[New Year's Message] Jung Il-moon, President of KTB Securities, "A New Decade, a Year to Lay the Foundation and Framework"

[Asia Economy Reporter Koh Hyung-kwang] Jung Il-moon, CEO of Korea Investment & Securities, emphasized on the 2nd, "This year must be a year to firmly lay the foundation and groundwork for a new decade."

In his New Year's address on the same day, CEO Jung said, "To prepare for the new decade, we underwent the largest organizational restructuring and personnel changes since the financial crisis, and this year marks the first year of the 2020s."

CEO Jung stressed that to lay the foundation for the new decade, it is necessary to build a sustainable growth system, prepare for future changes, and establish a sound corporate culture.

Below is the full text of CEO Jung’s New Year's address.

Dear employees of Korea Investment & Securities, Happy New Year. I sincerely hope that this year will be a year in which all of us in the Han투 family achieve what we desire.

In 2019, despite difficult external conditions, we achieved record-high performance. This is a result we all accomplished together. Also, to prepare for the new decade, we underwent the largest organizational restructuring and personnel changes since the financial crisis.

This year marks the first year of the 2020s. We must embark on the "start toward a new decade." And this year must be a year to firmly lay the foundation and groundwork for the new decade. Building a sustainable growth system, preparing for future changes, and establishing a sound corporate culture are the foundation and groundwork we must achieve this year.

First, building a sustainable growth system.

At the end of last year, I established a framework to build this through a regular organizational restructuring. Now, I ask you to implement it in the field. If you need my help, I will not hesitate to be with you anywhere.

By division, retail must strengthen qualitative growth of asset management centered on products and corporate coverage centered on financial centers. To this end, we will establish a new performance compensation system.

Wholesale should change one step ahead of the market and proactively respond to market changes. In particular, strengthening growth areas through selection and concentration and improving sales efficiency are necessary.

IB and PF must build a strong sales network that can overcome intensified competition and regulations. Please make the best use of the newly established group leader system to achieve the best results.

The asset management division should upgrade its expertise. I consider the external environment not as a variable but as a constant, and to achieve stable management performance, expertise must be secured.

And headquarters management must have a mindset of starting anew from the basics. Please transform into an efficient management organization befitting the status of Korea’s number one securities firm.

If the above four matters are implemented, we will be able to secure a sustainable growth system that is not shaken by external environments.

Second, we must prepare for future changes.

Looking ahead to the next 10 years, our future depends on three things: responding to changes in financial demand groups, expanding overseas business, and securing new sources of revenue. In preparation for rapid aging and the full-fledged financial consumerization of the millennial generation, the retail group, DT headquarters, and IT headquarters must focus their capabilities on developing related products and platforms.

Next, we must actively develop overseas business. Now, Korea’s growth has stabilized at 1-2%. Our competitors are not domestic securities firms but global IBs. We must advance into advanced financial markets with a broader perspective.

And we must actively discover new sources of revenue. If we fail to find new revenue sources that will lead future changes, we will inevitably be left behind. Innovation does not exist in a special place. It begins with questioning what was taken for granted.

To emphasize again, please keep in mind that our next 10 years depend on responding to changes in financial demand groups, expanding overseas business, and securing new sources of revenue as you carry out your work.

Lastly, we must establish a sound corporate culture.

To approach our dream of becoming Asia’s number one financial company, corporate culture must be the foundation. Therefore, I want to talk to you about the ‘Responsibility and Action Code.’

We are employees of Korea’s number one securities firm. We have already kept this ‘pride’ in a corner of our hearts. However, if we only keep this ‘pride’ in our hearts, our culture will not develop. Actions such as proposing improvements rather than complaining about the company, an attitude of changing oneself first rather than trying to change others, consideration that thinks of ‘us’ before ‘me,’ and the will to leave a better company to juniors must accompany pride for development.

Everyone, you are well aware of ‘Wonjaksae,’ the code of conduct of Korea Investment Financial Group. ‘Thorough principles, cherish small things, boldly embrace new things.’ I am confident that if we all adhere well to these three codes of conduct, we can fulfill our responsibilities as ‘Han투in.’ When you fulfill your responsibilities, I will wholeheartedly support you so that you can feel even greater pride.

Dear employees of Korea Investment & Securities, I am your senior and companion before being a CEO. The ‘Han투 family’ of over ten thousand people is a heavy burden that I cannot carry alone. Let’s go together. Only then can we step closer to our dream step by step.

Han투 family!

What dream did you have in the New Year? I dreamed of all of you becoming happy. Let’s move forward toward my dream of your happiness and our shared dream of becoming Asia’s best financial company!

This content was produced with the assistance of AI translation services.