공기업 지배구조의 개선에 관한 연구

Abstract

The problem of Stated-owned enterprises is a significant social issue and many scholars are also claiming its improvement these days. Governance of the stated-owned enterprises requires rules different from those applied to the private listed companies because of the lack of capital market, management markets. OECD issued ‘OECD Guidelines on Corporate Governance of State-owned Enterprises’ in 2005 for state-owned enterprise’s publicness ofter ‘OECD Principle of Corporate Governance’ was issued in 2004. It gave a profound impact on the enactment of the ‘Act on the Management of State-owned Enterprises in January, 2007 and it has been applied to most of the management of State-owned Enterprises in Korea since then. The Act, however, fails to take into consideration the differences in the legal and organizational forms of the SOEs, which may cause conflicts and confusion in the course of operation. We can think of ways to introduce Internal Control System and the Worker Director System as a solution to this problem. Internal control system is broadly defined as a process, effected by an entity’s board of directors, management and other personnel, designed to provide reasonable assurance regarding the achievement of objectives in the following categories: (1) Effectiveness and efficiency of operations. (2) Reliability of financial reporting. (3)Compliance with applicable laws and regulations. And the Worker Director System is that the worker who is elected director of the board can exercise the voting rights regarding important management matters such as business plan, budget, revision of the articles of corporation, disposition of property, etc. as provided the law and the articles of corporation.