HONG KONG (Standard&Poor's) April 18, 2016--Standard&Poor's Ratings Service today said that its ratings on Kookmin Bank (Kookmin; A/Stable/A-1) would be unaffected by the acquisition of a 22.56% stake in Hyundai Securities Co. Ltd. (not rated) by Kookmin's parent, KB Financial Group (KBFG, not rated). We do not expect to see any material change in Kookmin's group credit profile (GCP) in terms of both its business and financial prospects, mainly because Hyundai Securities will form a relatively small part of KBFG. The acquisition is still subject to regulatory approval. On April 12, KBFG signed a stock purchase agreement with Hyundai Securities' largest shareholders to buy a 22.56% stake for about Korean won (KRW) 1.25 trillion; the acquisition
