• The Korean Journal of Financial Studies
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• v.2 no.2
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• pp.213-220
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• 1995

• Journal of Institute of Control, Robotics and Systems
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• v.20 no.10
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• pp.995-1001
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• 2014

In the aftermath of the financial crisis of 2008, while numerous members of the general public lost their homes and jobs, many of the largest banks held responsible for the crisis have been successfully rescued by bailouts. In this paper, through the analysis of income inequality, unemployment, tax cuts, and bailouts, we show that the interests of the general public are different from the interests of politicians and bankers. While the small elite group of politicians and bankers could set the deregulation policies with inordinate power based on full information, most people were ignorant and unconcerned about the policies, and hence did not oppose them. Specifically, we model the credit change in the financial markets of the United States by a finite state machine, and design three local supervisors representing three groups with different interests. It is then shown that the deregulation policies were adopted according to the difference of the supervisors' powers.

• STI Policy Review
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• v.6 no.1
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• pp.24-35
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• 2015

This research constructs a data set regarding competition policy through a comprehensive review of previous studies, and performs a meta-analysis to quantitatively assess the price effects of deregulation. A structural econometric model is used to eliminate possible biases from heterogeneity of the studies,such as in publication types and measurement methods. Four types of regulations that deter competition are characterized and three groups of industries are made for drawing practical implications. We fnd that deregulation to promote competition reduces prices by 0.23% and that these estimated price effects are more stable when we control for the publication types and measurement ways. Easing regulations that restrict consumers' choice is shown to be most effcient in promoting competition, lowering prices by 0.7%. This is followed by eliminating the limitation in the number of frms in the industry, with 0.2% price reduction. Overall, the network and service industries are shown to be more responsive to deregulation than the R&D industry. These results could shed light on policy implementation when a pro-competition policy is called for due to restrictive regulations in the corresponding industries.

• The Journal of the Korea Contents Association
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• v.16 no.8
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• pp.10-19
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• 2016

In this paper, I evaluate national and regional policies for financial centers and Busan Fiancial Center and find the way of the future development of Busan Financial Center. And I found that national policies for financial centers was focused on general improvements of financial industry, so a little tasks for Busan Financial Centers were listed. Therefore I suggest that central government should have more national policies for enhancing Busan Financial Center and promoting participation of private financial firms. And I propose the broader incentive schemes for financial firms moving to Busan, and expect that combining national deregulation policies like Regulation-Free Zone and Regulatory Sandbox and Moonhyun-North Port financial free zone and FinTech cluster plans of Busan will make a big progress of Busan Financial Center.

• Asia pacific journal of information systems
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• v.29 no.1
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• pp.117-143
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• 2019

Advances in information technology (IT) bring about technological innovation in financial businesses, referred to as financial technology (fintech), beyond the traditional financial industry. While fintech implies more convenient and various financial services to customers, it leads to more complexity in the financial sector, as different industry players (e.g., IT firms) can participate in financial businesses. The complexity of fintech causes controversial issues related to policies and the appropriate development direction. In order to provide insight into the current state of fintech, this study explores the fundamental understanding of the fintech phenomenon from the perspective of the major stakeholders (i.e., financial authorities, financial companies, IT firms) in South Korea. This study analyzed news articles, where those stakeholders expressed their arguments, by using a content analysis. The study also conducted an intensive examination of their arguments by using a core-periphery approach of social representations. This study found that while the three beholders had a common opinion on deregulation of the fintech industry, each of them had different knowledge of the phenomenon. By revealing each beholder's structure of representations of fintech, this study not only provides common knowledge regarding fintech but also explicates the perceptual gaps among stakeholders. Findings of the study offer a big picture of current fintech initiatives, which can be useful knowledge for future research on fintech.

• Journal of Information Technology Services
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• v.17 no.1
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• pp.47-58
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• 2018

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.

