title page
Contents
Welcome address by mayor of Seoul / Oh Se-hoon 4
Overview 6
Seoul international finance conference program 7
Speakers and presentations 11
Keynote speech 1 : Future trends of asian financial markets-creating a new Seoul financial paradigm / Joseph E. Stiglitz 12
Keynote speech 2 : "The world economic and financial systems : Prospects and challenges" / Jacob A. Frenkel 31
Session A. Seoul's international finance environment : A comparative study / Choi, Dosoung ; Kim, Hansoo ; Song, min-kyu 61
Seoul's international finance environment : A comparative study / Choi, Dosoung ; Kim, Hansoo ; Song, min-kyu 62
I. Background 64
3-Stage 『Northeast asian financial hub promotion strategy』 65
What is an international financial center? 66
Factors of competitiveness 66
Scope & methodology 67
II. Evaluations 67
Evaluation - overall[1] 68
Evaluation - overall[2] 68
Evaluation - policles and regulation 69
Evaluation - labor market 69
Evaluation - miscellaneous 70
Evaluation - capital market 70
III. Capital market 71
Capital market index 71
Scope and methodology 72
Breakdown of capital market-five categories & weights 72
Evaluation 73
Rankings in stock and bond market 73
Stock market 74
Bond market 75
Rankings in derivatives, asset management and F/X market 76
Derivatives market 76
Asset management 77
IV. Summary and implications 78
Summary and implications 78
Session B. Policy cases in overseas financial hubs 81
Hong Kong as an international financial center : The role of financial regulation / Lin Chen 82
Developing a financial center : The role of deregulation and taxation / Jeffrey Carmichael 95
"How New York has attained & retained its status as a commercial center" / Ronald J. Anderson 106
Dubai international financial centre (DIFC) education centre / Faten Hani 113
The development of the canary wharf business district in London / Howard Sheppard 156
Shanghai's financial industry and Lujiazui financial district in development / Fan Yong-jin 169
Korea's strategy toward an asian financial hub / Cho, In Kang 187
I. Snapshot of the Korea's financial industry 190
1. Snapshot of the Korea's financial industry 190
The overall performance of financial industry 190
The productivity of financial sector 191
The financial markets continues to grow 191
Dominance of banking sector remains 192
Remarkable improvements in soundness and profitability of the banking sector 192
Foreigner's active participation in domestic markets 193
Coesistence of foreign and domestic financial institutions in the market (end of 2006) 193
II. Korea's competitiveness as a financial hub : International perspective 194
Location of key global financial hubs 194
Key success factors of financial hub 195
Seoul's potential to become a financial hub varies... 195
Evalution on Korea's competitiveness as a financial center 196
III. Five factors contributing to Korea's finanacial hub 196
1. Abundant financial resources 197
2. Two trends in household's asset portfolio 197
3. Competitive edge in manufacturing & IT industries 198
4. Soundness of financial & social infrastructure 199
5. High quality financial education & providing top notch professionals 199
IV. Strategies towards a financial hub in asia 200
Basic directions for financial hub 201
Strategy 1: development of more competitive market player through deregulation 202
Strategy 2: fully equipped with globally competitive financial instrument 203
Strategy 3: estabishment of probusiness environment for financial services 204
Strategy 4: Talents development in financial sectors 205
Conclusion 205
Seoul's roadmap for a financial center in northeast asia / Paik, Yoonbeom 207
Criteria for global financial center index 209
I. Seoul's globalization project 211
I. Global zone 211
Global business zone 212
Global villages 213
Global cultural exchange zones 214
II. Improving living environment 215
III. Providing multi-language public services 216
IV. Promoting multiculturalism 216
II. Strategies for competitive financial center 217
Development of financial cluster 218
Financial human capital / knowledge base 218
Upgrading living environment 219
Schooling 219
Housing 220
Medical service 220
Communication / networking 221
Session C. Strenghthening competitiveness of asset management 223
Asset management industry in Korea : What is expected from parties involved / Jean Audibert 224
Asset management industry in Korea : Trends and prospect / Shin, Inseok 226
I. Asset management in the 21st(이미지참조)century 229
II. Historical perspective on the Korea asset management industry 232
III. Challenges and tasks in the Korean asset management industry 235
Attendance profile 241
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