• Title/Summary/Keyword: 금융제도

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(A) Study on the Structure Change of Financial Industrial for strengthening Global Financial Control (글로벌 금융 규제 강화에 따른 금융산업의 구조변화에 대한 연구)

  • Ham, Hyung-Bum;Choi, Chang-Youl
    • International Commerce and Information Review
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    • v.16 no.2
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    • pp.47-67
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    • 2014
  • Since the global financial crisis, criticism against the integrity of financial institutions proposed new financial regulations such as Basel III. These systems are expected to have impacts multilaterally on management and structure of mid- and long-term financial industry. It is also believed that financial institutions will inevitably review business model to respond to these enhanced regulations. The ongoing global financial regulation pursues regulation scope extension, introduction of global regulatory capital system, introduction of global liquidity, etc. As for quantitative index, Basel Committee on Banking Supervision is promoting QIS which is discussed mainly on implementation time from the juridical point of view. This study aims to present domestic banking industry's structural changes depending on regulation enhancement of foreign countries after global financial crisis, and suggest strategy that improves competitiveness of products. Looking at the research result, global financial regulation requires compliance with the regulations through treaties but it shows negative time center around banks. Furthermore, it is also pointed out financially advanced countries' passive attitude on regulation enhancement is problem. Therefore, regulations differentiated between developing and developed countries, dualistic regulations on financial industry, participation of advanced nations, etc are the postulation to change the structure of financial industry.

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Regional Difference of Project Finance and Its Policy Implications (프로젝트 금융의 지역적 차별성과 정책적 시사점)

  • Park, Won-Seok
    • Journal of the Economic Geographical Society of Korea
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    • v.11 no.4
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    • pp.580-599
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    • 2008
  • This paper aims at examining the existence and characteristics of regional difference in project finance in Korea. Main results of this paper are as follow. Firstly, regional difference in project finance between capital region and local can be seen partially. However, their characteristics are different from corporate finance. ANOVA tests show significant differences of excess interest rate occur in case of commercial real estate projects and significant differences of contracted terms occur in case of residential real estate projects carried out by local banks. Secondly, key factors causing the regional differences in project finance are asymmetric information for cash flow generated by the project between the capital region and local. Especially, regional differences in project finance are different from those in corporate financing because of local banks$^{\circ}{\phi}$ behaviors. They follow and act as the passive members of nationwide banks in case of the capital region projects. Thirdly, prepaid sale system and the guarantee system depending on construction companies dilute the regional differences in project finance in case of residential real estate projects. Although these systems contributed rapid growth of project finance, they may be the main factors distorting project finance market which lead to financial crisis. In these context, policy implications may be derived in order to solve the confronted problems of project finance market.

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Activation of Korean Ship Finance through Study on Chinese Ship Finance Market (중국 선박금융 시장 연구를 통한 국내 선박금융 활성화)

  • Kim, Dae-Jin;Kim, Ju-Hyeoun
    • Journal of Korea Port Economic Association
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    • v.35 no.2
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    • pp.1-20
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    • 2019
  • This study aims to establish a method for activating Korean ship finance through an analysis on the development of Chinese ship finance market, which has grown rapidly in recent years. It focuses on its main institutions, laws and policies, strengths and weaknesses, market share, and development status. Because 80.7% of South Korea's economy depends upon foreign trade and 99.7% of the South Korea's traded volume is transported by ships, shipping has assumed an important role in Korean economy. However, since the global financial crisis, Korean shipping and shipbuilding industry has been facing difficulties and Hanjin, the biggest Korean shipping company, went bankrupt in 2017. One of the key aspects of the competitiveness of the shipping and shipbuilding industry is acquiring competitive shipping assets; therefore, stable and smooth supply of ship finance is crucial for the development of the shipping and shipbuilding industry. Given this background, the study analyzed how the Chinese ship finance market has grown rapidly in the past 30 years and identified the problems, strengths, and weaknesses of the Chinese ship finance. The analysis on the status of the Chinese ship finance market is expected to suggest a direction for establishing methods for activating the Korean ship finance market, which is facing scarcity of finance, even as the global ship finance market has remained depressed since the global financial crisis. Although this study focused exclusively on the Chinese market, future research can draw conclusions from a comparative analysis that includes the Japanese ship finance market; the conclusions obtained would contribute to the establishment of long-term policies and plans for Korean ship finance.

