우리나라 금융지주회사 제도의 법제현황과 발전방향

Abstract

ABSTRACT

Current Status and Development Directions of Korean Financial Holding Company System

Kim Hyun Sik Advisor : prof. Yang Dong-suk, Ph. D. Department of Law Graduate School of Chosun University

In 1999, the Korea allowed establishment of a holding company which was strictly regulated. And in 2000, they was enacted the Financial Holding Company Act. The purpose of allowing the establishment of a holding company was specializing in of business about group of companies’ consolidation of fiscal organization, also, to promote the improvement of governance structure and the ownership of chaebol. And the reason of enactment of the Financial Holding Company Act is to promote the sound management of financial holding company and its subsidiaries by preventing its side effects of financial institutions’ upsizing and diversification such as excessive expansion of power, dispersion of risk. Also, Enhance the competitiveness of the financial industry and to contribute to the development of the national economy by protect the right of consumers. Due to the introduction of a financial holding company, Korean financial markets were significantly changed and could raise the performance of cost savings, cross-selling, diversification effects, dispersion of risk by operation of a wide range of industries. In addition, the financial innovation and technological advances were achieved also overseas expansion of financial institutions became easier. In addition, the financial innovation and technological advances were achieved also overseas expansion of financial institutions became easier. Currently, the large financial institution takes the form of a financial holding company, it has been expanding its business area. Also, it is expected that the more financial holding company will emerge. However, unlike the purpose of its introduction, many problems are occurs to several areas in the domestic financial holding company system and Institutional lack is occurs. To overcome these problems, the government revised the Financial Holding Company Act in 2009. And by enacting the legislation regarding the governance of financial institutions in 2011, now these were submitted to the National Assembly. But it is far from the competition of global market to exert by Korean financial holding company. Thus, in this paper, have been investigated the way to solve the problems of the Korean financial holding company system. Especially In 2011, to solve these problems the Act on the corporate governance of financial institutions was included in this study. This paper is organized into five chapters. The Chapter 1, Introduction introduce the purpose and necessity of the study also, scope and methods of the study. In Chapter 2, share the basic theories as three sections in order to describe the characteristics and concept of the financial holding company. the first section 'Significance of financial holding companies', the second section 'Consider the status of regulations regarding the financial holding company', the third section 'Regarding the governance of the financial holding company, main contents of Financial Governance Act, Adjunct employees, outside director system and compliance officer'. In the Chapter 3, it study about the system of the United States, Japan, China also, study the director legal system and search the each countries' background of establishment of the financial holding company through the legislative record, theories. And it has divided as the Financial Holding Company Law of United States in Section 1 of Chapter 3, Financial Holding Company Law of Japan in Section 2, and Financial Holding Company Law of China in Section 1. And review the problems and its improvements about Korean Financial Holding Company in Chapter 4. In the first section, issues and challenges for the future about Korean financial corporate governance bill, the first section, problems and solutions of Korean financial holding company. And in the 3rd section this paper tries to find the other issues and ways to improve. Chapter 5, the Conclusions was based on it. Through this research, this paper presents the problems and the solutions regarding Korean financial holding company system. Much of this research has already been completed partially and based on these national and international literatures and organized. And it is expected to solve the problem globally about Korean financial holding company by these studies and summary.