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영어

The duties of providing information for the contracting party have been acknowledged by scholars, although that is not stipulated in substantive enactment of Korean Civil Code.
However there have been no discussions on the means of compensating damages and calculating the amount of damages yet. Without proper compensation of damages, it would be insufficient to protect victims even though the liability of the violation of duties are recognized. Setting a boundary of damages is a difficult task when the duties of providing information are violated, especially in the field of securities Investment Trust. As there are many recent cases on the issue of liability on the violation of duties, this paper will investigate this issue.
The Korean civil law has solved the problem regarding the scope of protection through excluding injury of legal rights from legal components that is generally required in torts. So it would be a reasonable approach if we regard this accountability as tortious liability. Moreover, this approach gains more reasonable grounds because strict conditions such as fraud and error required by the provisions of discharging contract, hinder the sufficient protection of victims. However, calculating the amount of damages still remains as a question. Though Capital Market Law, which has been revised recently, tried to solve this problem legislatively by adopting provisions on presumption of damages, it still remains a possibility of unfair conclusion in specific cases if these provisions are interpreted strictly.
Therefore, in calculating the damages of violation of information providing duties, it would be a helpful reference to examine the method adopted by US courts which regard the total financial losses as the amount of damages and adjust the amount of damages with the floating rates of stock market.