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Shared Vision Boosts Woori Investment

By Yoon Ja-young Staff Reporter Woori Investment & Securities CEO and President Hwang Sung-ho believes that the management and the employees should share the same vision to march together toward one direction. That's why Hwang, who is known for spending much time to listen to employees whenever he has chances, emphasizes open management based on communication. He believes that all decision making process should be transparent, and has been making efforts to set up open corporate culture built upon trust and respect to each other. Hwang says that the most crucial part of securities business is human. That's what CEOs of most other securities companies would agree, but Hwang's perspective is slightly different. Hwang says he prefers companies that can nurture their employees into ace players rather than the ones that are already equipped with the star players. "Dream" plays the crucial part here. He stresses that people won't sweat if they don't have dreams. The company should encourage employees to have dream, and the company should support and train them so that they ca

Mar 30, 2010

Woori Investment to Beef Up China’s Research Center

By Yoon Ja-young Staff Reporter Most Korean securities companies are still in the infant stage when it comes to globalization but Woori Investment & Securities is taking the lead in extending their business abroad thanks to strategic forays into overseas markets. Woori, one of the top three players in the local securities industry, has actively sought markets overseas under a mid-to-long term vision of becoming a leading investment bank in Asia. It has been setting up infrastructure to complete global networks, expanding regional retail and wholesale outlets. While most other local securities companies are engaged in M&A efforts in Southeast Asia or have just begun setting up branches and offices, Woori has completed such efforts. Now it is focused on stabilizing income sources from overseas networks it has already established. For example, Woori has already set up an HTS system in China and Hong Kong, and has already shifted its focus to stabilizing income sources there. It is also making efforts in on- and off-line brokerage in Southeast Asia, to aggressively adv

Mar 30, 2010
  • Shared Vision Boosts Woori Investment

Creativity Makes Daewoo Cadets CEOs

By Yoon Ja-young Staff Reporter Daewoo Securities is known as a ``securities academy'' in the industry. Many CEOs in the industry once worked at Daewoo, which has led the industry during the past decades. Daewoo owes the fame to systematic training, which turns its employees into professionals coveted by not only other securities companies but also asset management firms and other financial businesses that demand strong research skills. Hence, not only current Daewoo executives and employees but also former Daewoo people, who are taking leading roles in other companies of the industry, are proud that Daewoo was a part of their career history. Daewoo Securities CEO Im Kee-young believes that achievement comes from creative atmosphere. The securities industry in general is known for its conservative and somewhat bureaucratic atmosphere but this isn't the case with Daewoo Securities. Daewoo is known as a free and humane organization, where its people feel comfortable communicating with each other and cooperating. For example, it adopted a casual day for each Friday, wher

Mar 30, 2010

Daewoo Securities Sets Trend in Investment Banking

By Yoon Ja-young Staff Reporter Since its establishment in 1970, Daewoo Securities has led the securities industry here. Especially strong in retail and research, Daewoo marked 257.8 billion won in operating profit in the third quarter last year, the biggest in the industry despite the global crisis. Analysts pick Daewoo as the strongest candidate to become a global investment bank (IB) here. It led mega deals like the listing of Tong Yang Life Insurance, the first life insurer to get listed here, and the IPO of Korea Life Insurance, one of the biggest fish in the listing market this year. Daewoo also led the capital increase of Hynix, the BW issuance of STX Offshore & Shipbuilding, and the IPO of Dongah Geological Engineering, and was selected as the lead manager of the IPO of Incheon International Airport Corporation. Daewoo is leading the IPO of 10 businesses overseas that plan to list on the Seoul bourse. As foreign businesses are increasingly interested in IPOs in Seoul, Daewoo could make use of this experience as a launch pad to be a total IB service provider, incl

Mar 30, 2010
  • Creativity Makes Daewoo Cadets CEOs

People-First Management Key to Sustainable Growth

By Lee Hyo-sik Staff Reporter Pundits say that the financial industry is all about people, meaning securing the talented and competent workforce is a must for a company to succeed in the highly competitive business sector. Hana Daetoo Securities CEO Kim Ji-wan stands out, among many leaders of domestic financial firms, in abiding by this ``people-first-management'' principle. He often stresses that highly-talented employees are the core asset of financial organizations and leaders should place top priority on creating an environment where workers reach their full potential. ``The best way to boost corporate competiveness is to improve each employee's competence. We are providing workers with a range of educational and training opportunities at home and abroad. In particular, the company is helping them obtain various licenses in the financial sector,'' Kim said. Under a slogan ``a sound mind in a sound body,'' the CEO also encourages workers to exercise as much as possible. ``The company is organizing mountain climbing and other occasions in which employees can work

