일제강점기 일본인의 은행 경영과 식민지 주주자본주의-1920년대 경상공립은행의 설립과 경영-

Abstract

This paper have two goals. The first goal is to examine the founders, the establishment process, the management fluctuation, and the relationship with the Japanese government-general of Korea of Gyungsang Public Bank(GPB). The second is to make it clear that the case of GPB is nothing but so-called shareholder capitalism because GPB was faithful only to the interest of shareholders. This is different from research results which existing studies have stressed on financing for colonial development. The results of this paper are as follows. Firstly, Founded in July 1920, GPB was a purely Japanese bank in the sense that most of its shareholders were from Kagawa Prefeture Japan. If we take into consideration that many banks have Korean and Japanese shareholders commonly, the case of GPB was a rare one because GPB consisted of only Japanese shareholders. Secondly, Masakazu Miyai, who led the establishment of GPB, amassed a fortune from money-lending business, pottery manufacturing, warehousing, financial business, rice-cleaning business. Also, he was famous as a rice dealer in Daegu. Miyai’s path of wealth accumulation was true of the Japanese wealthy people in Daegu at that time. Thirdly, GPB existed exactly for 10 years since its establishment in July 1920 until the approval of its merger with Gyungil Bank in September 1930. Instead of thinking about the public nature of the bank, Miyai focused on only making money thoroughly. GPB appreciated secured property offered by borrowers very conservatively and lent at most about 60% of appraised value. Loans were also made centering around bill discount and loans on bills, which guaranteed high commissions. Miyai tried to quit banking and go back to Japan when monitoring on banks became strict since revision of bank act in 1929. He could not manage GPB like a money lender under the new reinforced regulations on banking. It was the reason why Miyai responded positively the offer of acquisition to Gyungil Bank by Chosun Bank, which was the central bank of colonial Korea. In conclusion, GPB’s case was the typical case of so-called shareholder capitalism.