재벌 금융계열사의 주식소유집중 개선방안에 대하여 ― 의결권제한 대신 대표소송 강화 및 기관투자가 육성방안을 중심으로 ―

Abstract

The restrictions on voting rights of financial subsidiary Seong-Je Sung This paper examines the study on the validity of the current regulation and reform bill at the restrictions on voting rights of the mainly conglomerator’s [Chaebol’s that is family concern)] financial subsidiary. Three of laws have been. That is “Act on the Structural Improvemnet of the Financial Industry”, “Financial Holding Company Act” and “Unfair Competition Prevention and Trade Protection Act”. The Government push ahead with revision of the former two bills and had driven revised at the latter one bill. Capital of financial industry is financed and accumulated by their customer and investor’s. It is unfair that financial subsidiary of conglomerator invest to excess of the same conglomerator’s subsidiary. At the same time, it is unfair that the laws intercept the financial subsidiary’s investment their own conglomerator’s subsidiary. Too much excess legal restrictions has harmful side effects. The government only should be intervened at failure of market and should be made a equipment to prevent failure of market. So korean capital markets is in need of market control methd, that is one stock derivative suit, double(multiple) derivative suit and promoting a role of the institutional shareholders.