Seobyunggi IBK Securities CEO "Overcoming Crisis Through Organizational Restructuring"

2023 New Year's Address

Seobyungki, CEO of IBK Investment & Securities

[Asia Economy Reporter Son Sun-hee] Seo Byung-ki, CEO of IBK Investment & Securities, said on the 2nd, "The securities industry is going through an especially difficult period, with fierce competition for survival among both large and small to mid-sized firms," adding, "To wisely overcome this period of upheaval, it is necessary to cultivate sustainable growth engines through organizational restructuring."

In his New Year's address, CEO Seo stated, "In 2023, we have set 'organizational restructuring and capacity enhancement for overcoming the crisis' as our management strategy goal." Reflecting on the past year, he said, "We experienced an unprecedentedly difficult market environment due to the ongoing complex financial crisis and liquidity crunch, making it a very challenging year." He added a concerned outlook, saying, "Major domestic and international institutions forecast that the global economic growth rate will fall to around 1% in 2023, and the low-growth trend in an era of high inflation and high interest rates is expected to be prolonged."

CEO Seo emphasized, "To build crisis response capabilities and a sound management environment, proper risk management and effective post-management are necessary," adding, "Risk management is not just about avoiding risks; proper risk management and the essence of financial investment business lie in accurately understanding, analyzing, structuring, and commercializing risks." He further urged, "We will focus on effective post-management through proactive positioning and project management ahead of others, and strengthen internal controls to prevent incidents."

He also stated, "We must proactively respond to market changes to establish a foundation for growth and secure future growth engines through revenue diversification," and said, "We need to accurately analyze the risk-return of the assets we hold and optimize asset and business portfolios in the new environment." Additionally, emphasizing 'strengthening a customer- and performance-oriented organizational culture,' he added, "The company will spare no support for human resource development to enhance the expertise of our employees, which is the company's competitive edge."

CEO Seo said, "Although the current situation is tougher than ever, we must continue to unite our efforts to overcome difficulties as we have done so far," and added, "We have the experience and resilience of overcoming the challenging year of 2022 together, and relatively ample resources are reserved compared to competitors."

He encouraged, "2023 can be a year in which IBK Investment & Securities takes a significant step forward," and urged, "Let us start the new year with confidence and vigor."

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