- PII
- S013207690005262-0-
- DOI
- 10.31857/S013207690005262-0
- Publication type
- Article
- Status
- Published
- Authors
- Volume/ Edition
- Volume / Issue 6
- Pages
- 96-101
- Abstract
The article states that in 2015 the South Korean government approved the concept of the Internet bank (internet primary bank). Internet banking is a bank that runs an online banking business without a physical banking office. K-Bank became the first Internet bank in South Korea to be approved by the Korean Financial Supervision Service. In 2017, an attempt was made in South Korea to amend the Banking Act to weaken the principle of separation of financial and industrial capital. But then this attempt did not receive support in the National Assembly. It was concluded that despite the huge ICT infrastructure in South Korea and its technological capabilities, at present the financial regulatory environment does not contribute to supporting innovative business models and financial technologies that should become the new growth engine for the Korean banking sector.
- Keywords
- South Korean law, financial system, financial services, Bank of Korea, fintech technologies, online banking
- Date of publication
- 14.06.2019
- Number of purchasers
- 95
- Views
- 4269
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