A consultative body has been launched to draw up a growth strategy for South Korea's capital markets over the next 10 years. It will focus on identifying long-term tasks for the capital market and establishing a policy roadmap.

The Korea Financial Investment Association held a launch ceremony for the K-Capital Market Forum on April 27 in Yeouido, Seoul. The forum will operate with figures from across capital market policy, the financial investment industry, accounting, law and academia to discuss mid- to long-term tasks.

The association established a K Capital Market Division through an organisational reshuffle early this year. At the time, it grouped departments related to future growth engines such as pensions, taxation and digital under the new division and set up a K Capital Market Promotion Task Force to identify a 10-year blueprint and policy tasks.

Hwang Seong-yeop (황성엽), chairman of the Korea Financial Investment Association, will participate as chair of the forum. Members include Kim Se-wan (김세완), president of the Korea Capital Market Institute; Shin Je-yoon (신제윤), chairman of Samsung Electronics' board of directors; Yoo Sang-ho (유상호), senior vice chairman of Korea Investment & Securities; Jung Sang-gi (정상기), former vice chairman of Mirae Asset Global Investments; Jung Soon-seop (정순섭), professor at Seoul National University's law school; Choi Woon-yeol (최운열), chairman of the Korean Institute of Certified Public Accountants; and Hong Seong-guk (홍성국), former president of Daewoo Securities, for a total of 8 participants.

The association plans to use the forum to address key agendas including innovative growth and job creation through capital markets, improving financial access and convenience through digital finance, guaranteeing retirement income and building long-term assets, advancing capital market infrastructure, strengthening global financial competitiveness, and protecting investors and building market trust.

The K-Capital Market Forum will be held monthly from May. The association plans to conduct intensive discussions for 1 year and then compile the results into a policy report. The report will be submitted to the government and the National Assembly in the first half of 2027.

The forum comes amid changes in the environment surrounding the domestic capital market. As expansion of retail investor participation, growth in the pension market, discussions on corporate value-up, the shift to digital finance and competition to attract global capital proceed at the same time, the scope of capital market policy is also expanding.

In particular, discussions on building long-term assets and guaranteeing retirement income are seen as key tasks for the financial investment industry. That is because the role of capital market products such as individual retirement pensions, pension savings, public funds and exchange-traded funds is expanding as the perception grows that public pensions alone make it difficult to secure sufficient retirement income.

Digital finance is also one of the key agendas. Business areas in the financial investment industry are expanding, including token securities, digital assets and artificial intelligence-based investment services, but improving systems and preparing investor protection devices remain tasks.

The forum is expected to discuss ways to foster new industries while securing market stability and investor trust.

Strengthening global financial competitiveness is also a major topic for discussion. Many point out that to have South Korea's capital market assessed as a more attractive market to overseas investors, improvements in corporate governance, enhanced accounting transparency, advancement of market infrastructure and expansion of the foundation for long-term investment should be pursued together.

The association's position is that it will use the forum to organise policy tasks not only from the industry's interests but also from the perspective of the national economy and investors. As the forum's discussion results will be submitted to the government and parliament, it could also affect future talks on institutional improvements.

Hwang said, "Now is the right time to prepare for a quantum jump, as we remove the shadow of the Korea discount and turn it into a premium in a rapidly changing economic environment." He added, "Through the K-Capital Market Forum, we plan to walk forward humbly step by step toward the next 10 years for K-capital markets."