[2021 Capital Investment Award] Korea Investment & Securities, Right Thinking and Right Action for Customers

Best Award in Financial Consumer Protection - Korea Investment & Securities

Jung Il-moon, CEO of Korea Investment & Securities, is being interviewed by Asia Economy on the 20th. / Photo by Moon Ho-nam munonam@

[Asia Economy Reporter Junho Hwang] Korea Investment & Securities won the Best Award in the Financial Consumer Protection category at the 2021 Asia Capital Investment Awards.

Korea Investment & Securities announced in June that it would fully compensate the principal for 10 distressed private equity fund products, and was awarded this prize in recognition of its achievement in completing all compensation work over the following two months.

Following this measure, which prioritized customer trust as the highest value, the company is also changing its corporate culture. All employees have pledged to practice ‘right thoughts and right actions toward customers’ and are continuing follow-up measures to prevent other potential cases of incomplete sales. The company has strengthened the functions and responsibilities of the Product Selection Committee and established a dedicated organization for post-management of investment products. It is also promoting innovation across sales practices through expanded training and audits for sales staff and restructuring related evaluation and compensation systems.

Having restored customer trust, Korea Investment & Securities recorded a cumulative net profit of 1.2043 trillion KRW in the third quarter of this year, setting a record high. Despite a one-time loss of approximately 60 billion KRW in provisions due to full compensation for distressed private equity funds in the second quarter, the company achieved excellent results with a 186.2% increase compared to the net profit of 420.8 billion KRW recorded up to the third quarter of last year.

President Ilmoon Jung said, "The value standards of the world are changing, and corporate social responsibility is being emphasized more than ever," adding, "Korea Investment & Securities will lead the development of the Korean capital market by looking at, thinking from, and acting solely from the customer's perspective."

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