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여신전문금융산업의 특성과 발전방안(Features and development directions of the credit specialized financial sector)

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Title 여신전문금융산업의 특성과 발전방안(Features and development directions of the credit specialized financial sector)
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Material Type Reports
Author(Korean)

이덕훈; 최범수

Publisher

[서울]:한국개발연구원

Date 1997
Series Title; No 연구보고서 / 96-13
Pages 179
Subject Country South Korea(Asia and Pacific)
Language Korean
File Type Documents
Original Format pdf
Subject Economy < Financial Policy
Holding KDI; KDI School

Abstract

The study examines the key features of the credit-specialized financial sector, distinguished from the conventional financial industry, and aims to propose directions for further development.
The credit-specialized financial sector refers to a specific financial segment specialized in credit lending without taking deposits from its customers, such as leasing, installment financing, credit cards, new technology financing, and venture investment. The sector creates new demand for new types of financial services that are not fulfilled by the conventional financial industry, and therefore high growth is anticipated in this area. However, some credit lending businesses, such as leasing, installment financing, credit cards, new technology financing and venture capital have failed to determine a firm position in the financial institution, making them to develop different features from conventional financial institutions. The sector is also strictly regulated by a different set of laws which is further slowing its advancement, compared to other established banking systems, securities, and insurance businesses. Furthermore, as the market opens to overseas companies, the competitiveness of domestic financial institutions is being threatened.
As demand for financial services expands, the proportion and the role of the credit-specialized financial business will grow. In order to promote Korea’s credit-specialized financial business, it is necessary for relevant institutions to be improved, based on a clear understanding of the nature of the financial industry, and the benefits of the financing should be made available customers. Also, credit distribution should be made more efficient, so that retail financial services can be delivered in a stable and efficient manner.