Seoul: The chief of the Korea Financial Investment Association (KOFIA) announced plans to initiate a special forum aimed at drafting long-term strategies to enhance the capital market, emphasizing that the current period is opportune for upgrading the financial investment sector.

According to Yonhap News Agency, Hwang Seong-yeop, the chairman of KOFIA, made this announcement during a press conference in Seoul. The event marked the 100th day since his election to the position. Hwang stated that the movement of capital into the market is gaining momentum due to recent governmental and legislative reforms designed to invigorate the local capital market. He stressed that this is a crucial time for the capital market to advance.

The planned forum will include experts from financial firms and academia, tasked with developing long-term measures to boost the capital market. Hwang mentioned that the ideas generated could be proposed to the government or potentially evolve into new legislation.

During the conference, Hwang identified five key areas that KOFIA intends to focus on to accelerate the growth of the local capital market. He highlighted that the association is currently enhancing existing systems, including omnibus accounts, to improve access for offshore investors to the domestic market. Additionally, KOFIA is collaborating with the government on efforts to include South Korea in the Morgan Stanley Capital International (MSCI) index.