Korea Capital Market Institute

Amid shifts in the capital market environment and evolving industry policies, the securities industry has undergone rapid structural changes throughout the 2010s. In particular, the expansion of investment banking and proprietary trading has increase...

In the prolonged low interest rate environment following the 2008 financial crisis, equity-linked securities (ELS) gained popularity among investors due to their higher returns compared to traditional deposits. As the ELS market expanded rapidly, ban...

As the sales of complex and high-risk financial products, such as Hong Kong H-index ELS and interest rate-linked DLF, have increased, the amount of damage to financial consumers due to mis-selling has also risen. Despite substantial financial losses ...

Since the Covid-19 pandemic, the demand for wealth management services has been rapidly rising among not only high-net-worth individuals but also the mass affluent. Against this backdrop, financial firms have been making multifaceted efforts to compe...

Korean securities firms began expanding overseas when Daewoo Securities, Daishin Securities and Ssangyong Securitie opened their offices in Tokyo and New York in 1984. As of 2023, a total of 14 domestic securities firms have 69 overseas branches in 1...

The growing interest in Generative AI and Large Language Models (LLMs) has recently evolved into a discussion of their potential to revolutionize productivity. In particular, Generative AI is being explored as a technology to complement high-value ta...

The discussion of introducing the E-money and Payment Institution (EMPI) has been revisited in Korea, sparking debates of pros and cons, while the issues raised so far have not been sufficiently resolved. Banks raise concerns that such an introductio...

A decade has passed since South Korea introduced its ‘comprehensive financial investment business entity (CFIBE, hereinafter)’ framework in May 2013. On this significant milestone, this paper evaluates how Korean CFIBEs have developed the...

In recent years, the escalating race to develop Artificial Intelligence (AI) and the resulting technological advancements have sparked the interest of participants in the financial services industry. Beneath this heightened interest, however, lies co...

Real estate project financing in South Korea is characterized by a unique structure marked by high leverage and ongoing financing throughout a project. A slowdown in the market and other factors leading to decreased profitability in real estate devel...

This report explores strategies for developing climate finance to achieve carbon neutrality. Even the most effective policies cannot inspire confidence and concrete actions without adequate financial support. Several international organizations estim...

As the Fourth Industrial Revolution continues to accelerate, big techs equipped with innovative ICT are increasingly entering the financial services industry. Amid their expansion into banking, insurance, securities and electronic finance sectors, ma...

As the presence of large online platform companies called big tech grows in the provision of financial services, fair competition related to big techs is emerging as a major issue in the financial services industry. A recent BIS report predicts that ...

This report intends to explore how Korea’s securities firms currently conduct foreign exchange business and present improvements and challenges for reinforcing their FX business capability. Korean securities firms’ incompetence in the FX ...

Global financial services firms are entering into the crypto assets business on multiple fronts. This stands in contrast to the previously negative stance held by these same firms regarding crypto assets. Part of this shift in attitude comes from reg...

Amid the rapid growth of the venture debt market in advanced economies including the US and Europe, venture ...

Internal controls mean an internalized version of otherwise imperfect external controls that include supervision and regulations. Developed nations such as the US and UK have long facilitated financial firms to bolster their internal controls as part...

Listed companies that meet specific size criteria are obliged to disclose sustainability-related information, starting from 2025. This paper aims to provide a conceptual framework for discussing how the sustainability reporting is to be disclosed whi...

It has been 5 years since robo-advisors were first introduced in Korea in 2016. As of the end of June 2021, the number of subscribers recorded a rapid increase over the past year and recorded 380,000, and the amount of managed assets continued to inc...

Financial Services Industry Strategy in the Era of Ultra-low Interest Rates The major economies of the world have entered a stage of ultra-low interest rates. Since the 2008 Global Financial Crisis(GFC), long-term yields on government ...

The competitive landscape and business structure of global investment banks has changed fundamentally following the 2008 global financial crisis(GFC). With the bankruptcy, acquisition or shift to bank holding companies of the leading pure investment ...

This report analyzes the aspects of FinTech leading the digitalization of finance by focusing on financial innovation and draw implications for the domestic financial industries and authorities by comparing the overseas and domestic aspects, in order...

Outsourcing, which means allowing a third party outside the company to perform activities or functions that the company has performed internally, is a strategic decision-making aimed at reducing costs, enhancing management efficiency, and strengtheni...

This paper studies the characteristics of Korean securities-based crowdfunding markets and the behaviors of investors during the crowdfunding campaigns, thereby providing policy implications as to improve the current system. Securities-based cro...

A chief executive officer (CEO) is a firm’s ultimate decision maker and is responsible for developing and executing corporate strategy and allocating resources consistent with strategic direction. In addition, ...

Since the adoption of the Stewardship Code, the question has been raised as to how much Korean Stewardship Code facilitates shareholder engagement. And what else shall we prepare more for skilled and experienced co...

Investors temporarily deposit their funds with a securities company in order to engage in transactions. Securities firms are required to keep the standby funds, i.e., investor deposits, separate from their own assets...