Chairman Choi Hyun-man Appointed as Head of KCCI Financial Business Committee... "Need to Revitalize Venture Capital"

KCCI Elects 4th Chairman of Financial Business Committee

[Asia Economy Reporter Oh Hyung-gil] Choi Hyun-man, Chairman of Mirae Asset Securities, has been elected as the chairman of the Financial Industry Committee of the Korea Chamber of Commerce and Industry (KCCI).

On the 31st, KCCI announced that Chairman Choi was elected as the 4th chairman of the Financial Industry Committee. The Financial Industry Committee is one of the 13 committees under KCCI, established to represent the interests of Korean financial companies and promote networking.

Chairman Choi stated, "Digital finance is expanding into all areas of daily life through technologies such as big data, artificial intelligence, and blockchain, and with the emergence of new digital technologies and assets like the metaverse and NFTs, boundaries within the financial industry as well as between finance and other industries are being dismantled. As countries respond to global inflation with tightening measures, financial companies now face rapidly changing policy environments."

He further emphasized that to respond to these changes, the KCCI Financial Industry Committee must actively engage in improving financial regulations and contemplating the future direction of the financial industry.

To this end, the committee plans to strengthen communication with policy authorities and actively explore future agendas across various financial sectors including banking, insurance, securities, asset management, cards, capital, and fintech.

Chairman Choi highlighted, "To create an ecosystem led by innovative companies possessing new ideas and technological capabilities, the activation of venture capital is crucial. It is the role and responsibility of the financial sector to revitalize the capital market that supports this."

He pointed out that related institutional improvements and changes in public perception of financial companies are necessary so that financial firms can serve as a catalyst for innovation.

A KCCI official added, "Chairman Choi Hyun-man is firmly committed to making the KCCI Financial Industry Committee a focal point for exploring the direction and development plans of the financial industry. We will actively support this commitment through reinforcing new committee members, strengthening subcommittee activities, and expanding communication with government authorities."

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