Watchdog chief urges securities firms to shore up market confidence

The chief of Korea's financial watchdog on Wednesday called on securities firms to redouble efforts to shore up investor confidence.

In a meeting with heads of securities firms, Lee Bok-hyun, governor of the Financial Supervisory Service (FSS), said they should fulfill their role as institutional investors and iron out the strict internal control system to boost market confidence.

"I also hope that securities firms would provide funding to innovative players to help them secure future growth engines," Lee said.

The FSS chief also called for efforts to find diversified business models to create high value-added services. (Yonhap)