미국의 기간산업보호와 액슨-플로리오법(Exon-Florio)

Recently, there have been growing concerns against foreign investments trying to takeover national basic industries in Korea. This article introduces the Exon-Florio act of the United States, which is allegedly one of the best models for the regulation of foreign investments.First, to begin with, the article discusses the concepts of, and the differences among, “critical infrastructure”, “critical industry”, and “essential commerce”, which have very similar meaning with the basic industries. It also gives an outline of the foreign investment regulation in those areas. Second, the article traces a detailed history of the legislation of the Act to exactly know the legislative intent. Then, it gives a full account of the contents of the Exon-Florio provision. Next, the study introduces the structure and operation of the actual manager of the Exon-Florio act, the “Committee on Foreign Investment in the US(CFIUS)” and the recent prominent M&A cases having given great effects on the Act. Finally, the paper presents some suggestive issues which have been hotly debated in the history of the Provision in the US for the similar legislation in Korea.The issues are as follows: First, whether the new regulation should protect “national economy” or “essential commerce” beyond the traditional “national security”; Second, whether the regulation should be alternative or duplicative; Third, the concept and the scope of the national basic industries; Fourth, the scope of the protection by the regulation; And last, the actual manager of the new regulation for foreign investments.