KTB rebrands with name change as Daol Financial Group

Daol Financial Group of South Korea, formerly known as KTB Financial Group, announced on March 25 the change in the company's name. Daol, a Korean word meaning "everything one does attracts good luck," represents the group’s vision to provide innovative financial services and become increasingly customer-friendly.

The company's previous name followed its link to Korea Technology Banking, a state-owned financial firm focusing on venture capital, which was privatized in 1999 and rebranded as KTB in 2000.

The group had only one venture capital affiliate in 2000 – now, it owns 13 affiliates including six in Korea and seven overseas. The Korea-based affiliates are Daol Investment & Securities Co., Daol Savings Bank Co., Daol Investment Co., Daol Asset Management Co., Daol Private Equity Co. and Daol Credit Information Co. The overseas affiliates emcompass five subsidiaries based in Thailand, which include a securities firm, an asset manager and a REIT, as well as a US-based VC and securities firm.
 
Daol Investment & Securities has renewed its record-high performances over the past three years. Last year, the securities firm achieved 143.3 billion won ($117.1 million) in operating profit and 174.1 billion won in net profit on a consolidated basis. These records marked 115.5% and 129.2% leaps, respectively, from 2020.

Alongside the name change, the group also announced its Jump-up 2024 vision, committing to secure a competitive edge in its main businesses and continued fast growth through digital transformation and expansion of its global network. Chairman Lee Byung-chul said the group will advance by leading in innovative services and by pioneering new markets.

Write to Ui-Myung Park at uimyung@hankyung.com
Jihyun Kim edited this article.