주식회사 감사위원회제도의 개선에 관한 비교법적 연구

박세화(Park Sei-Hwa) 충남대학교 법학연구소 2003 法學硏究 Vol.14 No.1

There has been a great matter of concern in auditing system in the United States, which is recently becoming the most important issues in Korea too. Specially, attention is focused on reform of the audit committee system and amendment of the audit committee provisions under the Commercial Code and the Securities Exchange Act in Korea. However, It is not easy to find suitable the audit committee system in Korea. This paper focuses on the comparative legal aspects of a U. S. new act, known as the Sarbanes-Oxley Act of 2002, and the Korean Commercial Code' the Korean Securities Exchange Act, in order to propose some suggestions on improvement in the audit committee system. The Sarbanes-Oxley Act requires that the SEC must adopt the following audit committee rules. First, all committee members must be independent and not collecting fees from the registrant(by consulting or otherwise). Second, the committee must be directly responsible for appointing, paying, and supervising outside auditors. Third, committees must establish procedures to promote employee reporting of misconduct and protect reporting employees. Fourth, committees must be empowered to retain independent counsel and other advisors. Fifth, the company must provide sufficient funding, as the committee determines, to pay outside auditors and committee advisors. Sixth, the new act requires quarterly and annual disclosure of whether at least one audit committee member is a financial expert and, if not, why not. This article suggests that all committee members must be outside directors, at least one audit committee member(among outside directors) must be a financial expert on the large publicly held corporation under the Korean Securities Exchange Act. It is, also, necessary to amend the Korean Commercial Code and the Korean Securities Exchange Act that the audit committee must be directly responsible for monitoring outside auditors.

