Kookmin Bank (KB Bank) From South Korea to Russia - PowerPoint PPT Presentation

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Kookmin Bank (KB Bank) From South Korea to Russia PowerPoint Presentation
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Kookmin Bank (KB Bank) From South Korea to Russia

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  1. Kookmin Bank (KB Bank)From South Korea to Russia Dave Stark Season Eckstrom Jun Lee

  2. Table of contents • KB Bank • Mobile Banking • Korea • Russia • Market Analysis • Time Line

  3. KB Bank • Services & Products • Customer (Korea) • 820,000 mobile banking users • 7.33 million internet customers • 8 International Branches • US, Hong Kong, China, Japan

  4. KB Bank • Awards and Acknowledgments • Ranked 349th among Top 500 global Corporations by Fortune • Best cash management bank in Korea by Finance Asia • Ranked No. 1 among banks in National Customer Satisfaction Index (NCSI)

  5. Mobile Banking • Differences • Telebanking • Internet Banking • Mobile Banking (2.40 million) • IC - device into phone • VM – download program • WAP – text message

  6. Mobile Banking • Advantages • Banks • Save time • Customers • ATM • Transfer Money • Debit/Credit • Bus/Subway Pass • Membership Card

  7. South Korea • Language: Korean • People • Population: 49,044,790 • Age distribution: • 15-64 years: 72.1% • Economy • GDP per capita: $24,500 • Labor force: • services: 67.2% • Communication • Internet User: 34.12 million (69%) • Mobile User: 40.197 million (82%)

  8. Russia • Language: Russian • People • Population: 141,377,752 • Age distribution: • 15-64 years: 71.1% • Economy • GDP per capita: $12,200 • Labor force: • services: 60.1% • Communication • Internet User: 25.689 million (18%) • Mobile User: 120 million (85%)

  9. Russia and South Korea • Relationship • Post World War II • Tensions arise with the division of Korea • Diplomatic relations established in 1990 • “Trustful comprehensive partnership” • Trade progressively increasing

  10. Rationale for Exporting to Russia • Lack of trust and confidence in Russian banking system • 1998 default on Russian government debt • Russian consumers are looking to foreign banks with good reputations

  11. Market Analysis • Target Market • Age between 18 to 55 (71.1%) • Students, Business professional, House wife • Middle class • Mobile phones with Internet access

  12. Market Analysis • Product • Mobile & Internet Banking • General Bank Services • Debit/Credit Card • Loan • Mortgage • Insurance • ATM

  13. Market Analysis • Promotion • Advertise • TV/Radio, Internet, Bus/Subway, Personal selling • 1st - 2nd year free

  14. Market Analysis • Place • Start with major metropolitan cities • Moscow and St. Petersburg • 90 percent cell phone usage

  15. Market Analysis • Price • Start up fee of $50 • 1st and 2nd year promotion • Monthly fee $5 • Transaction fee • Transfer to other banks ( $0.50~0.80) • Mobile Internet access fee • Mobile Companies

  16. Market Analysis • People • Transfers from Kookmin Bank in South Korea • Assist in training new employees from Russia • Teach the values of Kookmin Bank • Interest in consumer welfare • Professionalism • Embracing challenges • Respect for diversity • Social Responsibility

  17. Market Analysis • Process • Joint venture • Russian government • Mobile phone companies • Euroset • Physical Evidence • Same appearance as KB Bank in South Korea • Professional, simplistic • Incorporate the Russian culture through art

  18. Market Analysis • Competitors • Sberbank • 4 Locations in Moscow • 3 Locations in St. Petersburg • Vneshtorgbank (VTB) • 3 Locations in Moscow • 1 Location in St. Petersburg

  19. Market Analysis • Risks • Low Mobile usage in other cities • Old to New Mobile • Phones must have Internet access • Language (Korean to Russian) • Technology differences

  20. Time Line • 1st Year • Marketing research • Begin building the bank • Advertise • Promotion • 2nd Year • Grand opening in Moscow • Operating • 3rd Year • Begin construction on new branch in St. Petersburg • 4th Year • St. Petersburg branch opens • 5th Year • Look into opportunities for further expansion

  21. Question? Thank You