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Photo of KB Financial Group headquarters. (Source: Yonhap News) |
[Alpha Biz= Paul Lee] Seoul, August 24, 2025 – KB Asset Management announced plans to wind down its Shanghai-based subsidiary within this year as part of efforts to streamline its global operations and reallocate overseas resources more efficiently.
A company spokesperson explained, “The Shanghai subsidiary mainly focused on research activities. With our domestic investment teams now equipped with strengthened capabilities for China-related fund research, we decided to close the unit. Considering domestic investor demand, we will continue to explore new opportunities in other overseas markets.”
Industry observers note that KB Asset Management has struggled to achieve meaningful business expansion in China since establishing its wholly owned local entity, “Shanghai Kaibo Business Consulting Co., Ltd.” in 2018. At the time, the firm had signaled ambitions to grow its presence in China, develop independent investment capabilities, and tap into alternative investment opportunities as part of its global expansion strategy. However, progress has remained limited in the years since.
The move highlights KB Asset Management’s renewed focus on optimizing its global footprint while continuing to strengthen its domestic and overseas investment competitiveness.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