내부통제제도에 관한 한국 기업법제의 현황과 과제

박세화(Sei-Hwa Park) 한국기업법학회 2016 企業法硏究 Vol.30 No.1

2000년대 초반 외환ㆍ재정위기를 겪으면서 개별 금융관계법에 금융기관을 대상으로 하는 내부통제기준 및 준법감시인에 관한 사항이 도입되었고, 내부회계감사제도가 주식회사 외부감사에 관한 법률에 규정되게 된다. 그 후 2011년 상사기본법인 상법에 준법통제기준 및 준법지원인제도가 입법됨으로써 내부통제를 통하여 준법 경영 및 투명하고 효율적인 기업문화를 형성하고자하는 법제 차원의 노력이 가속화 되었다. 한편 상법상 준법지원인제도의 안정적인 정착과 후속 보완조치가 논의되는 것과는 별도로, (계속되는 금융기관의 비리와 종전 준법감시인제도의 법리적 결함 및 실효성에 대한 회의 때문에) 종전부터 준법감시인제도 하에 있었다는 이유로 상법의 적용이 배제된 금융기관들에 대한 내부통제 강화의 필요성이 강하게 제기 되었다. 2015년에 제정된 금융회사의 지배구조에 관한 법률에 금융기관의 내부통제 강화라는 정부의 의지가 반영된 종전에 비해 강화된 금융회사의 내부통제모델이 담기게 된다. 이런 내부통제 법제화의 흐름 속에 상법상 준법지원인제도와 금융회사의 지배구조에 관한 법률상 준법감시인제도가 내부통제라는 큰 틀에서 함께 논의되어야 함에도 현재는 형식적으로 분리되어 관리되고 있다. 이 글은 현시점에서 내부통제에 관한 우리 기업법제의 현황과 향후 과제를 조명하기 위하여, 내부통제의 개념 및 현행 내부통제 법제의 전체적 개요를 살피고, 상법상 준법지원인제도와 금융회사의 지배구조에 관한 법률상의 준법감시인제도에 관한 주요 쟁점을 선정하여 문제점을 분석하고 대안(입법 방안)을 제시하고자 하였다. 준법지원인제도에 관하여는 준법통제기준의 적정성 확보의 중요성, 준법지원인의 선임의무 면제․자격․책임 등에 관한 검토, 경영조직과 준법통제체제의 효율적인 융합, 내부제보장치의 준법통제체제로의 기능적 연결 등을 집중적으로 살펴보았다. 금융회사의 지배구조에 관한 법률상의 준법감시인제도에 관하여는 준법감시인과 위험관리책임자의 역할분담, 내부통제와 위험관리의 병행구조에 대한 지배구조적 분석, 준법감시인의 자격․겸직제한 규정의 흠결 사항 등에 관한 연구 결과를 기술하였다. 특히 이 들 법제의 입법적 불비사항을 상세히 파악하고 이에 대한 구체적 입법대안 제시하는 것에 많은 비중을 두었다. 마지막으로 내부통제사항의 법제화에 대한 본질적인 반성과 더불어 상법을 비롯하여 금융회사의 지배구조에 관한 법률을 비롯한 여러 금융관계법령들을 거시적 안목에서 정비하는 방안을 설명하고 있다. 또한 이러한 정비 과정에서 각 법령에 담기면 바람직한 사항들을 내용과 형식 측면에서 부가적으로 상세히 설명하였다. After the Asian Financial Crisis, Internal Control System has been emphasized as a essential position of financial companies to improve transparency of business management and effective risk management in Korea. The internal control system means a series of control procedures devised within a company to give reasonable assurance to companies in efficient business operation, maintenance of accurate and trustworthy financial reporting system, compliance with relevant laws and regulations and internal policy and procedure. Today there are two typical statutes that some codes of internal control system are established. One is the Commercial Act amended 2011, the other is Act on the Governance of Financial Corporation 2015. Under the Commercial Act §542-13, listed corporations determined by Presidential Decree in light of the scale of assets shall assign compliance officer(one or more) and arranged the compliance standards. For efficient operation of compliance officer system of the Commercial Act, the following issues should be discussed: Adequacy of compliance standards, Legal position of compliance officer, Governance analysis of compliance system, Whistle-blowing from the inside for legal risk control and so on. Act on the Governance of Financial Corporation was legislated in 2015 contained the some plans to improve the internal control system of financial institutions by Financial Services Commission and Financial Supervisory Services, instead of expunging internal control statutes on each financial Laws e.g. the Banking Act, Act on Capital Market and Financial Investments etc. Under the Act on the Governance of Financial Corporation 2015, financial institutions should assign compliance officers(one or more) that examined compliance of internal control standards, among the internal directors or head business executive members. And they should establish Risk Control System separately. Head of risk control system has the duty of examining compliance of risk control standards for sound asset management and transparent financial transactions. I think that we have many legal issues in interpreting and applying Act on the Governance of Financial Corporation 2015, for implementing efficient internal control system in financial institutions as follows: Having clearness between internal control standards and risk control standards, Qualification and Duty of the prohibition of concurrent offices of compliance and Head of risk control system, the governance design of them and so on. I suggested my opinions about ways to vitalize internal control system and to improve internal control legislations(Commercial Act and Act on the Governance of Financial Corporation). First of all we need to arrange every internal control legislations like looking at the big picture. On the Commercial Act, it is necessary to enact a general provision that board of directors has the duty of designing and operating the internal control system. And on each commercial special act, it reflects each internal control problems and that"s enough. Besides establishing a long-term policy, this study gave a concrete amendment plans and examples for the Commercial Act and Act on the Governance of Financial Corporation. Lastly, I like to emphasize that companies" spontaneous choice of establishment of internal control environment and compliance culture is key factor of efficient operation of internal control system.

