—		304,618
Loans		—		343,525		—		343,525
	W	—	W	648,143	W	874,171	W	1,522,314

19

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2023 and 2022 (Unaudited), and December 31, 2022

5.1.2.1 Fair value hierarchy of financial assets and liabilities at fair value in the statements of financial position (cont’d)

Valuation techniques and inputs of financial assets and liabilities classified as Level 2 and measured at fair value in the statements of financial position as of June 30, 2023 and December 31, 2022, are as follows:

(In millions of Korean won)	June 30, 2023
	Fair value		Valuation techniques		Inputs
Financial assets
Financial assets at fair value through profit or loss:
Beneficiary certificates	W	511,056		DCF model		Interest rate, Discount rate, etc.
Loans		45,751		DCF model		Interest rate, Discount rate, etc.
	W	556,807

(In millions of Korean won)	December 31, 2022
	Fair value		Valuation techniques		Inputs
Financial assets
Financial assets at fair value through profit or loss:
Beneficiary certificates	W	304,618		DCF model		Interest rate, Discount rate, etc.
Loans		343,525		DCF model		Interest rate, Discount rate, etc.
	W	648,143

5.1.2.2 Fair value hierarchy of financial assets and liabilities whose fair value is disclosed

Fair value hierarchy of financial assets and liabilities whose fair value is disclosed as of June 30, 2023 and December 31, 2022, are as follows:

(In millions of Korean won)	June 30, 2023
	Fair value hierarchy
	Level 1		Level 2		Level 3		Total
Financial assets
Cash and due from financial institutions 1	W	—	W	1,202,390	W	—	W	1,202,390
Loans measured at amortized cost 2		—		—		522,326		522,326
Other financial assets 3		—		—		58,216		58,216
	W	—	W	1,202,390	W	580,542	W	1,782,932
Financial liabilities
Debentures	W	—	W	3,918,534	W	—	W	3,918,534
Other financial liabilities 3		—		—		31,658		31,658
	W	—	W	3,918,534	W	31,658	W	3,950,192

20

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2023 and 2022 (Unaudited), and December 31, 2022

5.1.2.2 Fair value hierarchy of financial assets and liabilities whose fair value is disclosed (cont’d)

(In millions of Korean won)	December 31, 2022
	Fair value hierarchy
	Level 1		Level 2		Level 3		Total
Financial assets
Cash and due from financial institutions 1	W	—	W	351,056	W	—	W	351,056
Loans measured at amortized cost 2		—		—		522,326		522,326
Other financial assets 3		—		—		44,841		44,841
	W	—	W	351,056	W	567,167	W	918,223
Financial liabilities
Debentures	W	—	W	4,576,973	W	—	W	4,576,973
Other financial liabilities 3		—		—		13,331		13,331
	W	—	W	4,576,973	W	13,331	W	4,590,304

¹  For cash and due from financial institutions classified as level 2, carrying amount is a reasonable approximation of fair value.

²  Because loans measured at amortized cost classified as level 3 are loans with residual maturity of less than one year, carrying amounts are reasonable approximations of fair values.

³  For other financial assets and other financial liabilities classified as level 3, carrying amounts are reasonable approximations of fair values.

Financial assets and liabilities whose carrying amount is a reasonable approximation of fair value, valuation techniques and inputs are not disclosed.

Valuation techniques and inputs of financial assets and liabilities classified as Level 2, and whose fair value is disclosed as of June 30, 2023 and December 31, 2022, are as follows:

(In millions of Korean won)	Fair value				Valuation techniques		Inputs
	June 30, 2023		December 31, 2022
Financial liabilities
Debentures	W	3,918,534	W	4,576,973		DCF model		Discount rate

5.2 Disclosure of Fair Value Hierarchy Level 3

5.2.1 Valuation policy and process of Level 3 fair value

The Company uses external, independent and qualified valuation service to determine the fair value of financial instruments at the end of every reporting period.

21

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2023 and 2022 (Unaudited), and December 31, 2022

5.2.2 Changes in fair value (Level 3) measured using valuation technique based on unobservable inputs in the market

5.2.2.1 Changes in financial instruments classified as Level 3 of the fair value hierarchy for the six-month periods ended June 30, 2023 and 2022, are as follows:

(In millions of Korean won)	2023		2022
	Financial assets at fair value through profit or loss		Financial assets at fair value through profit or loss
Beginning	W	874,171	W	389,606
Total gains or losses:
- Profit or loss		17,953		(25,523	)
- Other comprehensive income		—		—
Purchases		100,000		300,000
Sales		—		—
Issues		—		—
Settlements		—		—
Transfers into Level 3		—		—
Transfers out of Level 3		—		—
Ending	W	992,124	W	664,083

5.2.2.2 In relation to changes in financial instruments classified as Level 3 of the fair value hierarchy, total gains or losses recognized in profit or loss for the period, and total gains or losses recognized in profit or loss from financial instruments held at the end of the reporting period for the six-month periods ended June 30, 2023 and 2022, are as follows:

(In millions of Korean won)	2023						2022
	Gains on financial instruments at fair value through profit or loss		Other operating income		Net interest income		Losses on financial instruments at fair value through profit or loss			Other operating income		Net interest income
Total gains (losses) included in profit or loss for the period	W	17,953	W	—	W	—	W	(25,523	)	W	—	W	—
Total gains (losses) for the period included in profit or loss for financial instruments held at the end of the reporting period		17,953		—		—		(25,523	)		—		—

22

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2023 and 2022 (Unaudited), and December 31, 2022

5.2.3 Sensitivity analysis of changes in unobservable inputs

5.2.3.1 Information about fair value measurements using unobservable inputs as of June 30, 2023 and December 31, 2022, are as follows:

(In millions of Korean won)	June 30, 2023
	Fair value	Valuation techniques	Inputs	Unobservable inputs	Range of unobservable inputs (%)		Relationship of unobservable inputs to fair value
Financial assets
Financial assets at fair value through profit or loss:
Hybrid securities	W992,124	Hull and White Model, MonteCarlo Simulation	Matrix YTM, Additional spread by grade, Risk spread of company, Valid credit rating, Disclosed information of securities, Estimated volatility of Interest rate	Discount rate		4.95 ~ 6.87	The lower the discount rate, the higher the fair value
				Volatility of interest rate		0.62	The higher the volatility, the higher the fair value fluctuation
(In millions of Korean won)	December 31, 2022
	Fair value	Valuation techniques	Inputs	Unobservable inputs	Range of unobservable inputs (%)		Relationship of unobservable inputs to fair value
Financial assets
Financial assets at fair value through profit or loss:
Hybrid securities	W874,171	Hull and White Model, MonteCarlo Simulation	Matrix YTM, Additional spread by grade, Risk spread of company, Valid credit rating, Disclosed information of securities, Estimated volatility of Interest rate	Discount rate		5.54 ~ 7.05	The lower the discount rate, the higher the fair value
				Volatility of interest rate		0.64	The higher the volatility, the higher the fair value fluctuation

23

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2023 and 2022 (Unaudited), and December 31, 2022

5.2.3.2 Sensitivity analysis of changes in unobservable inputs

Sensitivity analysis of financial instruments is performed to measure favorable and unfavorable changes in fair value of financial instruments which are affected by unobservable parameters, using a statistical technique. When the fair value is affected by more than one input parameter, the amounts represent the most favorable or most unfavorable outcome. There are hybrid securities whose fair value changes are recognized in profit or loss.

Results of the sensitivity analysis of changes in unobservable inputs as of June 30, 2023 and December 31, 2022, are as follows:

(In millions of Korean won)	June 30, 2023
	Profit or loss					Other comprehensive income or loss
	Favorable changes		Unfavorable changes			Favorable changes		Unfavorable changes
Financial assets
Financial assets at fair value through profit or loss:
Hybrid securities *	W	8,504	W	(8,309	)	W	—	W	—

* The changes in fair value are calculated by increasing or decreasing discount rates (4.95% ~ 6.87%) by 1%p, which are principal unobservable input parameters.

