농협 예금보험제도의 발전방향에 관한 연구

Abstract

The insolvency and bankruptcy of Financial Institutes which was occurred during Foreign Exchange Crisis in 1997 brought serious state that threatened the stability of not only whole financial system but also national economy. The Korean Government carried out severe restructuring of some insolvent financial institutions, and re-established the ‘Depositor Protection System’ in order to stabilize the financial system. Through these series of processes, the interest on the ‘Depositor Protection System’ as a way of financial system stabilization started growing in Korea. Deposit Protection Insurance System on ‘Mutual Credit of Agricultural Cooperative’ was initiated in January of 1998 under the ‘Agricultural Cooperative Law’. Furthermore, the Deposit Protection Fund has been applied until now according to the ‘Agricultural Cooperative Model Development Law’ which was enacted in 2001. After the enforcement of the ‘Agricultural Cooperative Model Development Law’, the NACF have liquidated 81 insolvent cooperatives through merges and contract transfers in order to get rid of the uncertainty and to increase the sound development of management. Furthermore, as the Deposit Protection fund is reaching 549 billon Korean won as of the end of 2006, it is evaluated that the function & efficiency of the depositor protection has been all the more strengthened. However, the environment around the Korean Cooperatives is getting worsen the profitability of multi-purpose agricultural cooperative and threatening the sustainable growth of mutual credit. It is needed to increase the competitiveness of multi purpose agricultural cooperatives, and as a way of the sustainable development of Mutual credit the interest on building the ‘Depositor Protection System’ is growing as well as the strong restructuring such as a merger. Therefore, this study is to find some suggestions in the development of mutual credit depositor protection system through careful reviews of issues such as the definition, the protection limit, decision making on premiums, and the appropriate amount of the fund. It is desirable if these suggestions could be contributed to the sound functioning of ‘Mutual Credit Depositor Protection System’, which is in its early stage, as a safety net for ‘sustainable development of whole agricultural cooperatives’ as well as the ‘depositor protection’.