1980년대 이후 한국상사법의 발전과 향후과제

박세화 ( Sei Hwa Park ) 연세법학회 ( 구 연세법학연구회 ) 2006 연세법학 Vol.13 No.1

유한책임회사제도에 대한 법이론적 검토

박세화(Park Sei-Hwa) 부산대학교 법학연구소 2007 법학연구 Vol.48 No.1

2006년 상법개정안에는 두 가지 새로운 공동 기업형태가 포함되어 있다. 합자조합과 유한책임회사가 그 것이다. 다만 이 글에서는 회사형태로 도입되는 유한책임회사제도로 논의의 대상을 좁혀, 그에 관한 상법개정안의 내용과 문제점 그리고 논의가 필요한 법이론 적 쟁점들을 살펴보았다. 우리 유한책임회사는 미국의 Limited Liability Company(LLC)에서 유래를 찾을 수 있다. 일본도 새로운 회사법전을 구성하면서 미국의 LLC를 모델로 하는 합동회사제도를 창설하였다. 따라서 유한책임회사 제도의 분석에 있어서는 이들 법제와의 비교법적 검토가 중요한 의미를 가질 수밖에 없다. 유한책임회사에 관한 상법개정안의 내용을 주요 주제별로 나누어, 미국의 LLC제도(2006년에 개정된 Revised Uniform Limited Liability Company Act의 내용을 중심으로)와 일본의 합동회사 규정들과의 비교법적 검토를 수행 하였다. 이러한 과정에서 필자가 무엇보다 중요하게 생각한 것은 유한책임회사가 탄생하게 된 경제적 배경과 이를 실현하기 위한 새로운 법적 시스템이었다. 또한 향후 우리나라에서 유한책임회사가 사회적 낭비 없이 고 부가가치의 인적 자산을 효율적으로 소화할 수 있는 기업형태로 자리매김하기 위하여 반드시 요구되는 몇 가지의 법이론 적 쟁점을 검토하였다. 유한책임회사와 기존 상법상의 유한회사와 차별성은 있는가? 그리고 유한책임회사제도의 발전에 결정적인 영향을 미치는 세법상의 합리적인 대응방법은 무엇인가? 미국에서 논쟁이 되고 있는 유한책임회사로의 주식회사 법인격 부인법리의 적용확대는 타당한가? 등에 관하여 논의하였다. A 2006 amendment draft of Commercial Act involves in the Limited Partnership(in Korean, "Hapja Johap”: LP) and the limited liability Company(in Korean, "Yuhanchaim Hoisa”: LLC). The Korean LLC system on a amendment draft of Commercial Act is based on the U.S. laws authorizing the limited Liability Company. I’m interested in the emergence of the LLC as the dominant business form for small business in the United States. An LLC is an entity that shares the limitation of liability characteristic of a corporation with partnership-like capacity to structure the entity by agreement rather than as prescribed by statute. Like a partnership, an LLC does not pay federal income tax. This article is in two main volumes. First attempts to provide comparative legal analysis of Korean LLC system on a amendment draft of Commercial Act with the U.S. LLC and the Japanese LLC(Goudou Kaishya system). Second contains three points. i)the relationship of a Korean LLC system on a amendment draft of Commercial Act and a Private Company in Korean Commercial Act, ii)the argument of LLC veil piercing, iii)the proper taxation regime in LLC context. I, specially, try to introduce a professor Bainbridge’s argument that veil piercing doctrine need to be abolished in the LLC context and professor Rapp’s response to him, providing the efficiency justifications for LLC veil piercing.

내부통제에 대한 규제와 내부통제 수단으로서의 종류주식에 대한 법적 고찰 -일본에서의 논의를 중심으로-

박세화 ( Sei Hwa Park ) 연세대학교 법학연구원 2008 法學硏究 Vol.18 No.3

Internal control system is generally defined a enterprise risk management process that enables management to effectively deal with uncertainty and associated risk and opportunity, providing assurance regarding the achievement of business objectives. The COSO(the Committee of Sponsoring Organizations of the Treadway Commission) Framework was created in 1992 to help business and other entities assess and enhance their internal control system. The COSO Framework that recognizes three primary objectives: effectiveness and efficiency of operations?reliability of financing reporting?compliance with appliable laws and regulations, has been recognized by regulatory standard-setters as a comprehensive framework for evaluating internal control including internal control over financial reporting. This COSO`s report have influenced on U.K. and Japan and Korea etc., until now. This article deals with J-Corporation Law was enacted including the duty on board of directors in institution of an effective Internal Control System and J-SOX was enacted including financial reporting provisions that each internal control report must contain a assessment of the effectiveness of the internal controls as well as the independent auditor`s auditing. The second provides an overview of various class shares in J-Corporation Law and examination of looking class shares as the tool of internal control system.

