Blog | Bryan E. Hopkins

Aug16

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

August 16, 2018

May02

Peace at What Cost? The Risks of Appeasing North Korea

There are many kinds of risks facing companies on a daily basis. Geo-political risk is definitely one of them and it is a major risk that companies and countries alike must navigate. The geo-political risks in greater Asia have long been

May 2, 2018

Apr19

KFTC Issues Report Proposing Changes to Korea’s Competition Law Enforcement System

After more than six months of review, the KFTC Task Force issued its final recommendations for improving Korea’s competitive legal enforcement system. Recommendations covered three main areas: (i) Administrative Enforcement, (ii) Civil Enforcement, and (iii) Criminal Enforcement. Administrative Enforcement The Task Force announced in its interim

April 19, 2018

Mar15

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

March 15, 2018

Jan10

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

January 10, 2018

Nov29

Be a Risk Management Leader: Ask the Right Questions

Anyone in an organization can take the lead on risk management, simply by posing the right questions to department heads and top executives before crisis arrives. You don’t have to be the CEO to make sure that your company is ready for one of

November 29, 2017

Oct23

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

October 23, 2017

Sep27

Avoid the Fate of Equifax: Protect Your Customer’s Data

Equifax, Credit Agencies and Risk (mis-) Management Recently, one of the largest credit reporting agencies in the US, Equifax, joined the long list of companies that have been the victim of a major data breach. Equifax is now trying to explain how over 143 million

September 27, 2017

Sep12

Are You a CEO in Korea Worried About the North? Get D & O Insurance!

What is D & O Insurance? Liability protection for your directors and chief executive. Korea is unique in the world with regards to the extent to which directors on a company board and chief executive officers can be held personally liable for a wide range of

September 12, 2017

Jul21

To minimize the impact of an international crisis- implement a communications strategy!

Recently, Korean media reported that the Prosecutor’s Office in Korea is investigating a claim that McDonald’s Korea may have violated food safety rules based on the allegation by a family that their daughter contracted hemolytic-uremic syndrome (“hamburger disease”) after consuming a hamburger at a McDonald’s outlet in Pyeongtaek,

July 21, 2017

Jul13

Managing a Cross Border Crisis – Are You Ready?

Korean media has recently reported that the Prosecutor’s Office in Korea is investigating a claim that McDonald’s Korea may have violated food safety rules based on the allegation by a family that their daughter contracted hemolytic-uremic syndrome ( “hamburger disease”) after consuming a hamburger at

July 13, 2017

Jun21

South Korea’s New Fair Trade and Competition Regulatory Framework

President Moon Jae-in and his administration (the “Moon Administration”) have pledged to roll out changes to competition regulations as well as reinforce the fair trade regulatory framework in order to achieve his goal of “economic democratization”. Changes include: (i) strengthened enforcement measures that will include

June 21, 2017

When Protecting Trade Secrets in Korea- Be Proactive!

In Korea, it is vital that you take proactive steps to protect your trade secrets, especially when dealing wiht employees or former employees. A properly drafted confidentiality agreement which contains a restrictive covenant can be an effective tool for preventing trade secret disclosure. But

June 8, 2017

Considering Data Privacy and Cyber-Security Issues in Conjunction With IoT – Concerns for the Risk Management Industry

The recent global cyber-attack emphasizes the growing risk of cyber-attacks around the world and the issues facing the risk and legal community. Not only do cyber-attacks threaten businesses and organizations on a daily basis but the addition of ransomware to the mix underlies the

May 19, 2017

Korea Amends Its Product Liability Statute

Korea Amends Its Product Liability Laws Korea recently amended its product liability law. The amendment is effective as of April 19, 2018. A short summary follows: 1. Punitive Damages The current product liability law limits the claim for the damages to actual damages incurred

May 12, 2017

Data Privacy Laws in Korea- An Update

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 amended PIPA in 2016 by adding additional regulations and requirements.

April 28, 2017

For Asian Companies The New EU Privacy Laws Can Be A Headache

As a risk management lawyer, among other things, I am often involved in privacy related issues. Not only am I involved with Korean privacy laws, but privacy laws in general especially those that impact the Asia Pacific Region. →

April 24, 2017

Looking at Risk in Korea- The Outlook for 2017 and Beyond

Organizations always hope for sunny skies and calm seas when conducting business. No one wants to be unpleasantly surprised nor exposed to rough weather, especially if such weather causes a person or an organizations’ reputation, financial well being or its very existence to be threatened.

April 20, 2017

Software Protection Under Korean Law

Scope of Protection Software is protected in Korea as a copyrightable work in general under the Copyright Act (the Act) of Korea- having general provisions in Articles 101-2 through 101-7. This covers the protection of computer programs. →

April 12, 2017

When Handling Global Risks Consider Credit Risk Insurance

When considering global risks, companies doing business internationally must take a hard look at credit risks. Customers in other countries may not have a credit rating to justify selling product on credit or it may be hard to find a company’s credit history to

April 3, 2017

Mitigate Global Risk With Insurance

Entrance Gate of Sejong University, Seoul, Korea It is very apparent that companies and organizations operating internationally face unprecedented global risks. Global risks are not only interconnected but have systemic impacts requiring systems that can help companies measure, foresee and understand them in an uncertain

March 22, 2017

Using Insurance to Mitigate Global Risk

It is very apparent that companies and organizations operating internationally face unprecedented global risks. Global risks are not only interconnected but have systemic impacts requiring systems that can help companies measure, foresee and understand them in an uncertain and dangerous world.

March 17, 2017

Mitigating the Risks Of Using Channel Partners In An International Setting

Relying upon third party channel partners is a risk no matter what market you are in. This is especially true when dealing internationally, such as in Asia- the manufacturing hub of the world. →

March 6, 2017

Managing Risk in Korea- The Year of Unanticipated Risks and Unintended Consequences

Entrance Gate of Sejong University, Seoul, Korea As the winds of 2016 winds down, companies in Korea need to take a step back and reflect on the major events that have shaped 2016 and will shape the years to come. The major events such as

February 27, 2017

Managing the Risk of Whistleblowers in Korea

The KFTC recently released its figures on its compensation to whistleblowers. Unlike leniency, which is used by most of the world’s antitrust regulators to encourage the reporting of cartels, awarding compensation to whistleblowers for reporting antitrust violations is not common.

February 24, 2017

Managing The Risk Of Trade Secret Misappropriation In Korea

We live in a competitive world. The extent to which a company is able to protect its trade secrets is an important factor in its overall ability to survive and prosper. In the employment context, complicated legal issues arise when a departing employee is

February 17, 2017

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