부동산개발금융의 채권보전방안에 관한 법적 고찰

부동산 개발금융 PF의 구조와 채권보전 방안을 법적으로 검토했다.

Project Financing means a contract of loans between borrower and debtor for financing as well as includes other commercial transactions accompanying the project. Project Finance requires massive amounts of funding and involve high risks. This study investigates the problems of the structure of project finance, it`s features of non-recourse or limited recourse and the involving parties. The study will present the efficient solutions of the problems. The substance of this study is bounded to present and suggest facing problems and efficient ways to remove obstacles by analyzing the security of project finance in Korea.

Every issue was studied and analyzed through referring to the relevant documents about the structure of the project finance. There are many problems of security system in project finance. In the case of our country, the enforcement agencies lack professionalism as developing entities with poor funds, which makes delay and interruption of the business inevitable, when problems occur during the business proceeding course, and increases the probability of the enforcement agencies going bankrupt. So I scrutinized the aspect of the current security system. We have partially similar system like gathered movables transferred security and plant mortgage.

But they have their own problems so we need to limit the accompaniment of security. Therefore I sought to the possibility of similar effect like security trustee or security agent, and I found the Act Secularized Bonds` Trust, security trust system using the trustee administrator, and issuing the exchangeable bonds. In order to rehabilitate a domestic PF and level up to an international criteria, a stakeholder must go back to the PF in the true sense and fix the financial systems, which consists of relevant and the development of the capital market for the PF.

Also by systematically upbringing professional evaluation organs that can evaluate real estate development business with objective perspectives, fair evaluations should be available.