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29th Ha Yeong gu
28th Suh, Jung jin
27th Kwon, Young Gull
26th Saeil Park
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24th Lee Sukjoon
23th Joe, Kyung-tae
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18th Lee, Minhwa
17th Ok Dong Suk
16th Lee Charm
15th Ryoo Kihl-jae
14th Kim, Jong In
13th Oh Kyung Hwan
12th Park Byung Soon
11th Chung Mong-Joon
10th Rhee In-Je
st Adieu 2012
9nd Oh, Sang Rok
8rd Lee, Jung Hyun
7th Hwang, Joo Ho
6th Lee,Seok Chae
5th Chang, Yong Dong
4th Lee, Yong Seob
3th Cho,Eun Gi
2th Kim, Jong Hoon
1th Kim, Sung Eun






29th Global Leaders Forum

Date : '16.10.26




29th Global Leaders Forum
Chairwoman's Opening remark

Date : '16.10.26
Videotaped by Jang, Hee Seoung


29th Global Leaders Forum
Special lecture

Date : '16.10.26
Speaker : Ha Yeong gu
( Chairman of the Korea Federation of Banks)

Lecture Summary

The tasks of the financial industry of Korea

Ha Yeong gu ( Chairman of the Korea Federation of Banks)

This year’s ‘Global Competitiveness Report“ released by the World Economic Forum(WEF) showed Korea ranked 80th among 138 countries in the world. The rating is even behind Uganda, However, from my practical experience, Korea can not be viewed far lower than Japan and Taiwan. The credit ratings of our banks by a global credit rating company is A+ and the availability of financial service and the price propriety of our banking industry do not deserve ratings below 80ths. After the IMF crisis, it was foreseen that the profitability of banks would improve greatly. Under such speculation, foreign banks moved into Korea in 2004. Unlike such analysis, the profitability of the financial industry ranked 83rd with 2~4% earnings due to the factors such as low interest rates, high cost structure, one term of CEO, bureaucratized and politicized financial system, excessive dependence on the domestic market and etc. Furthermore, digitalization creates new challenges and risks to the traditional financial model.
In order to improve the profitability of banks, broadening non interest revenue, expanding into overseas, securing reasonable prices, improving efficiency, developing the symbiotic relationship with Fintech are needed. For the development of the financial industry, improving banking governance structure, establishing the virtuous circle of the financial services, switching to the Universal Banking, reforming regulations for the digitalization era.
To become the financial hub of Northeast Asia, we need to break away from social conventions, to properly adjust our viewpoint of foreign financial institutions to better fit the globalization, and to free inflows and outflows of funds.
Although the households debts are very high, it is not as risky as the public think because the average LTV is stable as 54%, the households assets are greater than households debts, the high 4.5 income brackets are 70%, loans with fixed interest rates and redemption by installments are 40%. However, we need to be cautious about the blind sight where LTV and DTI do not apply, the rapid growth of increase of households debts, and the weakening of capital flexibility of multiple debtors, the increase of debts of the sole proprietors in the age of 50~60 years old.







29th Global Leaders Forum Q&A