(In millions of Korean won)	December 31, 2022
	Profit or loss					Other comprehensive income or loss
	Favorable changes		Unfavorable changes			Favorable changes		Unfavorable changes
Financial assets
Financial assets at fair value through profit or loss:
Hybrid securities *	W	10,460	W	(10,199	)	W	—	W	—

* The changes in fair value are calculated by increasing or decreasing discount rates (5.54% ~ 7.05%) by 1%p, which are principal unobservable input parameters.

24

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2023 and 2022 (Unaudited), and December 31, 2022

6. Due from Financial Institutions

6.1 Details of due from financial institutions as of June 30, 2023 and December 31, 2022, are as follows:

(In millions of Korean won)		Financial Institution	Interest rate (%) as of June 30, 2023	June 30, 2023		December 31, 2022
Due from financial institutions in Korean won	Due from banks	Kookmin Bank	0.00 ~ 3.00	W	1,112,390	W	231,056
		KB Savings Bank Co., Ltd.	2.65 ~ 2.90		90,000		120,000
				W	1,202,390	W	351,056

6.2 Details of restricted due from financial institution as of June 30, 2023 and December 31, 2022, are as follows:

(In millions of Korean won)	Financial Institution	June 30, 2023		December 31, 2022		Reasons of restriction
Due from financial institutions in Korean won	Kookmin Bank	W	3	W	3	Pledged as collateral for the overdraft account

7. Financial Assets at Fair Value through Profit or Loss

Details of financial assets at fair value through profit or loss as of June 30, 2023 and December 31, 2022, are as follows:

(In millions of Korean won)	June 30, 2023		December 31, 2022
Financial assets at fair value through profit or loss:
Hybrid securities	W	992,124	W	874,171
Beneficiary certificates		511,056		304,618
Loans		45,751		343,525
	W	1,548,931	W	1,522,314

8. Loans Measured at Amortized Cost

8.1 Details of loans measured at amortized cost as of June 30, 2023 and December 31, 2022, are as follows:

(In millions of Korean won)	June 30, 2023			December 31, 2022
Loans measured at amortized cost	W	523,500		W	523,500
Less: Allowances for loan losses		(1,174	)		(1,174	)
	W	522,326		W	522,326

25

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2023 and 2022 (Unaudited), and December 31, 2022

9. Investments in Subsidiaries

9.1 Details of subsidiaries as of June 30, 2023, are as follows:

Name of subsidiaries	Industry	Location
Kookmin Bank	Banking and foreign exchange transaction	Korea
KB Securities Co., Ltd.	Financial investment	Korea
KB Insurance Co., Ltd.	Non-life insurance	Korea
KB Kookmin Card Co., Ltd.	Credit card and installment financial business	Korea
KB Life Insurance Co., Ltd.	Life insurance	Korea
KB Asset Management Co., Ltd.	Investment advisory and investment trust	Korea
KB Capital Co., Ltd.	Financial leasing	Korea
KB Real Estate Trust Co., Ltd.	Real estate trust management	Korea
KB Savings Bank Co., Ltd.	Savings banking	Korea
KB Investment Co., Ltd.	Capital investment	Korea
KB Data System Co., Ltd.	System software, development and supply	Korea

9.2 Details of investments in subsidiaries as of June 30, 2023 and December 31, 2022, are as follows:

(In millions of Korean won, except for shares)	As of June 30, 2023				Carrying amount
Name of subsidiaries	Number of issued shares		Ownership (%)		June 30, 2023		December 31, 2022
Kookmin Bank		404,379,116		100.00	W	14,821,721	W	14,821,721
KB Securities Co., Ltd.		298,620,424		100.00		3,342,391		3,342,391
KB Insurance Co., Ltd.		66,500,000		100.00		2,375,430		2,375,430
KB Kookmin Card Co., Ltd.		92,000,000		100.00		1,953,175		1,953,175
KB Life Insurance Co., Ltd. (former Prudential Life Insurance Company of Korea Ltd.) *		16,201,518		100.00		2,795,367		2,310,054
KB Asset Management Co., Ltd.		7,667,550		100.00		96,312		96,312
KB Capital Co., Ltd.		32,175,147		100.00		873,811		873,811
KB Life Insurance Co., Ltd. *1		—		—		—		485,314
KB Real Estate Trust Co., Ltd.		16,000,000		100.00		121,553		121,553
KB Savings Bank Co., Ltd.		8,001,912		100.00		176,813		176,813
KB Investment Co., Ltd.		22,525,328		100.00		154,910		154,910
KB Data System Co., Ltd.		800,000		100.00		6,334		6,334
KB Credit Information Co., Ltd. *2		—		—		—		23,620
					W	26,717,817	W	26,741,438

^*1 KB Life Insurance Co., Ltd. (former Prudential Life Insurance Company of Korea Ltd.) merged with another existing KB Life Insurance Co., Ltd. on January 2, 2023, and issued 1,201,518 shares as the consideration.

^*2 On June 30, 2023, the Company sold its 100% shares of KB Credit Information Co., Ltd. to KB Kookmin Card Co., Ltd. As of the date of disposal, the carrying amount of investments in KB Credit Information Co., Ltd. recorded by the Company was W23,620 million. The difference between the carrying amount and the consideration transferred (amounted W27,635 million), excluding disposal related costs, was recognized as gains on the disposal of investments in subsidiaries (amounted W3,917 million)

26

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2023 and 2022 (Unaudited), and December 31, 2022

10. Deferred Income Tax Assets and Liabilities

10.1 Details of deferred income tax assets and liabilities as of June 30, 2023 and December 31, 2022, are as follows:

(In millions of Korean won)	June 30, 2023
	Assets			Liabilities			Net amount
Share-based payments	W	3,756		W	—		W	3,756
Membership rights		209			—			209
Defined benefit obligation		1,854			—			1,854
Plan assets		—			(2,228	)		(2,228	)
Short-term employee benefits		773			—			773
Losses on valuation of financial assets at fair value through profit or loss		7,080			—			7,080
Others		2,569			(2,439	)		130
		16,241			(4,667	)		11,574
Offsetting of deferred tax assets and liabilities		(4,667	)		4,667			—
	W	11,574		W	—		W	11,574

(In millions of Korean won)	December 31, 2022
	Assets			Liabilities			Net amount
Share-based payments	W	4,502		W	—		W	4,502
Membership rights		210			—			210
Defined benefit obligation		3,226			—			3,226
Plan assets		—			(3,393	)		(3,393	)
Short-term employee benefits		650			—			650
Losses on valuation of financial assets at fair value through profit or loss		14,795			—			14,795
Others		3,233			(3,319	)		(86	)
		26,616			(6,712	)		19,904
Offsetting of deferred tax assets and liabilities		(6,712	)		6,712			—
	W	19,904		W	—		W	19,904

27

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2023 and 2022 (Unaudited), and December 31, 2022

