금융회사 집행임원의 개선방안

Abstract

In Korea, the amended corporation law introduced the Executive Officer System in the Apr. of 2011, which became effective in April 2012. And the Korean authorities (MOJ) announced Commercial Act revised bill in July 2013 by which all listed corporations should establish the Executive Officers if their asset amounts are over 2 billion won. But the Banks executed the de facto Executive Officer after the 1997 financial crisis by the recommendation of the Financial Supervisory Authority for the Corporate Governance improvement in the Financial Industry before the revision of corporation law, which is regulated by the articles of incorporation or provisions of the financial company, not by the corporation law.BR There can be thought the question whether the Executive Officer System under the Corporation Law applies to the banks under controled by the Banking Act, one of the Financial Laws.BR This article examines the following points. Firstly, arranges the differences of the Executive Officer System between the corporation law and the de facto Executive Officer on the financial companies in operating. Secondly, reviews on the previous questions to applying the Executive Officer System to the financial companies regarding to the issues about (i) the relations of the corporation law and the financial laws, (ii) the acceptance of the corporate governance improvement items in the financial laws, (iii) the effective administrative santions to the Executive Officers including the de facto Executive Officer.BR From the legal reviews to the related issues, the Executive Officer System in the corporation law should be applied to the fiananal companies and the Financial Supervisory Authority has to amend the individual financial law according to the size of capital or assets, kind of business of financial company analogically.BR The financial laws in harmony with the corporation law can contribute to the the effectiveness and profitability of financial industry.