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All our honoured guests.

 

Welcome to the 17th Seoul International Finance Forum held by the first-class financial newspaper,

Financial News. I’d like to thank deputy prime minister and minister of strategy and finance Yoo Il Ho

and president of the Bank of Korea Lee Ju Yeol.

 

Since the global financial crisis, the global economy has been rapidly changing. On oneside, long

recession has continued. It seems to need more time to recover the world finance despite untraditional

emergency measures like zero interest rate and quantitative easing. Especially financial companies

are suffering from decreased profits on the basis of low interest.

 

However, innovation still takes place even in the difficulties which we may say is amazing. Spread of

Fin Tech, the combination of finance and latest IT technology, will be a good example. Korea is also

about to introduce an Internet-only Bank. Robo-advisors are already competing against human fund

managers in terms of earnings rate. Block Chain, the security technology of virtual money Bitcoin, is

attracting our attention as a new technology for the future financial innovation.

 

Therefore, Financial News fixed the theme of the finance forum this year as ‘the Future of Finance,

Who is the winner?’ The question is quite provocative because no one can predict the future of finance.

 

Today’s keynote speaker Chris Skinner is the president of Financial Services Club(FSC) and a notable

leader of Fin Tech in the global finance. President Skinner’sbook ‘Digital Bank’ is a must-read book for

those studying Fin Tech. His speech will be followed by in-depth lectures and discussions about the future

of finance with great scholars and experts in the international financial field for two days.

 

Jae-Ho Jeon

Chairman & CEO,

The Financial News

 

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