현행 금융 분쟁 해결제도에 관한 법적 연구

For resolving financial disputes, an alternative dispute resolution system (the “ADR”), such as conciliation, mediation and arbitration, in addition to a litigation system by a court, may be used. The ADR system is evaluated as more beneficial one than the litigation system in terms of time and costs for resolving or settling disputes. Among the ADR system, in Korea, the conciliation system has been mainly and actively operated in the matters of financial disputes. Under the financial dispute conciliation system, the financial institutions and financial consumers concerned come to an agreement settling the relevant disputes, through reasonable adjustments arranged by the Financial Dispute Conciliation Committee (the “FDCC”), a committee established under the Financial Supervisory Service. However, the current financial dispute settlement system are assessed to have some drawbacks, among others, including the following: first, the system for settling financial disputes consists of the diversified settlement agencies so that it leads to less efficient system; second, the FDCC as the dispute resolution agency lacks the independence and professionalism; third, the rate of the FDCC’s conciliation proposal being accepted by either party is low; and fourth, the “collective financial dispute resolution procedure system” is not being operated. Therefore, this article suggests some improvements as follows: first, an independent and professional dispute resolution agency should be established; second, the FDCC’s conciliation proposal accepted by the party of financial consumers should be legally binding on the financial institutions; third, the arbitration system needs to be introduced in the financial dispute settlement system; and fourth, the “collective dispute resolution procedure system” should be also introduced.