| Policy Proposal for National Financial System Infrastructure Resilience: The Role of the Busan Financial Center |
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Won Ik Kim, Soon Hyun Seong, Ho Sun Lee |
| 위기상황 하에서의 금융시스템 운영을 위한 정책 제언 |
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김원익, 성순현, 이호선 |
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| Abstract |
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Despite Busan having been selected over five years ago as the venue for the financial center, the city has yet to become widely known as a financial center. One reason is the concentration of the nation`s financial business in Seoul and its surrounding metropolitan area. This concentration raises some concerns, meanwhile, that a severe disaster occurring in Seoul could bring about a long and wide-scale disruption in financial services across the entire nation. Therefore it is extremely important for the financial sector to establish a sound Business Continuity Plan (BCP) in anticipation of various types of disasters, so as to ensure ongoing operation of the financial system as a whole under any circumstances. We suggest that Busan can be the main center for setting up of a nationwide financial system BCP, and that expanding the role of Busan as the financial center could help to enhance the safety of the national financial system infrastructure. There are several tasks that can be realized in the short and medium-term, such as the hosting by Busan of a secondary joint operation site for financial firms and of backup sites for systemically important payment and settlement systems. These are aimed at strengthening the mutually supportive relationship between Seoul and Busan, which will require sufficient support from both the central government and Busan metropolitan city. |
| Key Words:
금융시스템,백업센터,부산 금융중심지,영업연속성계획,위기상황,Backup Center,Busan Financial Center,Business Continuity Plan,Financial System,Resilience |
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