The Korea Financial Investment Association, as it enters the KOSPI 5000 era, has carried out a sweeping organisational overhaul to prepare a long-term growth strategy for the “K capital market”. It is setting up a new control tower to map out the next 10 years and stepping up support for new growth areas such as digital assets and real estate trusts.

The association said on Friday its board approved the reorganisation and executive appointments. Under the overhaul, its structure will expand from six divisions plus an academy, 24 departments and 15 teams to seven divisions plus an academy, 25 departments and 10 teams. The changes take effect on Feb. 9.

The core of the overhaul is the creation of the K Capital Market Division. The association will integrate departments related to future growth areas such as pensions, taxation and digital under the division to maximise synergy. Han Jae-young (한재영), an executive director, was newly appointed as its first head.

Under the division, it will separately establish a K Capital Market Promotion Task Force and entrust it with the key role of drawing up a 10-year blueprint for South Korea’s capital market and identifying specific policy tasks. It also expanded the existing tax team into a Pension and Tax Department to improve the efficiency of pension and tax support for member firms.

A dedicated organisation will also be set up to respond to the rapidly changing financial environment. Within the Industry Cooperation Department, it will create a Digital Strategy Team to actively support member firms in expanding digital asset business such as tokenised securities (STO) and virtual assets.

A Real Estate Trust Division will also be elevated to an independent division to represent the views of the real estate trust industry. It is a move to provide dedicated support to trust firms struggling due to a slump in the property market. Cho Hang-shin (조항신), acting head of the division, will serve as the new head and lead the General Real Estate Finance Department.

It will also create an External Cooperation Department and a Legal Support Department to strengthen legislative support and external communications. It plans to upgrade the former team-level external cooperation and legal units to departments, strengthen communication channels with the National Assembly and the government, and enhance legal support services for member firms.

It also pursued organisational streamlining in parallel to raise work efficiency. It integrated team organisations within the Public Relations Department and transferred the Busan branch, which supports member firms in the Busan-Ulsan-Gyeongnam region, under the Securities and Futures Division to strengthen cooperation with related departments.

Hwang Seong-yeop (황성엽), chairman of the Korea Financial Investment Association, said, “This organisational overhaul focused on presenting a long-term vision for the capital market suited to the KOSPI 5000 era and swiftly resolving tasks facing member firms.” He added, “We will support a leap forward for the K capital market with more specialised services.”