2025, Vol.13, No.3

An Analysis of COSO’s Corporate Governance Framework Public Exposure Draft - Focusing on Domestic Implications of the Principles-Based Approach -

Jung-Hai Moon | 2025, 13(3) | pp.13~52 | number of Cited : 0

Corporate governance serves as a critical foundation for corporate sustainability and long-term value creation. Its importance has grown significantly in response to the proliferation of ESG management, digital transformation, and the expansion of geopolitical risks and other uncertainties. In light of these changes, COSO (Committee of Sponsoring Organizations of the Treadway Commission) and NACD (National Association of Corporate Directors) jointly issued the Corporate Governance Framework: Public Exposure Draft (CGF Public Exposure Draft) in May 2025. This draft reflects an effort to enhance the flexibility and effectiveness of corporate governance through a principles-based approach. This paper analyzes the key contents and structure of the CGF Public Exposure Draft and examines its implications and applicability for Korea’s corporate governance system. The CGF Public Exposure Draft presents practical implementation guidelines through six core components—Oversight, Strategy, Culture, Talent, Communication, and Resilience—along with 24 corresponding principles and related focus points. This structure is expected to help companies assess their current governance systems, set priorities, and establish governance objectives aligned with corporate strategy and risk. The draft allows for flexible and phased application tailored to the size and characteristics of each company. In particular, it offers practical benchmarks even for unlisted companies and small and medium-sized enterprises (SMEs), thereby serving as an alternative to the limitations of Korea’s current regulation-heavy, listing-oriented governance framework. Furthermore, the draft calls for a shift away from shareholder primacy toward a broader governance approach that considers the interests of diverse stakeholders, emphasizing the board's role in promoting ethical responsibility and sustainability. Although the draft was withdrawn in July 2025 due to external feedback and shifts in the regulatory landscape, its principles-based direction and actionable standards remain valid. As such, it offers a valuable reference point for future regulatory reforms and policy development. Based on this perspective, this paper explores the key contents of the CGF Public Exposure Draft and evaluates the implications and feasibility of adopting a principles-based governance approach in the Korean corporate environment.

A Study on the Improvement Plan for the Automobile Insurance Medical Fee Determination System - Focusing on the Enhancement of Medical Fee Standard Research and Survey Functions -

Youngkook Kim | 2025, 13(3) | pp.53~85 | number of Cited : 0

This study comprehensively analyzes the causes of the continuously increasing medical expenses for minor injuries in automobile insurance since 2014, specifically focusing on presenting concrete solutions for supplementing the functions related to the ‘generation’ and ‘management’ of medical fee standards. This increase in medical expenses is primarily attributed to the ambiguity of medical fee standards for non-covered items and the structural limitations of the current fee determination and review system. Particularly, following the entrustment of automobile insurance medical fee reviews to the Health Insurance Review & Assessment Service(hereinafter, HIRA) in July 2013, the supplementary role of the Automobile Insurance Medical Fee Dispute Review Committee(hereinafter, the Review Committee) has weakened. This has made it challenging to establish timely medical fee standards for new non-covered items and to adapt to evolving medical environments. Consequently, this has led to HIRA's limited review capacity and the Ministry of Land, Infrastructure and Transport's(MOILT) insufficient function in developing new medical fee standards, becoming major causes for the ineffective control of unreasonable medical claims, which include inducing overtreatment and increasing unnecessary medical shopping. To resolve these issues, this study proposes not only strengthening HIRA's review capabilities for non-covered items to effectively screen out unreasonable claims, but also emphasizes the critical need to reinforce the systematic research and survey functions for medical fee standards. The core proposal suggests establishing a dedicated organization within the Review Committee, which already possesses the authority for medical fee standard deliberation and dispute resolution. This approach highlights that professional and systematic research is an essential prerequisite for establishing reasonable fee standards and is efficient in terms of operational connectivity, given the Committee's existing authority. In conclusion, this improvement plan is expected to enhance the efficiency and professionalism of the medical fee determination process by entrusting these functions to a specialized institution. Ultimately, it aims to promote an overall improvement of the automobile insurance medical fee determination system, secure the financial soundness of the insurance system, and greatly contribute to protecting the rights and interests of insurance consumers.