프로젝트 금융(Project Financing)의 활성화를 위한 법제도 개선에 관한 연구

박세화(Sei-Hwa Park) 한국비교사법학회 2006 비교사법 Vol.13 No.1

  The Project Financing can be defined as a method of funding in which the lender looks primarily to the revenues generated by a single project, both as the source of repayment and as security for the loan. In a Project Financing transaction, the credit decision of a rational lender is based on estimated cash-flow and the collateral value of the project’s assets, in contrast with an ordinary commercial loan. The Project Financing have been used for SOC constructions or PFI, PPP (e.g. power plants, transportation infrastructure, environment undertakings). By 2004, Project Finance in our country accounted for an estimated 10 trillion unofficially.<BR>  In this article, I emphasize that「the Special Act on Project Financing」have to be enacted to provide a new legal type and useful instruments of capital raising for project company. I also think that it is necessary for the Spacial Act to include the reduction of and exemption from taxes(corporation taxㆍlocal tax), detailed winding up system, the control system of an interest among sponsorsㆍlendersㆍgovernment.

2018년회사법관련 대법원 판례의 동향 및 적용 법리에 관한 고찰

박세화 ( Park Sei-hwa ) 한국상사판례학회 2019 상사판례연구 Vol.32 No.1

이 논문은 2018년 1년 동안 대법원에서 내려진 회사법 법리가 적용된 대법원 판례 11개 정도를 선정하여, 사실관계를 정리하고 적용된 주요법리에 대하여 분석한 글이다. 2017년만큼 큰 변화를 이끈 판례는 없지만, 소수주주권·주주평등의 원칙·주권의 선의취득·자기주식취득의 효력과 원상회복·주식매수선택권 부여계약 등의 주식에 관한 사항 그리고 이사의 경업금지 및 기회유용금지 위반·대표소송의 원고적격 등의 지배구조에 관한 사항이 다루어져, 회사법 연구자들의 관심을 끈 판례가 적지 않았다. 여기에 이익공여죄의 성립이 다투어진 형사사건도 있어 흥미로웠다. 한 가지 아쉬운 점은 대법원이 주식의 명의신탁과 이중대표소송에 관하여 어떤 입장으로 정리해 가고 있는지 표명할 수 있는 기회가 있었는데 이를 심도 있게 다루지 않아 못내 아쉽다. 평석 대상이 된 11개의 판례는 대법원 2018. 2. 8. 선고 2015도7397 판결, 대법원 2018. 2. 28. 선고 2017다270916 판결, 대법원 2018. 3. 15. 선고 2016다275679 판결, 대법원 2018. 4. 26. 선고 2017다288757 판결, 대법원 2018. 7. 12. 선고 2015다251812 판결, 대법원 2018. 7. 26. 선고 2016다 237714 판결, 대법원 2018. 9. 13. 선고 2018다9920, 9937판결, 대법원 2018. 10. 12. 선고 2017다221501 판결, 대법원 2018. 10. 25. 선고 2016다 16191 판결, 대법원 2018. 10. 25. 선고 2016다42800 판결, 대법원 2018. 11. 29. 선고2017다35717 판결 등으로, 이들을 선고일자순으로 정리하였다. In the year of 2018, there were about fifteen cases in the Korean Supreme Court regarding Corporate Law. This article focuses on eleven Supreme Court Cases dealing with critical legal principles of Corporate Law. Analysis cases were sorted in chronological order. This paper contains the facts of each case, the contents of the ruling and the analysis of the applied legal theories. The major legal issues raised in the eleven Supreme Court Cases were ① to apply on Korean Commercial Act Article 634-2 (Crimes of Granting Benefits in Connection with Exercise of Shareholder's Rights), ② to apply on Article 466 (Shareholder's Right to Inspect Books of Account), ③ to deal with the exclusion of application of Article 394 (Representatives in Lawsuits between Company and Directors) (1) When a company has filed a lawsuit against a director and vice versa, auditors shall serve as representatives of the company with respect to the lawsuit. The same shall apply where the company receives a request under Article 403 (1), ④ to deal with the Principle of Good Faith and a Defect in the Shareholders' Meeting, ⑤ to apply Acquisition in Good Faith of a Share Certificate, ⑥ to apply and interpret on Article 340-2 (Stock Option), ⑦ to apply on the Principle of Shareholder Equality, ⑧ to interpret the Legal Status of Owner of Transfer Security Right, ⑨ to apply on Article 397 (Prohibition of Competition) and Article 397-2(Prohibition Legal Principles of Appropriation of Company's Opportunities and Assets), ⑩ to discuss on the Effect of Acquisition of Treasury Shares and the problem of returning to its original state, ⑪ to interpret Article 403 (Representative Suits by Shareholders) (5).

