The OECD Bribery Convention is an important milestone in the global efforts to combat bribery and corruption. The convention, which has entered into effect on February 15, 1999, effectively criminalizes the bribery of a foreign public official. However, it is limited in that it deals with the bribery of a foreign public official by developing measures against bribe-giving activity only. The convention does not deal with the problem of the bribe receiving foreign public officials. In addition, the convention does not deal with the bribery and corruption that do not involve transnational business.
Although the OECD Bribery Convention only tackles with the supply side of bribery in transnational business, it sets an important standard for combating bribery in both domestic as well as transnational business. Specifically, the OECD Bribery Convention establishes the criminal liability of a legal person. In addition, it imposes sanctions against the proceeds obtained from bribery.

For some countries, these instruments against bribery are not established for domestic bribery offense. In the case of Korea, the implementing legislation of the OECD Bribery Convention establishes the criminal liability of a legal person. Also, it establishes monetary sanctions against the proceeds obtained from the bribery. In contrast, the Korean Criminal Codes punishing the offense of the bribery of a domestic public official do not establish similar measures against domestic bribery.

This paper compares the legal purposes behind the OECD Bribery Convention and those behind the Korean Criminal Codes on bribery offenses. The legal purpose behind the OECD Bribery Convention is primarily the protection of fair competitive condition in the international business transactions, while the legal purpose behind the Korean Criminal Codes is the protection of 'incorruptibility' of a public official's duty. This paper argues that the Korean Criminal Codes should also be reinterpreted to protect the fair competitive conditions in the domestic market. It is recommended that the Korean Criminal Codes on domestic bribery should be amended to incorporate the new instruments introduced in the OECD Convention.

In today's rapidly globalizing world, bribery and corruption has no national boundaries. In a global effort to combat corruption, all the trading nations in the world should adopt the OECD Bribery Convention so that the existing criminal measures to fight domestic corruption would be strengthened in line with the measures introduced to fight transnational bribery in the OECD Bribery Convention.

Executive Summary

Ⅰ. Introduction

Ⅱ. Multilateral Efforts to Combat Corruption
A.Overview of the Consequences of Corruption
B.Corruption as Trade and Investment Barrier
C.Multilateral Efforts to Fight Transnational Corruption

Ⅲ. OECD Bribery Convention
A.Overview of the Convention
B.Purpose of the Convention
C.Elements of Bribery
D.Corporate Liability and Sanctions
E.Jurisdiction
F.Entry into Force

Ⅳ. Korean Implementation of the OECD Bribery Convention
A.Enactment of the Foreign Bribery Prevention Act
B.Definition of Bribery
C.Definition of a Foreign Public Official
D.Permissible Payments
E.Sanctions
F.Responsibility of Legal Persons
G.Jurisdictions

Ⅴ. Comparison of the FBPA and the Korean Criminal Codes on Bribery
A.Legal Purposes
B.Liability of Legal Persons
C.Sanctions Against Proceeds of Bribery

Ⅵ. Implication for Combating Corruption in Korea

Ⅶ. Conclusion

Korean Abstract