The Korea Financial Investment Association is working on a long-term strategy for the sustainable growth of the capital market.
On August 24, the association announced that it has held a total of four regular forums since May, discussing key issues in the capital market through the 'K-Capital Market Forum,' which was launched in April.
The K-Capital Market Forum was established to identify core issues with experts from various sectors of the capital market and to develop a long-term roadmap and strategy for the next decade.
During the first forum, participants discussed expanding the role of the Individual Savings Account (ISA) under the theme 'Enhancing National Asset Formation and Expanding Participation in the Capital Market.' As the ISA marks its 10th anniversary this year, there were suggestions for a comprehensive long-term design to elevate it as a national asset management platform, supporting wealth accumulation and retirement preparation.
The second forum focused on 'Customized Life Asset Management and Supporting Intergenerational Wealth Transfer,' discussing ways to activate the trust system. Participants emphasized the need to enhance public access to trusts and strengthen asset transfer and social guardianship functions, particularly in the context of wealth transfer and comprehensive asset management in an aging society.
The third forum addressed 'Ensuring Retirement Income for Citizens in an Aging Society and Building a Robust Pension Safety Net,' focusing on improving the retirement pension system. Suggestions included promoting long-term and diversified investments for sustainable pension management and harmonizing the growth of contract-based and fund-based systems. The need for strengthening the default option system and providing pension education for citizens was also discussed.
The fourth forum centered on 'Restoring Trust in the Capital Market through Shareholder Rights Protection and Enhancing Corporate Value,' discussing ways to strengthen shareholder rights and corporate competitiveness. The necessity of holding general meetings in a decentralized manner was raised, along with calls for practical implementation of stewardship codes and the establishment of systems to protect minority shareholders and address investor grievances.
The K-Capital Market Forum plans to continue discussions on topics such as digital finance, productive finance, modernization of capital market infrastructure, and enhancing global financial competitiveness. The discussions will be compiled into a policy report to be submitted to the government and the National Assembly in the first half of next year.
Hwang Seong-yeop, Chairman of the Korea Financial Investment Association and K-Capital Market Forum, stated, 'The K-Capital Market Forum is discussing the role of the financial investment industry in restoring trust in the capital market, managing citizens' assets, and ensuring retirement income. We aim to proactively prepare future strategies to ensure that the development of the K-Capital Market contributes to the lives of the people and the national economy.'
* This article has been translated by AI.
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