[Smart Finance Awards] Financial Supervisory Service: "Must Establish Position as Global Player Through IT Innovation"

Congratulatory Address by Ham Yong-il, Deputy Governor of the Financial Supervisory Service

Ham Yong-il, Deputy Governor of the Financial Supervisory Service, is delivering a congratulatory speech at the '2022 Asia Smart Finance Awards Ceremony' held on the 25th at the Press Center in Jung-gu, Seoul. Photo by Kang Jin-hyung aymsdream@

Hello, I am Ham Yong-il, Deputy Governor of the Financial Supervisory Service. First, I sincerely congratulate you on the hosting of the '2024 Asia Smart Finance Awards' ceremony, and I would like to express my gratitude to CEO Woo Byung-hyun of Asia Economy and all the related parties for organizing such a meaningful event. I also extend my heartfelt congratulations to the securities firms who are the stars of today and the recipients of these honors.

Last year was a turbulent year for the financial market due to geopolitical risks, high inflation, and high interest rates. Despite these challenging conditions, I pay tribute to the efforts of the securities firms who worked hard to create a smart financial environment.

The securities industry has undergone dynamic changes since the COVID-19 outbreak in 2019. The trading volume of domestic stocks by individual investors more than doubled from 1,482 trillion won at the end of 2019 to 3,271 trillion won, and the number of individual investors increased from 6.12 million to 14.03 million. It is important to note that among them, the number of investors in their 20s and 30s, so-called MZ investors, increased the most, from 1.45 million to 4.26 million.

This is because the domestic capital market has been recognized by individual investors as a major means of asset accumulation, and behind this is the effort of securities firms to enhance investment convenience based on MTS by understanding the needs of young investors who prioritize convenience.

This year, the government declared an 'All-Out National Effort for Artificial Intelligence (AI)' and plans to provide full support for South Korea to grow into an AI powerhouse. I believe that the securities industry, which has quickly adapted to changing trends, will make a great leap forward again through innovation using artificial intelligence. Furthermore, I expect securities firms not only to pursue changes within the securities industry but also to take the lead in supplying venture capital so that AI can be integrated into all industrial sectors.

Following last year, this year’s domestic and international financial environment is exposed to various risk factors. In response, the Financial Supervisory Service will actively discuss the direction the capital market should take with securities firms and listen more closely to the voices of market participants.

This year, author Han Kang received the Nobel Prize in Literature, opening a new chapter for Korean literature. I believe this is a great achievement that globally recognizes South Korea’s soft power. In the financial industry as well, I hope that based on abundant and excellent human resources and outstanding IT technological innovation, it will establish itself as a global player.

Once again, I sincerely congratulate all the awardees today and wish for the continued development of the 'Asia Smart Finance Awards.' Thank you.

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