Implication of Effectuation Theory related to Affordable Loss Concept (Affordable Loss 개념을 중심으로 한 The Effectuation Theory의 함의)

  • Seokhee Lee;ByoungJo Kim
    • The Journal of the Convergence on Culture Technology
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    • v.10 no.3
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    • pp.155-164
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    • 2024
  • This study examines whether startup firms start with the resources they already have and expand the resources they can mobilize in the process of business management (Effectuation Model) using public data provided by the government. The results of the study show that the Effectuation Model can partially explain the behavior of early-stage startup firms. Therefore, in terms of policy implications based on these findings, government policies for entrepreneurship should not be based on the selection of companies based on sophisticated business models and hypothetical profit models, but rather on a system that actively supports entrepreneurship in areas that are challenging, even if they seem somewhat reckless at the moment, or that best match the entrepreneur's knowledge. Next, in order to actively spread entrepreneurship, it is necessary to spread business history or entrepreneurial experience. To this end, it is necessary to drastically change the current financial system for startups, where the founder bears all the financial risk, and to more actively consider ways to reduce the risk of startups by allowing society and the financial system to share some of the risk of startups.

Competition in the Life Insurance Market: Evidence from Korea using the Panzar - Rosse Model (국내 생명보험산업의 경쟁도 변화에 대한 융합적 연구: 방카슈랑스와 퇴직연금제도의 시행을 중심으로)

  • Choi, Sungho
    • Journal of the Korea Convergence Society
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    • v.7 no.5
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    • pp.201-211
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    • 2016
  • This paper uses the Panzar Rosse model to investigate the competitive conditions in the Korean life insurance companies over the period of 1999 2012. We break down the entire sample period into four distinctive groups and analyze the competitiveness of each period. The results indicate that for the pre-introduction of Bancassurance period, the H-statistic is -1.3984 and the life insurance market is found to be in monopoly or cartel. However, for the post-introduction of Bancassurance period, the H-statistic is 0.9107 and the life insurance market appears to be in monopolistic competition. The results from the introduction of retirement pension system are very similar to those of the introduction of Bancassurance. Overall, the findings indicate that the Korean life insurance market is in long-run equilibrium before the new system introduction, but make adjustments to the new equilibrium.

A study on the Problems and Improvement of Export Credit Guarantee System in the Trade Insurance (무역보험의 수출신용보증제도의 문제점과 개선방안)

  • La, Kong-Woo
    • International Commerce and Information Review
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    • v.15 no.1
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    • pp.259-283
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    • 2013
  • In this study has been suggested on the basis of the Court of Audit's report on trade insurance issues presented and the Export Credit Guarantee Insurance Improvement. First, the improvement insurance underwriting standards and come up with measures to improve the soundness of the insurance fund trading. In order to do this, (1) warranty for a lower credit companies strengthen underwriting standards, (2) raise short-term solvency and the accuracy of financial statements Review criteria Borrowings calculated based, (3) trustee companies Warranty Terms for improvement, (4) for closure of businesses quickly take measures of bond conservation measures. Second, through improved risk management measures to strengthen risk management for export credit guarantees are to be provided.

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A Study on Cloud Computing for Financial Sector limited to Processing System of Non-Critical Information: Policy Suggestion based on US and UK's approach (비중요 정보처리시스템으로 한정된 국내 금융권 클라우드 시장 활성화를 위한 제안: 영미 사례를 중심으로)

  • Do, Hye-Ji;Kim, In-Seok
    • The Journal of Society for e-Business Studies
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    • v.22 no.4
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    • pp.39-51
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    • 2017
  • In October 2016, the NFSA (National Financial Supervisory Authorities) revised the network separation clause of the Regulation on Supervision of Electronic Financial Activities in order to promote the Cloud Computing implementation in the financial sectors. The new regulation, however, limits the Cloud Computing usage to non-critical information and its processing system. Financial institutions that provide customer data analysis and personalized services based on personal data regard current revision as unchanged as before. The implementation of Cloud Computing has greatly contributed to cost reduction, business innovation and is an essential requirement in ever-changing information communication technology environment. To guarantee both security and reliability of the implementation of the Cloud Computing in financial sectors, a considerable amount of research and debate needs to be done. This paper examines current Cloud Computing policies in the Korean financial sector and the challenges associated with it. Finally, the paper identifies policy suggestions based on both European Union and United States' approach as they have successfully introduced Cloud Computing Services for their financial sectors.

