우리나라 신탁업의 현황과 전망

Abstract

In Korea, trust business was introduced by Japan in 1910 when Japan ruled Korea by force. Although Korea established its own trust law and started own trust business in Dec 1968, Korea trust business structure is similar to the Japanese trust business in this back-ground. BR However, after the financial reform which was recommended by IMF on the condition of relief finance in 1998, Korean financial system including trust business was much changed by introducing Global Standard. BR Trust business also adopted many global practise such as Mark to Market evaluation, advanced fire-wall requirement, principle of fully performance-based dividend etc. Trust business in Korea became epochally active since 1983 by allowing commercial banks to engage in the trust business concurrently with banking business and now securities companies and insurance companies are also allowed to manage trust business. BR As of the end of 2011, 57 companies (20 banks, 21 securities companies, 5 insurance companies, 11 real-estate trust companies) are running trust business and the total asset reaches to KRW 411 trillion. BR Trust is being used for efficient asset administration, economy of scale in asset managing, professional investment, asset securitization, real estate managing & development, collateral management, charitable purpose etc. BR In July 2011, Korea trust law was totally revised for the first time in almost 50 years after the initial legislation of 1968. The new trust law accommodates many innovative trust system in line with the global practice. BR Trust declaration, Will-substitute trust, Security trust, Re-trust, Limited liability trust, Trust debenture, Beneficial certification issuing trust etc. are newly introduced by the new trust law. The new Korea trust law will be the cornerstone of new era of Korea trust business and the rapid growth of trust business is expected.