韓國產業銀行民營化轉型案例分析

Case Study Research in KDB Privatization Reshaping

為探討政策性銀行演變，本文根據韓國產業銀行民營化案例，分析韓國政策性銀行融資方式的變化與韓國產業銀行取消民營化的原因。本文發現，韓國產業銀行對於韓國產業發展具有密切關聯；換言之，韓國產業銀行具有協助韓國產業發展的「追趕效果」。但又因韓國政府的更迭，導致韓國產業銀行結構的調整，此也與其他文獻結果一致。除政治因素外，本文認為間接融資的效率不彰與2008 年金融海嘯後的金融自由化減緩，也是韓國產業銀行民營化取消的原因。此外，我國與韓國高度競合關係，韓國產業銀行案例的發現，將可供我國產業融資與金融發展策略參考。

To investigate the evolution of policy banks, this study analyzes the fund channel changing in Korean policy banks and discusses the reason in the Korea Development Bank (KDB) privatization based on the KDB case study. We find that KDB for Korean industrial development is closely related. In other words, there is catch up effect in Korean industries due to KDB. However, KDB is restructured because of the changing of the President in Korea. It is also consistent with the literature. In addition to political influence, two reasons also cause the KDB privatization reshaping. One is the inefficiency in the on-lending and the other is the mitigation of financial liberalization after 2008 financial crisis. Besides, there are high competitive and cooperative relationships between Taiwan and Korea. So the implications from the KDB case study are beneficial to the industrial funding and financial development in Taiwan.