Seo Byung-ki, New CEO of IBK Investment & Securities, "Will Achieve KRW 1 Trillion in Equity Capital"

[Asia Economy Reporter Eunmo Koo] Seobyungki, the new CEO of IBK Investment & Securities (photo), promised to solidify his position as a leader in the capital market growing alongside small and medium-sized enterprises (SMEs) by achieving KRW 1 trillion in equity capital during his term.

In his inauguration speech on the morning of the 30th, CEO Seo announced that he would focus on ▲ strengthening the position as a securities firm growing with SMEs ▲ creating synergy within the IBK Financial Group ▲ advancing asset management sales ▲ expanding capital strength for sustainable growth.

First, he stated that he would pursue capital expansion for sustainable growth. CEO Seo said, “As the function of the capital market shifts from simple brokerage to investment banking (IB), and with the strengthening of various regulations such as real estate restrictions, financial investment companies are accelerating efforts to expand capital to focus on high-profit businesses. IBK Investment & Securities urgently needs to secure available resources to expand high-profit businesses while maintaining soundness indicators and support SMEs.” He emphasized, “Not only will we expand profitability internally, but we will also mobilize all possible methods, including capital increases, to definitely achieve KRW 1 trillion in equity capital during my term.”

He also pledged to solidify the position as a leader in the capital market growing together with SMEs. CEO Seo said, “We will enhance competitiveness in existing business sectors such as investment banking (IB) and private equity (PE), and promote entry into new businesses such as business development companies (BDC), faithfully playing a role that combines the social value pursued by policy finance with capital market efficiency.”

Furthermore, as a member of the IBK Financial Group, he promised to create mutual ‘win-win’ synergies. He stated, “The affiliate network, including the parent company IBK Industrial Bank of Korea, is IBK Investment & Securities’ greatest asset and competitive advantage. However, we must remember that only when our capabilities as capital market experts are supported can we maximize the strengths of the financial group network and create mutually beneficial synergies.”

Lastly, he promised to establish systems and processes to advance asset management sales. CEO Seo said, “Even after the financial market shock caused by the spread of COVID-19 subsides, economic slowdown and a prolonged low-interest-rate environment will continue, making customers’ asset management needs more diverse and sophisticated. We will build systematic systems and processes to accurately understand customer needs and provide suitable financial products, and encourage and actively support employees to develop their expertise as professionals.”