Hwang Sungyeop, New KFIA Chairman: "Will Lead Major Capital Market Transformation Based on Trust"

Hwang Sungyeop, the 7th Chairman of the Korea Financial Investment Association, officially took office on January 3, declaring, "I will lead a major transformation of the financial sector centered on the capital market, based on trust."

Chairman Hwang made it clear that he intends to redefine the association not as a simple channel for communicating interests, but as a "problem-solving platform," and expressed his vision to present a blueprint for the K-capital market looking ahead to the next 10 years.

In his inaugural address, Chairman Hwang emphasized the transformation of the association's function. He stated, "We will not be an association that merely communicates problems, but one where problems are solved. We will become not just a messenger, but the engine of solutions." He pledged, "We will create a structure where the inconveniences of member firms are resolved first, and establish a regulatory philosophy that boldly removes minor regulations while thoroughly managing major risks."

He also expressed a sense of crisis regarding the rapidly changing global environment. Chairman Hwang pointed out, "The way questions are set, the way answers are graded, and even the competitors have all changed, yet we are still running at 60 km/h. Japan, once considered conservative, is already running at 100 km/h." He explained that he would discuss the "10-year blueprint for the K-capital market" with association staff and industry experts to find a way forward.

Chairman Hwang said, "I will take 'Without trust, one cannot stand' (Yi Sin Bul Lip) as the starting point of my leadership," and added, "As a 'Connecting CEO' who links people, the industry, and the future, I will lead the association." He presented trust, attentive listening, and communication as the core principles for operating the association, and emphasized the importance of building long-term consensus with the National Assembly, government, and media.

Having served at Shin Young Securities for 38 years and 9 months, Chairman Hwang remarked, "I never imagined I would become the chairman of the Korea Financial Investment Association," and explained, "The reason I stepped down from my position as a private-sector CEO before my term ended and chose this path is because of my sense of responsibility for the capital market in this era."

He added that the suggestions and concerns he heard directly from member company representatives after announcing his candidacy would become important assets for the association's future operations.

Chairman Hwang pointed out the "bank-centered financial structure" as a structural limitation of the Korean financial market, strongly asserting the need for a shift to a capital market-centered system.

He stated, "In an era of isolation, it is difficult for the Korean economy to move to the next stage with a bank-centered structure alone," and identified the redesign of the pension and capital market structure, the establishment of a long-term investment culture, and the inflow of non-productive liquidity into the capital market as key tasks.

He also reiterated the "fishbowl theory" he presented during the election process. Chairman Hwang said, "If the fishbowl is small, there will be conflict, but if it is large, we can grow together. The role of the association is not to divide up shares, but to increase the size of the entire market." To this end, he presented three main principles: strengthening the global competitiveness of large firms, expanding innovation participation by small and medium-sized firms, and designing a balanced system where no specific sector is marginalized.

Finally, Chairman Hwang emphasized, "The next 10 years will be a period when the financial investment industry complements the banking industry and establishes itself as an industry in its own right. The association has been given a historic mission, and over the next three years, I will devote all my experience and capabilities to accomplishing this task." He also officially requested the cooperation of member firms, the National Assembly, financial authorities, and the media.

Chairman Hwang concluded, "We are now in the same boat. The most frightening thing is fog that obscures the way ahead, but as long as our direction is clear, we can move forward." He ended his inaugural address by expressing his hope that his retirement ceremony three years later would also be remembered as another moving moment.