Korea recently made an innovative legislation "Capital Market and Investment Services Act(CMISA)" to stimulate capital market growth. The CMISA transform from the current institutional supervisory system to the functional supervisory system. It enhances investor protection provisions, preventive mechanism for interest trade-off among different businesses.
These studies present to us that policy underline not reforming banking led-financial system to be a capital market-led financial system but improving quality of financial infrastructure related with capital market and financial system. This means Korean system demand reconstruction through improving present regulatory quality and strengthen the competitiveness as a result of market transactions. For this, financial regulatory measurements like as protection of investor, governance regulation, property management regulation should be applied discriminately based on the risk level of financial
institutions and banking regulator perform open and aboveboard supervision without exception. Financial institution also keep strengthening their own control and monitoring.
According to 2007 Doing Business reported from World Bank, Korean ranked 67th in property protection, 60th in investor protection, and 21th in the credit access among total 175 countries. Therefore, Korean government should extend the right of access to credit loan and strengthen
legal measurements to protect investors like stockholder and creditor.
주요국 금융규제개혁에 관한 비교연구(A comparative study on the regulatory reform in finance of the principal countries)
|Subject Country||South Korea(Asia and Pacific)|
|Subject||Economy < Economic Administration|