[Smart Finance Awards] FSC: "Securities Firms' Digitalization Contributes to Economic Growth... Preparedness for System Failures"

"This Award Ceremony Is a Valuable Opportunity to Take Our Financial Industry to the Next Level"

[Asia Economy Reporter Ji Yeon-jin] Hello, I am Ham Yong-il, Deputy Governor of the Financial Supervisory Service. First, I sincerely congratulate the holding of the '2022 Asia Smart Finance Awards' ceremony, now in its twelfth year.

I would also like to express my gratitude to CEO Woo Byung-hyun of Asia Economy for organizing this meaningful event, as well as to the distinguished guests who have honored us with their presence. Above all, I sincerely congratulate the securities firms who are the protagonists of today’s event and the recipients of the awards. I hope this ceremony, which encourages the hard work of securities firms striving to create a smarter financial environment, will serve as a valuable opportunity to advance our financial industry to the next level.

Recently, our financial industry has been undergoing a process of ‘financial digitalization,’ characterized by platformization and non-face-to-face services. Especially during the prolonged period of non-face-to-face daily life amid the COVID-19 pandemic, I believe the accelerated digital transformation strategies of securities firms’ operations have contributed to maintaining economic vitality and continuous economic growth.

Thanks to the efforts of those involved in the securities industry, this innovative smart financial environment is being established, and it is expected that ‘financial digitalization’ based on differentiated financial techniques and IT technologies will accelerate even further.

I believe that the 2022 Asia Smart Finance Awards held today is a meaningful occasion to encourage the tireless efforts of securities industry workers preparing for the digital era.

However, there are some concerns regarding the financial digitalization of the securities industry. As seen in recent platform suspension incidents, it is necessary to be fully prepared for the possibility of HTS and MTS system failures.

Additionally, with the popularization of investment due to financial digitalization, an increase in investors with limited investment experience is expected. Therefore, alongside creating an innovative financial environment, I urge you to pay close attention to investor protection as well.

I hope this event will become another lever for the development of the financial industry, and once again, I sincerely congratulate all the awardees. I wish good health and happiness to everyone present today, and the continued success of the 2022 Asia Smart Finance Awards.

Thank you.

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