Jae Keun Lee - CFO

Good afternoon. My name is Kwon Bong-Ju in charge of the IR department at KB Financial Group. We will now start the earnings conference call for our First Half Results. Thank you very much for joining us today. First, we will start off with a presentation by our CFO, Jae Keun Lee. Also, we have the executives in charge of major subsidiaries present as well to take your questions. Following the presentation by our CFO, we will take your questions. Now our CFO, Jae Keun Lee, will give us our first half results.

Good afternoon. This is Jae Keun Lee, CFO of KB Financial Group. Before we go over the first half results, I would like to give you a brief business update. In Q2, the financial sector saw favorable business conditions overall with continued Fed rate hikes as announced from end of last year and the KOSPI hitting historical highs supported by better earnings and expectations of an economic recovery. Meanwhile, in Korea, the new President took office last May and now we are starting to see better visibility of a new administration's comprehensive policies regarding household debt, which is a potential destabilizing risk for the Korean economy. Regulations for the real estate market, which is overheating and showing signs of speculative movements as well as policies to protect the financially vulnerable. We believe such efforts will provide a strong foundation from virtuous cycle and balanced growth for the Korean economy. As the leading financial group in Korea, KB Financial Group will remain dedicated to its social responsibility and continue its contributions for sound growth. At the same time, we will achieve continuous profitability improvement and efficient capital utilization to deliver greater shareholder value. As part of such effort, KB Financial Group started the process of converting KB Insurance and KB Capital into a wholly owned subsidiary since last April. And thanks to the overwhelming support of the 2 subsidiaries and KB Financial Group, we have successfully completed purchase of the remaining shares and we were able to complete a more balanced business portfolio and a stable structure for future profitability. KB Insurance has been consolidated into the business results of KB Financial Group from Q2. Now let's look at our first half business results. KB Financial Group's 2017 first half net income was KRW 1,860.2 trillion, which is the highest half-year…