인터넷전문은행 도입에 따른 법적 쟁점에 관한 소고- 금산분리 완화 문제를 중심으로 -

Abstract

Internet Only Bank, which has been recognized since 2017, is a bank that trades online and has many advantages that ordinary commercial banks do not. In other words, Internet Only Banks received a lot of attention from the start because of the advantages of price competitiveness, such as low loan interest, high deposit rate and cheap fees, and of low time and location restrictions for financial transactions. However, K-Bank and Kakao Bank, which received approval from Internet Only Banks, soon met with difficulty in securing enough capital and came to expect investment from industrial capital to resolve these difficulties. However, among the various limitations of the Banking Act, the Principle of Separation of Finance and Industry, which limits the union of industrial capital and financial capital, has been an obstacle to the expansion of capital of Internet Only Banks. As a solution, the National Assembly enacted the "Special Act on Establishment and Operation of Internet Only Banking(IOBA)". The Act(IOBA) opened the way for industrial capital to own up to 34% of the total number of shares issued by banks, and Internet Only Banks had the opportunity to supplement their capital. The Act(IOBA) also stipulated that the restriction or prohibition of providing credit to major shareholders or chaebol corporation should be imposed because of the problems that would result from alleviating the principle of separation of finance and industry, and that the expedient provision of credit to major shareholders or unfair support to major shareholders is prohibited. The reason why the Banking Law separated the industrial capital and financial capital and prevented them from investing in each other in recognition of the principle of separation of finance and industry was to prevent banks from turning into private safes for chaebols through ownership of banks. The Special Act on the Establishment and Operation of Internet Only Banking (IOBA), as an exception to this Principle of separation and finance and economy, opens the way for industrial capital to invest capital in banks. However, the regulatory framework of separation of finance and industry is a rare example even in foreign law, which could hamper the revitalization of the financial market through a combination of finance and industry. Because of this, laws and regulations should be created and modified to mitigate separation of finance and industry in line with global trends. For this reason, it is necessary to abolish or reduce excessive regulations on the domestic financial industry and to organize redundant regulations under the current financial law related to the separation of the financial industry. In addition, the laws related to domestic financial holding company should be organized and the concept of industrial capital company that can be invested in the financial market should be clarified in order to prepare to mitigate the separation of finance and industry or to allow the union of the finance and industry in the future.