[New Year's Message] Na Jae-cheol: "Capital Market Money Moves Continue... Will Support Smooth Asset Management"

"Will Propose Complete Improvement of Junior ISA System and Transaction Tax"

[Asia Economy Reporter Minji Lee] On the 3rd, Na Jae-cheol, Chairman of the Korea Financial Investment Association, stated in his New Year's address, "Last year, the KOSPI reached an all-time high, and the net asset size of funds surpassed 800 trillion won for the first time, indicating a continuous money move into the capital market," adding, "We will strive to establish asset management through financial investment as a national culture."

Chairman Na first mentioned plans to further expand the Individual Savings Account (ISA) system. He proposed the introduction of a Junior ISA system to benefit the younger generation and plans to support the stabilization of the default option system for retirement pensions. He also intends to ensure a complete improvement of the securities transaction tax, which currently has issues with double taxation. Chairman Na said, "We will continue discussions with the government and the National Assembly to improve these systems," and added, "We will also work with the government to comprehensively improve the relatively outdated trust system, including expanding trust assets and improving inheritance tax systems."

Efforts will be made to supply venture capital centered on the capital market. Chairman Na stated, "We will actively support the government and the National Assembly to ensure the rapid introduction of the Business Development Company (BDC) system, which is currently under legislation," and added, "We will improve the soundness regulation (NCR) related to corporate finance operations and rationalize regulations on new technology business finance, as well as increase tax benefits for high-yield funds investing in small and medium-sized enterprises."

He also pledged to take the lead in investor protection by strengthening risk management. He explained, "We will upgrade 'R2 Plus' to enhance its function and usability as a financial investment education platform and strengthen investor protection through proactive monitoring of private equity funds, equity-linked securities (ELS), and derivative-linked securities (DLS)."

Finally, Chairman Na expressed his aspirations, saying, "The recent speed of change across the economy and industry, especially the financial industry, is very rapid, making accurate prior judgment and direction setting even more important," and added, "Facing innovative changes in finance, the Korea Financial Investment Association will actively support the development of its member companies based on expertise to ensure that our financial investment industry grows in the right direction."

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