11. Debentures

11.1 Details of debentures as of June 30, 2023 and December 31, 2022, are as follows:

(In millions of Korean won)	Issuance date		Maturity date		Interest rate (%) as of June 30, 2023		June 30, 2023		December 31, 2022
Unguaranteed debentures No.15-3		May 12, 2016		May 12, 2026		2.01	W	200,000	W	200,000
Unguaranteed debentures No.16-3		May 27, 2016		May 27, 2023		—		—		150,000
Unguaranteed debentures No.18-3		Jul. 25, 2016		Jul. 25, 2026		1.69		80,000		80,000
Unguaranteed debentures No.19-3		Aug. 25, 2016		Aug. 25, 2026		1.69		120,000		120,000
Unguaranteed debentures No.25-4		May 24, 2017		May 24, 2027		2.62		80,000		80,000
Unguaranteed debentures No.26-2		Jun. 27, 2017		Jun. 27, 2024		2.34		200,000		200,000
Unguaranteed debentures No.27		Jul. 19, 2017		Jul. 19, 2024		2.41		100,000		100,000
Unguaranteed debentures No.28-2		Aug. 30, 2017		Aug. 30, 2024		2.43		30,000		30,000
Unguaranteed debentures No.28-3		Aug. 30, 2017		Aug. 30, 2027		2.60		60,000		60,000
Unguaranteed debentures No.29-2		Sep. 19, 2017		Sep. 19, 2024		2.44		110,000		110,000
Unguaranteed debentures No.31-2		Feb. 28, 2018		Feb. 28, 2023		—		—		50,000
Unguaranteed debentures No.31-3		Feb. 28, 2018		Feb. 28, 2028		3.02		60,000		60,000
Unguaranteed debentures No.32-2		Apr. 6, 2018		Apr. 6, 2023		—		—		80,000
Unguaranteed debentures No.32-3		Apr. 6, 2018		Apr. 6, 2028		2.86		20,000		20,000
Unguaranteed debentures No.33-1		Jun. 12, 2018		Jun. 12, 2023		—		—		100,000
Unguaranteed debentures No.33-2		Jun. 12, 2018		Jun. 12, 2028		2.92		30,000		30,000
Unguaranteed debentures No.34-2		Jul. 25, 2018		Jul. 25, 2023		2.65		70,000		70,000
Unguaranteed debentures No.34-3		Jul. 25, 2018		Jul. 25, 2025		2.71		20,000		20,000
Unguaranteed debentures No.34-4		Jul. 25, 2018		Jul. 25, 2028		2.76		20,000		20,000
Unguaranteed debentures No.35		Oct. 5, 2018		Oct. 5, 2023		2.52		120,000		120,000
Unguaranteed debentures No.36-2		Feb. 22, 2019		Feb. 22, 2024		2.11		230,000		230,000
Unguaranteed debentures No.36-3		Feb. 22, 2019		Feb. 22, 2029		2.22		60,000		60,000
Unguaranteed debentures No.37-1		Mar. 15, 2019		Mar. 15, 2024		2.06		140,000		140,000
Unguaranteed debentures No.37-2		Mar. 15, 2019		Mar. 15, 2029		2.16		70,000		70,000
Unguaranteed debentures No.38-1		Jun. 19, 2019		Jun. 19, 2026		1.73		80,000		80,000
Unguaranteed debentures No.38-2		Jun. 19, 2019		Jun. 19, 2029		1.77		120,000		120,000
Unguaranteed debentures No.39-1		Oct. 15, 2019		Oct. 15, 2024		1.60		80,000		80,000
Unguaranteed debentures No.39-2		Oct. 15, 2019		Oct. 15, 2029		1.67		40,000		40,000
Unguaranteed debentures No.40-1		Dec. 4, 2019		Dec. 4, 2024		1.76		70,000		70,000
Unguaranteed debentures No.40-2		Dec. 4, 2019		Dec. 4, 2029		1.87		30,000		30,000
Unguaranteed debentures No.41-1		Jan. 16, 2020		Jan. 16, 2023		—		—		110,000
Unguaranteed debentures No.41-2		Jan. 16, 2020		Jan. 16, 2025		1.74		100,000		100,000
Unguaranteed debentures No.41-3		Jan. 16, 2020		Jan. 16, 2030		1.88		40,000		40,000
Subordinated debentures No.1-1		Feb. 18, 2020		Feb. 18, 2030		2.21		370,000		370,000
Subordinated debentures No.1-2		Feb. 18, 2020		Feb. 18, 2035		2.26		30,000		30,000
Unguaranteed debentures No.42-1		May 13, 2020		May 13, 2025		1.59		130,000		130,000
Unguaranteed debentures No.42-2		May 13, 2020		May 13, 2030		1.78		70,000		70,000
Unguaranteed debentures No.43-1		Jun. 16, 2020		Jun. 16, 2023		—		—		50,000
Unguaranteed debentures No.43-2		Jun. 16, 2020		Jun. 16, 2025		1.44		110,000		110,000
Unguaranteed debentures No.43-3		Jun. 16, 2020		Jun. 16, 2030		1.63		50,000		50,000
Exchangeable bonds No.1 *		Jun. 30, 2020		Jun. 30, 2025		—		240,000		240,000
Unguaranteed debentures No.44-2		Aug. 11, 2020		Aug. 11, 2023		1.07		50,000		50,000
Unguaranteed debentures No.44-3		Aug. 11, 2020		Aug. 9, 2024		1.18		30,000		30,000

28

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2023 and 2022 (Unaudited), and December 31, 2022

11.1 Details of debentures as of June 30, 2023 and December 31, 2022, are as follows: (cont’d)

(In millions of Korean won)	Issuance date		Maturity date		Interest rate (%) as of June 30, 2023		June 30, 2023			December 31, 2022
Unguaranteed debentures No.44-4		Aug. 11, 2020		Aug. 11, 2027		1.39	W	20,000		W	20,000
Unguaranteed debentures No.45		Nov. 23, 2020		Nov. 23, 2023		1.19		60,000			60,000
Unguaranteed debentures No.46-1		Jan. 14, 2021		Jan. 13, 2023		—		—			160,000
Unguaranteed debentures No.46-2		Jan. 14, 2021		Jan. 14, 2026		1.43		30,000			30,000
Unguaranteed debentures No.46-3		Jan. 14, 2021		Jan. 14, 2028		1.62		10,000			10,000
Unguaranteed debentures No.46-4		Jan. 14, 2021		Jan. 14, 2031		1.84		100,000			100,000
Unguaranteed debentures No.47		Feb. 24, 2021		Feb. 24, 2023		—		—			90,000
Unguaranteed debentures No.48-1		Jun. 16, 2022		Jun. 17, 2024		4.15		85,000			85,000
Unguaranteed debentures No.48-2		Jun. 16, 2022		Jun. 16, 2025		4.27		240,000			240,000
Unguaranteed debentures No.48-3		Jun. 16, 2022		Jun. 16, 2027		4.34		80,000			80,000
Unguaranteed debentures No.48-4		Jun. 16, 2022		Jun. 16, 2032		4.40		95,000			95,000
								4,180,000			4,970,000
				Less: Bond Discounts				(3,783	)		(4,616	)
				Less: adjustment on exchange right				(6,783	)		(8,435	)
							W	4,169,434		W	4,956,949

* Fair value of the liability component of exchangeable bonds is calculated by using market interest rate of bonds under the same conditions without the exchange right. The residual amount, after deducting liability component from the issuance amount, represents the value of exchange right and is recorded in equity. Shares to be exchanged are 5 million treasury shares of KB Financial Group Inc. with the exchange price of W48,000. Exercise period for exchange right is from the 60th day of the issuance date to 10 business days before the maturity date.

11.2 Maturities of debentures as of June 30, 2023 and December 31 2022, are as follows:

(In millions of Korean won)

June 30, 2023

Up to   3 months

3~6   months

6~12   months

1~3   years

Over   3 years

Total

Debentures in Korean won

W

120,000

W

180,000

W

655,000

W

1,570,000

W

1,655,000

W

4,180,000

(In millions of Korean won)

December 31, 2022

Up to   3 months

3~6   months

6~12   months

1~3   years

Over   3 years

Total

Debentures in Korean won

W

410,000

W

380,000

W

300,000

W

1,915,000

W

1,965,000

W

4,970,000

29

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2023 and 2022 (Unaudited), and December 31, 2022

11.3 Changes in debentures based on par value for the six-month periods ended June 30, 2023 and 2022, are as follows:

(In millions of Korean won)	2023
	Beginning		Issue		Repayment			Ending
Debentures in Korean won	W	4,970,000	W	—	W	(790,000	)	W	4,180,000

(In millions of Korean won)	2022
	Beginning		Issue		Repayment			Ending
Debentures in Korean won	W	5,570,000	W	500,000	W	(730,000	)	W	5,340,000

12. Net Defined Benefit Liabilities(Assets)

12.1 Defined Benefit Plan

The Company operates defined benefit plans which have the following characteristics:

• The Company has the obligation to pay the agreed benefits to all its current and former employees.

