우리나라 不動産投資會社 制度의 發展方向에 관한 硏究

다국어 초록 (Multilingual Abstract)

Real Estate Investment Company Act, which becomes effective in July is deemed to have a positive effect on the disposition of real estate assets held by the companies and banks that are under the restructuring.
The system has been adapted, first from the macroeconomic perspective, in order to boost the market after the financial and currency crisis, and secondly from the real estate industry's perspective, to activate its market and to lead into more advanced industrial structure.
The adaptation of the system is meaningful in economical senses because it can increase the demand for real estate, make the real estate market advanced and transparent, help capital market to grow, diversify the choices of individual investors, upgrade the professionalism in real estate investment, provide the ways to fund constructions, and assist restructuring of companies.
Hence, together with the opening of real estate market to foreigners, acquisition of distressed asset through KAMCO, acquisition of land owned by companies through Korea Land Corporation, and allowing banks to raise Real Estate Trust Cash Fund, REITs is thought to work as a way to increase the demand for liquidity-lacked real estate for sale.
Meanwhile, Groups, banks, security companies, governmental investment companies, developing companies, and trust companies are exploring ways to enter the market. The potential market size is expected to be at a minimum of 5 trillion won to a maximum of 30 trillion won depending on the market condition. The shift of paradigm in the real estate industry is expected to be inevitable in this process.
In order for REITs to take root and have constant development, the real estate investment culture should settle down, investor protection system should be reinforced, infrastructure for the industry should be built, the balance in different business types should be maintained, the regulation on foreign debt should be eased, and mortgage system should be adapted.

목차 (Table of Contents)

• 제1장 서론 = 1
• 제1절 연구의배경 및 목적 = 1
• 제2절 연구의 방법과 내용구성 = 3
• 제2장 리츠의 개념 = 4
• 제2절 리츠의 개념 = 4
• 제2절 리츠의 의의 = 4
• 제3장 외국의 리츠제도 운영사례 분석 = 8
• 제1절 미국의 리츠제도 = 8
• 제1절 호주의 리츠제도 = 35
• 제1절 일본의 리츠제도 = 46
• 제4절 각국 리츠제도의 비교 및 시사점 = 68
• 제4장 한국의 리츠제도 도입배경과 의의 = 72
• 제1절 도입배경 = 72
• 제2절 사회경제적 의의 = 73
• 제5장 한국 리츠제도의 운영구조 = 79
• 제1절 부동산투자회사법의 주요 내용 = 79
• 제2절 부동산투자회사법 시행령의 주요내용 = 84
• 제3절 부동산투자회사제도의 기능적 구조 = 85
• 제4절 유사제도와의 비교 = 86
• 제6장 한국 리츠산업의 발전 전망 = 89
• 제1절 부동산산업의 변화 = 89
• 제2절 리츠사업의 시장 잠재력 = 90
• 제3절 리츠사업 관련 직종별 진출 환경 = 97
• 제7장 한국 리츠제도의 발전 과제 = 100
• 제8장 결론 = 108
• 제1절 요약 = 108
• 제2절 시사점 = 109
• ABSTRACT = 111
• <참고문헌> = 113
• <부록> = 116
• 1. 부동산투자회사법 = 116
• 2. 부동산투자회사법 시행령 = 127
• 3. 일본 투신법의 주요내용 = 137