• International Commerce and Information Review
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• v.10 no.3
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• pp.265-290
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• 2008

Domestic industries are facing the open era as a result of signing the Korea-U.S. FTA with no exception to the financial industry. The FFA between two countries is expected to produce pros and cons for domestic financial industry. Therefore, it is very important to minimize the shock caused by opening our financial market and to adopt the advanced financial tools actively. Signing the Korea-U.S. FTA and enforcing the Integration Law of Capital Market are leading a big crisis to the Savings Banks which have been shrinking under the dramatically changing domestic financial environment since the financial crisis. To cope with financial globalization, Korean Savings Banks are demanded to build up their concrete identity and reposition their status. This is related to shaping the long-term position of domestic financial industry. Therefore, the Savings Banks must take the growth strategy for their survival, and it is an inescapable choice. Several options are available: big scale operation and diversification of business functions, reinforcement of local-focused mediating function of funds, establishment of strategic alliance with other financial firms, reinforcement of risk management system and core competence, nourishment and employment of professional manpower, and active deregulation and policy support. When the Savings Banks are refurbished as an independent local bank performing the central role of local finance, the bright future can be their destiny under the enormously changing global financial environment. Also, two more conditions need to be satisfied: to establish horizontal networks among local banks directed by cooperative Korea Federation of Savings Banks to reverse the weak scale position, and to satisfy their own peculiar niche market with internal countermeasure to face global financial networks.

• Proceedings of the KIEE Conference
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• 1997.07c
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• pp.917-919
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• 1997

Recently, electric industry confront a strategical change and high competiveness environment in the course of deregulation. Especially, rapid growth in electricity demand, financial need for new power plant construction, and environmental problems have led to search for more efficient energy production and energy conservation technologies in Korea. Due to the potential energy and cost savings, DSM(Demand-Side Management) plays and important role in the electric resource planning. In this paper, we suggest DSM potential evaluation procedures and algorithm. Also, we present screening analysis methods for DSM potential evaluation.

• International conference on construction engineering and project management
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• 2009.05a
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• pp.1015-1022
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• 2009

Currently, Korean real estate market has experienced cooling down of the business because of the global economic crisis which resulted from the subprime mortgage lending practice. In response, the Korean government has enforced various policies at the base of deregulating real estate speculation, such as increasing Loan to value ratio (LTV) in order to stimulate housing demand and supply. However, these policies seemed to result in deep confusion in the Korean housing market. Furthermore, analysis for housing market forecasting, especially international financial crisis on Korean real estate market, has been partial and fragmentary, therefore comprehensive solution and systematical approach is required to analyze the real estate and real estate financial market including causal nexus between market determining factors. In an integrated point of view, applying the system dynamics modeling, the paper aims at proposing Korean Real Estate and Mortgage market dynamics models based on fundamental principles of housing market determined by supply and demand. We also find the impact of deregulation policies focusing on mortgage loan which is the main factors of policies.

• Journal of the Korean association of regional geographers
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• v.15 no.1
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• pp.138-160
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• 2009

The urban housing market in Korea, especially in Seoul and the Capital region, has been revitalized with massive urban (re)developments and expanding real estate finance after the IMF crisis. This brought about a boom of housing price during the mid-2000s, which has been virtually stabilized by strong regulation policies of the previous government. But with impacts of the recent international financial crisis together with some inherent problems, the housing market of Korea faces with a worry of collapse in relation with the financial market volatility and the serious depression of real economy, and hence the current government attempts to implement strong deregulation policies on the housing market. In this paper it is argued that this kind of volatility of urban housing market seems to be caused by strategies of capital which involve continuous massive urban (re)development, residential segregation and appropriation of monopoly rent(or capital gain), and fictitious capitalization of real estates and integration of real estate market and financial market. In these reasons, the current tendency of urban housing price shows a slow downward, which seems to give the current neoliberal government a rationale for deregulation policies to prevent the downward tendency. But this paper suggests that such a slow downward of housing price shift would have positive effects on the housing market in particular and social and economic situations in general, and hence an alternative housing policy is required to realize such positive effects.