효과적인 내부통제 체제 구축을 위한 입법적 과제

박세화(Park Sei-Hwa) 한국재산법학회 2006 재산법연구 Vol.23 No.2

  Many corporations in U.S. and Japan have long been acquiring concern with Internal Control System, for promoting efficiency, reducing risk of asset loss and helping ensure compliance with laws and regulations. Internal Controls means different things to different people. This causes confusion among businesspeople legislators, lawyers and others. According to Internal Control-Integrated Framework that COSO(the Committee of Sponsoring Organizations of the Treadway Commission) issued in 1992, Internal Control System is broadly defined as a process, effected by an entity"s board of directors, management and other personnel, designed to provide reasonable assurance regarding the achievement of objectives in effectiveness and efficiency of operations, reliability of financing reporting, compliance with appliable laws and regulations. This framework consists of five interrelated components; control environmentㆍrisk assessmentㆍcontrol activities?information and communicationㆍmonitoring. The Sarbanes- Oxley Act of 2002 in the U.S. extends the long-standing requirement for public companies to maintain systems of Internal Control, requiring management to certify and the independent auditor to attest to the effectiveness of those system. Recent years have seen heightened concern and focus on risk management. The COSO"s Report of 2004(Internal Control- Enterprise Risk Management -Integrated Framework) say that Internal Control is an integral park of enterprise risk management. Japan Corporation Law of 2005, also, was enacted including the duty on board of directors in institution of an effective Internal Control System.<BR>  This article deals with the legislative reform of Korean Commercial Law and finance related law in Korea, to help enterprises enhance their Internal Control System and control their activities in moving toward achievement of their established objectives. I emphasize that the duty of institution of Internal Control System is accountable to the board of directors on large corporation and the need for Internal Control Policy (Rule) like the COSO"s Report, providing concepts and key principles and clear direction and guidance, become more compelling.

지하공간전용 소방방재 통합시스템 구축에 관한 연구(1)

손봉세(Son, Bong-Sei),박동하(Park, Dong-Ha),박세화(Park, Se-Hwa) 한국화재소방학회 2007 한국화재소방학회 학술대회 논문집 Vol.2007 No.춘계

日本 法科大學院 制度의 現況 및 評價

박세화 연세법학회 2005 연세법학 Vol.11 No.1

Japan established the Law School System in April, 2004, as well as providing the new National Bar Examination, for producing the wide range of human resources that the legal profession will require in the 21st century. The Japanese Law School System is designed to be completed in 3 years, but those who majored in law and can demonstrate sufficient knowledge may graduate in 2 years. The Law School grants them Juris Doctor(JD) degree. The curriculum of the Law School must include not only legal theory, but also practice. The Law School have to be composed 12 full-time faculty members at the minimum, including teachers who have gained experience in the real world as lawyers, judges. The compulsory course is composed of 93 credits(3 years course) and 63 credits(2 years course). However, there are many obstacles to firmly take root their new system, such as the problems of the number of Law School students, continuance of undergraduate division of law, high-priced tuition, concentration of big cities, and so on". The Korean judiciary system, also, will undergo a revolutionary reform as law schools are to be introduced in 2008, ending the present state-run law examination in 2013. On September, 7, 2004, the Judiciary Reform Committee of the Supreme Court finalized the 10-year state project about New Law School System, which the government has set the total quota for the number of law students at 1200 - 1300 and only 10 among all 97 universities will be chosen, at least initially, and universities that establish Law School will have to close undergraduate law department. A New Law School Committee will soon be established in order to decide on several issues such as which universities will set up Law Schools under the new system. I think that it is necessary for a new committee to estimate and research on the Japanese Law School System.