Jung In-young CEO "Strengthening Overseas Competitiveness of Domestic Companies"
Lee Hye-min CEO "Focusing on Skinship through Communication Council"
Lee Geun-joo Director "Expanding Industry Scope through Startup Induction"
From the left, Jeong In-young, CEO of December & Company Asset Management; Lee Hye-min, CEO of Finda; Lee Geun-joo, President of Korea Simple Payment Promotion Agency (in order of symbols)
[Asia Economy Reporter Kiho Sung] The election for the 4th president of the Korea Fintech Industry Association is gaining momentum. The confirmed candidates?Jung In-young, CEO of December & Company Asset Management; Lee Hye-min, CEO of Finda; and Lee Geun-joo, Director of the Korea Easy Payment Promotion Agency (in order of candidate number)?recently emphasized their commitment to resolving regulatory issues and strengthening communication with financial authorities and existing financial institutions. They also expressed their ambition to expand the influence of the fintech industry and lead national development.
According to the financial sector on the 22nd, the Fintech Industry Association confirmed and announced the three candidates who declared their intention to run for the next president on the 19th. Accordingly, the official election campaign began on the same day.
With the official election campaign underway, each candidate is focusing on presenting their vision and direction. CEO Jung stated that he plans to increase opportunities for communication among member companies and actively propose solutions to regulatory gaps to the National Assembly and government. He also pledged to strengthen the global competitiveness of domestic fintech companies.
CEO Jung said, "I believe the core of fintech lies in the 'advancement of finance through vibrant startups.'" He added, "As the first task, I plan to reorganize the fintech industry's big agenda around 'vibrant startups' and study overseas cases to identify regulatory gaps between domestic and international fintech sectors." December & Company Asset Management holds various licenses, including investment advisory, discretionary investment management, electronic financial business, foreign exchange handling, and MyData business. Given CEO Jung’s high level of understanding of technology, he is expected to voice expert opinions on technical issues in the fintech industry, such as network separation regulations.
CEO Lee Hye-min pledged to focus more on communication with financial authorities by gathering the voices of the fintech industry. She plans to form a consultative body to hold regular meetings with the government and existing financial institutions.
CEO Lee said, "Just as Finda’s business model is a platform, I decided to run because I believe I can serve as a communication bridge among financial institutions, fintech companies, and government agencies." She expressed her ambition, saying, "If elected, I will form a purpose-driven communication consultative body among member companies of various business types to maintain close skinship and create a communication platform with relevant government authorities and financial institutions." Finda provides loan comparison services and MyData services, which are the most common services in the fintech industry, so it is expected to broadly represent industry opinions.
Director Lee Geun-joo stated that he will prioritize resolving long-standing issues in the fintech industry, such as amendments to the Electronic Financial Transactions Act and network separation regulations. He also plans to revitalize the fintech ecosystem itself through communication among member companies, expanding membership, and promoting startups.
Director Lee said, "Due to recent regulatory issues and other factors, the barriers to startups have become higher than before." He added, "I will lower these barriers to encourage startup activation and promote various supports for startups to become self-reliant, developing the fintech industry into a sector that leads the nation’s future innovation." Director Lee is the only candidate with a background in the financial industry, having worked at IBK Industrial Bank. Because of this, his communication skills with existing financial institutions are highly anticipated. Additionally, he served as the preparatory director and secretary-general during the establishment of the Fintech Association, giving him a deep understanding of the industry and excellent networking with existing member companies.
The next president will be elected through a vote by member companies at the regular general meeting scheduled for February 17. The term of office is two years. Vice presidents, directors, auditors, and other executives of the 4th board of directors will also be elected.
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