證券會社의 派生金融商品 去來 規制에 관한 法的 考察

고동원(Dong-Won Ko) 한국비교사법학회 2005 比較私法 Vol.12 No.2

It is noted that recently the size of financial derivative transactions in worldwide and domestically has been rapidly increasing and is expected to increase continually. Since financial derivative products have a high risk in themselves although they are used for hedging risks of underlying assets, it would be necessary to regulate financial derivative transactions conducted by, in particular, financial institutions. Therefore, this article is intended to review the regulations imposed on securities companies in Korea in connection with their financial derivative transaction activities under the relevant laws and regulations, such as the Securities and Exchange Act ("SEA") and its regulations, and the Foreign Exchange Transaction Act ("FETA") and its regulations, to analyze some legal problematic issues and to recommend some measures to boost securities companies' financial derivative activities. Under the SEA and its regulations, securities companies are allowed to directly conduct stock options and stock-index options, and through a futures company, to engage in other types of futures transactions on the futures exchange; and in addition, securities companies satisfying certain requirements such as minimum equity capital of 100 billion Won and obtaining of all three types of securities business licenses (i.e. dealing, brokerage and underwriting) from the regulators have been allowed to engage in OTC financial derivative transactions since July 2002, further including credit derivatives since March 2005. According to the FETA and its regulations, securities companies are also permitted to engage in certain limited foreign exchange-related OTC financial derivative transactions, but excluding foreign exchanged-related credit derivatives. This article, however, in order to activate securities companies' financial derivative business as one of measures to promote the securities industry, suggests that the requirements (the minimum equity amount and the three securities business licenses) for engaging in OTC financial derivative transactions should be abolished as soon as possible, and foreign exchange-related credit derivatives should be also permitted to securities companies, considering that it would be essential to boost financial derivative markets and the demand for credit derivatives is expected to increase according to the soon-to-be implementation of the new Basel Accord Ⅱ in Korea.

현행 금융감독기구 체제의 문제점과 개편 방향

고동원(Ko, Dong Won) 성균관대학교 법학연구소 2012 성균관법학 Vol.24 No.2

Due to insolvency of several mutual savings banks in early 2011 in Korea, an issue of reforming the current financial supervisory authority system has been raised because it was disclosed that such insolvency had been partly attributed to an inefficient financial supervision and monitoring by the Financial Supervisory Service ("FSS"), a financial supervision and examination body. The reformative measures suggested by the special task force sponsored by the Prime Minister Office, consisting of relevant government officers and other specialists, have not been sufficient to tackle the current problems and to deal with the basic and fundamental reforms. This issue is expected to be in the spotlight again next year when a new administration will be launched. Thus, this article intends to analyze the current financial regulator system and recommend some desirable reformative measures thereof, in order to provide useful guidelines in such discussion of reforming the current financial supervisory authority system. First, this article suggests that the current system of consolidating the financial policy function and the financial regulatory policy function, which are being conducted by the Financial Services Commission ("FSC"), an financial decision-making government agency, needs to be separated so that the financial policy function should be transferred to the government, the Ministry of Strategy and Finance ("MOSF"), and the financial regulatory policy function must be conducted by an independent financial regulator. Second, the consolidated independent non-government financial regulator, which conducts financial regulatory policy function as well as financial institution examination function, should be established, rather than the government regulatory agency, in that this non-governmental regulator will definitely operate more efficiently in terms of procuring the independence, neutrality and specialization of financial regulation. Third, considering that the FSS has powers in diverse areas even including the fields of investigation of unfair trading in the securities and derivatives market and accounting audit as well as the regulation and examination of financial institutions, which leads to inefficient operation of the FSS due to abuse of such strong powers and diversification of concentration, this article suggests that the authority of supervising the capital market and the accounting audit need to be separated from the FSS, and the new agency for that jurisdiction should be established. Fourth, a new financial dispute settlement agency needs to be established, separating from the FSS, in order to enhance the protection of complaining financial consumers, because the current dispute settlement system conducted by the FSS is not evaluated to operate efficiently in terms of specialization and fairness. Finally, this article suggests launching a new system of efficient financial information sharing among the financial regulatory related institutions, such as the Bank of Korea, the Korea Deposit Insurance Corporation, the MOSF, the FSC and the FSS, by creating a new legal-based 'financial information sharing council,' which consists of such regulatory institutions or agencies.

