Resultantly, they still perceive this to be a social/ regulatory obligation and consequently their efforts are half-hearted. The inadequacy of MIS creates further complications. The sunken cost for setting up the intermediate brick and mortar structures and developing the BC network has to be seen as future investment. Obviously, it cannot be revenue accretive from day one.
Fortunately, the active measures taken by the government and the Bank of Korea helped the financial market to recover its stability quickly, and the real economy showed signs of improvement in the second half of 2020. This year, it is expected that the global economy and trade will improve gradually, and the Korean economy will recover modestly.