인터넷전문은행 제도 도입의 법률적 과제

Abstract

Internet primary banks or internet only banks are a result of the electronic banking phenomenon. Electronic banking, also known as electronic fund transfer, is the use of technological methods to provide financial services to consumers and businesses. It includes services such as automated teller machines(ATM), telephone banking, the use of debit and credit cards, smart cards, and internet banking. Internet primary banks are a species of electronic banking and have been the result of the importance and growth of electronic cash. The internet primary bank system is a different concept from a internet banking currently operated by general commercial banks. Internet banking has now become a separate business, apart from its brick and mortar ancestors. Internet primary banks also offer a variety of services at more economical costs to the bank because as a result, internet primary banks either have no off-line branches or have only a few. These new internet primary banks have obvious advantages, such as no branch maintenance, fewer personnel costs, no paper, and no time and place limitations. Internet primary banks are able to stay in business because of their amazing cost savings infrastructure(or lack thereof). However, the most obvious drawback for internet primary banks is the fact that customers must deposit checks and cash through the mail (in case of the United States) or the ATM, an unacceptable feature for many people. Under the circumstances, Korea attempts to change the Banking Law in order to introduce the new internet primary bank system in the country. However, there are still some legal issues to be in advance solved for the sound and new banking system with internet primary banks. In particular, this paper reviews some legal perspectives for introduction of the internet primary bank system in Korea, such as bank entry conditions, bank minimum capital, commercial banks' ownership by companies mainly engaged in non-financial activities, real-name financial transaction system, scope of bank business, etc. Regardless of what the critics say, it is expected that Korea will adopt the internet primary bank system near soon through the amendment of the Banking Law even though whether the National Assembly could pass the bill is not currently clear at this time. Korea has its regulatory experiences with conventional banks, but no experiences with internet primary banks. Though the legal issues anticipated in internet primary bank operations are similar, with some exceptions, to those already experienced by traditional banks offering internet banking services, it should be noted that internet primary banks are banks in their own right. In conclusion, it is important and more desirable for better regulations and supervision of internet primary banks in Korea that Korea needs to consider and relies on the experiences of regulators in the other jurisdictions such as the United States, Japan or Hongkong.