SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of March 2004
Kookmin Bank
(Translation of registrant's name into English)
9-1, 2-Ga, Namdaemun-Ro, Jung-Gu, Seoul, Korea 100-703
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Form 20-F [X] Form 40-F [_]
Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101(b)(1): _____ -
Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of
a Form 6-K if submitted solely to provide an attached annual report to security
holders.
Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101(b)(7): _____
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of
a Form 6-K if submission to furnish a report or other document that the
registration foreign private issuer must furnish and make public under the laws
of the jurisdiction in which the registrant is incorporated, domiciled or
legally organized (the registrant's "home country"), or under the rules of the
home country exchange on which the registrant's securities are traded, as long
as the report or other document is not a press release, is not required to be
and has not been distributed to the registrant's security holders, and if
discussing a material event, has already been the subject of a Form 6-K
submission or other Commission filing on EDGAR.
Indicate by check mark whether by furnishing the information contained in
this Form, the registrant is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes [_] No [X]
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On March 23, 2004, Kookmin Bank disclosed as follows:
Exhibit Index
99.1 Results of General Shareholders' Meeting for the Fiscal Year of 2003
99.2 Grant of Stock Options
99.3 New Board of Directors
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Exhibit 99.1 Results of General Shareholders' Meeting for the Fiscal Year of
2003
On March 23, 2004, Kookmin Bank held the general shareholders' meeting for the
fiscal year of 2003, and all the five agenda listed below were approved of and
ratified as originally proposed.
[X] Agendum 1. Approval of Non-Consolidated Financial Statements (Balance
Sheet; Income Statement; and Statement of Disposition of
Accumulated Deficit) for the Fiscal Year of 2003
[X] Agendum 2. Partial Amendments to the Articles of Incorporation
[X] Agendum 3. Appointment of Directors
[X] Agendum 4. Appointment to the Audit Committee Member Candidates Who Are
Non-Executive Directors
[X] Agendum 5. Approval of Previously Granted Stock Options
For each details of originally proposed agenda, please refer (Agenda of General
Shareholders' Meeting for the Fiscal Year of 2003), which was disclosed on March
8, 2004.
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Exhibit 99.2 Grant of Stock Options
On March 23, 2004, the board of directors of Kookmin Bank approved and ratified
granting of stock options to directors and a senior executive vice president of
the Bank.
Pursuant to Article 13 of the Articles of Incorporation, the resolution by the
Board are subject to the approval and ratification at the first-coming general
shareholders' meeting after the date of grant.
The purpose of the grant is to motivate the grantees toward accomplishing
business targets and responsible management, as their performances will be
indexed to the exercisable number of options granted. The type of stock to be
granted is Kookmin Bank's registered common share.
1. List of Grantees and the Number of Options
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Name Position No. of Shares Granted
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Dong Soo Chung Non-Executive Director 5,000 common shares
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Woon Youl Choi Non-Executive Director 5,000 common shares
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Wang Ha Cho Non-Executive Director 5,000 common shares
--------------------------------------------------------------------------------
Young Soon Cheon Non-Executive Director 5,000 common shares
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Jung Young Kang Senior Executive Vice President 10,000 common shares
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Total 5 persons 30,000 common shares
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2. Adjustment to Number of Options for Senior Executive Vice President
The number of stock options granted to senior executive vice president, Mr. Jung
Young Kang, is subject to adjustment based on the average score of the key
performance indicators he will achieve for one year from the date of grant.
Where the grantee resigns or transfers for new assignment before one-year term
transpires, the calculation shall be made based upon the average score as of the
end of the latest quarter prior to any such event.
Evaluation Method
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Average Score Calculation of Exercisable Option
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Less than 60 points Stock option cancelled.
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Over 60 but . Stock options resulting from multiplying the number
of stock options granted by average score exercised.
Less than 80 points . Number of exercisable options = (Number of options
granted)x(Average score / 100)
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Over 80 points Total number of the granted stock options exercised.
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3. Grant Date: March 23, 2004
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4. Method of Exercise
Kookmin Bank may choose to grant shares by means of: 1) issuing new shares; 2)
granting treasury shares; or 3) granting cash or treasury shares for the
difference between the exercise price and the market price.
5. Exercise Price
i) Non-Executive Director, lined to stock price indices
Formula
Exercise price = 47,200 Won x (1 + rate of increase for KOSPI banking industry
index x 0.4)
Rate of increase for KOSPI banking industry index = (KOSPI banking industry
index after 1 year from the date of grant - KOSPI banking industry index as of
the date of grant) / KOSPI banking industry index as of the date of grant
Less than 100 Won of the calculated price is to be rounded up. Any negative rate
of increase for KOSPI banking industry index is not reflected in the
calculation.
ii) Executive Vice President: 47,200 Won
6. Exercise Period: From March 24, 2007 to March 23, 2012
7. Adjustment to Exercise Price and Number of Options
In the event of any right offering, stock dividend, transfer of reserves to
capital, stock split, reverse split, or merger, which require adjustments of the
price or the numbers of stock after the option grant date, adjustment shall be
made as needed in accordance with the resolutions reached by the Board of
Directors for, i.e., number of options and the exercise price.
8. Adjustment Following Resignation
If any grantee resigns or ceases employment with the Bank within 1 year from the
grant date and option exercise conditions have been met, the grantees could
exercise their exercisable number of options that shall be adjusted according to
the following formula. Less than a single share will be rounded down.
Formula
Exercisable number of shares= Number of shares adjusted according to performance
evaluation scoring x Number of Calendar Days at Work / 1 Year
-----------
1. KOSPI banking industry index as of the date of resignation is used in the
event any grantee resigns during the course of one year.
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Exhibit 99.3 New Board of Directors
As of March 23, 2004, the Board of Directors of Kookmin Bank consists of 4
executive directors and 12 non-executive directors as follows:
Executive directors
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Name Title Member of
the Audit Committee
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Jung Tae Kim President & Chief executive officer No
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Sung Nam Lee Auditor & Executive director Yes
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Donald H. MacKenzie Executive director & Senior executive vice president/ No
Risk Management Group
----------------------------------------------------------------------------------------------------------
Seong Kyu Lee Executive director & Senior executive vice president/ No
Workout & Operations Group
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Non-executive directors
-----------------------
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Name Current position out of Kookmin Bank Member of
the Audit Committee
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Moon Soul Chung Advisor, Mirae Corporation No
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Sun Jin Kim Chairman, Yuhan Chemical Industry Co. Yes
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Dong Soo Chung Professor, Sangmyung University Yes
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Richard Elliott Lint Principal, Mercer Human Resource Consulting No
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Kyung Hee Yoon Former Country manager & Managing director, Yes
ING Ltd., Korea
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Seoung Woo Nam CEO, Pulmuone Co., Ltd. No
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Suk Yong Cha President & CEO, Haitai Confectionery & Foods Co., Ltd. No
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Bernard S. Black Professor of Law, Stanford Law School No
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Ki Hong Kim Professor of Business Administration, No
Chungbuk National University
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Woon Youl Choi Dean of Graduate School of Business Administration, No
Sogang University
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Wang Ha Cho Vice chairman, Kolon No
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Young Soon Cheon Professor of Business Administration, Yes
Chungang University
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Kookmin Bank
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(Registrant)
Date: March 23, 2004 By: /s/ Ki Sup Shin
-----------------------------
(Signature)
Name: Ki Sup Shin
Title: Senior Executive Vice President &
Chief Financial Officer
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