초록

When mergers and acquisitions of the companies having national security sensitive technology were occurred by the foreign companies, national security reviews are necessary to protect national security interest. The United States enacted Exon-Florio amendment to give the U.S. president the authority of such national security review. However, the U.S. government exercised such review authority using case by case review approach to balance the encouragement of foreign investment and the protection of national security. It did not abuse the power only to protect domestic companies from mergers and acquisitions by the foreign companies. Korea has similar national security reviews in The Act for the Promotion of Investment by Foreigner and Telecommunication Business Act. National security reviews in Korea must not be used just as defenses against hostile take over by the foreign companies. Instead, it must be used to protect national security. Moreover, the industry specific national security reviews are more desirable than the general national security reviews since they can use industry specific expertise to evaluate the national security issues. The scope of national security review must be confined to the national security sensitive industry and companies. Expending national security review to all the large foreign investments regardless of the characters of the industry is not desirable. The committees, which are in charge of national security review, also need to propose reasonable conditions to be attached to the foreign investment instead of disapproving the investment or ordering divesture of the acquisition when they found foreign investment could be threat to national security.

키워드

국가안보 심사, 인수합병, 공익성 심사, 외국인투자, 엑슨-플로리어법

참고문헌(11)open

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