Financial Behavior over the Recent Decades in South Korea: A Review

다국어 초록 (Multilingual Abstract)

This article attempts to offer a review of the modern consumer finance in South Korea. Exploring relevant regulatory changes, financial business transformations, and consumers’ financial behavior shows some major trends such as liberalization and universalization of consumer finance businesses, and increased access to formal financial products and services, yet partially actualized use of diverse financial instruments by consumers. Households’ savings and borrowings and their reported planned uses are also summarized. Other relevant aspects at the intersection of consumers and providers are also discussed based on the recent literature.

참고문헌 (Reference)

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