Treasury stock of the 「Commercial Code」 is issued by the company and transferred in company from shareholders again. The acquisition, disposition and cancellation of these treasury shares can be important financial management strategies in the company`s operating. But abuse of treasury shares may cause problems from company management and transaction safety. Therefore countries around the world is based on the provisions of regulations and security. The former 「Commercial Code」 of revision in Korea has allowed the acquisition of treasury shares exceptionally if necessary, but prohibited in principle. However the 「Capital Market Code」 was allowed to acquire the acquisition of treasury shares in principle, if compliance of the scope of the available profit for dividends. But many scholars have been argued that there is no legitimate reason for the dualistic discrimination handling of the 「Commercial Code」 and the 「Capital Market Code」 and raised steadily the necessity of revising of obtaining regulatory provisions. As a result, 「Commercial Code」 was revised in 2011 and it has reduced unnecessary regulations for company`s operations and resolved legally the regulatory problems of discrimination according to whether listed or not. But the current 「Commercial Code」 also involves a certain part of the problem such as misuse or the risk of market disruption of treasury stock. Therefore, I would like to seek to desirable improvement about them in this paper.