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논문검색은 역시 페이퍼서치

금융법연구검색

Korea Financial Law Association


  • - 주제 : 사회과학분야 > 법학
  • - 성격 : 학술지
  • - 간기: 연3회
  • - 국내 등재 : KCI 등재
  • - 해외 등재 : -
  • - ISSN : 1738-3706
  • - 간행물명 변경 사항 :
논문제목
수록 범위 : 3권 2호 (2006)

발간사(發刊辭)

정찬형
한국금융법학회|금융법연구  3권 2호, 2006 pp. 3-4 ( 총 2 pages)
1,000
키워드보기
초록보기

보험업의 경쟁력 강화와 생명보험사 상장문제

김선정 ( Sun Jeong Kim )
한국금융법학회|금융법연구  3권 2호, 2006 pp. 3-21 ( 총 19 pages)
5,900
초록보기
The government launched a consultation body in a move to allow the nation`s life insurance companies to be listed on the local bourse. The Financial Supervisory Service plans to life insurance companies will be listed later this year. The consultation body hold public hearing to canvass expert views for drawing up listing regulations and conclude that to allow the listing. Some insurer have already increased their capital to prepare for listing. But the government`s plan faced to vehement opposition of some groups because of disputes between the life insurance companies and the opposite groups over whether the profits from the listing should be given to the policy holders. The writer reviews the necessary and urgency of the listing and emphasize that the form of all local life insurance companies are stock company.

한미 FTA체결과 보험시장의 환경변화

정영석 ( Yeong Seog Jeong )
한국금융법학회|금융법연구  3권 2호, 2006 pp. 23-41 ( 총 19 pages)
5,900
초록보기
Korea began free trade agreement negotiations with the United States on June 2006. Providing access to Korean insurance market to the U.S. is one of the areas to be discussed during the course of negotiations. Korea has been making substantial progress in providing market access to foreign insurers prior to its WTO commitment. Since foreign insurers are already enjoying broad access to Korean insurance market, the effects of free trade agreement between Korea and the United States will be insignificant. Cross border trade in life insurance service, for example, took only 0.006% share of the Korean market in 2005 despite the fact that the life insurance market is completely open to foreign insurers. Likewise, the market share of cross border trade in Non-life insurance service market in Korea(49.4% of the market open to foreign insurers) was a mere 0.57% in 2005. In the case of insurance auxiliary service, the nature of the service lends it difficult for foreigners to take advantage of the improved market access. Although new financial service, regulatory transparency and self-regulatory organization are further issues to be addressed during the course of negotiations, such areas are expected to be settled on similar terms to U.S.-Australia and U.S.- Singapore FTA. In that case, the expansion of U.S. insurers`` market access will have only limited effects on the Korean market.

보험업법의 현안과 개정 방안

맹수석 ( Soo Seok Maeng )
한국금융법학회|금융법연구  3권 2호, 2006 pp. 43-69 ( 총 27 pages)
6,700
초록보기
The Ministry of Finance and Economy finalized the procedure of preannouncement of legislation in regard to the legislative bill for the amendment on some part of Insurance Business Act (hereafter, referred as the ``amendment bill``) in order to adapt financial environment on November 8th, 2006. This amendment bill is considered as legislative meaning in terms of focusing on advancement of insurance related policies by the improvement on restrictions about the product development of insurance companies, the enlargement of their business range, the enhancement of an insurance subscriber protection, the firm establishment of an insurance fraud investigation system and so forth. However, some issues such as the problem on combining the management of both life and accident insurances and on improving the insurance recruitment system, which brought the attention in the process of discussion in regard to the amendment of Insurance Business Act so far, were unable to be included due to the big differences between parties related. Although the obligation of explanation was included in the amendment bill, it hasn`t still specified how to see the effect on the insurance policy holder who was never informed in regard to his or her interest or harm. This article would like to suggest the improvement plan in regard to the regulations on the insurance fraud restriction acts, the regulations regarding insurance solicitation advertisement, regulations regarding the obligation of explanation and the principle of suitability, which were contained in this amendment bill. In addition, issues on the combining management in both life and accident insurances, and the permission of the crossed recruitment and the termination of exclusive system of insurance planners, which were not included in this amendment bill, are to be suggested and discussed along with the improvement plan.
6,300
초록보기
In 1997, Cheil Bank`s bad loan problems against the Hanbo Metal Corp.(hereinafter Hanbo) resulted in the joint failure of the Cheil Bank. Minority shareholders of the Cheil Bank filed a derivative lawsuit against one prior president of the Cheil Bank who ordered officials and employees involved to give more credit extensions to the Hanbo without considering its financial weaknesses. In March 15th of 2002, the Supreme Court of Korea held that banks`` directors should be more subject to the heightened duty of care than corporate directors in general. The case in this paper is the second one dealing with the heightened duty of care of directors in the financial world. This paper analyses in detail following issues, such as ① the necessity of making differences between the duty of care in general corporations and the duty of care in financial institutions, ② exceptional situations where banks`` directors may extend credits against bad clients despite the explicit prohibitions of such credit-extensions in relevant laws and articles of incorporations, ③ the establishment of much clearer standards with regard to the duty of care by bank directors. For the purpose of analyses, the author compares lots of foreign cases in either the U.S. or Japan and suggests some instructions for the Korean financial context. After going through these works, this paper cautiously considers the decision of the Appellate Court which was passive to the full adoption of the heightened duty of care against bank directors in normal situations. The author is a little bit anxious about a firm conclusion since this case is still pending at the Supreme Court right now. For that reason, readers may be dissatisfied with the conclusion of this paper. Another work should be done after getting a final decision at the Supreme Court.
7,400
초록보기
Article 11 of the Bank of Korea Act prescribes that "(1) The term "financial institutions" in this Act means financial institutions referred to in Article 2 of the Banking Act and bank holding companies referred to in the Financial Holding Companies Acts. (2) Any credit business division of the National Agricultural Cooperative Federation and the National Federation of Fisheries Cooperatives shall be deemed a financial institution. (3) Insurance companies and the companies exclusively engaged in mutual savings bank business or trust business shall not be deemed financial institutions." One the other hand, Article 2 of the Banking Act stipulates that "for the purpose of this Act, the definitions of terms shall be as follows: 1. The term "banking business" means a business of lending funds raised by bearing debts from many unspecified persons through the receipt of deposits and issuance of securities and other bonds; 2. The term "financial institutions" means all legal persons other than the Bank of Korea regularly and systematically engaged in the banking business; ...." However, the meaning of banking business and financial institutions in Article 2 of the Banking Act is not so clear that it is difficult to decide whether a certain institution can be a financial institutions or not. In order to solve the problem, it is desirable that financial institutions be enumerated one by one in an Article of the Banking Act. For a new-born institution, the Banking Act should mandate the Enforcement Decree of the Banking Act the power to prescribe that the institution shall be deemed a financial institution for the purpose of the Banking Act. The Mutual Savings Banks Act and the Credit Unions Act stipulate that the Federation of Saving Banks and the National Credit Union Federation shall be regarded as a financial institution respectively in Article 2 of the Banking Act and Article 11 of the Bank of Korea Act when they carry out specified activities. But it is unclear that which Articles of the Bank of Korea Act and the Banking Act can be applied to them. So it is desirable that the Bank of Korea Act and the Banking Act by themselves stipulate that such a institution shall be deemed as a financial institution and some specified Articles of the Acts shall be applied to the institution.
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