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Seoul as Regional Financial Hub _ Achieving the Vision
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The Korea Times, Larry Berger, Jun, 14, 2007 |
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In 2003, Korea announced its intention of developing Seoul into the regional financial hub of Northeast Asia. Achieving this vision would enhance the country's rate of economic growth, provide much needed diversification into the services sector of the economy and create new employment opportunities. Creating a financial hub would also increase the global competitiveness and efficiency of Korean financial institutions . . . allowing them to join the ranks of Asian leaders. The hub would attract global-scale financial institutions and allow them to prosper in a conducive growth environment. A deeper, more liquid money and capital market would be more resilient in future financial or economic crises, mitigating the severe disruptions such as were experienced in the 1997-98 downturn. Becoming a financial hub would furthermore enhance Seoul's diplomatic positioning, regionally and internationally.
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M&A Deals Brewing in Securities Industry
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The Korea Times, Sang-beom Kim, Aug, 3, 2006 |
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``Leading securities firms are likely to acquire small brokerage houses after the Capital Market Integration Act comes into effect in 2008,'' Kim Sang-beom, an associate principal of McKinsey Seoul, said.
In a second phase, industry consolidation among large securities firms may follow.
``As a result, over the next 10 years, the capital market will be reshaped, led by two or three investment banks and some specialized brokers _ instead of the current 50 plus brokerage houses _ and a number of investment services firms,'' Kim said. |
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When Will Korea Have Competent Investment Banks?
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The Korea Times, Sang-beom Kim, Apr, 25, 2006 |
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``As the 1997 financial crisis triggered the restructuring of the banking sector, the incoming Capital Market Integration Act will be a catalyst for the development of the capital market,'' said Kim Sang-beom, consultant of McKinsey's Seoul office, in an interview with The Korea Times.
``The Korean securities industry will be reformed and led by two or three major players through mergers and consolidations in the next six to 10 years.'' |
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Life at McKinsey should not be about merely improving one's skills but, in a larger context, should be about changing the way we think and act, and eventually changing the course of our lives |
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