[Smart Finance Awards] FSC "Expecting Innovative Services Like Fractional Stock Trading"

[Asia Economy Reporter Ji Yeon-jin] Hello, I am Kim Yong-jae, Standing Commissioner of the Financial Services Commission. I would like to extend my congratulations to all the awardees who have reached this stage today through relentless efforts over the past year.

Compared to last year, when a large amount of capital flowed into the securities market and asset prices rose significantly, this year seems to have been a difficult one for financial companies. Despite these challenges, the award ceremony feels even more meaningful today because companies have shown interest and effort to enable financial consumers to experience innovative services in a convenient environment.

In particular, the "Domestic Stock Fractional Trading Service" launched last month remains personally memorable as it was institutionalized through various review processes and consultations with the government. I hope this will serve as an opportunity for the industry and government to work closely together to create innovative services going forward.

However, on the other hand, damages related to system failures have been steadily increasing. According to related statistics, the business sector with the largest estimated damage amount due to system failures is the financial investment sector (26 billion KRW, 76%).

Finance is based on trust. I believe that a reliable system is as important as innovation, and I once again urge efforts to protect the essence of finance?trust?alongside innovation.

Thank you.

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