공공정보 이용의 활성화를 위한 법적 개선 방안

고동원(Ko, Dong-Won),권영준(Kwon, Young-June) 성균관대학교 법학연구소 2011 성균관법학 Vol.23 No.2

In evaluating the credit of a consumer of financial institutions, credit information or data regarding such an individual comsumer, including his/her creditability, non-defaults in credit transactions, and credit transaction abilities, is used. In particular, it should be noted that “public sector information or data” on an individual consumer is also used for his/her credit score by a credit bureau or an financial institution. “Public sector information or data” is defined as information or data produced or owned by the public sector, including the central or provincial government or public entities. The examples include the records of court decision on insolvency or bankruptcy on an individual and defaults in tax payments (which are called as “negative public information”) as well as the records on electricity payments, telecommunication fee payments, gas fee payments, and social or health insurance premium payments (which are called as “positive public information”). Especially, it is argued that positive public information is very useful in credit-scoring on an individual who does not have sufficient credit history. In this regard, this article intends to review the current regulations relating to re-use of public information by a credit bureau or a public credit registry, and to suggest some recommendations for improvements on efficient re-use of public information from legal perspective in Korea. In Korea, the most important legislation regarding re-use of public information is the Credit Information Use and Protection Act (CIUPA). Other relevant laws include the Individual Information Protection Act, recently enacted and effective from September 30, 2011, the Public Institution Information Disclosure Act, the National Health Insurance Act, the National Pension Fund Act, the Korea Electricity Corporation Act, and the Resident Registration Act. However, the current regulations regarding re-use of public information contain some drawbacks. First, Article 23, Paragraph 1 of the CIUPA allows a credit bureau or a public credit registry to request public sector institutions to provide it with the relevant public information on a specific individual, and then such public institutions must provide the information to the relevant credit bureau or public credit registry, except for special cases; however, because the “special cases” are not so concrete, the relevant public institutions are in fact reluctant to provide such information, which is reducing the effects of this system. Second, provisions for procedure of the request and supply of public information are lacking. Third, Article 23, Paragraph 2 of the CIUPA also allows a credit bureau or a public credit registry to request public institutions to provide the relevant positive public information, including electricity payments and social insurance or health insurance premium payments, even though such provision is prohibited in the relevant laws; however, because the provision of such public information is solely determined by public entities themselves, the system of re-use of positive public information is not well being operated. Thus, this article suggests some improvements as follows: first, the “special cases” should be specified more in detail in order to prevent discretion of the relevant public entities; second, procedures for the request and provision of public information should be prescribed in the CIUPA; third, public institutions’ sole decision power regarding the provision of public information should be abolished. In addition, this article argues that the scope for public information to be re-used should be expanded, including gas fee payments. Finally, this article proposes the enactment of basic law regarding commercial re-use of public sector information for the purpose of more efficient system for re-use of public information, as shown in the cases of the European Union and the United Kingdom.

