IBK Securities CEO vows push for comprehensive investment firm status, SME focus

Choi Gwang-jin, the newly appointed CEO of IBK Securities, has laid out a plan to achieve comprehensive investment firm status and sharpen the company's competitive edge as a securities firm specializing in small and medium-sized enterprises, presenting "IBK Securities — growing together on the foundation of trust" as his new management vision.

In an inaugural address released July 2, Choi said he would build the company around the principle that "without trust, nothing can stand," citing four core values: universal trust, solid growth, structural innovation, and autonomy and accountability.

"The most important asset of a financial company is trust," he said. "We will strengthen customer-centered management and financial consumer protection, continuously upgrade our internal controls and risk management framework, and create a differentiated financial environment where customers can transact with confidence."

Choi also outlined a growth strategy aimed at achieving comprehensive investment firm status. "Balanced growth built on a stable earnings base matters more than simply expanding in scale," he said. "We will pursue balanced growth across all business divisions while building up capital to lay the groundwork for becoming a comprehensive investment firm."

He added that the firm would combine the IBK Financial Group's network with capital market expertise to expand group synergies, and would enhance its competitiveness through initial public offerings, acquisition financing, private equity funds supporting SME succession planning, and the IBKS Family Office service.

Choi said the firm would also deepen its role as a securities house specializing in SMEs. "We will continue to expand the supply of venture capital to small and medium-sized and venture companies, and strengthen the capital market's core role of supporting the growth of innovative businesses," he said. "We will establish ourselves as a trusted capital market partner, backed by the credibility of IBK as a policy finance institution."

Choi conveyed a sense of urgency about the competitive landscape. "I feel a pressing anxiety that if we are not properly prepared, we could fall behind in competition and find ourselves unable to catch up," he said. He noted that a "money move" — the migration of funds from deposits and real estate into the capital markets — was opening new growth opportunities for the securities industry, but was also deepening the divide between large and small firms. "Differentiated expertise and a genuine response to change are more important than anything," he said.

He also stressed the need for innovation to secure future growth engines. The firm would lead the government's push for productive finance, actively participate in support for innovative companies and infrastructure projects, and respond proactively to new digital financial developments such as security token offerings and stablecoins. "We will leverage AI across all operations to upgrade productivity and decision-making," he added.

On organizational culture, Choi said he intended to build a performance-driven management culture. "We will create a culture where we share goals rather than issue directives, and build results together on the basis of trust rather than control," he said. "We will establish a fair evaluation and compensation system where authority and accountability are aligned."

Choi, born in 1965, graduated from Busanjin High School and Korea University with a degree in economics before earning an MBA from the University of Iowa. He joined Industrial Bank of Korea in 1992 and held a series of positions including head of the strategic planning team, head of the investment finance division, and head of the corporate investment banking group. He has served as executive vice president and chief operating officer of IBK Securities since last year, leading synergy projects between the bank and securities operations and spearheading the SME-focused strategy. He was appointed the firm's eighth CEO at an extraordinary shareholders' meeting and board meeting held June 30.