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  • P-ISSN 1738-656X
  • E-ISSN 2586-4130

KDI Journal of Economic Policy. Vol. 37, No. supplementary, March 2015, pp. 1-32

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Technology Standardization, Government Intervention, and Public Electronic Certificate in Korea

Yeongkwan Song

Author & Article History

Manuscript received 29 August 2014; revision received 04 September 2014; accepted 15 December 2014.


Korea witnesses continued debate over the policy that mandates the use of the public authentication certificate (electronic certificate) in electronic financing. The debate mainly centers on the rationale of the government compelling, as a standard, a public electronic certificate based on a specific technology, among several user authentication technologies. This paper looks into the impacts of both adoption and abolition of this mandatory policy and thereby analyzes the effects of government intervention in technology standardization. To that end, two main questions are presented: what conditions would enable a single technology to serve as a standard in the market without government intervention; and what conditions would make the standard determined in the market contribute to maximizing social welfare. This paper demonstrates that the attitude and preference of market participants towards each technology determine the level of market equilibria and social welfare caused by the adoption and abolition of the mandatory policy on electronic certificate.


기술표준화, 정부개입, 공인인증서, Technology Standardization, Government Intervention, Public Electronic Certificate

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