| Financial deregulation and internationalization which started in1970’s broughtabout the tendency of integrated management in the finance industry. Along with theglobal proliferation of financial deregulation and innovation, internationalization,many of leading financial companies through adapting integrated management modelachieved both quantitative and qualitative improvement. Financial deregulation andinnovation made customers’ needs much more complicated and various, so financialcompanies in order to cope with the requirements adapted integrated managementpolicies. Unlike its long history, its worldwide and full-scale advent was in1999, USgovernment approved to establish financial holding company. After the financialholding companies emerged in US, the paradigm in financial industry was perfectlychanged, almost every major financial companies adapted financial integratedmanagement model, and which already became a trend that cannot be avoided.In Asian countries except for Japan, the financial industry still at primary level, sotheir asset size is small. China the most important county in Asia still persists tomaintain the separated financial business model but along with the open markettendency in the near future will inevitably approve financial integrated managementmodel. So China firstly has to analyze the models of financial integrated management,find out the most suitable model in China, after that refer to the experiences ofneighboring countries so that China positively impose the new business model.Korea was the first country in Asia which imposed the financial integratedmodel and already has over ten year’s experiences. Although Korea and China havedifferent economic environment, both of them experienced same state-led economicgrowth. Korea used the same financial strategies while the developing period, but after90’s adapted integrated model, achieved lots of improvement. Therefore it would behelpful China to set up the future plan of finance industry to refer to the process ofimposition and development of Korean financial holding companies in last10years.The first chapter is introduction. From the point of financial companies’worldwide upsizing and business integration tendency, introduce the researchbackground and purpose, literature review. After that describe the research method and framework, this research’s probable innovations and shortages.The second chapter is general analysis on financial holding company businessmodel. This chapter mentions about the effects of financial integration have achieveduntil now in detail, explains the strengths and weaknesses, the countermeasures thatfinancial holding company system has brought.The third chapter is the analysis on the background and the processes ofdevelopment of Korean financial holding companies. This chapter illuminates how theforeign integrated business management influenced Korean financial system andwhat the1997financial crisis in Asia has brought to Korea. Also intensivelyintroduces the background and the processes of Korean financial holding companies.The fourth chapter analyzes Korean financial holding companies’ features andpresent problems and countermeasures. In the first place, analysizes the achievementsafter Korea executed financial holding company system and the initial goals wereachived or not. Afterwards researches the featues and the present problems caused bythe changing economic environments and also the solutions.The fifth chapter points out the implications for China. Although Korea andChina have different kinds of economic system, but both of them have state ledindustrialization and export oriented rapid economic growth experience, and in thoseprocesses have lots of familiar parts. As a result China would find out someimplications for herself from the experiences of Korea which adapted financialintegration earlier than China.The last part is conclusions. It is the generalization of this research, pointing outthe weaknesses of the paper and the directions of the further research. |
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