• The Company assumes actuarial risk (that benefits will cost more than expected) and investment risk.

The net defined benefit liabilities recognized in the statements of financial position are calculated in accordance with actuarial valuation method using assumptions based on market data and historical data such as discount rate, future salary increase rate, and mortality. Actuarial assumptions may differ from actual results, due to changes in the market conditions, economic trends, and mortality trends.

12.2 Details of the net defined benefit liabilities as of June 30, 2023 and December 31, 2022, are as follows:

(In millions of Korean won)	June 30, 2023			December 31, 2022
Present value of defined benefit obligation	W	17,781		W	17,973
Fair value of plan assets		(21,313	)		(22,261	)
Net defined benefit liabilities (assets)	W	(3,532	)	W	(4,288	)

12.3 Details of post-employment benefits recognized in profit or loss for the six-month periods ended June 30, 2023 and 2022, are as follows:

(In millions of Korean won)	2023			2022
Current service cost	W	908		W	1,152
Net interest expense(income) on net defined benefit liabilities		(111	)		(3	)
Post-employment benefits	W	797		W	1,149

(*) The gains or losses related to the defined benefit pension plan is fully included in general administrative expenses.

30

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2023 and 2022 (Unaudited), and December 31, 2022

13. Equity

13.1 Share Capital

13.1.1 Details of share capital as of June 30, 2023 and December 31, 2022, are as follows:

(In millions of Korean won)	June 30, 2023		December 31, 2022
Type of share		Ordinary share		Ordinary share
Number of authorized shares		1,000,000,000		1,000,000,000
Par value per share (In Korean won)	W	5,000	W	5,000
Number of issued shares		403,511,072		408,897,068
Share capital *	W	2,090,558	W	2,090,558

* Due to the retirement of shares deducted through retained earnings, it is different from the total par value of the shares issued.

13.1.2 Changes in shares for the six-month periods ended June 30, 2023 and 2022, are as follows:

(In number of shares)	2023			2022
Beginning		389,634,335			389,634,335
Increase		—			—
Decrease		(5,385,996	)		—
Ending		384,248,339			389,634,335

31

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2023 and 2022 (Unaudited), and December 31, 2022

13.2 Hybrid Securities

Details of hybrid securities classified as equity as of June 30, 2023 and December 31, 2022, are as follows:

(In millions of Korean won)

Hybrid securities	Issuance date	Maturity	Interest rate (%) as of June 30, 2023		June 30, 2023		December 31, 2022
The 1-1st	May 2, 2019	Perpetual bond		3.23	W	349,204	W	349,204
The 1-2nd	May 2, 2019	Perpetual bond		3.44		49,881		49,881
The 2-1st	May 8, 2020	Perpetual bond		3.30		324,099		324,099
The 2-2nd	May 8, 2020	Perpetual bond		3.43		74,812		74,812
The 3-1st	Jul. 14, 2020	Perpetual bond		3.17		369,099		369,099
The 3-2nd	Jul. 14, 2020	Perpetual bond		3.38		29,922		29,922
The 4-1st	Oct. 20, 2020	Perpetual bond		3.00		433,918		433,918
The 4-2nd	Oct. 20, 2020	Perpetual bond		3.28		64,843		64,843
The 5-1st	Feb. 19, 2021	Perpetual bond		2.67		419,056		419,056
The 5-2nd	Feb. 19, 2021	Perpetual bond		2.87		59,862		59,862
The 5-3rd	Feb. 19, 2021	Perpetual bond		3.28		119,727		119,727
The 6-1st	May 28, 2021	Perpetual bond		3.20		165,563		165,563
The 6-2nd	May 28, 2021	Perpetual bond		3.60		109,708		109,708
The 7-1st	Oct. 8, 2021	Perpetual bond		3.57		208,453		208,453
The 7-2nd	Oct. 8, 2021	Perpetual bond		3.80		59,834		59,834
The 8-1st	Feb. 16, 2022	Perpetual bond		4.00		442,955		442,955
The 8-2nd	Feb. 16, 2022	Perpetual bond		4.30		155,626		155,626
The 9-1st	May 12, 2022	Perpetual bond		4.68		478,814		478,814
The 9-2nd	May 12, 2022	Perpetual bond		4.97		19,906		19,906
The 10-1st	Aug. 26, 2022	Perpetual bond		4.90		407,936		407,936
The 10-2nd	Aug. 26, 2022	Perpetual bond		5.15		70,819		70,819
The 10-3rd	Aug. 26, 2022	Perpetual bond		5.30		19,944		19,944
The 11-1st	Feb 3, 2023	Perpetual bond		4.90		548,666		—
The 11-2nd	Feb 3, 2023	Perpetual bond		5.03		49,871		—
					W	5,032,518	W	4,433,981

The above hybrid securities are early redeemable by the Company after 5 or 7or 10 years from the issuance date.

13.3 Capital Surplus

Details of capital surplus as of June 30, 2023 and December 31,2022, are as follows:

(In millions of Korean won)	June 30, 2023		December 31, 2022
Paid-in capital in excess of par value	W	13,190,275	W	13,190,275
Other capital surplus		1,465,893		1,465,893
Gains on sales of treasury shares		86,646		86,646
Consideration for exchange right of exchangeable bonds		11,933		11,933
	W	14,754,747	W	14,754,747

32

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2023 and 2022 (Unaudited), and December 31, 2022

13.4 Accumulated Other Comprehensive Income (Loss)

Details of accumulated other comprehensive income (loss) as of June 30, 2023 and December 31,2022, are as follows:

(In millions of Korean won)	June 30, 2023			December 31, 2022
Remeasurements of net defined benefit liabilities	W	(5,822	)	W	(5,847	)

13.5 Retained Earnings

13.5.1 Details of retained earnings as of June 30, 2023 and December 31,2022, are as follows:

(In millions of Korean won)	June 30, 2023		December 31, 2022
Legal reserves	W	1,007,685	W	839,235
Voluntary reserves		982,000		982,000
Regulatory reserve for credit losses		9,340		4,490
Unappropriated retained earnings		2,860,212		1,968,840
	W	4,859,237	W	3,794,565

With respect to the allocation of net profit earned in a fiscal term, the Company must set aside in its legal reserve an amount equal to at least 10% of its profit after tax as reported in the financial statements, each time it pays dividends on its net profits earned until its legal reserve reaches the aggregate amount of its paid-in capital in accordance with Article 53 of the Financial Holding Company Act. The reserve is not available for the payment of cash dividends, but may be transferred to share capital, or used to reduce accumulated deficit.

13.5.2 Regulatory reserve for credit losses

Measurement and disclosure of regulatory reserve for credit losses are required in accordance with Articles 26 through 28 of the Regulations on Supervision of Financial Holding Companies.