은행 경영지배구조의 법·제도적 문제점과 개선 방향

高東源(Dong Won Ko) 한국증권법학회 2007 증권법연구 Vol.8 No.2

은행대리업 제도의 도입에 따른 규제법적 과제

고동원(Dong Won Ko) 은행법학회 2024 은행법연구 Vol.17 No.1

이 글은 은행대리업 제도의 도입과 관련한 규제법적 쟁점을 고찰하고 있다. 전자금융거래 기술이 발전함에 따라 비대면 금융거래가 보편화 되고 있어, 은행 영업점의 숫자가 많이 줄어들고 있다. 그러나 여전히 은행 영업점을 이용해야 하는 전자금융거래 소외계층이 있다는 점에서 은행 지점 수요를 대체할 수 있는 방안이 필요한데, 은행대리업 제도가 그 답이 될 수 있다. 이미 일본에서는 은행대리업 제도가 도입되어 활성화되고 있어서, 이 글은 일본 제도를 검토하고 도입 방안을 제시하고 있는데, 그 내용은 다음과 같다. 첫째, 관련 법률인 「은행법」에 은행대리업의 정의 조항으로서 “은행을 위해서 은행의 고유업무인 예금과 대출 업무 및 환거래 업무에 따른 계약의 체결을 대리 또는 중개하는 것을 영업으로 하는 자”로 규정할 필요가 있다. 둘째, 진입 규제로서 인가제나 허가제 대신에 진입 규제의 정도가 약한 등록제를 채택하여 은행대리업 제도의 활성화를 도모할 필요가 있으며, 겸업을 허용할 필요가 있다. 셋째, 소속은행 제도를 도입하여 소속은행에게 은행대리업자에 대한 지도․관리 책임을 부여하고, 이용자의 소속은행에 대한 손해배상책임 조항을 둠으로써 이용자를 보호할 수 있도록 해야 한다. 넷째, 은행대리업자에 대한 영업행위 규칙을 규정하여 은행대리업자가 불건전한 영업행위를 하는 것을 막는 장치를 둘 필요가 있는데, 고객재산과 고유재산의 분별 관리 의무, 명의대여 금지 조항, 고객에 대한 고지 의무 등이 필요하다. 다섯째, 은행대리업자에 대한 검사 및 감독에 관한 규정을 두어 감독당국이 은행대리업자에 대한 업무 개선 명령과 제재 등의 조치를 취할 수 있도록 해야 한다. 여섯째, 은행대리업자가 고객의 실명 확인을 할 수 있도록 은행이 실명 확인 업무를 위탁할 수 있는 금융기관의 범위에 은행대리업자를 추가해야 하고, 「특정 금융거래정보의 보고 및 이용 등에 관한 법률」도 적용될 수 있도록 은행대리업자를 적용 대상 금융기관의 범위에 추가해야 한다. This article seeks to review the regulatory issues when Korea introduces a bank agency system. A bank agent is defined as ‘an institution which provides banking business such deposit-taking and lending activities on behalf of a specified bank.’ In relation to introducing a bank agency scheme, this article suggests the following legislative measures: first, a provision regarding a bank agent should be inserted in the Bank Act; Second, the entry regulation should be operated as a registration system rather an authorization or permission system; third, a bank as designated as a principal should be responsible for supervising a bank agent, and a bank agent’s customers should be allowed to bring a damage action directly against such a bank; fourth, the conduct of business regulations should be added, including separation between its customers’ assets and its own assets and explanation duty; fifth, in addition to a dispute conciliation system, an arbitration clause should be inserted in the Bank Act to effectively resolve the dispute between a bank agent and its customers; sixth, the provisons regarding the regulator’s inspection and supervision against a bank agent should be inserted in the Bank Act. Seventh, a bank agent should be permitted to be delegated to confirm the real name of its customers.