Problems and Improvement Measures Regarding Special Regional Rights

park , Yu, Chang-Hoon | 2025, 13(3) | pp.89~134 | number of Cited : 0

This paper provides a multifaceted analysis of the history, current legal system, socio-legal issues, and improvement measures of the special regional rights system based on Article 302 of the Korean Civil Code. Special regional rights originated from the long-standing customs of rural communities, forming rights that allowed specific local residents, as a collective body, to engage in activities such as gathering vegetation, grazing, and collecting soil on another's land. However, their effectiveness has diminished due to modernization, the strengthening of land ownership, and intensive land use. From a legal perspective, unlike general easements, special regional rights only have a servient tenement without a dominant tenement, and the benefit is attributed to a group of people rather than to land—a feature that emphasizes their personal (collective) nature. These rights belong collectively to the community, making transfer or inheritance by individuals difficult, and while most are established by custom, registration is required if they arise by contract. Historically, these rights formed the basis for communal resource management, welfare, and survival within rural communities. In the modern era, however, legal and institutional ambiguities and practical limitations have emerged, leading to disputes and issues of effectiveness. Case law recognizes these rights only when there is clear evidence of long-term customary use and collective affiliation. Comparing with legislative examples in countries such as Germany, France, Japan, the UK, and Canada, this paper critically examines the lack of clarity in Article 302, excessive protection of traditional customary rights, infringements on landownership, administrative inefficiency, and restrictions on economic activities. As improvement measures, the paper proposes to enhance the consistency of the legal system concerning special regional rights, clarify the allocation of responsibilities, introduce a one-stop administrative system, clarify the criteria for designation and termination, institutionalize pre- and post-designation impact assessments and stakeholder consultation, strengthen core protection measures, expand substantive resident participation, establish systems to prevent social conflict and mediate disputes, and develop region-specific, sustainable development strategies. In conclusion, the paper suggests the urgent need for legal and institutional improvements to redefine the social value and legal identity of special regional rights in a changing era, and to ensure a balance between public and private interests, administrative efficiency, and social trust.

The Imagination of a Borderless World and the Political Economy of Migration

Jongho Kim | 2025, 13(3) | pp.135~188 | number of Cited : 0

The economic development of individual countries and the economic activities of mankind are rapidly globalizing, but there is probably no one who accurately understands the whole picture. The argument of this article is based on the World Economic Outlook, “The Macroeconomic Effects of Global Migration.” The increase in immigration is one of the global policy trends of today that is gaining new meaning and becoming active, not only in the interests of receiving countries facing labor shortages, but also in combination with the improvement of the living standards of immigrants themselves and the economic development and advancement of sending countries. However, if we examine the essence of immigration coolly, it is believed that actors such as individuals, governments, sending agencies, and host country businesses act according to specific systems or procedures, and that power relations expressed in the form of a seller’s market/buyer’s market are established there. Based on this essential nature, this article deals with Western political theoretical research on temporary migrant labor and examines its goals and tasks. In addition, it presents the perspective of respecting migrant workers’ life plans as responding to the tasks of previous research and sketches out its policy design. When visiting a foreign country, anyone must cross the border, but she/he cannot find the border in remote sensing images. However, for immigrants crossing the border, the invisible line becomes a barrier beyond the line. Recently, even groups that advocate socialist ideology are criticizing the global society with an ideology that is mostly considered utopian idealism, wanting to promote self-sufficient economic zones. The issue of immigration is a controversial topic. When thinking about the concept of the International labor market, which is the subject of immigration analysis, the most helpful concept is the concept of a ‘transboundary labor market.’ This concept is characterized by focusing not primarily on the practices of individuals who cross borders as can be seen in discussions of transnationalism, but on the establishment of labor markets as complex institutional orders socially constructed through the process of commodification of labor, such as the outsourcing of some tasks to external labor markets, the creation of various regulations such as laws regulating such commodification, the responses of states and businesses that form competitive relationships among participants, and the construction of cognitive orientations and repertoires of behaviors of participants. What is important here is that the labor market across borders is not something that occurs naturally or exists everywhere in the world where there is a capitalist economy, but rather it is something that is established only when a conscious choice is put into practice based on individual and specific circumstances. In this case, the labor of immigrants becomes a common good such as a commodity, and since they are human beings themselves, a movement toward decommodification in the form of setting labor standards is also necessary. In addition, in order for labor to become an object of trade in the international labor market where immigrants participate, it is necessary for the labor engaged in it to be commodified by standardizing and extracting specific tasks. The argument of this paper is as follows: First, wanting to make money abroad is not a second-best option to settling down and living permanently in a job. It is in itself a product of subjective decision-making and should be considered equally as part of one’s life plan. Second, as long as earning money is considered as part of life planning, the relevant political communities (receiving and sending countries) should reorganize their policy systems so that immigrants can pursue that choice without difficulty. Many low-skilled workers have difficulty finding jobs in advanced countries on their own due to resource constraints such as foreign language skills, and it is also difficult for employers in advanced countries to find workers who meet the conditions required in foreign countries with different education and qualification systems.

