전자금융거래에 대한 FTA의 영향과 법적 대응방향

Abstract

Recently, Korea has completed free trade agreement (FTA) with EU. Many scholars anticipate this will positively affect the approvals of the KORUS FTA by the Korea and US Congress. In this article, I reviewed the outline of the KORUS FTA and the Korea-EU FTA in the light of the financial service. After analyzing the concept of the electronic financial transactions, I prospected the influence of the both FTAs especially in the realm of the electronic financial transactions in Korea. The KORUS FTA and the Korea-EU FTA declared the Contracting Parties will permit cross-border trade in auxiliary financial services, new financial services, and the cross-border transfer of information by financial institutions. And Korea would be expected to improve its regulatory transparency especially in financial service industry. And I depicted some points that Korean government and legislature should take care of in preparing follow-up measures. I argued that Korea needs to establish more effective regulatory and supervisory measures for the would-be-allowed cross-boarder financial services and the new financial services. Finally, I suggested that it will be necessary for Korea to improve its regulatory transparency and due process of law in order to pursue the goal of creating a financial hub in Korea.