한국과 중국 결제관행의 차이점에 관한 연구

A Study on the Differences of Payment Practice between Korea and China

Purpose Payment Practices in Korea and China are largely similar;but there are some differences because of varying laws and practices in both countries. This study compares payment practice differences between Korea and China to help Korean traders and bankers understand the differences in payment practices between Korea and China when they trade with China. Design/Methodology/Approach – This study included a comprehensive review of prior domestic and foreign literature as well as e-mail consultations with experts in the payment field around the world. Findings – Findings revealed that there are some differences between letter of credit practices and new payment practices in Korea and China. The main differences of letter of credit practices are the differences in practices due to varying relevant laws pertaining to the settlement of bills and regulations on letters of credit not to mention the differences in the attitudes of banks. The main differences in the new payment practices are the differences in usages of fintech payment tools and bank payment obligation(BPO) in Korea and China. Research Implications – This paper presented the differences between letters of credit payment practices and new payment practices in Korea and China and implies the need for. Korean bankers and traders to craft strategies to ensure that no payment problems happen or are at least minimized.