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KIS
makes its move into digital asset industry
CEO Patrick
Yoon accelerates AI adoption to become more customer-focused organization
By Lee Hyo-jin,
The Korea Times - Korea Investors Service (KIS) continues to monitor the
digital asset landscape in Korea and is exploring the feasibility of market
participation, subject to the establishment of a regulatory framework,
according to CEO Patrick Yoon.
KIS, one of
Korea's leading credit rating agencies and an affiliate of Moody's, has
established a dedicated digital assets team and is developing methodologies
that could be used to assess Korean won-backed stablecoins once legislation is
in place.
"Once
won-backed stablecoins are created, an ecosystem needs to be built to ensure
they can be used effectively. They need to function well not only in Korea but
also overseas for a proper stablecoin system to take shape. We believe there is
a role that KIS can play in that process," Yoon said in a recent interview
with The Korea Times.
"If we
can establish a stablecoin assessment system tailored to Korea, the digital
asset market can be evaluated more transparently and various risks can be
managed more effectively," he added.
The
preparations come as lawmakers and financial regulators continue discussions on
a legal framework for stablecoins as part of the second phase of Korea's
digital asset legislation. Market participants are watching the process
closely, though its timing and final scope have yet to be determined.
While some in
the industry have expressed concerns about delays in the legislative process,
Yoon said he sees growing signs that a regulatory framework is taking shape.
He pointed to
a series of recent investments involving cryptocurrency exchanges and
traditional financial institutions, including Korea Investment &
Securities' acquisition of a 20 percent stake in Coinone announced in May.
"In
recent years, many of the concerns surrounding ownership and governance risks
at cryptocurrency exchanges have eased significantly," Yoon said. "As
those concerns fade, securities firms are becoming more willing to enter the
market."
Yoon said
investor protection through a transparent assessment framework would remain a
key priority as the market develops.
"We want
to place greater emphasis on protecting both users and investors by providing
more transparent information to the market," he said.
KIS is
building its own analytical capability, drawing on expertise from its global
partners. It has also begun discussions with consortiums exploring potential
won-backed stablecoin projects, the CEO added.
The push into
digital assets is part of a broader effort by KIS to adapt to the rapidly
evolving financial landscape under Yoon, who took office in March.
Before joining
the ratings company, Yoon held senior roles at Standard Chartered Korea, Visa
Korea and Crypto.com Korea, giving him experience across both traditional and
emerging financial sectors.
Yoon said KIS
is accelerating the adoption of artificial intelligence (AI) across its
operations. Employees are increasingly adopting customized AI tools to support
their work, with analysts encouraged to build their own AI agents.
"Every
employee has already developed at least one AI agent, and some have created
more than 10. The goal is for employees to build tools tailored to their own
needs. We will continue testing and refining them through the end of this
year."
The CEO
stressed that AI is intended to automate routine work, allowing analysts to
focus on higher-value judgment and industry analysis.
"Analysts
often spend a significant portion of their day reviewing research and gathering
information," he said. "Now, AI can help summarize large volumes of
data, enabling analysts to concentrate on higher-value tasks."
Yoon also
viewed investing in employees through competitive compensation and professional
development opportunities as a key priority for the company.
"At the
end of the day, our business is about people," he said. "Building a
strong culture and attracting talented employees are critical to our long-term
success and to becoming Korea's leading credit rating agency."