13.5.2.1 Details of regulatory reserve for credit losses as of June 30, 2023 and December 31, 2022, are as follows:

(In millions of Korean won)	June 30, 2023			December 31, 2022
Amounts before appropriation	W	9,340		W	4,490
Amounts estimated to be appropriated (reversed)		(4,514	)		4,850
	W	4,826		W	9,340

33

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2023 and 2022 (Unaudited), and December 31, 2022

13.5.2.2 Regulatory reserve for credit losses estimated to be appropriated (reversed) and adjusted profit after provision (reversal) of regulatory reserve for credit losses for the three-month and six-month periods ended June 30, 2023 and 2022, are as follows:

(In millions of Korean won, except for per share amounts)	2023						2022
	Three months			Six months			Three months			Six months
Regulatory reserve for credit losses estimated to be appropriated (reversed)	W	(3,676	)	W	(4,514	)	W	(720	)	W	1,198
Adjusted profit (loss) after provision (reversal) of regulatory reserve for credit losses 1,2		(70,843	)		2,072,218			(82,052	)		1,517,302
Adjusted basic earnings (loss) per share after provision (reversal) of regulatory reserve for credit losses 1		(184	)		5,366			(211	)		3,894
Adjusted diluted earnings (loss) per share after provision (reversal) of regulatory reserve for credit losses 1		(179	)		5,246			(205	)		3,808

¹ Adjusted profit (loss) after provision (reversal) of regulatory reserve for credit losses is not based on Korean IFRS. It is calculated by reflecting provision (reversal) of regulatory reserve for credit losses before tax to the net profit for the period.

² After deducting dividends on hybrid securities

13.6 Treasury Shares

Changes in treasury shares for the six-month periods ended June 30, 2023 and 2022, are as follows:

(In millions of Korean won and in number of shares)

	2023
	Beginning		Acquisition		Retirement			Ending
Number of treasury shares *		19,262,733		5,385,996		(5,385,996	)		19,262,733
Carrying amount	W	836,188	W	271,745	W	(242,096	)	W	865,837

(In millions of Korean won and in number of shares)

	2022
	Beginning		Acquisition		Retirement			Ending
Number of treasury shares *		26,173,585		—		(3,455,426	)		22,718,159
Carrying amount	W	1,136,188	W	—	W	(150,000	)	W	986,188

* 5 million treasury shares are deposited at the Korea Securities Depository for the exchange of exchangeable bonds.

14. Dividends

The annual dividends to the shareholders of the Company for the year ended December 31, 2022, amounting to W564,970 million (W1,450 per share) were declared at the annual general shareholders’ meeting on March 24, 2023 and paid in April 10, 2023. According to the resolution of the Board of Directors on April 27, 2023, the interim dividends per share of W510 (total dividends: W195,967 million) with dividend record date of March 31, 2023 were paid on May 11, 2023. Meanwhile, the annual dividends and interim dividends paid in 2022 were W853,299 million (W2,190 per share) and W584,452 million (W500 per share), respectively.

34

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2023 and 2022 (Unaudited), and December 31, 2022

15. Net Interest Expense

Details of interest income, interest expense, and net interest expense for the three-month and six-month periods ended June 30, 2023 and 2022, are as follows:

(In millions of Korean won)	2023						2022
	Three months			Six months			Three months			Six months
Interest income
Due from financial institutions	W	7,446		W	9,682		W	2,182		W	3,160
Loans measured at amortized cost		3,210			6,390			1,426			2,809
Loans measured at fair value through profit or loss		679			1,798			659			1,320
Others		144			279			102			196
		11,479			18,149			4,369			7,485
Interest expense
Debentures		24,852			51,570			26,730			54,584
Others		7			13			4			8
		24,859			51,583			26,734			54,592
Net interest expense	W	(13,380	)	W	(33,434	)	W	(22,365	)	W	(47,107	)

16. Net Fee and Commission Expense

Details of fee and commission income, fee and commission expense, and net fee and commission expense for the three-month and six-month periods ended June 30, 2023 and 2022, are as follows:

(In millions of Korean won)	2023						2022
	Three months			Six months			Three months			Six months
Fee and commission income
Fees earned in Korean won	W	409		W	781		W	356		W	1,159
Fee and commission expense
Fees paid in Korean won		3,498			4,957			3,724			5,154
Fees paid in foreign currency		—			160			—			140
		3,498			5,117			3,724			5,294
Net fee and commission expense	W	(3,089	)	W	(4,336	)	W	(3,368	)	W	(4,135	)

35

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2023 and 2022 (Unaudited), and December 31, 2022

17. Net Gains or Losses on Financial Instruments at Fair value through Profit or Loss

Net gains or losses on financial instruments at fair value through profit or loss include dividend income, gains or losses arising from changes in fair value, and gains or losses arising from sales and redemptions. Details of net gains or losses on financial assets at fair value through profit or loss for the three-month and six-month periods ended June, 30, 2023 and 2022, are as follows:

(In millions of Korean won)	2023					2022
	Three months			Six months		Three months			Six months
Gains on financial instruments at fair value through profit or loss
Dividend income from financial assets at fair value through profit or loss	W	12,931		W	25,178	W	8,914		W	14,894
Gains on valuation of financial assets at fair value through profit or loss		(5,409	)		27,094		1,145			2,366
Gains on disposal of financial assets at fair value through profit or loss		—			678		—			—
		7,522			52,950		10,059			17,260
Losses on financial instruments at fair value through profit or loss
Losses on valuation of financial assets at fair value through profit or loss		1,280			1,280		26,494			34,120
		1,280			1,280		26,494			34,120
Net gains (losses) on financial instruments at fair value through profit or loss	W	6,242		W	51,670	W	(16,435	)	W	(16,860	)

18. Net Other Operating Income and Expenses

Details of other operating income and expenses for the three-month and six-month periods ended June 30, 2023 and 2022, are as follows:

(In millions of Korean won)	2023				2022
	Three months		Six months		Three months		Six months
Other operating income
Dividend income from subsidiaries	W	—	W	2,192,380	W	—	W	1,671,223
Others		—		—		—		1
		—		2,192,380		—		1,671,224
Net other operating income	W	—	W	2,192,380	W	—	W	1,671,224

36

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2023 and 2022 (Unaudited), and December 31, 2022

19. General and Administrative Expenses

19.1 Details of general and administrative expenses for the three-month and six-month periods ended June 30, 2023 and 2022, are as follows:

(In millions of Korean won)	2023				2022
	Three months		Six months		Three months			Six months
Expenses related to employee
Employee benefits - salaries	W	9,651	W	19,473	W	10,043		W	19,841
Employee benefits - others		1,336		2,259		1,108			2,154
Post-employment benefits - defined benefit plans		395		797		614			1,149
Post-employment benefits - defined contribution plans		—		1		—			(2	)
Share-based payments		1,788		2,886		(1,476	)		1,689
		13,170		25,416		10,289			24,831
Depreciation and amortization		1,271		2,717		1,475			2,838
Other general and administrative expenses
Travel		537		749		166			196
Communications		244		571		244			554
Tax and dues		98		337		98			314
Publication		131		186		110			175
Rental expense		534		1,055		445			863
Vehicle		42		68		41			66
Service fees		4,173		9,023		3,649			7,071
Advertising		76		515		73			453
Training		447		724		255			333
Others		2,256		4,520		2,080			3,952
		8,538		17,748		7,161			13,977
	W	22,979	W	45,881	W	18,925		W	41,646

37

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2023 and 2022 (Unaudited), and December 31, 2022

19.2 Share-based Payments

Share-based payments plan for executives and employees of the Company and its subsidiaries as of June 30, 2023, are as follows:

