New Capitalism, New Socio-economic Policy, and the New Roles of Capital Markets

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Hi everyone!

Today I want to talk about the International Conference held on the 19th of September, which was to celebrate the 15th anniversary of Korea Capital Market Institute.

Frank already posted this in his Diary a while ago, mainly talking about the speech addressed by the Chairman of FSC, Kim Seok-Dong (https://financialservicescommission.wordpress.com/2012/09/20/900/).  Of course, my post won’t be an overlapping one. In my blog post, I would like to tell you the details of Mr. Kim’s speech which was composed of three sessions. Let’s look at the specifics of each session talked on that day!

Internatioanl Conference by Korea Capital Market Institute

The 1st session was about ‘New Capitalism’ addressing the function of capital and the role of capital market which are shaping the financial and social reformation. I was lucky to hear opinions by the high-profile speakers, Prof. George Serafeim from Havard university and Geoff Mulgan, the CEO of the National Endowment.

They pointed out three kinds of crises, the environmental, social and governmental, as the current worldwide problems. They criticised the reality of giant corporations blindly seeking short-term profits. FSC’s Chairman also talked about this regard, referring to ‘Corporate Social Responsibility (CSR)’ in a long-term basis.

Next session was about ‘Applying the Idea of Capital Market in our Society’ touching upon feasible solutions to deal with current economic problems. The sessions was a series of speeches by the guest speakers from academia, research institute and financial sector.

The speeches were converged into one core message emphasizing the rational and ethical cooperation between different sectors in our society. For this ends, investors are asked to focus on creating social and environmental values. Moreover, each of us, as a member of our society, should make an effort to constantly figure out the potential in our county and develop it.

 The last session was followed by a panel discussion about ‘New Capitalism, New Socio-economic Policy, and the New Roles of Capital Markets.’ The discussion was a good wrap-up of the whole sessions, letting the guests listen to various perspectives regarding the issue. Overall, I thought that the conference was really well organized, as it allowed me to draw a big picture of the issue. If I have another chance to visit such a conference, I will surely bring the story to this blog. See you then!

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