KakaoBank said on the 9th that it obtained an AAA rating, the highest grade, in the MSCI ESG Ratings released by Morgan Stanley Capital International (MSCI). It was upgraded again eight months after receiving an AA rating in Feb., and it reached the top of the ratings ladder four years after receiving its first rating (BB) in Oct. 2021.
MSCI is a leading global ESG rating agency and an international evaluation organization that assesses the ESG management level of more than 8,500 listed corporations worldwide every year. It reviews a range of evaluation factors across the environment, society and governance, including eco-friendly finance, financial consumer protection, talent acquisition and development, and corporate governance, and assigns seven grades from AAA (highest) to CCC (lowest).
The MSCI ratings are considered the most authoritative and influential and are used as key decision-making indicators for global investors. The fact that KakaoBank received the highest grade is expected to have a positive effect on boosting corporate value.
Among domestic internet-only banks, KakaoBank is the only one being evaluated for an MSCI ESG rating. KakaoBank received high marks in areas such as personal information and information security, financial consumer protection, and the institutional sector of governance.
KakaoBank is regularly verified for its information protection system by various domestic and overseas institutions. It has continued to maintain certifications for its information security management system, including ISO 27001 (international standard for information security certification), ISO 27701 (international standard for personal information protection certification), and ISMS-P (information security and personal information protection management system for operating electronic financial transaction services), and it also received the highest grade (S grade) for five consecutive years since 2021 in the Financial Services Commission (FSC)-led standing evaluation system for information protection.
KakaoBank operates a consumer protection team composed 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 young people preparing for self-reliance.
KakaoBank said, "Since receiving the first rating in 2021, we have steadily advanced our sustainable management system, allowing us to earn the highest grade in this evaluation," and added, "We will continue our efforts across management in the environment, society and governance to practice ESG management that meets global standards."