On Korean Squeeze-Out Legal Institution And The Enlightenment For China

In 2011, the Korean commercial law established a controlling shareholder can enforce the system of all minority shares. Controlling shareholder’s purchase request right and minority shareholder’s share repurchase request right. Then, in 2014 and 2015 South Korea to the commercial law part of the contents of the amendment, but the two amendment did not change the content of the system. South Korea into the system, in order to reduce because of the minority shareholders are the business cost and effectively respond to changes in the economic environment, business efficiency is improved, expect this system in corporate restructuring to help. Korean Commercial Law stipulates that the total number of shares issued by 95% of the controlling shareholder of the company’s business purposes, to the minority shareholders to request the purchase of the shares held by the company (commercial law 24 first 360th). The above provisions to enable specific shareholders (owns most of the shares) the company reduce the shareholders general assembly operations and other related expenses, improve operational efficiency, in a legal way extrusion method of minority shareholders.China has not forced out of the legal system of minority shareholders, but also related to the shareholders of the legal system is still not perfect, and the academic circle on the theory of the system is not comprehensive and in-depth. By 2015 China’s "Securities Law" draft of takeover of listed company chapter relates to the relevant content, but the system is research stage, and the provisions of the draft is too principle, and no balance between a good embodiment of the value of equity and efficiency. If we affirm this system from the law, we will further promote the integration and upgrading of our company. In this paper, through detailed investigation of South Korea the newly revised law on compulsory extrusion minority shareholders of the legal system, namely, the controlling shareholder of a minority stake in all made legal system, to analysis China’s acquisition of shares in the relevant legislation, and put forward the necessity of the system. Studies on the structure of this paper is outlined as follows:the first chapter is the introduction part introduces this thesis research background, significance, methods; a minority stake in the second chapter provides an overview of the compulsory purchase of the legal basis for the legal system; the third chapter detailed study of the Korean minority stakes in the compulsory acquisition system of legislative provisions; the fourth chapter through the case introduces the necessity of China’s lack of correlative legislation difficulties caused by the acquisition of the company and the related system; the fifth chapter to build a minority stake in China’s compulsory acquisition system as the center, puts forward some suggestions of relevant supporting system.