• International Commerce and Information Review
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• v.16 no.2
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• pp.47-67
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• 2014

Since the global financial crisis, criticism against the integrity of financial institutions proposed new financial regulations such as Basel III. These systems are expected to have impacts multilaterally on management and structure of mid- and long-term financial industry. It is also believed that financial institutions will inevitably review business model to respond to these enhanced regulations. The ongoing global financial regulation pursues regulation scope extension, introduction of global regulatory capital system, introduction of global liquidity, etc. As for quantitative index, Basel Committee on Banking Supervision is promoting QIS which is discussed mainly on implementation time from the juridical point of view. This study aims to present domestic banking industry's structural changes depending on regulation enhancement of foreign countries after global financial crisis, and suggest strategy that improves competitiveness of products. Looking at the research result, global financial regulation requires compliance with the regulations through treaties but it shows negative time center around banks. Furthermore, it is also pointed out financially advanced countries' passive attitude on regulation enhancement is problem. Therefore, regulations differentiated between developing and developed countries, dualistic regulations on financial industry, participation of advanced nations, etc are the postulation to change the structure of financial industry.

• Journal of Electrical Engineering and Technology
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• v.9 no.4
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• pp.1154-1162
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• 2014

In the restructured electricity market, Performance-Based Regulation (PBR) regime has been introduced to the distribution network. To ensure the network stability, this regime is used along with quality regulations. Quality regulation impose new financial risks on distribution system operators (DSOs). The poor quality of the network will result in reduced revenues for DSOs. The mentioned financial risks depend on the quality indices of the system. Based on annual variation of these indices, the cost of quality regulation will also vary. In this paper with regard to reclosing fault in distribution network, we develop a risk-based method to assess the financial risks caused by quality regulation for DSOs. Furthermore, in order to take the stochastic behavior of the distribution network and quality indices variations into account, time-sequential Monte Carlo simulation method is used. Using the proposed risk method, the effect of taking reclosing time into account will be examined on system quality indicators and the cost of quality regulation in Swedish rural reliability test system (SRRTS). The results show that taking reclosing fault into consideration, affects the system quality indicators, particularly annual average interruption frequency index of the system (SAIFI). Moreover taking reclosing fault into consideration also affects the quality regulations cost. Therefore, considering reclosing time provides a more realistic viewpoint about the financial risks arising from quality regulation for DSOs.

• International Journal of Computer Science & Network Security
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• v.22 no.4
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• pp.67-72
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• 2022

The main purpose of the study is to analyze the main aspects of state regulation of the banking business in the context of social and digital transformation. One of the key elements of the functioning of the economy of any country are banks that ensure the redistribution of financial resources and stimulate economic growth. However, the banking sector, like other activities, is dynamic and depends on the pace of development and forms of technological progress that affect the forms and types of information and digital technologies, as well as the globalization and remoteness of banking services. Accordingly, the need for effective implementation of the latest technologies becomes relevant, which will not only help increase consumer satisfaction with the banking product, but also ensure the development of the country's financial sector. As a result of the study, trends in the development of state regulation of the banking sector in the digital economy were identified.

• The Journal of the Korea Contents Association
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• v.16 no.8
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• pp.10-19
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• 2016

In this paper, I evaluate national and regional policies for financial centers and Busan Fiancial Center and find the way of the future development of Busan Financial Center. And I found that national policies for financial centers was focused on general improvements of financial industry, so a little tasks for Busan Financial Centers were listed. Therefore I suggest that central government should have more national policies for enhancing Busan Financial Center and promoting participation of private financial firms. And I propose the broader incentive schemes for financial firms moving to Busan, and expect that combining national deregulation policies like Regulation-Free Zone and Regulatory Sandbox and Moonhyun-North Port financial free zone and FinTech cluster plans of Busan will make a big progress of Busan Financial Center.

• The Journal of Society for e-Business Studies
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• v.23 no.4
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• pp.87-107
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• 2018

In March 2017, the State of New York became the first state to implement regulation specific to cybersecurity for financial institutions. Unlike previous regulations regarding information security, it has set a minimum requirements to establish cybersecurity program based on risk assessment results, protect Nonpublic Information, designate of CISO, and report to regulatory entity. This paper presents a need for a new cybersecurity policy in Korea by examining newly adopted cybersecurity regulation in the United States. Finally, the paper identify policy suggestions based on the United States's approach as they have successfully implemented the program.

