IP & Art

In recent years, it was emphasized that some domestic financial institutions have achieved remarkable outcome, and at the same time they showed strong confidence in the international competitiveness of domestic financial institutions.

In the case of KDB, 13 overseas branches finally achieved a net profit of 100 million dollars in 2016. Of course, the London branch also reported a short-term net profit of nearly $20 billion. I had criticized the backwardness of Korea's international finance and has always been exposed to negative stories about international finance in general, it was so shocking that I had no choice but to ask a question.

There is no doubt that it is a very encouraging phenomenon as it has achieved remarkable and historically significant achievements in the international finance sector, which has been considered only to be underdeveloped. There have been many learning effects through suffering from the foreign exchange crisis, and it seems that the conditions have been created for Korea to stand shoulder to shoulder with advanced financial countries. However, it has been approached conservatively and cautiously because of the painful wounds, but it seems that the time has come to overcome the feeling of helplessness.

Local financiers also acquired remarkable know-how in risk management as Korea experienced the foreign exchange crisis. Now, it was explained that now that it has become quite advanced, Korean financial institutions now have a lot of international competitiveness. However, despite securing international competitiveness in international finance, it was felt that the passive attitude and attitude still needed to be improved.

In the case of IBK in London, it is said that it achieved a phenomenal short-term pre-tax operating profit of nearly $20 billion in 2016. It is said that everyone is paying attention to the fact that it has created a new model for local business while properly managing risk by mobilizing various risk management techniques for local companies. Commercial banks also considered it necessary to expand international finance.

It is necessary to turn to overseas markets and pay particular attention to the European market as the domestic financial conditions are saturated. Also it was emphasized the need to revitalize more active international financial affairs since the non-regulatory situation favorable to financial institutions in London is favorable in terms of financial operations and risk management of domestic financial institutions. It is now time to change the view of the international financial market towards not only Southeast Asia, but also the EU to a more positive one.

I have shared the same opinion with other Korean asset management companies I had contacted with, so there were a lot of parts that I agreed with. Perhaps it was an important time and a fruitful discussion forum to remind us that international finance can be an important part of our country's future growth. After meeting and listening to the stories of those who achieved tangible results as leaders in international finance even under difficult circumstances, I felt proud that I too had found the foundation for Copernican innovation in international finance.

As one of the world's top ten economic country, it was clear that it was a time for Korea to stop tabooing international finance. In that respect, I thought that the legal field would be also in a process of finding answers abroad. I hope to lead international finance with a forward-looking attitude through government-wide support. I look forward to having a more positive and enterprise- friendly approach from a negative perspective in the underdeveloped international financial sector.

My visit to London, exploring new markets under difficult conditions, and meeting international financiers working in the local area with confidence and confidence, I was stimulated to establish myself as an expert in international law. It was a valuable time to share more optimistic outlook for the future of the international finance fields.