Fintech, Cryptoassets, and Central Bank Digital Currency in the Republic of Korea
Kwon, Ohik; Park, Jongik; Kim, Byoung-Ki | October 2019
Abstract
In this study, we describe the fintech and cryptoassets-related trends in the Republic of Korea and review the measures and assessments of the Government of the Republic of Korea and the Bank of Korea. We also provide discussion on central bank digital currency. Fintech in the Republic of Korea still accounts for only a small share of payment and settlement services, but it can induce changes in the financial industry. It is, however, unlikely that cryptoassets will become widely used and accepted in the near future, and the Bank of Korea is taking a cautious stance on central bank digital currency.
Citation
Kwon, Ohik; Park, Jongik; Kim, Byoung-Ki. 2019. Fintech, Cryptoassets, and Central Bank Digital Currency in the Republic of Korea. © Asian Development Bank Institute. http://hdl.handle.net/11540/11244.Keywords
Urban Development Finance
Trade Finance
Small Business Finance
Rural Finance
Roundtable on International Trade and Finance
Regional Development Finance
Public Service Finance
Public Finance
Project Finance
Private Finance
Nonbank Financing
Non-Bank Financial Institutions
Municipal Finance
Local Government Finance
Local Currency Financing
Limited Resource Financing
International Financial Institutions
Infrastructure Financing
Industrial Finance
Government Financial Institutions
Government Finance
Financing of Infrastructure
Financial Sector Development
Financial Regulation
Economic evaluation
Economic Forecast
Resources evaluation
Input output analysis
Cost benefit analysis
Foreign and Domestic Financing
Cybersecurity
Taxation
Public Accounting
National Budget
Municipal Bonds
Local Government
Local Taxes
International Monetary Relations
International Financial Market
International Banking
Central Banks
Business Financing
Capital Resources
Budgetary Policy
Capital Needs
Corporate Divestiture
Capital Instruments
Pension Funds
Insurance Companies
Banks
Digital
Portfolio Management
Fiscal Administration
Economics of Education
Development Banks
Scaling-Up And Evaluation
Results-Based Monitoring And Evaluation
Public Policy Evaluation
Impact Evaluation
Performance Evaluation
Debt Management
Pension Funds
Mutual Funds
Social Equity
Financial Aspects
Fiscal Policy
Corruption
Money laundering
Development Banks
Asset allocation
Investment management
Commercial documents
Credit control
Credit allocation
Capital market
Developing countries
Market share
Investment Requirements
Banks
Use tax
Taxing power
State of taxation
Tax-sales
Tax revenue estimating
Tax planning
Spendings tax
Special assessments
Tax administration and procedure
Sales tax
Real property and taxation
Progressive taxation
Effect of taxation on land use
Effect of taxation on labor supply
Intergovernmental tax relations
Inheritance and transfer tax
Energy tax
Risk assessment
Economic policy
Economic forecasting
Cost effectiveness
Participatory monitoring and evaluation
Digital currency
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