간접투자자산운용업법상의 사모펀드 활성화 방안에 관한 연구

간접투자자산운용업법상 사모펀드의 활성화 방안을 연구했다.

영문초록:A Study on the Plan for Activating Private Equity Fund in the Indirect- Investment Asset Operation LawWon, Koo-YunMajor in Real Estate ManagementGraduate School of Real Estate Kon-Kuk University Owing to the changes in market and policy related to real estate investment under the rapidly changing environment, investment in real estate using the indirect investment scheme has increased rather than direct investment in the real estate market. In keeping with this trend, the plan to improve the government policy is required to compete with foreign capital.

The legal form of establishing private equity fund should be left to the choice of the fund, and the amendment of the law should be made to actualize the requirements for leasing such as addition of joint fund management by escrow account, promise to undertake debts and the like.The implementable amendment of laws is needed to include the provisions of private autonomy such as the deregulation of the provisions of borrowings by analysing the actual conditions of operation of the current development project.

And it is necessary to reestablish as the concept of real estate fund operable as lending more than the given amount of fund assets to real estate, realty-related investment securities and realty-related company The concept of special asset fund should be reestablished by identifying the actual condition of the nature and operation of fund and it is necessary to improve the contradiction of the system that a small amount of real estate should be acquired though formally. When it is possible to investment a small amount of money, small-amount investors come to be provided with an opportunity to invest.

This would be the direction of policy consistent with the government policy, the efficient allocation of resources. It is necessary to make it a principle to adopt separate taxation on land the organization for indirect investment in real estate acquires. It is necessary to ease and lift restrictions on land by a great margin so that portfolios may be composed through diverse financial techniques and apply the same principle of taxation on private equity fund(PEF) at home and abroad. It is necessary to devise the plan to activate it by actively benchmarking the foreign case.

It is important to train and educate specialized manpower armed with the ability to operate assets as well as this improve governmental policy in an institutional sense. And it is important to have specialists hold on to the attitude of contributing to the high yield through the development of diverse real estate goods and reinforce the publicity and operating services of the fund. And it can be said that it is important for operating companies and their employees to make efforts such as the enactment of ethic codes capable of restoring the reliability of the fund operating company.

Making an indirect investment can achieve the purposes of creating many jobs related to the real estate industry, stabilizing the financial market and stabilizing the real estate price and the like. Government should actively encourage investors to invest in th sound industry so that it may establish itself as the stable and reasonable investment scheme