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Recently, the movement of dematerializing promissory note is becoming common, and the National Assembly proposed Electronic Promissory Note Act of 2001 which is now being discussed in Korea.
However a hot argument about the necessity of electronic promissory note introduction is occurring between the jurisprudence community and official community.
In connection with this argument, this article seeks to describe the necessity of dematerializing promissory note, and examine legal issues with regard to legislation of Electronic Promissory Note Act.
To specify this article's goal, we first outline the foreign legislations of check truncation such as US, Germany, France and Japan. then briefly detail the necessity of dematerializing promissory note, and examine some controversial issues concerning the proposed Electronic Promissory Note Act.
Because from the perspective of the banking industry, the process of transporting and sorting promissory notes and delivering them to their customers is a wasteful expenditure of resources, it is necessary to limit its need to transport promissory notes and return them to those who wrote them.
In conclusion, legislation of Electronic Promissory Note Act must be hurried up.

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