The Controversial Issues on ‘Religion and Law’ in the United States

Jonghaeng Yoon | 2025, 13(3) | pp.189~211 | number of Cited : 0

A Study on the Election of Superintendents and Reform Strategies for Education Committees to Enhance Substantive Educational Autonomy

Noe, Sang-Ouk | 2025, 13(3) | pp.213~249 | number of Cited : 0

The Necessity of ACE Assessment and TIC Intervention through the Special Study on the Growth Environment of Juvenile Offender in Japan - Implications for Korea's Juvenile Justice System -

Oh, JungYong | 2025, 13(3) | pp.251~270 | number of Cited : 0

A study on the types of damage caused by Online Stalking and the necessary legislative reforms

Park Hyun Jeong | 2025, 13(3) | pp.271~295 | number of Cited : 0

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In modern society, where it is difficult to clearly distinguish between online and offline, direct and indirect social activities are actively taking place in online spaces as well as offline spaces. By utilizing the Internet, the global village can be seen as forming a single living space, free from the constraints of time and space. Online activities are positively evaluated because they allow for the exchange of information, the sharing and communication of diverse perspectives and opinions, and the establishment of a broad social network across all areas of society, including shopping, finance, and business. On the other hand, there are negative evaluations because it carries the risk of unauthorized use due to security issues and exposure of basic personal information. This study examines the types of damage caused by stalking in online spaces, focusing on threatening elements, and discusses the need for revision. In particular, there has been a recent surge in crimes or similar acts targeting others using deepfakes. Therefore, this paper examines the types of damage caused by current laws, focusing on threats to personal information itself, infringements using personal information, and criminal acts using third parties, and proposes measures to improve insufficient areas. Recently, stalking crimes using deepfakes using generative AI have become more sophisticated and advanced, emerging as a serious social problem. Crimes involving AI are more brutal and threatening than those occurring offline, as the damage can occur randomly and indiscriminately. However, current laws are not readily available to address these threats, making government-level countermeasures urgently needed. Recognizing the seriousness of the rapidly increasing number of AI-based crimes in each country, the government is pushing for stronger regulations. However, due to technological limitations and current legal limitations, practical legal sanctions are not being implemented. Therefore, the need for legislative improvements to respond to crimes utilizing advanced and complex AI is drawing attention.

Improvement of Laws and Systems for Revitalize the Pet Cosmetics Industry

Choi, Hyuck , Joung Soon Hyoung | 2025, 13(3) | pp.297~334 | number of Cited : 0

The recent increase in single-person households, changes in lifestyles since the COVID-19 pandemic, and positive perceptions of own a pets have led to an increase in the population of own a pets, and the pet industry is growing rapidly, especially as the culture of considering pets as members of the family spreads. Amid these changes, interest in pet health, hygiene, and beauty has increased due to the popularity of pet humanization, and the pet cosmetics market is growing rapidly accordingly. Among pet cosmetics, shampoos, conditioners, perfumes, and skin care products have become necessities for own a pets clean and healthy. Demand for such pet cosmetics is increasing both domestically and internationally, and the market is expected to expand further in the future. However, currently, there is no clear legal definition and classification system for pet cosmetics in Korea, which limits the development of the industry. In this study, we compare and analyze domestic and international laws and systems related to pet cosmetics and propose measures to improve the laws and systems for the systematic growth of the industry. Through this, we aim to derive policy implications for the sustainable development of the pet cosmetics market. Currently, in Korea, pet cosmetics, such as shampoos, toothpastes, disinfectants, and skin moisturizers, are classified as non-pharmaceuticals for animals under current laws and are classified as "pet medicines" and "hygiene products." Currently, pet cosmetics are classified as "pet health care" in the industry classification, but the relevant laws and regulations are unclear, and it exists as a definition and classification system used only in the market. To manufacture pet cosmetics, permission from the Food and Rural Affairs Bureau and item declaration by the Korea Animal Pharmaceutical Association are required, which requires various documents and facility inspections. In addition, there are many difficulties in manufacturing approval of pet cosmetics, as each manufacturer must have a manufacturing manager. Furthermore, since the industry classification of pet cosmetics is unclear, there is no consistency in the management system, causing confusion for both consumers and companies. To solve this problem, a separate classification system and management standards must be established along with a legal definition of pet cosmetics. The United States does not apply the FD&C Act to pet cosmetics, and they are not regulated by the FDA, but manufacturers must comply with safety and performance standards. Germany classifies pet cosmetics as "animal care products," and although manufacturers do not go through the approval procedures for animal drugs, they are regulated by various laws and manufacturers must ensure the safety of their products. China classifies pet cosmetics as "pet products" and manages them without the permission of the National Medical Products Administration, but they are managed according to local regulations, and products must meet the safety technical requirements of the national recommended standards for the safety of pet products. In Japan, pet cosmetics classified as "animal miscellaneous goods" can be manufactured and sold without a separate license, while products classified as "animal medicines and non-medical products" must obtain a manufacturing license. In order to strengthen the competitiveness of Korea's pet cosmetics industry, it is necessary to clarify the definition and classification system, relax the regulations on manufacturing and sales licenses, and improve the system to lower the entry barrier for small and medium-sized enterprises. In addition, measures must be taken to flexibly respond to changes in international regulations. The main objectives of this study are to resolve the ambiguity of the legal definition and management system of the domestic pet cosmetics industry, present system improvement measures that reflect international regulatory trends, examine the details of the measures, and derive policy directions for the sustainable growth of the industry.