19.2.1 Stock grants linked to long-term performance

(In number of shares)	Grant date	Number of granted shares 1		Vesting conditions 2
KB Financial Group Inc.
Series 28	Nov. 21, 2020		68,135	Services fulfillment, market performance 3 35%, and non-market performance 5 65%
Series 30	Apr. 1, 2021		3,070	Services fulfillment, market performance 3 30%, and non-market performance 4 70%
Series 33	Jan. 1, 2022		57,464	Services fulfillment, market performance 3 0~30%, and non-market performance 4 70~100%
Series 34	Feb. 1, 2022		654	Services fulfillment, market performance 3 30%, and non-market performance 4 70%
Series 35	May 27, 2022		6,364	Services fulfillment, market performance 3 30%, and non-market performance 4 70%
Series 36	Jan 1, 2023		83,561	Services fulfillment, market performance 3 0~30%, and non-market performance 4 70~100%
Deferred grant in 2015			3,183	Satisfied
Deferred grant in 2016			943	Satisfied
Deferred grant in 2018			884	Satisfied
Deferred grant in 2020			18,871	Satisfied
Deferred grant in 2021			18,105	Satisfied
Deferred grant in 2022			38,277	Satisfied
			299,511
Kookmin Bank
Series 83	Apr. 1, 2021		14,972	Services fulfillment, market performance 3 0~30%, and non-market performance 4 70~100%
Series 85	Jan. 1, 2022		259,724	Services fulfillment, market performance 3 0~30%, and non-market performance 4 70~100% Services fulfillment, market performance 3 30%, and EPS & Asset Quality 6 70%
Series 86	Feb. 1, 2022		1,525	Services fulfillment, market performance 3 0~30%, and non-market performance 4 70~100%
Series 88	Mar. 14, 2022		5,884	Services fulfillment, market performance 3 0~30%, and non-market performance 4 70~100%
Series 90	Jul. 18, 2022		4,131	Services fulfillment, market performance 3 0~30%, and non-market performance 4 70~100%
Series 91	Aug. 24, 2022		7,277	Services fulfillment, market performance 3 0~30%, and non-market performance 4 70~100%
Series 92	Jan. 1, 2023		216,811	Services fulfillment, market performance 3 0~30%, and non-market performance 4 70~100%
Series 93	Apr. 1, 2023		13,422	Services fulfillment, market performance 3 0~30%, and non-market performance 4 70~100%

38

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2023 and 2022 (Unaudited), and December 31, 2022

19.2.1 Stock grants linked to long-term performance (cont’d)

(In number of shares)	Grant date	Number of granted shares 1		Vesting conditions 2
Deferred grant in 2016			799	Satisfied
Deferred grant in 2017			893	Satisfied
Deferred grant in 2018			1,145	Satisfied
Deferred grant in 2020			26,763	Satisfied
Deferred grant in 2021			104,643	Satisfied
Deferred grant in 2022			87,342	Satisfied
Deferred grant in 2023			1,289	Satisfied
			746,620
Other subsidiaries
Stock granted in 2010			106
Stock granted in 2011			146
Stock granted in 2012			420
Stock granted in 2013			544
Stock granted in 2014			1,028
Stock granted in 2015			2,014
Stock granted in 2016			3,048
Stock granted in 2017			9,548	Services fulfillment,
Stock granted in 2018			19,861	market performance 3 0~50%,
Stock granted in 2019			23,788	and non-market performance 4 50~100%
Stock granted in 2020			94,348
Stock granted in 2021			120,615
Stock granted in 2022			389,083
Stock granted in 2023			374,944
			1,039,493
			2,085,624

¹ Granted shares represent the total number of shares initially granted to executives and employees who have residual shares as of June 30, 2023 (Deferred grants are residual shares vested as of June 30, 2023).

² Executives and employees were given the right of choice about the timing of the deferred payment (after the date of retirement), payment ratio, and payment period. Accordingly, a certain percentage of the granted shares is deferred for up to five years after the date of retirement after the deferred grant has been confirmed.

³ Relative TSR (Total Shareholder Return): [(Fair value at the end of the contract—Fair value at the beginning of the contract) + (Total amount of dividend per share paid during the contract period)] / Fair value at the beginning of the contract

⁴ Performance results of company and employee

⁵ EPS (Earnings Per Share), Asset Quality, HCROI (Human Capital Return on Investment), Profit from non-banking segments

⁶ EPS, Asset Quality

The stock grant linked to long-term performance is an incentive plan that sets, on grant date, the maximum number of shares that can be awarded. Actual shares to be granted is determined in accordance with achievement of pre-set performance targets over the vesting period.

39

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2023 and 2022 (Unaudited), and December 31, 2022

19.2.2 Stock grants linked to short-term performance

(In number of shares)	Estimated number of vested shares *		Vesting conditions
KB Financial Group Inc.
Stock granted in 2015		2,097	Satisfied
Stock granted in 2016		3,034	Satisfied
Stock granted in 2017		306	Satisfied
Stock granted in 2018		380	Satisfied
Stock granted in 2020		12,336	Satisfied
Stock granted in 2021		23,677	Satisfied
Stock granted in 2022		45,115	Satisfied
Stock granted in 2023		26,578	Proportional to service period
Kookmin Bank
Stock granted in 2015		419	Satisfied
Stock granted in 2016		2,135	Satisfied
Stock granted in 2017		535	Satisfied
Stock granted in 2018		739	Satisfied
Stock granted in 2020		44,890	Satisfied
Stock granted in 2021		86,235	Satisfied
Stock granted in 2022		164,595	Satisfied
Stock granted in 2023		74,281	Proportional to service period
Other subsidiaries
Stock granted in 2015		4,048	Satisfied
Stock granted in 2016		18,144	Satisfied
Stock granted in 2017		35,359	Satisfied
Stock granted in 2018		82,096	Satisfied
Stock granted in 2019		91,957	Satisfied
Stock granted in 2020		262,400	Satisfied
Stock granted in 2021		464,576	Satisfied
Stock granted in 2022		511,024	Satisfied
Stock granted in 2023		171,784	Proportional to service period
		2,128,740

* Executives and employees were given the right of choice about the timing of the deferred payment (after the date of retirement), payment ratio, and payment period. Accordingly, a certain percentage of the granted shares is deferred for up to five years after the date of retirement after the deferred grant has been confirmed.

Share-based payments arrangement for subsidiaries was transferred to the Company in 2010, and the related compensation cost paid to the executives and employees of subsidiaries is reimbursed by subsidiaries. The accrued expenses for share-based payments as of June 30, 2023 and December 31, 2022, are W154,984 million and W186,908 million, respectively, and the receivables to be reimbursed by subsidiaries for the compensation costs as of June 30, 2023 and December 31, 2022, are W140,756 million and W169,918 million, respectively. And compensation costs from share-based payments amounting to W2,886 million and W1,689 million were recognized for the six-month periods ended June 30, 2023 and 2022, respectively.

40

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2023 and 2022 (Unaudited), and December 31, 2022

20. Income Tax Benefit (Expense)

Details of income tax benefit (expense) for the six-month periods ended June 30, 2023 and 2022, are as follows:

(In millions of Korean won)	2023			2022
Income tax payable	W	—		W	—
Changes in deferred tax assets and liabilities
Origination and reversal of temporary differences		(8,330	)		8,750
Income tax recognized directly in equity
Remeasurements of net defined benefit liabilities		9			(106	)
Income tax benefit (expense)	W	(8,321	)	W	8,644

21. Earnings per Share

21.1 Basic Earnings per Share

Basic earnings per share is calculated from the earnings attributable to ordinary shares.

21.1.1 Weighted average number of ordinary shares outstanding

(In number of shares)	2023						2022
	Three months			Six months			Three months			Six months
Number of issued ordinary shares		403,511,072			403,511,072			412,352,494			412,352,494
Number of treasury shares *		(19,262,733	)		(19,262,733	)		(22,718,159	)		(22,718,159	)
Weighted average number of ordinary shares outstanding		384,248,339			386,170,890			389,634,335			389,634,335

* Treasury stock retired during the six-month period ended June 30, 2022 were deducted from February 14, 2022.

