Jung Il-mun, president of Korea Investment & Securities, asked executives and employees to increase the company’s competitiveness through system improvements in all sectors.
In his New Year’s address on Jan. 3, President Jung emphasized transparency in risk management, digital innovation and decision-making processes.
“These three are the basis of sustainable growth and tasks that we should continue to focus on in the future,” Jung said.
“The best performances we have to pursue is to get ahead of our competitors with differentiated business results regardless of market conditions. The key is to secure an overwhelming advantage over our competitors by displaying greater courage and passions without being complacent of what we are now.” President Jung stressed the need to reorganize the company’s systems in all sectors this year.
“The reorganization begins with a strong understanding our shortcomings properly,” President Jung said.
“We need to abandon our old customs that were taken for granted and look at work processes and systems from their basics to improve and supplement them.” Jung did not forget to call for the active reorganization of related systems and roadmaps and solutions for future changes.
“In a fair organizational culture, people should be respected, but differentiated treatments and compensations should be given to them depending on their abilities and performances,” President Jung continued.
“Employees can change their organization when they become one and show creativity regardless of their ages.”
President Jung asked the Individual Customer Group to reorganize its online platform business system and draw a long-term roadmap.
“Korea Investment & Securities must reorganize its systems for customer responses, risk management, and employee evaluation amid fast changes in its business environment,” he said.
“I ask the Whole Sale Business Group to establish a profit-generating system that can optimally respond to market changes.”
A thorough risk management culture should be well established through system reorganizations in the IB, PF and operation sectors at Korea Investment & Securities, President Jung emphasized.
“We also need to have overwhelming competitiveness o that competitors cannot dare to catch up with us,” he said. “To this end, identify and remedy our company’s shortcomings with the mind of restarting our company from the scratch.”
In the headquarters management sector, President Jung wants employees to find problems that the entire company and each unit need to address. He wants them to produce systematic solutions, not stopgap measures.
“Please make efforts to improve our work process using digital technologies and systems,” Jung underscored. “Digital transformation and digital innovation can be great tools to solve problem facing us now.”
President Jung brought up the true competitiveness of Korea Investment & Securities. “Where is our true competitiveness?” he asked.
“I think each and every one of you is our company’s competitiveness. So I think an organization where everyone is respected and can work excitedly can secure the best competitiveness.”
Securities companies are bound to have different rewards depending on their ability and performance than companies in other industries, according to President Jung.
“Should members of an organization be criticized for their lack of ability and poor business performance? They may need advice to grow their ability or recover their business performances? Nevertheless, unless they fail to yield desired results, I think it is desirable to differentiate them with compensations and rewards.”
President Jung believes the first step in creating a fair organizational culture where people are respected and treatment differentiated depending on ability and performances is to listen carefully to what others say.
“This is because advice without listening to what others said may become a criticism or those who took the advice do not agree with those who gave the advice,” President Jung said.
“If we all carefully listen to what others say in 2022, Korea Investment & Securities’ competitiveness will grow even greater. I will also spend this year by listening to what you say so that you will be able to demonstrate your courage and passions.”
