Strong support from KB Financial Group as a core subsidiary. Solid retail customer base. Adequate risk control aligned with the group's. Profitability susceptible to fluctuations in the domestic securities market. Exposure to market risks, including interest rate risk, given large holdings in fixed-income securities. The stable outlook on KB Securities Co. Ltd. reflects our view that KB Financial Group Inc. (KBFG) will maintain adequate capital buffer to support its business growth and well-managed asset quality with low credit losses over the next 18-24 months. We expect the group to provide strong support to the company under any foreseeable circumstances considering KB Securities' core importance to the group. The ratings on the company will therefore remain highly correlated with the group's
