by Park Soyeon
Published 12 Apr.2022 09:07(KST)
Updated 25 Jul.2023 09:19(KST)
[Asia Economy Reporter Park So-yeon] PSX, which operates Seoul Geo-rae Bisangjang, an unlisted stock brokerage platform, announced on the 12th that it has recruited Kim Byung-jae, former Executive Director of the Korea Exchange, as a financial strategy advisor and is concretizing plans to promote an alternative exchange. This is a mid- to long-term strategy to add expertise and reliability to the process of establishing the alternative exchange.
Advisor Kim Byung-jae, who joined PSX, participated in the planning stage of the establishment of the KOSDAQ market and served as the head of the disclosure system team at the KOSDAQ Market Headquarters of the Korea Exchange and as an executive director of the KOSDAQ Market Headquarters. At that time, he was evaluated as a figure who played an innovative role in financing small and medium-sized venture companies in Korea by incorporating KOSDAQ into the Korea Exchange. At PSX, he is in charge of institutional research for the alternative exchange.
PSX established the 'Busan Alternative Trading System and Fintech Accelerating Center Preparation Corporation' in February and has been recruiting consortium participants. Currently, the business plan and operating model of the Busan Alternative Exchange are being concretized together with Boston Consulting Group, and KT is considering participating as a shareholder responsible for network and IT infrastructure business operations. In addition, the first capital payment of 'Hashed,' a blockchain technology specialized venture capital and an existing consortium participant, is expected to be completed in April.
PSX is concretizing a business plan so that the alternative exchange it is currently promoting not only has the effect of reducing fees but also plays a role in enhancing consumer welfare and accelerating new industries.
Kim Se-young, CEO of PSX, said, "I believe a capital market system that can support the sustainable growth of small and medium-sized venture companies is necessary," adding, "The alternative exchange promoted by PSX is specialized in fostering new industries, and we will further concretize the plan based on considerations to strengthen national competitiveness."
Meanwhile, Seoul Geo-rae Bisangjang, operated by PSX, was designated as an innovative financial service by the Financial Services Commission in April 2020. As a countermeasure following the recent announcement of the extension of innovative financial services by financial authorities, it is striving to create a sound unlisted stock market environment by strengthening investor protection measures and establishing a professional investor management office.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.