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Stabilization measures on Registration System of Security over Movable Property

  • DONG-A LAW REVIEW
  • 2015, (67), pp.219-246
  • Publisher : The Institute for Legal Studies Dong-A University
  • Research Area : Social Science > Law

WOOJOO BYUN 1

1동아대학교

Accredited

ABSTRACT

The security system in Korea used real estate as a means of financing are being utilized as the main way. Especially, in order to get a finance, the typical method which provides movable property with security in Korea is to establish the right of pledge or to use transfer security. In addition, to evade the transfer of the possession and to avoid the loss of the use profit which is caused by transfer of possession, movable property owner substitutes the right of pledge and there is a tendency which uses transfer security. In this regard, there is a need to find measures to provide a movable assets as collateral and financing that may be made to the safety of transactions. As a result, recent 06. 10. 2010 「Act on security over movable property, claims, etc.」 are established, 06. 11. 2012 registration system as registration of security interest in movable property is being implemented. But, there were a lot of expectations and concerns whether the terms and conditions for the implementation of the system is provided or whether it can be a real role in the financing of small and medium business and small scale businessman. Therefore, after the introduction of the registration system to date, the composition of the various conditions for the settlement of the system is necessary. This paper, in order to activate the registration system as well as the problems of the jurisprudence that had been pointed out as in the past, tries to do some suggestions for practical discussion to invigorate security system over movable property.

Citation status

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