Korea Institute of Finance

Financial Research Brief

26-13 July 18, 2026

Enhancing the Regulatory Framework to Safeguard Corporate Bond Investors

Retail investors in the corporate bond market face heightened vulnerabilities due to information asymmetry and limited bargaining power. They also tend to purchase lower-rated corporate bonds that are often avoided by institutional investors, leaving them more exposed to credit risk. Amid rapidly growing retail participation in Korea's capital markets, recent regulatory reforms have focused primarily on the equity market, while the corporate bond market has received relatively limited policy att...

Financial Review Young Kyung Lee

Hong Kong's Stablecoin Initiative: A Pragmatic Approach Centered on Use Cases, Adoption, and Synergies

Policy Issue in Focus Mansoo Jee

Asset Composition of Major Global Banks and Korea's Top 4 Banks: A Comparative Analysis and Policy Implications

Policy Issue in Focus Seok Ki Kim

Policy Priorities for Safeguarding Financial Security in the Age of AI Agents

Policy Issue in Focus Christopher Byungho Suh

FSC Unveils Agenda for Inclusive Growth and AI Innovation, July 2026 (FSC)

News Briefs KIF

The Role of Shared Growth and Inclusive Finance

Can inclusive finance generate a virtuous cycle of shared growth by simultaneously improving economic growth and income distribution? According to the World Bank (2020) and the Organisation for Economic Co-operation and Development (2019, 2023), constraints on financial access exist in both developing and advanced economies, posing a threat to economic growth. In advanced economies in particular, while average financial accessibility has improved, polarization in financial access has intensified...

20260529 Jabonn Kim

Dividend Payment Frequency and Systematic Risk (Beta): Evidence from Korean Listed Firm

This study empirically examines the relationship between dividend payment frequency and the systematic risk (beta coefficient) of Korean listed firms. Using an unbalanced panel dataset comprising 10,715 firm-year observations for 1,640 non-financial firms listed on KOSPI and KOSDAQ from 2010 to 2024, we employ panel OLS regression alongside quasi-experimental approaches including difference-in-differences (DID) and propensity score matching (PSM). The analytical framework draws on information si...

20260529 Taiki Lee, Woojin Kim

The Potential Impact of Stablecoin Adoption on the Share of Credit Card Payments

This report analyzes the expected adoption and usage of KRW-denominated stablecoins and their potential impact on existing payment instruments, if introduced as a new means of payment in Korea’s retail payment market. To this end, the study conducts simulations using a discrete choice model, varying the magnitude of discount promotions and merchant acceptance rates from 10% to 90%. The results suggest that a merchant acceptance rate of around 70% or higher would be necessary for stablecoins to ...

20260528 Jinsoo Bae

The Introduction of the Responsibilities Map: Effects and Policy Recommendations

Designed to establish clear accountability within financial institutions, the Responsibilities Map aims to fortify internal control systems and elevate trust in the Korean financial sector. To ensure the framework's successful institutionalization, this report identifies key areas for improvement based on insights from compliance officers across banks and bank holding companies. The study indicates that while the initiative has yielded meaningful changes?such as elevating organizational awaren...

20260521 Jeong Ho Suh

Corporate Lending and Productive Finance ― Focusing on Firms' Productivity and Resource Allocation Efficiency ―

This paper analyzes the extent to which the unusually rapid increase in domestic corporate lending over the past decade (2015?2024) has contributed to productivity and the efficiency of capital allocation. To this end, it (1) identifies how firms have utilized external funds raised through financial institution loans, and (2) examines how such loan usage has affected productivity and resource allocation efficiency at both the firm and industry levels. Based on these findings, the paper presents...

20260520 Yong-Sang Shyn

Enhancing Financial Consumer Protection via Debt Resolution Framework in Cambodia

The study analyzes policy measures to strengthen financial consumer protection in Cambodia by enhancing the debt resolution framework amid rising household indebtedness and increasing potential risks to financial system stability. Through a comparative analysis of international practices?including Thailand, Brazil, Malaysia, and Korea’s Credit Counseling and Recovery Service (CCRS)?the study confirms that debt restructuring, counseling services, and coordinated inter-agency mechanisms constit...

20260513 Sreyleak MON, Seok Min Yeom