- Review on Validity of Organizational Separation through Analysis of Latin American Security System -

Kang Sun | 2025, 13(3) | pp.337~363 | number of Cited : 0

The Role of Crisis Negotiators in the Manhunt

Lee Keon Su | 2025, 13(3) | pp.365~392 | number of Cited : 0

In search and apprehension operations, crisis negotiators play a crucial role in de-escalating potentially violent situations and facilitating the safe apprehension of suspects. They utilize expert communication skills and psychological understanding to assess the situation, build rapport with suspects, and encourage voluntary surrender. Their primary goal is to save lives and minimize harm to all parties involved, including suspects, law enforcement, and the public. The key roles and responsibilities of crisis negotiators in manhunts include: Negotiators assess the suspect’s mental state, criminal history, potential for violence, and signs of suicidal behavior. They also analyze the initial incident to determine the suspect’s motivations. Negotiators establish communication channels, such as telephone and radio, to build rapport with the suspect and initiate negotiations. They use active listening, empathy, and verbal communication skills to build trust and encourage cooperation. Negotiators strive to defuse tension in a situation by easing tension, providing time for suspects to express their feelings, and encouraging rational decision-making. Negotiators use communication strategies to influence suspects’ behavior, aiming for a peaceful resolution and voluntary surrender. While prioritizing negotiation, they work closely with tactical teams (such as SWAT) to ensure a coordinated response and a safe outcome. After the incident is resolved, negotiators can provide support to hostages, suspects, and law enforcement officials. Negotiators participate in ongoing training to stay up-to-date on communication skills, psychological principles, and emerging trends in crisis situations. Examples of situations in which crisis negotiators engage include barricaded suspects, hostage situations, individuals at risk of suicide, individuals experiencing mental health crises, and crimes involving violence or threats of violence. Crisis negotiators utilize their expertise to play a critical role in resolving dangerous situations during search and rescue operations, ultimately contributing to the safety and well-being of all involved.

Facilitators' perception of restorative poling - Focusing on the restorative dialogue program -

Lim, Hyungjin , MoonKwi KIM | 2025, 13(3) | pp.393~424 | number of Cited : 0

This study examined how facilitators perceive the restorative dialogue program being promoted by the National Police Agency. To this end, a survey and analysis were conducted with 144 facilitators, and the results are as follows: (1) Facilitators recognized that resolving conflicts and restoring relationships between the parties is more important than compensation for damages, and they believed that the success of restorative dialogue depends on the restoration of relationships between the parties. (2) Many perceived the role of the facilitator as that of a supporter who helps facilitate relationship restoration through dialogue. (3) Facilitators believed that the current level of police involvement (participation) is appropriate. (4) They recognized that the restorative dialogue program is essential to complement the typical police activities focused on apprehending offenders. (5) Facilitators perceived restorative dialogue as more effective than existing investigative procedures in terms of victim recovery and preventing recidivism. (6) They showed somewhat negative reactions regarding the possibility of restorative dialogue in cases of sexual offenses. (7) Facilitators generally held a positive view on the necessity for facilitators to contact the parties in advance to increase the rate of agreements. The results of this study have several policy implications: (1) While police officers directly facilitating restorative dialogue programs could be efficient by reducing the time and costs associated with securing professional facilitators from specialized agencies, this approach seems to require sufficient discussion. (2) It appears necessary to establish a clear understanding of the facilitator's role within restorative dialogue programs. (3) To improve the effectiveness of restorative dialogue programs, it is essential to strengthen pre-contact between facilitators and both offenders and victims. (4) There is a need to continue expanding restorative dialogue programs, for example, by identifying more cases suitable for these programs. (5) When referring cases to restorative dialogue programs, caution is required for sexual offenses and serious violent crimes. Conversely, cases involving violent crimes between acquaintances, domestic violence, property crimes committed by juveniles, and violent crimes committed by juveniles could be confidently referred. (6) It is necessary to develop restorative dialogue programs into one of the key recidivism prevention initiatives.

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Legal Theory & Practice Review 2024 KCI Impact Factor : 1.08

2025, Vol.13, No.3