Journal of Information Technology Services (한국IT서비스학회지)

Korea Society of IT Services (한국IT서비스학회)
권호 표지
DOI QR코드

DOI QR Code

An Analysis of Economic Effects of The Fintech Industry

핀테크 산업의 경제적 파급효과 분석

  • 정영근 (한국전자통신연구원 사업화전략실) ;
  • 박호영 (한국전자통신연구원 사업화전략실) ;
  • 박추환 (영남대학교 경제금융학부)
  • Received : 2017.07.23
  • Accepted : 2017.12.29
  • Published : 2018.03.31
Download PDF
⟨ Previous Next ⟩

Abstract

In this study, we define Fintech services as review previous literatures and identify the traditional Fintech service market for analysing the economic effects of the Fintech Industry by using the 2014 Input-Output Table. We can identify the current market of Fintech industry which consists of VAN, PG, financial SW, mobile banking and Fintech R&D and we conduct Input-Output analysis by using non-competitive import model. The Input-Output analysis results show that production inducement effect and front/rear chain effect of the Fintech Industry are below average of other industries. This is because the Fintech technology and industry were emerging in Korea at that time (2014), and thus the ripple effects are not significant. Especially, due to the existing white risk financial regulation, new business opportunities have not been open to adapt new ICT-financial technologies. Therefore, when the business ecosystem is build through deregulation and platforms of the financial sector, it is expected that the Fintech Industry will have a high ripple effect. In this study, we identify the current market of Fintech industry from ICT indusries and conduct Input-Output analysis. The economic effects of the Fintech industry are not remarkable, but it is significant to identify the emerging market and present the basic analysis of issued research field.

Keywords

References

  1. Ahn, H.B., "Analysis on Trend of Domestic Fintech Technology", Communications of the Korean Institute of Information Scientists and Engineers, Vol.34, No.4, 2016, 29-33. (안효범, "국내 핀테크 기술 적용 현황 분석", 정보과학회지, 제34권, 제4호, 2016, 29-33.)
  2. Bank of Korea, "Commentary of Input-Output Analysis", Bank of Korea, 2014. (한국은행, "산업연관분석 해설", 한국은행, 2014.)
  3. Bank of Korea, "Status of Internet Banking Service Usage in 2014", Bank of Korea Press Releases, 2015. (한국은행, "2014년 중 국내 인터넷뱅킹서비스 이용 현황", 한국은행 보도자료, 2015.)
  4. Bank of Korea, "Input-Output Statistics", Bank of Korea, 2016. (한국은행, "2014년 산업연관표", 한국은행, 2016.)
  5. CB Insight, "https://www.cbinsights.com/data store/", 2014 (Accessed Sep 20. 2016).
  6. Chang, S.S., "A Study on the Impact of Fintech on the Information Security Industry", Internet & Security Focus, Vol.2, 2015, 4-32. (장상수, "핀테크(Fintech)가 정보보호산업에 미치는 영향에 대한 고찰", Internet & Security Focus, 제2권, 2015, 4-32.)
  7. Financial Services Commission, "IT-financial Convergence Support Plan", IT-Financial Convergence Conference, 2015a. (금융위원회, "IT․금융융합 지원방안", 제1차 IT․ 금융융합협의회, 2015.)
  8. Financial Services Commission, "Strategy for Promotion of Fintech Industry", Financial Services Commission Press Resource, 2015b. (금융위원회, 핀테크 산업 활성화를 위한 단계별 추진 전략과 향후 과제, 금융위원회 보도자료, 2015.)
  9. Financial Services Commission, "Electronic Financial Business Status and Outlook in 2015", IFinancial Services Commission Press Resource, 2016. (금융위원회, "2015년 전자금융업 등록 현황 및 향후 전망", 금융위원회 보도자료, 2016.)
  10. Garnter, "https://www.gartner.com/tech nology/home.jsp", 2013 (Accessed Sep 20. 2016).
  11. Jung, W.S., S.H. Kim, and K.S. Min, "An Analysis of the Economic Effects for the IoT Industry", Journal of the Internet Information Science Society, Vol.14, No.5, 2013, 119-128. (정우수, 김사혁, 민경식, "사물인터넷 산업의 경제적 파급효과 분석", 인터넷정보학회논문지, 제 14권, 제5호, 2013, 119-128.)
  12. Kim, B.R. and J.P. Hong, "Economic Ripple Effect and Growth Contribution of Information Security Industry", The Journal of Korea Information Science Society, Vol.19, No.5, 2015, 1031-1039. (김방룡, 홍재표, "정보보호 산업의 경제적 파급효과 및 기여도 분석", 한국정보통신학회논문지, 제 19권, 제5호, 2015, 1031-1039.)
  13. Kim, S.K. and H.J. Lim, "The Economic Effects of Intellectual Property Service Industries Using Inter-Industry Analysis", Intellectual Property Research, Vol.9, No.1, 2014, 209-242. (김상기, 임효정, "산업연관분석을 이용한 지식재산 서비스업의 경제적 파급효과 분석", 지식재산연구, 제9권, 제1호, 2014, 209-242.)
  14. Kim, Y.J., B.S. Cho, and J.B. Shim, "The Economic Impact of the Smart Grid Industry by using Input-Output Analysis", The Journal of Korea Institute of Communication Sciences, Vol.35, No.8, 2010, 1241-1250. (김유진, 조병선, 심진보, "산업연관분석을 활용한 스마트그리드 산업의 경제적 파급효과", 한국통신학회논문지, 제35권, 제8호, 2010, 1241-1250.)
  15. KISA, "Fintech Industry Trends and Prospect", Issue Analysis, Vol.71, 2015. (한국인터넷진흥원, "핀테크 국내외 산업 동향과 전망", 이슈분석, 제71권, 2015.)
  16. KOSTAT, "http://kosis.kr/index/index.do", 2015 (Accessed July 15. 2017).
  17. Lee, S.H., J.B. Park, D.Y. Kim, D.S. Choi, and S.H. Jin, "Study on Fintech Technology and Its Security", Electronics and Telecommunications Trends, Vol.30, No.4, 2015, 110-119. (이성훈, 박준범, 김대엽, 최대선, 진승헌, "핀테크 기술 및 보안 동향", 전자통신동향분석, 제30권, 제4호, 2015, 110-119.)
  18. Leontief, The Structure of American Economy 119-1931, 2nd edition Revised, New York, Oxford University Press, 1951.
  19. NTIS, "http://www.ntis.go.kr/ThMain.do", 2014(Accessed June 30. 2017).
  20. Park, D.H., "Implications of Fintech from the View of Convergence Among Industries", Internet & Security Focus, Vol.11, 2014, 4-17. (박대훈, "산업 간 융합 관점에서 본 핀테크의 시사점", Internet & Security Focus, 제11권, 2014, 4-17.)
  21. Park, J.G., "Fintech and Information Security", Information Science Society, Vol.33, No.5, 2015, 23-32. (박정국, "핀테크(Fintech)와 정보보안", 정보과학회지, 제33권, 제5호, 2015, 23-32.)
  22. Park, J.S., M.J. Kim, and B.I. Hwang, "Background and trend of Fintech", Journal of the Korean Institute of Communication Sciences, Vol.33, No.2, 2016, 52-58. (박재석, 김민진, 황병일, "핀테크의 발전 배경과 주요 동향", 한국통신학회지(정보와 통신), 제33권, 제2호, 2016, 52-58.)
  23. UK Trade & Investment, "Landscaping UK Fintech", Commissioned by UK Trade & Investment, 2014.