동산채권담보법상 동산담보권의 물상대위에 관한 연구

When the Korea National Assembly had passed the Act of Security over Movable Property, Claims, Etc. in 2010, Movable Security System with Registration was introduced in Korea. This paper examined the real subrogation’s right of movable security interests of the Act. Real Subrogation of movable security interests are defined in §14 as followings.; A security interest in movable property may be exercised against money or other articles which the person who has created the security interest is entitled to receive, when the collateral is sold, rented, destroyed, damaged, or expropriated for public services. In such cases, such money or things shall be seized before being paid or delivered. The Act expands the cause of real subrogation in security interests than those of civil code. Real subrogation of security interests in civil code is granted to loss, defects, expropriation to the collateral. When the collaterals of movable with registration were sold or leased to the third party, a security interest in collateral continues in the money or other articles which the person who has created the security interest. This paper examined the reason of expanding the cause, interpretational problems and consideration to improve subrogation of the movable security interest in the Act.