결합기업의 회사법상 쟁점에 관한 검토

Since the holding company system was allowed under the MonopolyRegulation and Fair Trade Act in Korea, Korean business society’s interesttoward the system has increased owing to market’s positive evaluationregarding simple and transparent ownership structure and corporategovernance of the holding company system. As a result, as of the end ofSeptember 2011, the number of holding company filed in Korean Fair TradeCommission was 105, among them the number of general holding companywas 92, and that of financial holding company was 13. In addition, theConglomerate, Chaebol, being formed through cross investment amongparent and subsidiary companies became unique Korean corporate culture. Regarding corporate issues such as right and duty between controllingcompany and subsidiary company, the protection of those companies'minority shareholders and creditors, current corporate law which wasestablished on the assumption of single corporate entity was applied inorder to solve those legal issues. However, these attempts failed owing tothe deficiency in relation to right protection and coordination of conflict ofinterests. This study analyzes legal system of combined business enterprises ofEurope, Germany, United States, and Japan comparatively, and reviewscorporate law issues and legal measures to deal with those issues with respect to combined business enterprises system in Korea. It proposes toadopt the situation based approach, to introduce double derivative actionand the right of access to account books. It also suggests to introduceinternal control system and to codify the article to protect minorityshareholders of controlling company and subsidiary company.