인터넷전문은행의 설립에 따른 법적 과제

This article is intended to review legal issues in relation to introduction of an internet primary bank in Korea. An internet primary bank is defined as a bank without branches or offices or a bank with a few branches or offices. Because of this characteristic, more focus is so put on a technology in the business of an internet primary bank that this subject is so often discussed in relation to 'FinTech,' referring to a convergence of finance and technology. The Financial Services Commission ("FSC"), a relevant government commission, finally announced an introduction of an internet primary bank in June 2015. The FSC gave a final license to one applicant in December 2016, and another application is being reviewed by the FSC. The introduction of an internet primary bank in Korea is expected to enhance competitiveness to th banking industry, whose market is regarded as oligopoly. This article analyzes the relevant legal issues and suggests some improvements. First, in relation to definition of an internet primary bank, this article suggests that an internet primary bank should be allowed to have a few branch offices to serve customers in person. Second, an internet primary bank should be permitted to choose the methods of non-face-to-face confirmation of customers' identification, rather than adopting the designation of non-face-to-face confirmation methods proposed by the FSC, and such methods should be inserted in the relevant law or enforcement decree. Third, as to a keen controversial issue on whether non-financial companies or group should be allowed to become a controlling shareholder of an internet primary bank, this article takes a strong position that such companies should not be a major shareholder because such permission may lead to negative effects, including an abuse of their power in terms of credit extension to them because they are demanders of bank credits. Fourth, a minimum capital amount for the establishment should be decreased because it would be a small scale bank in terms of the size and staff. Fifth, in terms of the scope of banking business, this article argues that an internet primary bank should be permitted to engage in the same business as other commercial banks do, and legal obstacles for this should be cleared. Finally, this article strongly suggests that the FSC should take a position to open entry barriers to establishment of a new commercial bank, in addition to an internet primary bank, for the purpose of promoting competitiveness in the banking industry.