Savings banks have been established for over 50 years, but they are not as popular as other financial institutions (e.g.
Compared to other institutions (banks, securities, etc.), the scale is small, so there are few researchers, and there is no explanatory book on the Savings Bank Act.
This book is a commentary on the Savings Bank Act written by a practicing lawyer who has provided legal advice on the Savings Bank Act for 10 years.

Until the early 1970s, Korea's financial policy was a dual structure in which institutional financial institutions, centered around banks, focused on financial operations that allocated limited funds to strategic industries centered around large corporations according to economic development plans, while ordinary citizens and small and medium-sized enterprises (SMEs) relied primarily on the private loan market, which was proliferating at the time in the form of private finance, such as private finance companies, pawn shops, and loan sharks.
As this dual structure worsened, a massive private financial market, approaching the currency supply of the time, flourished.
High-interest private lending has acted as a significant obstacle to efficient allocation of funds and monetary credit policy. High interest rates have increased financial costs, worsening corporate financial structures, and accelerated inflation, weakening international competitiveness.
As companies were unable to make profits due to the economic recession and financial costs, and as the private loan market grew inflated and distorted the economy, the Park Chung-hee government issued the "Emergency Order on Economic Stability and Growth (hereinafter referred to as the "August 3 Measures")" on August 2, 1972.
8.3 In accordance with the measures, three laws were enacted to legalize private finance, including the Short-Term Finance Act, the Mutual Credit Union Act, and the Credit Union Act. The financial institutions established under these laws are currently general financial companies, mutual savings banks, credit unions, and new village credit unions.
This book is a commentary on the Mutual Savings Bank Act, organizing the issues the author has researched and pondered over in relation to the Act, article by article.

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