UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of July 2024
Commission File Number: 000-53445
KB Financial Group Inc.
(Translation of registrants name into English)
26, Gukjegeumyung-ro 8-gil, Yeongdeungpo-gu, Seoul 07331, Korea
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Resolution to Enter into a Trust Agreement for the Acquisition of Treasury Shares
On July 23, 2024, the board of directors of KB Financial Group Inc. (KB Financial Group) resolved to enter into a trust agreement with Samsung Securities Co., Ltd. to acquire treasury shares within the profits available for dividends. The details are as follows:
Total Contract Amount | KRW 400,000,000,000 | |||
Contract Period | From | August 26, 2024 | ||
To | March 4, 2025 | |||
Purpose of Acquisition | To increase shareholder return and corporate value | |||
Contracting Party | Samsung Securities Co., Ltd. | |||
Expected Date of Agreement | August 26, 2024 | |||
Number of Treasury Shares owned as of July 23, 2024 |
29,245,382 shares (7.25%) | |||
Date of Resolution by the Board of Directors | July 23, 2024 |
Limitation on the acquisition amount of treasury shares as of July 23, 2024:
(Unit: KRW)
Items |
Amount | |||
1. Upper limit of profits available for dividends as of the end of the previous fiscal year in accordance with the Korean Commercial Code |
3,042,178,048,322 | |||
2. Amount of treasury shares acquired since the end of the previous fiscal year |
319,999,980,300 | |||
3. Dividends and related earnings surplus reserves resolved at the annual general shareholders meeting held after the end of the previous fiscal year |
587,005,652,250 | |||
4. Quarterly/interim dividends and related earnings surplus reserves resolved at the meeting of the board of directors after the end of the previous fiscal year |
600,085,999,590 | |||
5. Contract amount for the trust agreement |
| |||
6. Acquisition cost of the treasury shares if disposed after the end of the previous fiscal year (based on the moving average method applied to the acquisition cost) |
| |||
Limitation on the acquisition amount of treasury shares (1-2-3-4-5+6) |
1,535,086,416,182 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
KB Financial Group Inc. | ||||||
(Registrant) | ||||||
Date: July 23, 2024 | By: | /s/ Jae Kwan Kim | ||||
(Signature) | ||||||
Name: Jae Kwan Kim | ||||||
Title: Senior Executive Vice President and Chief Finance Officer |