초록 열기/닫기 버튼
This Article has dealt with the executive pay in terms of its regulation and its regime by criticising various literatures and court decisions. I have tried argued, by the interpretation of Article 388 of the Commercial Code, that the simple approval of the general meeting of shareholders in the Code is incomplete and not enough to regulate the current issues in relation to managerial remunerations (including chief executive officers). It is notable that the developed countries like the United States, Germany, and Japan promulgated the relevant acts in order to regulate and control the executive pay as a realm of the Corporate Governance. They also have amended the appropriate regulation for the reasonable amount of executive pay considering their performance and the streng- thening of the disclosure obligation on the companies of the relevant information about the executive pay. In this regard, I strongly recommend that law reform have to be made to meet the current problem with regard to executive pay and the strengthening of disclosure obligation on the company by acceptance of the regime of the capital-market developed countries like the U.S. and the U.K. in order to tighten the clear and thorough Corporate Governance by the shareholders as well as invellors.
