Do You Understand Legal Risk Management?

Today, many in house lawyers and managers still think of risk management as the department that manages insurance policies. Some may in fact think that risk management also encompasses handling bad publicity or maybe even covers a disaster recovery plan. Many in

Do You Know Your Stakeholders?

Besides managing risk, risk managers must also have a knack for good stakeholder management. In fact, in order to provide effective leadership in today’s corporate world, risk managers and those who have a risk management function, must understand the significance of good stakeholder

Geo-political Risks- Are You Prepared?

The US-China trade dispute as well as the Japan-Korea dispute have to a certain extent caught many companies as well as investors off guard. Considering these political and economic events, many companies should consider reviewing old risk management policies and procedures, if they

Key Issues When Considering Reputational Risk

Of all the risks facing companies in today’s business world, reputational risk is one of the most serious. Reputational risk can not only damage a company’s brand, but can even lead to the demise of the company. It is of primary importance

KPIs-Metrics To Manage Your Legal Risk

When I managed the law department of a company, having data in the form of KPIs (key performance indicators) helped me manage the department. It also showed the risks my department and therefore the company was facing. It was in a sense

Geo-Political Risk: A Look At Korea

Recently, President Trump met with Kim Jong Un of North Korea for an impromptu talk. Expectations are high for a resolution to the nuclear dilemma, especially in South Korea. What the meeting of course amplifies, is the geopolitical risk facing those companies and organizations

Korean 2019 Antitrust & Competition Law Reform Trends

Korea Fair Trade Commission Gets Serious in 2019 The Korea Fair Trade Commission (“KFTC”) has ramped up its regulatory enforcement beyond what was considered normal under past administrations.  This enforcement philosophy permeates much of the legislative amendments being sought in the

Korea’s Cryptocurrency Update – 2019

Korea’s cryptocurrency environment still remains cloudy as ever. Although the Korean government has taken steps to regulate the use and sale of cryptocurrency by proposing six bills in the National Assembly, it remains to be seen which regulations will finally be implemented.

Picking the Right Korean Law Firm

Picking a law firm in Korea has been the topic of a number of articles and books. In Chapter 30 of his book, Doing Business in Korea, Tom Coyner describes the trials and tribulations of picking the right

South Korea: Data Protection Update

South Korea has taken data protection very seriously and has implemented a general data protection law: the Personal Information Protection Act, PIPA. Amended in 2016, PIPA places strict requirements on data privacy in sectors such as IT networks, credit card information, cloud

A Director’s Duty of Care in Korea

Like directors in the US and elsewhere, directors in Korean companies have fiduciary-related duties. Such duties are set forth in the Korean Commercial Code and include: Duty of Care as a prudent manager Duty of Confidentiality Fiduciary Duty

Korea’s Cryptocurrency Issues Remain

Though Korea’s fascination with cryptocurrencies continues, it remains to be seen whether the latest proposal will put a damper on cryptocurrency exchanges.  Recently, regulators announced policies to rein in the trading of cryptocurrencies over concerns that cryptocurrencies have been ballooning

The Many Obstacles to Blockchain Adoption

With the boom in Bitcoin and other blockchain-based cryptocurrencies, industries of all sorts are seeking ways they can apply blockchain to automate transactions. As a cryptographic technology that provides for the validation of information without human input or review, blockchain has the potential to

Anticipated Reforms to South Korea’s Fair Trade Law

In an effort to follow through on his populist promises, President Moon Jae-in and his administration have pledged to achieve “economic democratization” by rolling out changes to competition regulations and by strengthening the fair trade regulatory framework. These changes are likely to have a