Korea Financial Investment Association Prepares Innovation Measures Related to 'Organizational Culture and HR System'

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[Asia Economy Reporter Kum Boryeong] The Korea Financial Investment Association (KOFIA) has prepared innovation measures regarding organizational culture, personnel systems, and organizational restructuring.

On the 4th, KOFIA announced that it has established an 'Organizational Innovation Plan' to implement an organizational system that aligns with the association's identity. The innovation plan includes improvement tasks in three areas related to the association's organizational operations: organizational culture, personnel systems, and organizational restructuring.

To restore organizational trust, a strict response system will be established for misconduct and other issues. Along with this, the association will promote the improvement of unreasonable systems and practices through the normalization of internal whistleblowing functions. To focus capabilities on a 'member company' and 'work'-centered organization, the vision will be redefined and an environment for proactive work promotion will be created. In particular, an 'Innovation-Board' composed of next-generation leader-level employees will be formed to lead the redefinition of the association's vision, preparation of detailed implementation plans for organizational culture and personnel system improvements, and the formation of internal consensus.

In the personnel system sector, the range of differentiated rewards based on performance will be expanded to foster a 'working atmosphere.' The personnel evaluation system will be improved by adjusting the frequency, target period, and evaluation framework. Additionally, management and utilization plans for contract and senior employees will be prepared.

In the organizational restructuring sector, a divisional representative system centered on member companies will be introduced. The existing Strategic Management Division and External Service Division will be abolished, and subordinate organizations will be placed directly under the president to make the decision-making system more efficient. In line with the trend of strengthening financial consumer protection functions, related tasks such as investment solicitation and contract advertisement review will be unified under the 'Consumer Protection Division.' Furthermore, a new 'Self-Regulation Operations Division' will be established to perform proactive self-regulation functions.

Alongside this, a 'Market Management Headquarters' will be created to support the stable development and growth of K-OTC and the bond market. Additionally, a 'External Cooperation Division' will be newly established to provide systematic support for capital market innovation tasks.

Among these innovation measures, parts that can be implemented solely through internal decision-making will be enacted immediately. However, if internal public discussion or other procedures are necessary, they will be promoted step-by-step once consultation and agreement are completed.

A KOFIA official stated, "Through the innovation measures announced on the launch day of February 4, the association will redefine its role and status as a negotiator, facilitator, and mediator within the financial investment industry and capital market," adding, "We plan to work together with the industry so that the financial investment industry can contribute to corporate growth and the national economy."

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