국제 동향에 비추어 본 한국 동산채권담보법제

The「Act on Security over Movable and Receivable, etc」was enacted on 10 July 2010 and became effective on 11 June 2012. This legislative measure was obviously a landmark turning point in Korea’s secured transaction law. However, this new legislation was not welcomed and utilizied as much as it had been expected. Despite the government’s paternalistic intervention to boost secured transactions on movable and claims, it still account for insignificant portion of the whole secured transactions. It is not only governmental policy measures but also reshaping and improvement of the law itself that will motivate the market players to be more actively involved with the utilization of this new legal vehicle. Against this background, I evaulated and discussed the current legal regime in Korea in light of the international trend in the secured transactions law as well as fundamental principles enshrined therein. On this basis, I also presented some proposals for the improvement of the domestic legal regime. UCC Article 9 is considered a prototype of a modern secured transaction law. The UCC model did away with complex, fragmented and inconsistent legal regime and came up with a comprehensive framework encompassing all types of security interests without regard to its legal formality. Further, it separated the attachment and perfection of a security right, adopted a notification registration system, and allowed bigger room for private enforcement. This model has been extended to British Commonwealth countries such as Canada, Australia and New Zealand on the one hand, and on the other hand to continental law countries through various international model laws. As for international model law, UNCITRAL's legislative guidelines and model law are particularly noteworthy. The basic principles underlying this set of norms can be summed up as comprehensiveness, efficiency, and autonomy. In addition, these norms adopted creditor-friendly provisions to ultimately broaden the path for debtor's financing. Korea has adopted this international trend to a large extent, but it still has its own internal and external limitations. Bearing this in mind, the Korean government recently employed and implemented various policies for revitalization of secured transactions based on the new law. The Korean government even submitted, in March 2020, a revised bill of the law. Although the revision of the law did not take place due to the expiration of the term of office in the National Assembly, there remains a momentum for future legislative measures. In implementing these measures, ① expansion of the scope of the law so as to cover more debtors in more secured transactions on more assets, ② review of the possibility of adopting a notice registration system, albeit in a transformational form, ③ reinforcement of the preservation and monitoring of the assets (including the introduction of sanction provisions), ④ the vitalization of private enforcement, and ⑤ dealing with the issue of the transfer of ownership for security, which seems to be an obstacle in the utilization of the new law, are the topics to be addressed.