개별 사고특성 및 근린환경 특성이 서울시 보행자 교통사고 심각도에 미치는 영향

고동원(Ko, Dong-Won),박승훈(Park, Seung-Hoon) 대한건축학회 2019 대한건축학회논문집 Vol.35 No.8

Korea"s transportation paradigm is shifting from a vehicle-oriented transportation plan to a pedestrian-friendly environment that emphasizes walking safety. However, the level of pedestrian traffic accidents in Korea is still high and serious. The purpose of this study is to investigate factors affecting the severity of pedestrians traffic accidents using the multilevel logistic regression model based on 2015-2017 pedestrian accidents data provided by the Traffic Accident Analysis System(TAAS). The main results of the multilevel logistic regression model showed that 89% of pedestrian traffic accidents in Seoul were explained by individual characteristics such as drivers and pedestrians, and 11% were explained by neighborhood environmental characteristics. The results are as follows : In the individual characteristics such as pedestrians and drivers, the older the pedestrians and the drivers, the higher the traffic accident severity. The severity of traffic accidents was high when the pedestrians were female and the drivers were male. In the case of accident types, traffic accidents were more serious in the cases of heavy vehicles, inclement weather, and occurring at intersections and crosswalks. The results of the neighborhood environmental characteristics are as follows. The intersection density and the crosswalk density tended to reduce the severity of traffic accidents. On the other hand, the traffic light density and the school zones were founded to related to the higher level of traffic accident severity. This study suggests that both individual and neighborhood environmental characteristics should be considered together to prevent and reduce the severity of pedestrian traffic accidents.

조선전기 재정행정체계 확립을 위한 회계제도의 정립

고동원 ( Dong Won Ko ) 한국행정사학회 2010 韓國行政史學誌 Vol.26 No.-

본 논문은 조선초기 국가재정의 확보를 위해 사회·경제·문화적 배경이 반영된 회계제도의 구조와 발전과정을 역사적으로 살펴봄으로써 우리나라 근대 회계제도의 사상적 뿌리를 제시하고 회계사 정립에 일조하고자 연구하였다. 연구의 목적을 달성하기 위해 문헌적 검토와 함께 국사편찬위원회에서 구축한 조선왕조실록 인터넷 사이트를 활용하여 조선초기 회계제도의 적용사례를 제시하였다. 조선의 건국이념과 신진사대부의 개혁정치의 근본을 이루는 성리학의 영향이 크게 반영된 유교적 경제관에 따라 회계제도는 정립되었다. 문헌연구에서 조선전기의 회계제도는 회계기록 및 공시, 회계담당자의 역할, 회계를 통한 직무평가, 회계감사, 그리고 회계부정에 대한 처벌 등에 있어 현대의 내부통제시스템, 회계담당자의 역할, 업무평가시스템과 비슷한 규정이 있음을 알 수 있었다. This study examined development process of accounting system that social, economical, and cultural background is reflected in early Choson Dynasty. Accordingly, wish to establish history of accounting. To achieve purpose of study, did archival research and case study in the annals of the Choson Dynasty. Accounting regulation of Choson Dynasty was similar with accounting records and disclosure, role of accountant, evaluation, audit, and a punishment about accounting injustice and so on modern accounting system. This system be influenced by the Noe-Confucianism culture, confucian accounting was established.

