2011, Vol.20, No.1

Journal of Regulation Studies 2023 KCI Impact Factor : 0.78

pISSN : 1738-7132
https://journal.kci.go.kr/ksrs2002

Korean courts have strictly applied breach of trust under Criminal Code art.355 (2) to corporate governance. The Supreme Court through Samgsung Everland and SDS cases adopted new rule that in case of shareholder-allotment-method a board of directors has autonomy to decide the price of new shares while in case of third-party-allotment-method it should issue new shares with price reflecting market price of existent share. This thesis introduced two decisions of the Supreme Court and reviewed their reasonings with constructive theories of elements of breach of trust. In addition, it examined legal history and element of breach of trust under German criminal law with focus on directors' decision and similar crimes of American criminal law. It argued that reasonable legal policy regarding transfer of corporate control would be in company law, tax law on the bases of recent decision of the Supreme Court exempting dual transfer of effects from breach of trust, regulatory regime regarding corporate governance in American law, and derivative suit from minority shareholder of a company shareholder of Samsung Everland. Rough application of breach of trust with less consideration on form, level of illegitimacy and legal principle of each specialized area should be reserved for a case where evidences for serious disloyal act, damage to corporation, and intent to cause the damage are sufficient. Otherwise, regulations under civil law, company law, and tax law will work in a more appropriate way.

This study intends to insist on the necessity of Regulatory Impact Analysis to the Assembly-introduced Bills which have been exempted from a detailed social benefit/cost analysis in Korea. With the various monitoring systems of Korean National Assembly like Legislation and Judiciary Committee, NABO(national assembly budget office), NARS(national assembly research service), We could not judge sufficiently whether the Bills bring to benefits over the costs to the society. Because these existed monitoring institutions does not adopt the logics of regulatory impact analysis which is useful to analyze costs and benefits of Bills. So, The growing number of bills introduced by assembly which are exempt from the regulatory quality process could be remedied by a permanent monitoring tools like Regulatory Impact Analysis in the National Assembly to assure oversight of the quality of laws.

This study aims at investigating how fortified food information labelling system (FILS) may affect output and demand of food and relevant sectors, consumer welfare, and GDP employing a computable general equilibrium (CGE) model. Although there are a number of studies on direct cost analysis on food due to the FILS or consumer gains from improved information on food, studies on a CGE approach on FILS have not been found frequently. When external shocks which reflect increases in production costs due to the FILS are imposed on input cost structure of food sectors, simulation results show that output of ice cream, Ginseng, and meat processing sectors declined the most relative to other food sectors, while that of labeling, packaging, transport, and service sectors incremented slightly. GDP and consumer price index were barely affected, but consumer welfare diminished considerably by 21.3~118.7 billion Korean won. Hence the simulation outcome shows that cost increases due to the FILS was transferred to consumer mostly. Consequently, the regulatory agent who considers to introduce a FILS should take accont of not only regulation costs but also consumer information gains.