In that directors are elected by shareholders, are members of the board of directors, and exercise their authority as trustees of the company under a delegation agreement, they can be said to be similar to members of the National Assembly who are elected by the people, are members of the National Assembly, and exercise their authority as a state agency under a representative system. The status and obligations of directors toward the company and shareholders cannot be uniformly compared with those of members of the National Assembly toward the country and the people, but there are areas that should be treated the same or similarly, and even a rough comparison centered on status and obligations can be seen as suggestive in many areas.
In terms of their status, directors are merely trustees for the company’s assets invested by shareholders, and they cannot be said to be directly in the position of trustees in their relationship with shareholders. This is basically the same in their relationship with members of the National Assembly and the people.
In terms of their obligations, directors only bear a duty of loyalty to the company as trustees for the company’s assets invested by shareholders, who are members of the company, and in the process of judging the interests of the company, they consider the interests of shareholders as a whole. Likewise, it may be possible to recognize the status of a trustee for national assets that have become national assets through the taxes paid by citizens who are members of the country, but the National Assembly also directly bears obligations only to the country, and when making decisions that prioritize national interests, the interests of the people as a whole must also be considered. Meanwhile, it is necessary to discuss whether certain restrictions should be recognized for the immunity privilege of the National Assembly members.
This study compared the status and duties of directors and members of the National Assembly to examine the implications, and also examined the imposition of directors’ duty of loyalty to shareholders, the interpretation and application of special interests, and the limitations on members of the National Assembly’s immunity.