국내은행의 합병과 경쟁력 강화방안에 관한 연구

Abstract

The purpose of this thesis is to suggest the strengthening plan for competition power of Korean banks after analyzing the Korean bank M&A in terms of theoretical and historical point of view, and advanced countries' case study. This thesis researched the literature on the subject published from Korea. Since foreign exchange crisis in 1997 the Korean banks suffered generally sudden change. For responding that situation, M&As in Korean banks were enforced by government and IMF. The fundamental motives of the merge is to achieve the efficient management, improvement of competitiveness, the economy of scale/scope and diversification of businesses. The major findings of this paper is as follows: First, the bank M&As in Korea can be classified into 3 periods: bank M&As during 1920-1940, bank M&As between Seoul Bank and Korea Trust Bank in 1976, bank closing and M&As after financial crisis in 1997. The historical perspectives on the bank M&As after 1997 are as follows: ① Korean government has taken the measure of bank M&As compulsorily under the special situation of financial crisis, ② The bank M&As have been done only by the standard of BIS and policy planner's intention, ③ Among the type of bank M&As, M&As for relief of unsound banks have been taken, ④ among the bank M&As, some (the cases of Hanvit Bank, and Hana Bank) has shown the same quality and others (the cases of Kookmin Bank, and Choheung Bank)have shown the different quality. And these same and different quality made the effects of bank M&As opaque. Second, M&As between banks is an reformative action for development of the banking industry and will arouse many unexpected problems during the course. Since the purpose of M&A or a vision for long-term development of banks may be the justification in paving the way for solving out those problems, it should be clarified to related parties and banks' customers. Third, if cultural conflicts arising from unification of organization are not overcomed in a timely manner, members of the organization will lose confidence in each other resulting in disorganization. Therefore, countermeasures should be taken into consideration. Fourth, there are economies of scale and scope in Korean bank M&As. However, megamerger is recommended by the voluntary market power not government- controlled way. The strengthening plan with policy implications on Korean bank M&As for this thesis are as follows: First, transparency and efficiency should be enhanced for international competition power. Second, some procedural rules should be created for clarifying the rights and liabilities of the related parties in the bank merger processes. Third, strengthening plan in terms of performance is as follows: benching marking strategy from foreign banks, stable strategy for the market trend change, new management and organization strategy, strengthening the risk management team, strengthening the power of board of directors, profit-seeking growth strategy in the deposits, new decision making process for loans, strengthening management performance, and new personnel and education systems. Fourth, strengthening plan in terms of system improvement is as follows: maximization of merger effects, introduction of bank holding company, improvement of ownership and governing structure, improvement of withdrawing structure, improvement of management incentive, strengthening the government role as the big stock holders, job type specialization among the banks, establishing the judging standard for bank M&As, and strengthening the supervision for bank soundness.