Seo Yuseok, Chairman of the Korea Financial Investment Association, Attends 2024 ICSA·ICMA Annual General Meeting

The Korea Financial Investment Association (KOFIA) announced that its chairman, Seo Yu-seok, will attend the 2024 International Council of Securities Associations (ICSA) and International Capital Market Association (ICMA) annual meetings held in Frankfurt, Germany, and Brussels, Belgium, from the 20th to the 24th.

ICSA is an international representative organization of the securities industry, consisting of 20 institutions from 17 countries including the United States, Japan, and France. Since its founding in 1989, it has played roles such as exchanging information among members, promoting mutual understanding, developing joint policies for the sound development of international capital markets, and representing industry opinions to international organizations.

KOFIA successfully hosted the ICSA annual meeting in Korea last June. It has experience hosting the ICSA annual meetings in 1997 and 2008, both during global financial crises. These events provided global insights into crisis response for the domestic financial investment industry and led to successful outcomes.

This year, for the first time, KOFIA will attend the ICMA annual meeting upon the invitation of Brian Pascoe, chairman of ICMA, the European capital market’s self-regulatory organization. Chairman Pascoe delivered the keynote speech at the ICSA international conference held by KOFIA last year for member companies and domestic market participants, emphasizing the importance of continuous collaboration with KOFIA and extending the invitation to attend.

ICMA was established in 2005 by merging the International Primary Market Association (IPMA) and the International Securities Market Association (ISMA) to enhance the efficiency of international capital markets and improve market trading practices. Since then, it has actively served as the self-regulatory organization for the European capital market. Currently, it has over 610 members including investment banks, securities firms, and asset management companies from about 67 countries worldwide.

At ICSA, participants will share the status of financial markets by country and review the impact of major political events such as presidential and general elections scheduled worldwide this year on financial markets. Discussions will also cover the effects of the shortened settlement cycle in the U.S. stock market and the direction of global financial markets.

Approximately 1,200 key figures from the global financial industry will attend the ICMA annual meeting, where various discussions will be held on topics such as changes in benchmark interest rates and exchange rates affecting the overall market situation. Major agendas will include efforts toward digitalization of the global bond market, central clearing and regulation, the future of sustainable finance, and preparedness for financial crises. Key speakers include Jean Paul Servais, chairman of the International Organization of Securities Commissions (IOSCO); Verena Ross, chair of the European Securities and Markets Authority (ESMA); and Val?rie Urbain, CEO of Euroclear.

Seo Yu-seok, chairman of the Korea Financial Investment Association, emphasized, “By attending this year’s ICSA and ICMA annual meetings, I plan to directly explain to overseas stakeholders Korea’s ’Korea Discount‘ resolution efforts and value-up policies and programs aimed at upgrading the capital market.”