전자증권제도에 의한 주식제도의 변화와 주주명부의 기능 강화

The electronic securities system is to realize the complete dematerialization or electronicization of securities based on the developed deposit settlement system. In order to distribute stocks and other rights, the issue of physical form is no longer necessary, and a company to which the electronic securities system is applied can no longer issue traditional certificated securities. It is a major innovation of securities regime in commercial law. It will bring about a big change in the operation of the corporation and stock system under the commercial law. Various matters related to stock, such as issuance of certificates, transfer of title, closing of shareholders' list, will be omitted, even including beneficial owner system and beneficial owner list under Capital Markets Law. The investors can exercise its shareholder rights directly to the company by restoring its shareholder status under commercial law. The shareholders' list shall be made regularly (quarterly) in addition to the record date, and in case of necessity for the identification of the shareholder (stipulated in the articles of incorporation). Above all, it is anticipated that the relationship between the company and its shareholders, which have been severely cut off, will be greatly improved as the shareholders' list which has been divided by the deposit system, will be united and regained its original legal status. To this end, it is necessary to expand the reason for notifying the owner's details for the shareholder list, and also it is necessary to add the shareholder's contact information (e-mail address and telephone number) on the shareholder list. In addition, it is also needed for the company to grant the right to request shareholder information from the electronic registrar and the account manager.