[2026 Asia Fund Awards] FSS Says "Expand the Scope Through Venture Capital Investment... Fiduciary Duty Must Be Enhanced"

Congratulatory Remarks by Hwang Seono, Deputy Governor of the Financial Supervisory Service

Hwang Seono, Deputy Governor of the Financial Supervisory Service. Photo by Kim Hyunmin

First of all, I would like to sincerely congratulate you on hosting the 17th Asia Fund Awards ceremony, and I would like to express my gratitude to CEO Jang Beomsik of The Asia Business Daily and all those involved for organizing this meaningful event. I also extend my congratulations to all the executives and employees of financial institutions who have been honored with awards today.

Over the past year, despite the continued high volatility caused by external uncertainties such as global trade disputes and a strong won-dollar exchange rate, I give great applause to your efforts and passion for the sound development of the fund industry.

In the domestic fund industry alone, nearly 170 trillion won of capital flowed in over the past year, bringing assets under management to more than 1,280 trillion won (1,283.2 trillion won as of the end of 2025), and the number of asset management companies has reached 508, achieving continued growth.

In 2026, I hope that asset management companies will expand the scope of the asset management industry by investing in exemplary capital such as venture and innovative companies with high growth potential, in line with the shift toward productive finance. I also look forward to you leading the advancement of the domestic capital market by devoting yourselves to building differentiated management capabilities and a robust investor protection framework, thereby meeting investors' heightened expectations resulting from the rise in domestic stock indices.

The Financial Supervisory Service will also continue to improve the environment so that diverse and innovative products can be launched smoothly and investors can fully understand product structures and key risks before investing. In addition, we will actively support the asset management industry in taking a leap forward by enhancing fiduciary duty, which prioritizes investors' interests in the exercise of voting rights and throughout the investment process by institutional investors such as asset management companies, so that shareholder rights protection can take firm root in the domestic capital market.

To all award recipients and financial professionals here today, Jeff Bezos, founder of Amazon in the United States, which recently became the world's largest company by revenue, once said, "If you are competitor-focused, you have to wait until there is a competitor doing something. Being customer-focused allows you to be more pioneering."

I would like to ask the domestic asset management industry to internalize the principle of prioritizing investors' interests and to continue striving to generate stable returns from a long-term perspective.

In closing, I once again congratulate all those who have been honored with awards today, and I wish for the everlasting development of the Asia Fund Awards. Thank you.

Hwang Seono, Deputy Governor of the Financial Supervisory Service