부동산 간접투자 활성화를 위한 과제 = The Challenges of Indirect Investment in Real Estate

다국어 초록 (Multilingual Abstract)

The Real estate Indirect Investment Management carries out functions such as offering the proper vehicle of asset management in the aging society, enhancing the transparency in the real estate market, improving lagged practices, and furthermore supporting the corporate restructuring indirectly. In other word, The Real estate Indirect Investment Management is very meaningful to the national economy because it encompasses the real estate, the finance, the investment, the corporate restructuring and so on. Therefore, we have to improve the real estate investment management system from a broad point of view in order to carry out above-mentioned functions efficiently. Concrete policy assignments are such as; First, We have to unify the legal systems, which are divided as two, into Financial Investment Services and Capital Market Act in order to lead healthy development of the Real Estate Fund Industry. Second, we need to revise the Real Estate Fund regulation by generally reviewing the current regulation, Third, we need to improve the tax system that is related to the real estate fund, When improving, we consider that the tax system is an important tool for pool or indirect investment, Also We need to reinforce the related require ment in order to prevent the tax evasion. Lastly, we need to regulate the real estate finance to some extent such as Fund, Asset Back Securities in order to protect the investors, enhance the efficiency of the resource allocation and secure the stability of the economic system.

참고문헌 (Reference)

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2 손재영, "한국의 부동산금융" 건국대 출판부 2008

3 최성걸, "부동산간접투자제도의 문제점과 개선방안 : 사모펀드와 REITs를 중심으로" 동국대 경영대학원 2007

4 김석준 의원실, "부동산간접투자 활성화를 위한 정책제언" 2006

5 최승재, "미국 서브프라임 모기지 관련 소송의 현황과 전망*" 한국증권법학회 10 (10): 403-443, 2009

6 "금융감독원 보도자료, 자본시장을 통한 부동산개발금융 실태점검 결과"

7 財務省財務總合政策硏究所, "集團投資スキ-ム-改正後の 新しい投信法と資産流動化法を中心にして-" 2001

8 落合誠日, "比較投資信託法制硏究" 有斐閣 1996

9 Amy L. Goodman, "The Investment Company Regulation" Aspen Law & Business 1998

10 윤장호, "REITs 관련 법제개선방안에 관한 연구: 부동산펀드와의 비교를 중심으로" 건국대 부동산대학원 2007

11 James M.Storey, "Mutual Fund Law Handbook" Glasser LegalWorks 1998