• The Journal of Fisheries Business Administration
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• v.42 no.3
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• pp.95-107
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• 2011

The Comprehensive Measures for a soft landing of Household Debts affecting the credit service of Fisheries Cooperative (FC) have been known to the public in June 2011. Its essential points are as follows: 1) Abolition of Tax-free Regulation, 2) Set limit of loans, etc. per person, 3) Introduce leverage regulations for credit-specialized financial sector i. e. FC, 4) Gradually strengthen loan-loss reserve requirements for card-loan and other credit loans. However, the Financial Policy Measures seem to pay no attention to the Cooperative's Values, Principles and Identity. In this paper, emphasis is be placed on the task of the regulators i. e. Financial Services Commission and Financial Supervice Service to lift the Financial Measures negatively affecting the operation of fund of FCs, and on the establishment of Cooperative identity in order to further develop FCs.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.15 no.1
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• pp.460-465
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• 2014

The Financial Supervisory Institution constantly has tightened the regulation for secure electronic financial service. Information Security Consulting and Service companies are not enough to cover about 4,500 financial institutes required to comply with the regulation, and the Financial Supervisory Institution also suffers from work overload. The demand for real-time work of risk management is getting stronger. Compliance with the regulation has to be attempted with technical approach so that requirement, implementation, monitoring, and supervision are efficiently performed. And, articles have to be concluded with compliance management service. In this research used compliance management framework and IT GRC process model, have to be designed compliance management lifecycle and 34 index.

• Journal of the Korea Institute of Information Security & Cryptology
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• v.29 no.5
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• pp.1191-1204
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• 2019

In January 2019, the government revised the regulation on electronic financial supervision to revitalize the use of cloud in the financial sector. However, as cloud policies and regulations cloud undermine financial firms' autonomous security activities or restrict some of the people's basic rights, there has been little movement in the financial sector to use important information as the cloud. In addition, the data localization policy, which requires important information to be kept only in Korea, is a representative regulation that prevents the revitalization of cloud use, which also creates discrimination problems for overseas operators. Therefore, policy and regulatory improvements are needed to enable the cloud to provide a foundation for digital financial innovation through data. This study looked into the current status of cloud policies for domestic and foreign financial companies and analyzed policies and regulations for domestic financial companies. Through these efforts, the government aims to draw up limitations and problems in cloud policies for domestic financial companies and propose policy alternatives, such as measures to improve regulations on localizing data for financial companies to revitalize their use of cloud.

• Asia-Pacific Journal of Business
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• v.15 no.1
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• pp.239-256
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• 2024

Purpose - The purpose of this study was to examine the main determinants of the gap between housing demand and house affordability. Design/methodology/approach - This study used the micro-level data of 60,043 households from Korea Housing-Finance Corporation by covering the period 2011 to 2022. Findings - First, the trend of general housing demand showed a higher figure in the future demand than in current demand. And such a tendency showed in all types of households, a relative young, low income, and single households. In the case of current housing demand, it has increased by 2022 from the beginning of 2013, while the future demand has rapidly increased from 2020. Second, although the house affordability showed a higher figure in current housing demand by 2019, its trend changed to be higher in future housing demand from 2020 by a rapid decreasing affordbility in current demand. In the case of young householders, the current house affordability was higher than that of future. The figure of low income householders was below 1 point in both periods, and house affordability of single householders showed a similar level in both periods. which showed over 1 point. Third, financial regulation on housing markets induced th widening of the gap between housing demand and house affordability, and such a trend is much atronger in the future(potential) gap of demand and affordability. More specifically, the strengthen financial regulation leaded to the widening of the gap in all types of households, a relative young, low income, and single households. Research implications or Originality - The effect of financial regulation is necessary to consider under the features of each households.

• Journal of the Korea Institute of Information Security & Cryptology
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• v.27 no.4
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• pp.885-895
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• 2017

Security issues arise due to various types of external intrusions as much as the rapidly changing IT environment. Attacks using vulnerabilities in web applications are increasing, and companies are trying to find the cause of the vulnerability, prevent external intrusion, and protect their systems and important information. Especially, according to the Supervision Regulation, each financial institution and electronic financial service provider shall perform vulnerability analysis evaluation for the website for disclosure once every six months and report the result to the Financial Services Commission. In this study, based on the Web vulnerability items defined in the Supervision Regulation, based on the inspection cases of actual financial institution, we analyze the most frequently occurring items and propose effective countermeasures against them and ways to prevent them from occurring in advance.