KIC President Choi Hee-nam: "Mutual Cooperation Between Government and Private Sector Needed to Strengthen Financial Competitiveness"

Published 05 Nov.2020 11:08(KST)

[Asia Economy Reporter Minji Lee] Choi Hee-nam, President of Korea Investment Corporation (KIC), expressed his ambition to do his best in his role as Financial Cooperation Ambassador to ensure mutual cooperation between the government and the private sector to strengthen financial competitiveness.

KIC President Choi Hee-nam: "Mutual Cooperation Between Government and Private Sector Needed to Strengthen Financial Competitiveness"

On the 5th, President Choi attended the '2020 Seoul International Finance Conference (SIFIC)' held at the Conrad Hotel in Yeouido, Seoul, and stated, "Strengthening financial competitiveness stems from having experience and trust based on talent and networks, along with an appropriate scale," adding, "We must enhance the global competitiveness of domestic financial institutions to transform Seoul into a financial hub."

To this end, President Choi emphasized that mutual cooperation between the government and the private sector is absolutely essential for strengthening the financial industry. He forecasted that in the financial market order newly reorganized after the U.S. presidential election, supporting the government's prompt response with high-quality information and advice is an urgent task. He also said, "I will actively work to strengthen overall financial competitiveness, including attracting foreign financial companies, by utilizing human networks and expertise."

He also indicated his intention to develop the financial industry by leveraging KIC's network. President Choi explained, "KIC has established an extensive global network with leading global asset managers, sovereign wealth funds, and pension funds," and added, "We will discuss various ways to develop the financial industry together with financial and diplomatic authorities such as the Ministry of Economy and Finance and the Financial Services Commission by utilizing KIC's financial network."

Appointed as Financial Cooperation Ambassador on the 3rd, President Choi is tasked with representing South Korea's position in government financial diplomacy activities. He is an expert in international finance and macroeconomics, having served as Executive Director at the World Bank (WB) and International Monetary Fund (IMF), as well as Director General for International Economic Affairs at the Ministry of Economy and Finance. He has been serving as KIC President since March 2018.