A Study on Improving the Electronic Financial Fraud Prevention Service: Focusing on an Analysis of Electronic Financial Fraud Cases in 2013 (전자금융사기 예방서비스의 개선방안에 관한 연구: 2013년 전자금융사기 피해사례분석을 중심으로)

  • Jeong, Dae Yong;Lee, Kyung-Bok;Park, Tae Hyoung
    • Journal of the Korea Institute of Information Security & Cryptology
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    • v.24 no.6
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    • pp.1243-1261
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    • 2014
  • With the methods of electronic financial frauds becoming advanced, economic losses have greatly increased. The Electronic Financial Fraud Prevention Service(hereafter EFFPS) has taken effect to prevent electronic financial frauds, but economic losses still occurring. This paper aimed to suggest a direction for improvement of the EFFPS, through the analysis of electronic financial fraud cases. As a result of analysis on the fraud cases before and after implementation of the EFFPS, 'Fraud using Smartphone App' and 'Fraud using Calls and SMS' were increased after implementation of the EFFPS, and also the damage cost of 'Fraud using Smartphone App' had increased. Also we revealed some limitations of the EFFPS. For complementing this limitations, authors considered direction for improvement of the EFFPS focus on application of current services/systems related prevention of electronic financial fraud and considered the ways that are make connection with several measurements related prevention currently being discussed and implemented in perspective of defense in depth.

Necessity and Expected Effects of Introducing the Korean Version of Tax Lease Scheme for Ships (한국형 선박 조세리스제도 도입 필요성과 기대효과)

  • Sung-Hwa Park;Hanna Kim
    • Proceedings of the Korean Institute of Navigation and Port Research Conference
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    • 2022.06a
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    • pp.369-370
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    • 2022
  • In Korea's ship finance, due to the nature of pro-cyclical investment, the private sector's ship finance greatly shrinks during the shipping recession, and policy financial institutions take the lead in ship finance. Meanwhile, the government established the 「Strategy for the Realization of Shipping Industry Leader」 (June 29, '2) and set a development goal by 2030 through support such as securing new high-efficiency ships. To promote financial investment. However, investment in the shipping industry is not easy to induce due to risks and uncertain market conditions. Therefore, it is necessary to review tax benefits that can induce joint investment of investors at the government level. Therefore, it is necessary to introduce a Korean version of tax lease scheme for ships in order to resolve the liquidity gap in the domestic ship finance market and successfully implement the five-year plan for reconstruction of shipping industry.

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Analysis on Tax Benefits of Tax Lease Scheme for Ships (선박 조세 리스제도의 세제혜택효과 분석)

  • Cho, Kyu-Yeol;Lee, Ki-Hwan
    • Journal of Korea Port Economic Association
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    • v.36 no.2
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    • pp.63-86
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    • 2020
  • The tax lease scheme for ships is an advanced ship financing tool that generates tax benefits through accelerated depreciation of capital allowances and transferring them to the ship operator (leasee) via reductions in rental payments. The scheme was introduced by Japan in 1978 and by France in 1998 to support their shipping and shipbuilding industries. The size of tax benefits varies by country depending on the depreciation rate for ships, corporate tax rate, and the tax system on profits from the sale of ship. This study uses a virtual model of the Korean tax lease scheme for ships based on the French tax lease scheme. The size of tax benefits is calculated and compared to those in the French and Japanese tax lease schemes. According to the analysis, the size of the tax benefit was approximately 19% for France, 14% for Japan, and 12% for Korea. This is differentiated by the country's depreciation rate and corporate tax rate, which have the greatest impact on the size of tax benefits. For the Korean virtual model, if the tax benefits are distributed by the operator and the investor at the rate of 75:25, the operator is expected to enjoy tax benefits equivalent to about 9% of the ship price and the investor to enjoy 3%. Despite limited information and data regarding the tax lease scheme for ships, this study was the first attempt in Korea to design a virtual model of the Korean tax lease scheme based on some predictable assumptions. Therefore, a group of shipping, financing, and legal experts will follow up on more professional and practical reviews of the model in the near future. Hence, this study will serve as a small contribution to the early introduction of the Korean tax lease scheme for ships.