집행임원의 책임에 관한 회사법적 검토

On April 11th 2011, the revision of the Commercial Code was passed in the National Assembly of the Republic of Korea. Among the various articles which were codified in the revision of the Commercial Code, articles related with executive officer was introduced to the Korean Commercial Code. In the article 408-8, liability of executive officer was defined like below ;(1) In cases where an executive officer has acted intentionally or with gross negligence in violation of any Act or subordinate statute or of the articles of corporation or has neglected to perform his/her duties, he/she shall be liable for damage against the company with executive officers. (2) in cases where an executive officer has neglected to perform his/her duties intentionally or with gross negligence, he/she shall be liable for damage against a third party, if any. (3) In cases where an executive officer ia liable for damage against the company with executive officers or a third party, if other executive officer, director or auditor is also responsible therefor, the executive officer shall be jointly and severally liable for damage with such other executive officer, director or auditor Executive officer have to be liable to the corporation and third party for some cases described in 408-8. In this paper many problems such as jointly and severally liability for corporation and third party in some cases, limitation of liability for executive officer and applying business judgment rule to executive officer were reviewed. Complementary points in terms of interpretation and legislation of Commercial Code are needed to operate executive officer system in framework of Commercial Code functionally. If Complementary points are met requirement, executive officer system should help develop corporate governance.