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Deposit insurance system in Korea

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Frame of Image ent, M Professor Advisory Jang-Bong Choi, Korea Deposit Insurance Corporation, Former President Research Management Supported by KDI School of Public Policy and Management Ministry of Strategy and Finance (MOSF), Republic of Korea Government Publications Registration Number 11-7003625-000053-01 ISBN 979-11-5545-045-1 94320 ISBN 979-11-5545-032-1 [SET 42] Copyright © 2013 by Ministry of Strategy and Finance, Republic of Korea Government Publications Registration Number 11-7003625-000053-01 Knowledge Sharing Program 2012 Modularization of Korea’s Development Experience Deposit Insurance System in Korea Preface The study of Korea’s economic and social transformation offers a unique opportunity to better understand the factors that drive development. Within one generation, Korea has transformed itself from a poor agrarian society to a modern industrial nation, a feat never seen before. What makes Korea’s experience so unique is that its rapid economic development was relatively broad-based, meaning that the fruits of Korea’s rapid growth were shared by many. The challenge of course is unlocking the secrets behind Korea’s rapid and broad-based development, which can offer invaluable insights and lessons and knowledge that can be shared with the rest of the international community. Recognizing this, the Korean Ministry of Strategy and Finance (MOSF) and the Korea Development Institute (KDI) launched the Knowledge Sharing Program (KSP) in 2004 to share Korea’s development experi


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Title Deposit insurance system in Korea
Similar Titles
Project Category Development Cases
Material Type Reports
Author(English)

Kang, Moon-Soo

Publisher

Seoul : KDI School of Public Policy and Management
Date 2013
Project Development Cases
Series Title; No Knowledge Sharing Program: KSP Modularization
ISBN 979-11-5545-045-1 94320; 979-11-5545-032-1 [SET 42]
Pages 160
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Financial Policy
Holding KDI School of Public Policy and Management
Supervisor KDI School of Public Policy and Management
Organizer Financial Services Commission(Republic of Korea); KDI School of Public Policy and Management
Sponsor Ministry of Strategy and Finance(Republic of Korea)
Project Term 2012-01-01 ~ 2012-12-31
License

Abstract

This report studies the deposit insurance system that Korea established at the end of 1995 and has operated since then. Events during the Asian financial crisis of 1997 and the global financial crisis of 2007-2008 have demonstrated the importance of effective depositor protection schemes.
This report attempts to extract lessons and suggestions that would prove beneficial to policymakers in developing countries where the adoption of an explicit deposit insurance system is considered a way of either containing financial crises, or creating one of the important pillars of modern financial safety nets in the liberalized and globalized financial system.
It is an enormous challenge for developing countries to design and operate an efficient deposit insurance system. One of challenges is to strike an optimal balance between the benefits of preventing crises in advance, and the cost of controlling insured financial institutions and customer risk-taking.(The rest omitted)

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Government Publications Registration Number 11-7003625-000053-01

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