일본의 중소기업 구조개선제도의 최근 동향과 시사점

Abstract

In Korea, there are two corporate restructuring systems for the normalization of enterprises with signs of insolvency: the bankruptcy system, which is led by the court, and the workout system, which is led by creditors. However, plans are being discussed to introduce a out-of-court workouts tailored to SMEs led by a third-party organization, as opposed to workouts led by creditors, to compensate for the blind spots of the current workout and rehabilitation systems, and to diversify the system to provide various restructuring opportunities depending on the situation of the company. In Japan, a new out-of-court workouts has been established to help SMEs rehabilitate their businesses more quickly and flexibly, while also keeping in mind the impact of the novel coronavirus. In particular, the Out-of-Court Workouts Procedure for SMEs is a consensus of the financial community and industry on a standardized out-of-court workout procedure for SMEs, which was established in consideration of the characteristics of SMEs, and it is expected that SMEs and targeted creditors can utilize this procedure as a basis for reference in cases where other standardized out-of-court workout procedures do not specifically stipulate the contents of the business rehabilitation plan and repayment plan established by SMEs, the requirements for establishing the plan, the procedure for establishing the plan, the response of financial institutions, and the monitoring after the plan is established. In Korea, due to the recent prolongation of the corona crisis, it is difficult to expect the recovery of performance, especially for SMEs, and in order to revive SMEs that have been temporarily pushed into a liquidity crisis due to the recent economic crisis such as high interest rates and high prices, it is necessary to immediately respond to changes in the environment and demand of the company and provide various structural improvement opportunities according to the companyʼs situation through diversification of new restructuring systems. In particular, in order to revitalize SMEs, it is necessary to establish a system to introduce a private restructuring system customized for SMEs led by a third-party institution, unlike workouts led by credit institutions, to facilitate business reconstruction.