Kim, Seong Jin, senior in the School of Economics and Finance, takes first place in the 'Market Economy Development, Thesis/Idea Competition'
The corporate analysis reports made by individual investors contribute to the development of the stock market
[Mar 1, 2013]

 "In response to the repeated stock price manipulations that were unveiled recently, the financial authorities announced strong measures to stop stock price manipulations, but investors still have their hands tied as they are unable to trust companies. It is now time to have special measures to remove the prevalent mistrust in the stock market and restore its integrity. Thus, I came up with the idea to utilize the collective intelligence of individual investors to purify and monitor the market."

 Kim, Seong Jin (23, photo), a senior in the School of Economics and Finance, won first place in the idea sector of the 'Research Thesis and Idea Competition for the Development of the Market Economy' hosted by the Market Economy Research Institute(MERI).

 This competition, which is in its seventh year, was sponsored by the Ministry of Strategy and Finance(MOSF) and the Korea Exchange(KRX), and received applications for research theses and ideas for the goal of 'establishing and spreading the market economy principles' from February 18 to March 31 among college and graduate school students, and the general public.

 In result, Kim, Seong Jin's 'Development of the Stock Market through Ant-Reports: Collection and Use of Information through Collective Intelligence' was awarded first place in the idea sector. He received the Fair Trade Commission Award and a cash prize of 3 million won at the Merry Gold Hall on the 5th Floor of El Tower at 5 p.m. on the 26th of last month.

 Kim's idea was to provide an online space in which individual investors could disclose their information on the corporations and verify the information mutually like Wikipedia, the 'free encyclopedia that anyone can edit' in order to complete and supplement corporate analysis reports. "There was a book that said that a map of Mars made by scientists who researched Mars for decades was similar to that of map of Mars drawn up by about 75,000 amateurs, emphasizing the importance of cooperation. Likewise, if the information power of individual investors is used collectively, I believe that it will be possible to overcome the quantitative limitations and qualitative biases of corporate analysis reports made up by a few institutional investors or experts. Furthermore, it can prevent distrust and confusion in the stock market caused by 'stock market flyers' and 'stock price manipulations', while helping the market purify itself." Reviews on this idea were very good saying that it is realistic and excellent, and could be used as a policy agenda to put into execution.

 While gradually gaining experience at 'Finomics' (advice Professor Kim, Do Yeon), a club for the School of Economics and Finance, for the past 3 years, he has also won an award at a thesis competition hosted by Citibank and the Korea Institute of Finance. But, he still did not forget to say that this award was possible thanks to the positive instructions of his professors and the encouragement of his fellow classmates.

 He said that he hoped to go into the economics and finance sector and contribute to the healthy growth of the stock market, and said with a smile, "It would be ideal for a powerful and just person to protect the safety of the people. Likewise, a person who has better understanding of the economy and insight will be able to contribute to the establishment of a healthy market economy principle. I will study hard and work harder."