Blog

Reputational and Brand Risks- Are You Prepared?

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

Korea Amends its Personal Information Protection Act (PIPA)

Like some of its neighbors in Asia, South Korea has taken data protection very seriously and has implemented a general data protection law- the Personal Information Protection Act or “PIPA”. It first amended the PIPA in 2016 by adding additional regulations and requirements. Unlike

How Law Firms Can Benefit From Loss Control Processes

Law firms and other service oriented organizations are just beginning to realize that risk management concepts apply to them as well as manufacturing based organizations. Lately, consultants are advising law firms to implement project control methods, look at legal processes from a six

Crisis Management- It’s All About Communication

In the past I have commented on crisis management and the tools needed to handle such crisis in today’s business environment. Of course what companies are finding out is that international crisis are harder to handle than domestic ones. Why? In today’s

Korea’s Cartel Leniency Regime

Leniency programs have been used quite successfully around the world to battle cartels. The same holds true in Korea. Since its introduction in 1997, Korea’s leniency program has become the most important and effective means of cartel discovery. Korea’s leniency program

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