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Implementation of Kim Young-Ran Act: What is to be done for Corporations?

South Korea - August 18 2016 On July 28, 2016, the Constitutional Court ruled that the “Act on the Prohibition of Improper Solicitations and the Receipt or Offer of Money or...

Kwon Hoe Kim, Kwang-Wook Lee, Chul Ho Kim, Kyoung Ho Hong, Zunu Lee.


Amendment of the Act on external audit of joint stock companies

South Korea - February 4 2014 On December 19, 2013, the National Assembly passed a new amendment to the Act on External Audit of Joint Stock Companies (the "External Audit Act")...

Soongki Yi, Seung-Soon Choi.


Amendment of the Credit Guarantee Fund Act and the Technology Credit Guarantee Fund Act for the debt relief of SME joint guarantors

South Korea - May 15 2013 Under the current Debtor Rehabilitation and Bankruptcy Act ("Debtor Rehabilitation Act"), even if a debtor's debt is reduced or exempted when a...

Sang Hyun Ahn.


Issues on the breach fiduciary duty under the current law and discussions for amendments

South Korea - April 9 2013 Under the current law, the business sector has frequently identified the vague standard of interpreting the elements of breach of fiduciary duty as...

Sang Hyun Ahn.


Scope of “direct damages” of shareholders determined by the Supreme Court

South Korea - February 8 2013 Director B who de facto manages Company A, a KOSDAQ-listed company, embezzled 160 percent of the company’s share capital in the span of 21 times. To...

Sang Hyun Ahn.