Kim Seong-hwan, president of Korea Investment & Securities Co., said he will make this year the first year of a leap to No. 1 in Asia and reinvent the firm as a tech company with a financial license.
On Jan. 2, Kim said in a New Year's address, "The growth of Korea Investment & Securities Co. has only just begun," adding, "We must now look to the global stage where global giants are vying, and we need to cross boundaries."
Kim cited three management strategies. First, he said the firm must cross the boundary between capital and business. Kim said, "Through the integrated managed account (IMA), we have become a new main agent in finance. Based on this, we will carry out corporate finance and innovative investment, strengths of a securities firm."
He went on, "The IMA will be both our new source of revenue and play a role as a growth engine for Korea," emphasizing, "In the IMA business, above all, rigorous risk management is essential so as not to break the market's and customers' trust, and we must do our utmost in financial consumer protection and management of operational risk."
He also pointed to the need to cross national borders. Kim said, "We must freely handle attractive investment opportunities around the world and make global funds flow through the KIS platform," adding, "We have already pioneered a path others could not take through a global alliance strategy, and this year we must accelerate the creation of visible results on this path based on new strategies and execution."
He also said that the firm must cross the boundaries of the industry by using artificial intelligence (AI) and digital technology. Kim explained, "AI is not just a support tool. It is a powerful weapon that breaks the boundaries of the industry and drives us into new territories of revenue."
He added, "We must create tomorrow's revenue sources by introducing technology a step ahead of others and discovering new businesses, and the digital institutional sector must do its utmost to radically improve work efficiency." The point is that "working smart with technology," not "working hard," must become the new competitive edge.
Lastly, Kim stressed that the foundation of all this growth expansion must never forget "the customer." He said, "The more we expand massively beyond the boundaries of capital, borders, and industry, the more steadfast our original commitment to customers must become," adding, "No matter how great the results, without customers' trust they are nothing more than a castle in the sand."
He continued, "We need sincerity that treats customers' assets like my own life, intensity that tolerates not even a small risk, and a principle of always being honest with customers. Do not be complacent, and approach everything with humility."