Former SK Securities CEO Lee Hyunseung Announces Candidacy for Financial Investment Association President

Tailored and Immediate Communication for Member Growth and Value Enhancement
A True Advocate for Regulatory Innovation and a Partner in Problem-Solving
Revitalizing the Capital Market to Overcome Korea’s Aging and Low Growth Economy

Lee Hyunseung, former CEO of SK Securities, has officially announced his candidacy for the 7th presidency of the Korea Financial Investment Association.

Lee began his career in public service after passing the 32nd National Civil Service Exam, starting at the Ministry of Finance and Economy. After completing his government service, he served as CEO for 16 years at various securities and asset management firms, including Merrill Lynch Securities, SK Securities, Koramco Asset Management, and KB Asset Management. He is recognized for his rare experience spanning both the public and private sectors, securities and asset management companies, large and small firms, as well as foreign and domestic enterprises. He has been regarded as a suitable candidate who can represent the interests of various industry sectors and achieve regulatory innovation through communication with policymakers.

In his statement of candidacy, Lee Hyunseung said, "In short, the reason for the existence of the Korea Financial Investment Association lies in the growth and value enhancement of its member companies," adding, "Through tailored communication, I will identify the needs and difficulties of our members and, by providing 'immediate communication,' become a reliable partner and true representative who seeks prompt solutions together with them."

He plans to actively promote the swift introduction of comprehensive financial investment business operators and Integrated Managed Accounts (IMA), which are long-cherished goals of large securities firms; improve the Net Capital Ratio (NCR) regulations for small and mid-sized securities firms; and reduce costs for small and mid-sized securities firms, asset management companies, trust companies, and futures companies.

Having published "Aging Korea" in 2003 and warning of the current crises of aging and low growth more than 20 years ago, Lee became convinced through his subsequent work in the capital market that revitalizing the capital market is the solution to these challenges. This conviction led him to run for the association presidency.

His proposed plan for capital market revitalization includes improving the rigid regulatory environment, expanding the scope of separate taxation on dividend income, and measures to boost the digital asset market.

For improving the rigid regulatory environment, he has drawn up plans to reform unreasonable practices and systems based on the voices from the field that he has heard through meetings with industry CEOs. He has prioritized abolishing unreasonable linked sanctions, which make it difficult for financial companies to enter new businesses due to unrelated sanction histories, and boldly eliminating regulations that do not meet global standards, in order to foster a competitive capital market ecosystem.

He also identified the lack of consistency between ministries as an issue that needs to be addressed. A representative example is that securities firms participating in the Ministry of Economy and Finance’s efforts to vitalize the government bond market now face massive fines from the Fair Trade Commission due to its collusion investigation into government bond primary dealers. In addition, he plans to enhance the effectiveness of the default option system to improve the returns of the 500 trillion won retirement pension market, ultimately ensuring a stable retirement for the public.

Regarding the expansion of separate taxation on dividend income, he is working on extending the scope from stocks to funds, lowering the separate tax rate to a level where the benefits of dividends can be felt, and specifically applying the long-term holding special deduction, currently available only in the real estate market, to small shareholders.

In terms of boosting the digital asset market, he called for the swift introduction of innovative financial products such as security tokens (STO), spot ETFs for virtual assets, and stablecoins, so that the financial investment industry, which already has robust IT infrastructure and consumer protection systems, can secure leadership in the digital asset market.

Lee stated, "Through capital market revitalization, I will ensure that the profits people earn from the capital market become their 'second salary account.' In doing so, I aim to guarantee a stable retirement for the public, increase the returns of pension funds to ease the government's fiscal burden, and secure new growth engines through productive finance that facilitates capital raising for innovative companies."

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