Lee Bok-hyun, the head of the Financial Supervisory Service, has urged securities firms to transform their business practices and investment strategies in order to foster growth and innovation in the capital market. In a meeting with 16 securities firms, he emphasized the importance of comprehensive discussions and cooperation, rather than engaging in energy-draining disputes based on specific ideologies or political factions. Lee stressed that securities firms should evolve from being mere brokers to becoming leaders in the development of the capital market, earning the trust of both listed firms and investors. He highlighted the necessity for securities firms to increase their investment in unconventional sectors, citing the example of Nvidia's pioneering work in artificial intelligence and the need for Korean firms to emulate such innovation. Furthermore, Lee emphasized the need for securities firms to move away from traditional investment practices, such as real estate project financing, and instead become "core providers" of funds to innovative firms in promising sectors like AI and big data. He also called for proactive management of liquidity risks associated with short-term real estate PF loans to minimize potential fallout. Overall, Lee's message to securities firms was clear: they must embrace change, take on a more active role in fostering innovation, and adapt their investment strategies to support the growth of the capital market.