IBK Securities’ chief on Thursday outlined the ambitious goal of becoming one of the industry’s top 10 brokerages during his term, even though it has yet to reach the top 20 among the 41 in the nation.

“We expect to see 10 billion won ($9.5 million) in net income this year and also will aim to enter the industry’s top 10 in terms of return on equity,” IBK Securities’ chief Shin Seong-ho told reporters at his first press meeting in Seoul on Thursday. 

Shin said the company would also seek to take the lead in the Korea New Exchange, a listed market reserved for small and medium companies.

“As a financial firm specializing in SMEs, we have more strength in listing companies on the Korea New Exchange than other brokerage firms,” the chief executive said.

He pointed out that out of 62 companies listed on the KONEX this year, 13 were listed via IBK Securities. An additional five or six more companies are expected to be listed by the end of the year.

Shin said the company would also focus on attracting more heavyweight clients by expanding its business in mergers and acquisitions, as well as private equity. He said IBK Securities already has the experience of being involved in the Kumho Industrial restructuring deal, the biggest private equity fund led by securities firms.

To bolster the workforce capacity ― a vital element for improving the firm’s core competence ― Shin said the company would create a self-learning environment for employees.

“Regarding recent issues such as the misselling of financial products and lagging behind in customer protection, IBK Securities will deal with them through thorough retraining,” he added.

Shin Seong-ho served as head of Woori Futures before taking office as chief executive of IBK Securities in August.

By Shin Ji-hye (shinjh@heraldcorp.com)