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E-finance development in Korea

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  • E-finance development in Korea
  • Ahn,Choong Yong; Yang,Doo Yong
  • Korea Institute for International Economic Policy
Contents

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Title E-finance development in Korea
Similar Titles
Material Type Reports
Author(English)

Ahn,Choong Yong; Yang,Doo Yong

Publisher

[Sejong, South Korea] : Korea Institute for International Economic Policy

Date 2004-07
Series Title; No Working Paper / 04-04
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Original Format pdf
Subject Economy < Financial Policy
Holding Korea Institute for International Economic Policy
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Abstract

E-finance in Korea has evolved since the late 1980s, when developments in information and telecommunication technology started to be applied to the financial industry. Since the 1990s, e-finance has led a paradigm shift in the financial industry as financial transactions in computer-based tools began increasing. There are several factors that contributed to e-finance development. Korea possesses the basic requisite conditions to foster thriving e-finance, including an advanced IT infrastructure, several government e-commerce initiatives and financial restructuring resulting from the financial crisis. In fact, all of these factors have eliminated possible impediments to the development of e-finance in developing countries. (The rest omitted)