21.1.2 Basic earnings per share

(In Korean won and in number of shares)	2023
	Three months			Six months
Profit (loss) for the period	W	(26,449,014,645	)	W	2,156,477,988,072
Deduction: Dividends on hybrid securities		(48,070,325,000	)		(88,774,400,000	)
Profit (loss) attributable to the ordinary equity holders (A)		(74,519,339,645	)		2,067,703,588,072
Weighted average number of ordinary shares outstanding (B)		384,248,339			386,170,890
Basic earnings (loss) per share (A/B)	W	(194	)	W	5,354

(In Korean won and in number of shares)	2022
	Three months			Six months
Profit (loss) for the period	W	(54,121,779,560	)	W	1,569,682,848,806
Deduction: Dividends on hybrid securities		(28,650,200,000	)		(51,183,400,000	)
Profit (loss) attributable to the ordinary equity holders (A)		(82,771,979,560	)		1,518,499,448,806
Weighted average number of ordinary shares outstanding (B)		389,634,335			389,634,335
Basic earnings (loss) per share (A/B)	W	(212	)	W	3,897

41

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2023 and 2022 (Unaudited), and December 31, 2022

21.2 Diluted Earnings per Share

Diluted earnings per share is calculated through increasing the weighted average number of ordinary shares outstanding by the weighted average number of additional ordinary shares that would have been outstanding assuming the conversion of all dilutive potential ordinary shares. The Company has dilutive potential ordinary shares such as stock grants and ordinary share exchange right of exchangeable bonds.

A calculation is done to determine the number of shares that could have been acquired at fair value (determined as the average market share price for the year) based on the monetary value of stock grants. The number of shares calculated above is compared with the number of shares that would have been issued assuming the settlement of stock grants.

Exchangeable bonds are included in potential ordinary shares from the exercisable date of the exchange right, and interest expense after tax for the period is added to profit for diluted earnings per share.

21.2.1 Adjusted profit for diluted earnings per share

(In Korean won)	2023
	Three months			Six months
Profit (loss) attributable to the ordinary equity holders *	W	(74,519,339,645	)	W	2,067,703,588,072
Adjustment:
Interest expense on exchangeable bonds		611,283,413			1,215,849,425
Adjusted profit (loss) for diluted earnings (loss) per share	W	(73,908,056,232	)	W	2,068,919,437,497

(In Korean won)	2022
	Three months			Six months
Profit (loss) attributable to the ordinary equity holders *	W	(82,771,979,560	)	W	1,518,499,448,806
Adjustment:
Interest expense on exchangeable bonds		593,607,663			1,180,692,166
Adjusted profit (loss) for diluted earnings (loss) per share	W	(82,178,371,897	)	W	1,519,680,140,972

* The amount is after deducting dividends on hybrid securities.

21.2.2 Weighted average number of ordinary shares outstanding for diluted earnings per share

(In number of shares)	2023				2022
	Three months		Six months		Three months		Six months
Weighted average number of ordinary shares outstanding		384,248,339		386,170,890		389,634,335		389,634,335
Adjustment:
Stock grants		3,686,627		4,099,113		3,676,844		4,135,955
Exchangeable bonds		5,000,000		5,000,000		5,000,000		5,000,000
Adjusted weighted average number of ordinary shares outstanding for diluted earnings (loss) per share		392,934,966		395,270,003		398,311,179		398,770,290

42

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2023 and 2022 (Unaudited), and December 31, 2022

21.2.3 Diluted earnings per share

(In Korean won and in number of shares)	2023
	Three months			Six months
Adjusted profit (loss) for diluted earnings (loss) per share	W	(73,908,056,232	)	W	2,068,919,437,497
Adjusted weighted average number of ordinary shares outstanding for diluted earnings (loss) per share		392,934,966			395,270,003
Diluted earnings (loss) per share	W	(188	)	W	5,234

(In Korean won and in number of shares)	2022
	Three months			Six months
Adjusted profit (loss) for diluted earnings (loss) per share	W	(82,178,371,897	)	W	1,519,680,140,972
Adjusted weighted average number of ordinary shares outstanding for diluted earnings (loss) per share		398,311,179			398,770,290
Diluted earnings (loss) per share	W	(206	)	W	3,811

22. Statement of Cash Flows

22.1 Details of cash and cash equivalents as of June 30, 2023 and December 31, 2022, are as follows:

(In millions of Korean won)	June 30, 2023			December 31, 2022
Due from financial institutions	W	1,202,390		W	351,056
Deduction:
Restricted due from financial institutions		(3	)		(3	)
Due from financial institutions with original maturities over three months		(90,000	)		(120,000	)
		(90,003	)		(120,003	)
	W	1,112,387		W	231,053

22.2 Significant non-cash transactions for the six-month periods ended June 30, 2023 and 2022, are as follows:

(In millions of Korean won)	2023			2022
Changes in receivables and payables from consolidated tax return	W	468,242		W	862,503
Changes in receivables and payables related to stock grants		(29,161	)		(36,732	)

43

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2023 and 2022 (Unaudited), and December 31, 2022

22.3 Cash inflows and outflows from income tax, interest, and dividends for the six-month periods ended June 30, 2023 and 2022, are as follows:

(In millions of Korean won)	Activity	2023		2022
Income tax paid	Operating	W	4,197	W	2,263
Interest received	Operating		10,144		5,949
Interest paid	Operating		51,390		52,709
Dividends received	Operating		2,219,071		1,685,357
Dividends paid	Financing		849,711		1,099,299

23. Contingent Liabilities and Commitments

23.1 Commitments made with financial institutions as of June 30, 2023 and December 31, 2022, are as follows:

(In millions of Korean won)		June 30, 2023				December 31, 2022
		Amount of commitments		Amount borrowed		Amount of commitments		Amount borrowed
General loan	Hana Bank	W	200,000	W	—	W	200,000	W	—
General loan	Shinhan Bank		200,000		—		—		—
General loan	NongHyup Bank		300,000		—		—		—

23.2 Other Matters (including litigation)

The Company has 1 pending lawsuit as a defendant with aggregate claims amount of W0.1 million, which arose in the normal course of the management activities, as of June 30, 2023.

44

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2023 and 2022 (Unaudited), and December 31, 2022

24. Related Party Transactions

According to Korean IFRS No.1024, the Company includes subsidiaries and key management personnel (including family members) in the scope of related parties. The Company discloses balances (receivables and payables) and other amounts arising from transactions with related parties in the notes to the financial statements. Refer to Note 9 for details of subsidiaries. Key management personnel include the executives of the Company, their close family members, and the companies where the executives and/or their close family members have control or joint control.

24.1 Details of significant profit or loss arising from transactions with related parties for the six-month periods ended June 30, 2023 and 2022 are as follows:

(In millions of Korean won)
Subsidiaries	Profit or loss	2023		2022
Kookmin Bank	Interest income	W	8,393	W	2,538
	Fee and commission income		608		758
	Net other operating income *1		1,346,582		1,031,167
	General and administrative expenses		5,778		5,542
KB Securities Co., Ltd.	Interest expense		—		15
	Fee and commission income		43		133
	Net losses on financial assets at fair value through profit or loss		19,588		(13,493	)
	Net other operating income *1		100,000		200,000
	General and administrative expenses		172		434
KB Insurance Co., Ltd.	Fee and commission income		73		183
	General and administrative expenses		875		970
	Net other operating income *1		349,990		—
KB Kookmin Card Co., Ltd.	Fee and commission income		17		42
	Net other operating income *1		200,008		250,056
	General and administrative expenses		183		15
	Net non-operating income *2		3,920		3
KB Life Insurance Co., Ltd.	Fee and commission income		23		32
	Net other operating income *1		100,000		100,000
	General and administrative expenses		567		350
KB Asset Management Co., Ltd.	Net other operating income *1		60,000		40,000
KB Capital Co., Ltd	Interest income		2,381		—
	Fee and commission income		8		17
	Net gains on financial assets at fair value through profit or loss		23,542		2,863
	Provision for credit losses		3		—
KB Life Insurance Co., Ltd.	Fee and commission income		—		25
	General and administrative expenses		—		139
KB Real Estate Trust. Co., Ltd.	Net other operating income *1		35,000		40,000

