FT紙「韓国(金融政策)は精神分裂症」
Financial Timesの記事の"Seoul's new rules anger overseas investors"Investors in South Korean companies have complained about a “draconian” requirement to disclose the identities of their chief backers to the country's Financial Supervisory Service by the end of this week. The sudden move applies to the shareholders or sources of capital of any company or fund owning more than 5 per cent of a South Korean business. It tightens controls on foreign investors, who had been told to declare by Tuesday night whether they planned to “influence” the managers of South Korean companies.The changes come after Dubai-based Sovereign Asset Management's aggressive campaign to overhaul the management at SK Corp, South Korea's largest oil refiner, and public outrage at a $1bn tax-free profit made by Newbridge Capital, the US private equity fund, when it sold Korea First Bank in January after owning it for less than five years. Foreign investors were furious about the latest change, saying it was inconsistent with South Korea's ambition to become a financial hub for north-east Asia. “But what I really can't bear is that Korea is so dishonest,” said a foreign fund manager in Seoul, emphasising the disparity between the country's rhetoric on wanting foreign investors and its behaviour towards them. Brendon Carr, an attorney at Aurora Law Offices in Seoul, said the aim was to control what are seen as the “pernicious” effects of foreign capital. “Koreans [mistrust] funds because their only object is to make a profit, and under the Confucian system profit is immoral.” Although the rules apply to all investors, the regulator implicitly acknowledged yesterday they targeted foreigners. “We have the right to know who is the main investor and we want to know who is investing in our country, in case they are a paper company,” said Yoon Song-han, director of disclosure supervision. The FSS announced last month that all investors had to disclose by Tuesday whether they planned to influence managers in companies in which they had bought a stake, although it did not define “influence”.Many investors have said they plan to exercise such influence, fearing that otherwise they could be condemned merely for meeting the chief executive of a company in which they own shares. The latest regulation, introduced this week, requires that by Saturday investors declare their legal status and management structure, the names of their largest backers and how they raised the capital for investment. The FSS and a cross-party group of lawmakers are backing legislation stipulating that at least half of the directors of domestic banks must be South Korean. The government is also encouraging the establishment of domestic private equity funds to try to prevent Woori bank, the largest domestic bank, from falling into foreign hands.Many analysts also believe the public would not tolerate a foreign takeover of Jinro, the troubled liquor company, for which bids closed on Wednesday. この記事を受けての朝鮮日報の記事です。「韓国政府が表では外国人投資誘致に積極的であるかのようだが、実際には外国人を弾き出しており、正直でない。こういった点は我慢できない」、対日では日常です。「韓国が製造業で中国に差をつけられるなど、ビジョンがないため、北東アジアの金融ハブを目指すとしているが、財閥を擁護するだけでは実現できない」、ごもっとも。韓国も国際社会で認めてもらいたいのならこの自己矛盾的をなくさないと。国内向けと国外向けがあまりも違うと金融だけでなく他のことでも精神分裂病と言われてしまいますよ。でもこれでまた海外からの投資のハードルが上がってしまいましたね。なんといっても、ある企業の株を5%以上取得した場合、legal status and management structure, the names of their largest backers and how they raised the capital for investmentなどの届出をしないと株主の権利である1.理事および監査の選任・解任または職務の停止2.理事および理事会など会社の機関と関連した定款の変更3.会社の資本金の変更4.会社の配当決定に対する影響5.会社の合併(簡易合併および小規模合併を含む) および分割6.株式の包括的交換および移転7.営業の全部または重要なことの譲り受け8.資産の全部または重要なことの処分9.営業の全部または重要なことの賃貸,経営の上である または他人と営業の損益全部を共にする契約その他これに準する契約の締結,変更または解約10.会社の解散に対する議決権が行使できなくなるのです。こっれって株主の権利を行政が制限していることになります。その届出をしないと、普通株が無議決権株になってしまうということです。欧米から見たら韓国って資本主義を理解しているの?って思われるでしょう。言論の自由も民主主義も理解してないぐらいですから資本主義も理解できないのでしょう。これでも「先進国」と主張したい?やっぱり中進国ですね。