지방자치단체 사회복지시설 운영의 효율성 분석

고동원(Dong-Won Ko) 한국콘텐츠학회 2011 한국콘텐츠학회논문지 Vol.11 No.9

지방자치제도의 도입은 지역주민의 요구에 따른 공공서비스의 효율적 공급을 가능하게 하였다. 특히, 자치단체는 지역주민의 복지증진을 위한 다양한 정책과 많은 예산을 편성하는 등의 노력을 하고 있으나, 사회복지 재정의 효율적 사용과 운영에는 상대적으로 관심을 적게 가지고 있다. 이러한 문제점에 따라 본 연구는 전국 16개 광역 자치단체의 사회복지시설 운영의 효율성을 측정하기 위해 자료포락분석(DEA)을 실시하였다. 투입변수는 1인당지역내총생산, 일반회계중복지예산비율, 재정자립도, 만명당사회복지전담공무원수, 산출변수로는 유아천명당보육시설수, 10만명당사회복지시설수, 천명당공원면적으로 하였다. 분석 결과는 다음과 같다. 첫째, 자치단체별 사회복지시설의 효율성에 격차가 있었다. 7개 자치단체가 비효율적이었으며, 부산과 충남이 상대적으로 효율성이 낮게 나타났다. 둘째, 규모수익불변인 DMU는 9개 자치단체이며, 인천, 광주, 강원은 투입요소의 규모를 늘려 각 자치단체의 효율성을 증가시켜야 하며, 부산, 충남, 경남, 경북은 투입요소의 효율성 향상방안을 수립하여야 하는 것으로 나타났다. For introduction of local autonomy system, local government enabled efficient supply of public service by local resident's request. Specially, local governments is doing effort of that organize various policy and a lot of budgets for social welfare promotion, but is interested relatively little in efficient use of social welfare finance and operation. According to these problem, this study measured efficiency of social welfare facility in local governments. The purpose of this analysis is to measure the efficiency of community welfare in local governments by data envelopment analysis(DEA), using data from 16 local governments in Korea. Input variance is GDP per capita in local, rate of welfare budget, rate of financial independence and local public official per 10,000 capita. Output variance is social welfare facility per 100,000 capita and park area per 1,000 capita, The results of the study are summarized as follows : First, There was differential in efficiency about social welfare facilities operation in local governments. 7 local governments(Busan, etc.) was an in efficiency . Second, some local governments(Incheon, etc.) must increase scale of input variance, and some local governments(Busan, etc.) must improve efficiency of input variance.

보험회사 영업행위 규제의 개선 방안

고동원(Ko, Dong-Won),노태석(Roh, Tae-Seok) 성균관대학교 법학연구소 2011 성균관법학 Vol.23 No.3

Along with the new trends of reinforcing the protection of financial consumers due to global financial crisis in 2008, the 2010 amended Insurance Business Act (IBA) of Korea has strengthened the regulations on conducts of business of an insurance company. The main purpose for such reinforcement is to protect the rights of insurance policy holders more efficiently, because such policy holders' bargaining power is believed to be so weak, compared with that of an insurance company. According to this amended IBA, such strengthened regulations including the suitability principle, the duty of explanation and insurance product advertisement regulations, have been newly introduced and implemented. Overall, it is assessed that the new strengthened measures are desirable and have positive effects on insurance consumers in terms of their protection. However, several issues need to be still improved. Thus, this article aims to analyze the problems and issues in regard to the current regulations on business conducts of an insurance company under the IBA and to suggest some recommendations for more efficient protection of insurance consumers. First, since there remain regulatory duplicate by the Fair Trade Commission and the Financial Services Commission (FSC) and double penalties against an insurance company which violates the relevant regulations on insurance product advertisements and general terms and conditions for insurance contracts, these problems need to be so rectified that the FSC should be an unitary regulator in this respect. Second, because the scope of application of the suitability principle is so narrow that it is not sufficient to protect policy holders more efficiently, the suitability principle needs to be applied regardless of whether an insurance contract is offered to potential policy holders by an insurance company, and further it should apply to other insurance products in addition to the current insurance product with variable insurance amount. Third, since the duty of explanation also applies only to an policy holder whom an insurance company promotes, this duty does not operate efficiently to fully protect insurance consumers so that it should apply to insurance consumers regardless of the time of offer of an insurance contract. In sum, the scope of application of the suitability principle and the duty of explanation should be expanded in order to protect insurance consumers more fully.

회계윤리의 동기와 행동개발을 위한 철학적 모델

高東元(Ko, Dong-won) 한국전통상학회 2006 韓國傳統商學硏究 Vol.20 No.2

This paper reviews the literature on ethic education in accounting and utilizes Thorne's Model(Integrated Model of Ethical Decision Making). The paper emphasizes a need to further explore ways of enhancing moral motivation. To increase accounting student's moral motivation, the paper recommends exhorting students to good behavior, pointing out that they are masters of their moral selves, and encouraging them to take pride in their profession. The paper also advocates the use of accounting exemplars to helps instill moral virtues in accounting students.