Mar 30, 2010

Hana Daetoo Gets Respect as Trustworthy Wealth Manager

By Lee Hyo-sik Staff Reporter Hana Daetoo Securities is seeking to emerge as the nation's top wealth manager by providing brokerage trading, asset management and investment banking-related services. In order to cope with rapidly changing financial market conditions and consumer needs, the securities firm is undergoing a drastic overhaul to transform its organizational structure into a more client-oriented and agile financial services provider. ``We have and will continue to do our best to offer a wide range of financial products and services to satisfy increasingly sophisticated customer needs amid the rapidly changing market environment after the Capital Market Consolidation Act went into effect in early 2009. To do so, we will expand our sales networks to attract more retail and institutional investors, generate larger profits from equity trading businesses and diversify business portfolios,'' Hana Daetoo Securities CEO Kim Jin-wan said. The company is looking to retain its customers and attract new ones by bolstering investor protection and offering diverse asset man

Mar 30, 2010
  • People-First Management Key to Sustainable Growth

CEO Ryu Instills Happy Spirit Into Employees

By Lee Hyo-sik Staff Reporter Korea Investment & Securities CEO Ryu Sang-ho puts his top management priority on making employees, customers and shareholders happy, stressing it is only possible for the company to achieve the industry's best performance after creating a virtuous circle of happiness among its stakeholders. ``My motto is that everybody I work with has to be happy. Only then, we can become an industry leader. We offer best treatments to our best employees for their best performance,'' Ryu said. He took the helm of the securities firm in early 2007 at the age of 47 ― the youngest-ever chief executive in major brokerage houses here. His leadership style is far from autocratic and that he always tries to hear broadly before making any decision, a company executive said. Ryu is known to delegate large parts of decision-making to employees, making him a people-oriented CEO. He also places his management focus on maximizing customer value in accordance with the company corporate identity (CI), ``True Friend.'' ``It means we are a true friend to all our custom

Mar 30, 2010

Korea Investment Goes Hybrid in Global Marketing

By Lee Hyo-sik Staff Reporter Korea Investment & Securities, one of the nation's leading brokerage houses, is seeking to solidify its dominant market position here and expand overseas presence to emerge as one of Asia's top five investment banks by 2014. It aims to increase the size of assets it manages to 100 trillion won and achieve one trillion won net profit by making the best use of its hybrid business model combining both investment banking and asset management. By making inroads into foreign markets to secure new customers and sources of new income, the securities firm plans to double the size of its assets under management (AUM) and net profit to 200 trillion won and two trillion won by 2020. ``We suffered a temporary setback in the aftermath of the global financial crisis. But we have quickly recovered our strength over the past few quarters and become one of the most profitable financial services companies. We will make more effort to better serve our customers by generating sustainable investment returns for them,'' company CEO Ryu Sang-ho said. The CEO sa

Mar 30, 2010
  • CEO Ryu Instills Happy Spirit Into Employees

Local Brokerage Houses Embrace Global Business Culture

By Cho Jin-seo Staff Reporter It seems that the spring has come to the financial market first. Cho In-kang, the director general of the Financial Services Commission's Capital Markets Bureau, looked pleased when he came to the podium for a press briefing on March 24. As a man whose job is to take care of South Korea's capital market, the contentment appearing on his face was understandable. ``There were a number of global risks that threatened the domestic capital market until February, but it has gotten better in March,'' he said. What he meant was that there had been a net inflow of 3.8 trillion won ($3.3 billion) into the Korean stock market from overseas between March 1 and March 22 ― or 36 trillion won ($31.7 billion) since January 2009. As a result, the KOSPI has risen to around 1,700 from below 1,000 at the peak of the crisis. Some analysts believe it will breach the 2,000 mark within this year, if it is included in the MSCI Developed Markets Index ― possibly as early as June. That would be great for local securities firms. Brokerage commissions still account f

Mar 30, 2010

Uneven Recovery Expected in Stock Markets Worldwide

This is the sixth in a 12-part series of “The Korea Times ― the Boston Consulting Group (BCG) Joint Project” designed to identify new realities in the post-crisis world and provide winning strategies for leading Korean firms in 11 key industries. In cooperation with BCG, The Korea Times will look into a wide variety of issues both in the global economy and major industries. ― ED. By Cho Jin-seo Staff Reporter Remember how bad the stock market was only a year ago? On March 6, 2009, the Dow Jones index was at 6626.94. Now, it is back in the 10,000-11,000 range after rebounding 65 percent. The same story goes for the British FTSE 100 index, which has risen by 60 percent over the past 12 months. In emerging markets, the rebound is even stronger. The MSCI Emerging Markets Index has almost doubled over the past year. Now it is only a quarter below its record-high of 2007. Being back to normal, however, also means that there is little room for spectacular growth anymore as was seen last year. Instead, what the global capital market players are facing is the era of the `

Mar 30, 2010
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