Regulations of Recent Civil Act have been enforced without drastic amendments since Civil Act was enacted 1960. But, meanwhile the recent Civil Act is not adequate to manage it for the continuance changes in the domestic and foreign business circumstance regarding the civil parts. For these reasons, the Ministry of Justice has revised the Civil Act from 1999 and proclaimed the draft bill of it including the amendments of the security system. On the other hand, Japan had got to reform the execution and security legal system from 2002 and promulgated the revision act at August 1st, 2003 so as to resolve the economic and social problems due to the bubble economic shambles. And, France also finished reform the security legal system to modernize and promote the efficiency of the security system in 2006. Security system stands in need of the revisions keeping pace with the rapid changes in the recent financial circumstance since security system is indispensable with the financial dealings. These revisions are need for the modern reform of the security system harmonizing with the financial dealings in a short period and also for the globalization of the security dealings as the nationalization of the financial dealings in a long period. This paper proposes the legal advice for the security right regulations in the Civil Act draft by evaluating and reviewing the contents.

Regulations of Recent Civil Act have been enforced without drastic amendments since Civil Act was enacted 1960. But, meanwhile the recent Civil Act is not adequate to manage it for the continuance changes in the domestic and foreign business circumstance regarding the civil parts. For these reasons, the Ministry of Justice has revised the Civil Act from 1999 and proclaimed the draft bill of it including the amendments of the security system. On the other hand, Japan had got to reform the execution and security legal system from 2002 and promulgated the revision act at August 1st, 2003 so as to resolve the economic and social problems due to the bubble economic shambles. And, France also finished reform the security legal system to modernize and promote the efficiency of the security system in 2006. Security system stands in need of the revisions keeping pace with the rapid changes in the recent financial circumstance since security system is indispensable with the financial dealings. These revisions are need for the modern reform of the security system harmonizing with the financial dealings in a short period and also for the globalization of the security dealings as the nationalization of the financial dealings in a long period. This paper proposes the legal advice for the security right regulations in the Civil Act draft by evaluating and reviewing the contents.

Korean Mortgage, Floating Mortgage, Mortgage Civil Law Amendment, Security, Secured Claim