The recent outbreak of the Corona Virus is a perfect example of how risk, whether biological in nature, man-made, environmental or regulatory, can rapidly change a company’s business plan or effect the current global business outlook. As the virus continues to spread, business plans are being impacted, especially the business plans of companies in the […]

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 some of its neighbors however, South Korea has also enacted other […]

Management of litigation, like management of most business processes, begins with a business plan and a budget. In this case, prior to trial, when a company seeks an appropriate law firm to represent it, it needs an acceptable litigation plan and budget. Law firms many times will try to push back on the request of […]

Like directors in the US and elsewhere, directors in Korean companies have fiduciary related duties to protect and safe-guard the Company and the Company’s assets. Such duties are set forth in the Korean Commercial Code and include: • Duty of Care as a prudent manager • Duty of Confidentiality • Fiduciary Duty-the Duty of Loyalty […]

Picking a law firm or the “right” law firm has been the topic of a number of articles and books. This is especially true in Korea. In Chapter 30 of his book, Doing Business in Korea, Tom Coyner describes the trials and tribulations of picking the right law firm in Korea. He opines that some […]

I am always asked by my younger colleagues how General Counsel or GCs pick law firms when deciding which law firms to use. Most GCs actually pick lawyers, not just law firms, when retaining outside counsel, but it is important that the law firm is also a firm the GC likes and respects. If the […]