In a global economy, many companies doing business in different countries encounter a variety of country specific corporate governance and regulatory compliance requirements, and proper corporate governance and regulatory compliance often turns out to be critical to maintaining the integrity of business operations as an apparently minor oversight can bring upon undesired levels of potential liabilities. Accordingly, corporate governance and regulatory compliance, or the lack thereof, has frequently risen in the list of priorities for many companies doing business in different countries in efforts to avoid any violations that may tarnish and diminish the trust in their companies.

In the area of corporate governance and regulatory compliance, the Corporate Governance Practice Group at Lee & Ko is a thought leader, and has for many years provided practical and tailored advice to both multinational and domestic companies in Korea on corporate governance initiatives, including directors’ fiduciary duties, disputes related to management control, and anti-corruption and general regulatory compliance matters. The members of the Group has extensive experience in advising corporations, their officers and directors about the ever increasing importance of corporate governance and regulatory compliance. To provide the best and most up-to-date, accurate advise possible, the Group works closely with members of other practice groups such as tax, securities, civil and criminal litigation, and compliance. The Group is backed by experience and expertise acquired through more than thirty years as a leading Korean law firm, and by a record of success and client-oriented service that sets Lee & Ko apart from other law practices.

In Korea, there is a strong trend toward requiring stricter corporate governance rules with regard to fiduciary duties and overall transparency in management. This is being done through court decisions and an incremental restructuring of the corporate governance regulatory framework. The Group strives to keep up with all of the latest developments, amendments and changes affecting corporate practice, as they occur, so that we can provide our clients with the benefit of the most up-to-date advice available. Further, our widely acclaimed and highly respected Litigation Practice Group works closely with the Group on corporate governance related disputes, such as civil and criminal litigation for breach of fiduciary duties and validity of shareholders’ or board of directors’ resolutions, to provide our clients with comprehensive legal advice and service that covers all aspects of any set of complex issues that may arise.

Expertise

Advising foreign shareholders on corporate governance issues in relation to their ubsidiaries on a regular basis
Advising on compliance management systems and their implementation
Defending companies and directors against minority shareholder suits and, in particular, shareholder derivative suits
Advising on conducting meetings of boards of directors and shareholders in connection with hostile take over attempts
Advising on fiduciary duties of board of directors Advising on corporate management formalities and compliance with regulatory filing and reporting requirements

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Major Cases

Represented the largest conglomerate in Korea in a shareholder’s derivative suit against the chairman and other current and former executives of the conglomerate (involving a claim amount of US$330 million).
Represented the largest pharmaceuticals company in Korea, and its chairman, in a management dispute between the two largest shareholders.
Represented K group in a dispute over control of the second largest conglomerate in Korea.

Key Contacts

Mergers & Acquisitions Corporate Corporate Governance Foreign Investment Outbound Investment Hostile Takeovers & Defense Product Liability

Kyu Wha LEE

Partner

T +82-2-772-4321

E kyuwha.lee@leeko.com

Mergers & Acquisitions Healthcare Corporate Governance Foreign Investment

Hyeong Gun LEE

Managing Partner

T +82-2-772-4379

E hyeonggun.lee@leeko.com

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