공적자금제도와 법적 과제

Abstract

Korean government has made a relief fund amounting 168.5 trillion won, in order to overcome nationwide financial crisis in 1997. The government has not yet recover 77 trillion won including totally unrecoverable fund. Recently there is an social issue to make new relief fund to cover social crisis arising from american economic recess. In this circumstances this article will review general system of relief fund in connection with the basic principle: minimum cost and fair distribution of the loss arising from economic crisis. In analysis of the system revision of related law will be suggested. In application of minimum cost principle, relief fund could be invested to a specific insolvent bank or company instead of bankruptcy, if it is beneficial to national economy. The case is allowed when the invested relief fund could be larger compared with the fund in case of bankruptcy of the bank or enterprise. This current legal measure could legitimate long-term customary practice in Korea that large business corporation could not collapse in any case without reference to market situation or their illegal or immoral business management. The application of the article in related law should be limited in case of relief fund except deposit insurance fund. Even in such cases the loss arising from investment of relief fund should be fairly compensated by shareholders, managements and labors etc of concerned corporation. The principle of fair distribution of loss arising from the investment of relief fund has not been strictly observed, in case of investment trust company, credit union, indemnity of company's loss against the corporate officers etc. In other to strictly observe the principle in future, the Committee of Relief Fund should be reorganized. The function of the committee should also be strengthened. For the purpose of strong auditing the relief fund system, The Control Committee of Relief Fund in parliament could be established.