[Smart Finance Awards] Financial Supervisory Service: "Digitalization of Securities Industry Must Strengthen Investor Protection"

Hwang Sun-oh, Deputy Governor of the Financial Supervisory Service, "Ensure IT Failures Do Not Lead to Loss of Trust"

Hwang Seon-oh, Deputy Governor of the Financial Supervisory Service, is delivering a congratulatory speech at the '2023 Asia Smart Finance Awards Ceremony' held on the 26th at the Press Center in Jung-gu, Seoul. Photo by Hyunmin Kim kimhyun81@

Hello. I am Hwang Seon-oh, Deputy Governor of the Financial Supervisory Service. First, I sincerely congratulate the 2023 Asia Smart Finance Awards ceremony, now in its thirteenth year.

I would also like to express my gratitude to CEO Woo Byung-hyun of Asia Economy for inviting me to this meaningful event, and to the distinguished guests who have graced this occasion, including Lee Se-hoon, Secretary General of the Financial Services Commission, Kim Ki-kyung, Vice Chairman of the Korea Exchange, and many others.

I hope that today’s awards, which encourage the efforts of securities firms to create a newer and more convenient investment environment, will serve as a valuable opportunity to widely spread the innovative spirit within our securities industry.

Recently, ‘financial digitalization,’ characterized by platformization and non-face-to-face services, has been accelerating and expanding rapidly. In particular, our securities industry is closely integrating with Korea’s world-class IT technological capabilities to provide an even more convenient investment environment.

This ① offers investors groundbreaking opportunities beyond the constraints of time and place; ② serves as a chance for the securities industry to strengthen competitiveness while creating added value and expanding future growth engines such as digital finance infrastructure and professional workforce development; and ③ spreads these positive effects throughout the national economy.

Thanks to the hard work of those in the securities industry, an innovative smart financial environment is being established, and these positive effects are spreading throughout our capital market and securities industry. I would like to take this opportunity to express my deep gratitude.

However, even in the process of financial digitalization in the securities industry, building a stable investment environment and protecting investors must always be kept in mind.

As reliance on IT and computer systems increases day by day, we must carefully prepare so that HTS and MTS system failures do not lead to a loss of trust in the entire securities industry.

Also, under the convenient digital investment environment, the number of investors in their 20s and 30s has increased significantly, so I ask that you always pay attention to investor protection for those with limited investment experience.

I hope today’s event will be a meaningful occasion recognizing the efforts of the securities industry for innovation and development, and above all, I sincerely congratulate the securities firms who are the stars of this event and the recipients of these honors.

I wish health and happiness to everyone here today, and the continued success of the ‘2023 Asia Smart Finance Awards.’ Thank you.

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