Abstract
When the Bank of Joseon withdrew from Manchuria in the mid-1930s, multilateral discussions on the reorganization of financial institutions took place. The discussions largely centered on the policy authorities and related financial institutions, and the authorities agreed on the principle of making the Bank of Joseon the central financial institution in Joseon. However, the Government General of Korea tried to secure supervisory authority over the Bank of Joseon, which was dominated by the Ministry of Finance, and also tried to minimize the reduction of the general banking operations of Joseon Siksan Bank, over which it had the supervisory authority. On the other hand, the Ministry of Finance tried to control colonial finance from the parent state through supervisory authority over the Bank of Joseon, while at the same time attempting to dramatically reduce the role of Joseon Siksan Bank. The administrative authorities were in opposite positions over the control of finance in colonial Joseon.<BR> The Bank of Joseon and Joseon Siksan Bank, which had the closest interest in reorganization, responded actively. First, the Bank of Joseon demanded entry into China as compensation for the loss of its vested interests in Manchuria. The authorities suggested Joseon as compensation for the bank’s withdrawal from Manchuria, but the Bank of Joseon demanded the larger market in China and sought to realize it by establishing an overseas bank called Dong-A Bank. Unlike the conception of the Ministry of Finance or the Japanese Government General of Korea, the Bank of Joseon had no intention to concentrate on Joseon. The Bank of Joseon argued that its concentration on Joseon was very likely to worsen the situation in Joseon and demanded the establishment of a large overseas bank with strong financing and expanded business areas. That is, the Bank of Joseon was not interested in expanding its business in Joseon, but with this opportunity, tried to realize its dream of becoming a huge overseas bank that it had pursued since its foundation.<BR> On the other hand, Joseon Siksan Bank focused on maintaining the vested interests it had enjoyed as a central financial institution in Joseon. In particular, Joseon Siksan Bank criticized that the Ministry of Finance"s attempt to subordinate it to the Bank of Joseon through reorganization was an action that disregarded the reality of Joseon finance. Joseon Siksan Bank pursued unbalanced development with itself as the peak and rationalized it by citing the special circumstances of Joseon.
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