45

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2023 and 2022 (Unaudited), and December 31, 2022

24.1 Details of significant profit or loss arising from transactions with related parties for the six-month periods ended June 30, 2023 and 2022, are as follows: (cont’d)

(In millions of Korean won)
Subsidiaries	Profit or loss	2023		2022
KB Savings Bank Co., Ltd.	Interest income	W	2,296	W	1,576
	Fee and commission income		1		1
	Net gains (losses) on financial assets at fair value through profit or loss		1,423		(6,529	)
KB Investment Co., Ltd.	Interest income		3,848		2,809
	Net other operating income *1		—		10,000
	Provision (reversal) for credit losses		5		2
KB Data Systems Co., Ltd.	General and administrative expenses		1,440		1,232
	Net other operating income *1		600		—
Other related parties	Profit or loss	2023		2022
KB Credit Information Co., Ltd. *3	Interest income	W	161	W	—
	Net other operating income *1		200		—

^*1  Net other operating income includes dividend income from subsidiaries.

^*2  Includes W3,917 million of gains on disposal of investments in KB Credit Information Co., Ltd.

^*3  The Company sold the 100% shares of KB Credit Information Co., Ltd. to Kookmin Card Co., Ltd. on June 30, 2023.

24.2 Details of significant outstanding balances of receivables and payables arising from transactions with related parties as of June 30, 2023 and December 31, 2022, are as follows:

(In millions of Korean won)
Subsidiaries	Assets or liabilities	June 30, 2023		December 31, 2022
Kookmin Bank	Cash and due from financial institutions	W	1,112,390	W	231,056
	Other assets		360,247		828,505
	Other liabilities		4,797		97
	Property and equipment		117		357
KB Securities Co., Ltd.	Financial assets at fair value through profit or loss		509,982		401,732
	Other assets		91,930		66,162
	Other liabilities		251		116,503
KB Insurance Co., Ltd.	Other assets		17,647		111,433
	Other liabilities		559		47
KB Kookmin Card Co., Ltd.	Other assets		69,092		88,968
	Other liabilities		943		755
KB Life Insurance Co., Ltd.	Other assets		56,447		70,534
	Other liabilities		630		67
KB Asset Management Co., Ltd.	Other assets		11,827		21,033

46

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2023 and 2022 (Unaudited), and December 31, 2022

24.2 Details of significant outstanding balances of receivables and payables arising from transactions with related parties as of June 30, 2023 and December 31, 2022, are as follows: (cont’d)

(In millions of Korean won)
Subsidiaries	Assets or liabilities	June 30, 2023		December 31, 2022
KB Capital Co., Ltd.	Financial assets at fair value through profit or loss	W	482,142	W	472,439
	Loans measured at amortized cost (gross amount)		200,000		200,000
	Allowances for credit losses		234		234
	Other assets		32,979		52,941
KB Life Insurance Co., Ltd.	Other assets		—		4,655
	Other liabilities		—		9,188
KB Real Estate Trust Co., Ltd.	Other assets		12,377		8,860
KB Savings Bank Co., Ltd.	Cash and due from financial institutions		90,000		120,000
	Financial assets at fair value through profit or loss		45,750		43,524
	Other assets		4,473		7,280
	Other liabilities		86		67
KB Investment Co., Ltd.	Loans measured at amortized cost (gross amount)		310,000		310,000
	Allowances for credit losses		924		924
	Other assets		7,580		5,943
KB Data Systems Co., Ltd.	Intangible assets		331		1,716
	Other assets		1,650		3,456
	Other liabilities		210		208
Other related parties	Assets or liabilities	2023		2022
KB Credit Information Co., Ltd. *1	Loans measured at amortized cost (gross amount)	W	13,500	W	13,500
	Allowances for credit losses		16		16
	Other assets		926		1,054
	Other liabilities		30		61

^*1  The Company sold the 100% shares of KB Credit Information Co., Ltd. to Kookmin Card Co., Ltd. on June 30, 2023.

24.3 Right-of-use assets and lease liabilities with related parties as of June 30, 2023 and December 31, 2022, are as follows:

(In millions of Korean won)			June 30, 2023		December 31, 2022
Subsidiary	Kookmin Bank	Right-of-use assets	W	117	W	357

47

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2023 and 2022 (Unaudited), and December 31, 2022

24.4 Unused commitments provided from related parties as of June 30, 2023 and December 31, 2022, are as follows:

(In millions of Korean won)			June 30, 2023		December 31, 2022
Subsidiary	KB Kookmin Card Co., Ltd.	Unused lines of credit for credit card	W	2,240	W	2,245

24.5 Share transactions with related parties for the six-month periods ended June 30, 2023 and 2022, are as follows:

(In millions of Korean won)			2023		2022
Subsidiary	KB Capital Co., Ltd.	Acquisition of hybrid securities	W	—	W	100,000
	KB Securities Co., Ltd.	Acquisition of hybrid securities		100,000		200,000
Other related party	KB Credit Information Co., Ltd.	Disposal of shares		23,620		—

24.6 Details of significant lending transactions with related parties for the six-month periods ended June 30, 2023 and 2022, are as follows:

(In millions of Korean won)		2023
		Beginning		Loan		Collection		Ending
Subsidiary	KB Investment Co., Ltd.	W	310,000	W	—	W	—	W	310,000
	KB Capital Co., Ltd.		200,000		—		—		200,000
	KB Savings Bank Co., Ltd. *1		70,000		—		—		70,000
Other related party	KB Credit Information Co., Ltd. *2		13,500		—		—
					—		—		13,500

(In millions of Korean won)		2022
		Beginning		Loan		Collection		Ending
Subsidiary	KB Investment Co., Ltd.	W	250,000	W	—	W	—	W	250,000
	KB Savings Bank Co., Ltd. *		70,000		—		—		70,000

^*1  Par value of subordinated bond issued by KB Savings Bank Co., Ltd. The difference between par value and fair value at the acquisition date was accounted for as investments in subsidiaries.

^*2  The Company sold the 100% shares of KB Credit Information Co., Ltd. to Kookmin Card Co., Ltd. on June 30, 2023.

48

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2023 and 2022 (Unaudited), and December 31, 2022

24.7 Details of compensation to key management personnel for the six-month periods ended June 30, 2023 and 2022, are as follows:

(In millions of Korean won)	2023
	Short-term employee benefits		Post-employment benefits		Share-based payments		Total
Registered directors (executive)	W	645	W	32	W	585	W	1,262
Registered directors (non-executive)		327		—		—		327
Non-registered directors		3,417		132		2,301		5,850
	W	4,389	W	164	W	2,886	W	7,439

(In millions of Korean won)	2022
	Short-term employee benefits		Post-employment benefits		Share-based payments		Total
Registered director (executive)	W	650	W	16	W	209	W	875
Registered director (non-executive)		316		—		—		316
Non-registered director		3,434		70		1,480		4,984
	W	4,400	W	86	W	1,689	W	6,175

25. Events after the reporting period

According to the resolution of the Board of Directors on July 25, 2023, the interim dividends per share of W510 (total dividends: W195,966 million) with dividend record date of June 30, 2023 were paid on August 8, 2023. The Company’s financial statements as of June 30, 2023, do not reflect this dividends payable.

In accordance with the resolution of the Board of Directors on July 25, 2023, the Company plans to acquire and retire 6,295,907 shares (W300,000 million) of treasury stocks on the market by July 31, 2024. However, the above number of stocks were computed based on the closing price (W47,650) as of July 24, 2023, the day before the Board of Directors meeting (July 25, 2023); as such, the final number of treasury stocks to be retired may change according to stock price.

49