KakaoBank said on the 9th that it obtained the highest rating, "AAA," in the "MSCI ESG Ratings" released by Morgan Stanley Capital International (MSCI). It was upgraded again eight months after receiving an "AA" in Feb., and it has reached the top of the ratings scale four years after receiving its first assessment (BB) in Oct. 2021.
MSCI is a leading global ESG rating agency and an international evaluation body that assesses the ESG management level of more than 8,500 listed corporations worldwide every year. It reviews a wide range of factors across environment, society, and governance—such as green finance, financial consumer protection, talent acquisition and development, and corporate governance—and assigns seven ratings from AAA (highest) to CCC (lowest).
MSCI's ratings are regarded as the most credible and influential, serving as key decision-making indicators for global investors. The fact that KakaoBank received the highest rating is expected to have a positive impact on enhancing corporate value.
Among domestic internet-only banks, KakaoBank is the only one being rated for MSCI ESG. KakaoBank received high marks in areas such as personal information and information protection, financial consumer protection, and the institutional sector of governance.
KakaoBank is regularly audited on its information protection system by various domestic and overseas institutions. It has continuously maintained certifications for information security management systems, including ISO 27001 (international standard information security certification), ISO 27701 (international standard personal information protection certification), and ISMS-P (information security and personal information protection management system for operating electronic financial transaction services), and it has also received the top grade (S grade) for five consecutive years since 2021 in the information protection continuous evaluation system overseen by the Financial Services Commission (FSC).
KakaoBank operates a consumer protection team consisting of the Consumer Protection Planning Team, the Financial Fraud Response Team, and the FDS Team, and provides proactive financial education for financially vulnerable groups. This year, it is conducting financial fraud prevention education for more than 6,000 people, including children and teenagers, seniors, and youths preparing for independence.
KakaoBank said, "Since receiving our first assessment in 2021, we have steadily advanced our sustainable management system, which enabled us to earn the highest rating in this evaluation," and added, "We will continue to strive across all aspects of management—environment, society, and governance—to practice ESG management that meets global standards."