동일인관련자 범위의 중심성지수 분석

초록

South Korea introduced the same person designation rule to curb the concentration of economic power in the 1980s under which a natural person, most often the largest shareholder, is designated to be the actual controlling shareholder of a conglomerate group. Further, the Korean Fair Trade Commission designates a wide range of common shareholders including a certain members of family lineage, executives and other related parties as parties related to the same person. This rule imposes considerable onus on the designated parties such as periodic reporting of shareholding and criminal penalties for non-compliance. As the same person designation rule has been in force for more than forty years, we investigate whether the normative perception of the rule is still valid by using an algorithm analysis; that is, the centrality index. Our findings suggest that the shareholding of the parties related to the same person does not make a significant contribution to the controlling power of the same persons except that of the same persons’ spouses and close relatives, which we argue calls for a more realistic regulatory approach. We also suggest that the limited role of the parties related to the same person may have resulted from the Korean antitrust policy that has encouraged conglomerates to adopt a holding company system structure.

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