WHITE PAPERS

KB Asset Management

KB Asset Management's Value Investment Division seeks to maximize compound return through long-term
value investment. However, among Korean companies, shareholder value was often discounted compared to
corporate value due to poor corporate governance. The Value Investment Division (KB Shareholder Value
Focus fund) engages in the following activities to improve shareholder value.

Nexteye (137940 KS)

Nexteye (137940 KS)
9 Aug 2018 Response letter from Nexteye Download
30 Jul 2018 Engagement letter to Nexteye Download

Gwangju Shinsegae (037710 KS)

Gwangju Shinsegae (037710 KS)
25 May 2018 Response letter from Gwangju Shinsegae Download
25 Apr 2018 Engagement letter to Gwangju Shinsegae Download

Golfzon (215000 KS)

Golfzon (215000 KS)
31 May 2018 Win a lawsuit against Golfzon Download
25 Apr 2018 Lawsuit against Golfzon Download
16 Mar 2018 Second engagement letter to Golfzon Download
13 Mar 2018 Response letter from Golfzon Download
23 Feb 2018 First engagement letter to Golfzon Download

Com2uS (078340 KS)

Com2uS (078340 KS)
5 Feb 2018 Response from Com2uS through 4Q17 earning conference call Download
1 Jan 2018 Engagement letter to Com2uS Download