Federation of Korean Industries, Urgent Roundtable on "Key Issues and Problems of the Three Corporate Regulation Laws"

[Asia Economy Reporter Dongwoo Lee] The Federation of Korean Industries (FKI) announced on the 10th that it will hold an emergency roundtable on the three corporate regulation laws (Commercial Act, Fair Trade Act, and Financial Group Supervision Act) on the 16th at the Garnet Room on the 2nd floor of the FKI Conference Center in Yeouido.

The roundtable will be chaired by Kwon Tae-shin, the full-time vice chairman of the FKI, with panelists including Choi Wan-jin, Honorary Professor at the Graduate School of Law, Hankuk University of Foreign Studies (20th President), Choi Jun-seon, Honorary Professor at the Graduate School of Law, Sungkyunkwan University (22nd President), and Kim Sun-jung, Distinguished Professor of Law at Dongguk University (28th President).

They emphasized that pushing legislation to improve corporate governance by strengthening minority shareholder rights through the so-called Fair Economy 3 Laws amendment by the government and ruling party is unlikely to achieve actual effects. In particular, they expressed concern that it would provide legal means for forces aiming at hostile takeovers to interfere more in corporate management.

The FKI stated, "Since this roundtable involves former presidents of Korea’s leading academic societies on corporate management and governance, it will also discuss the unconstitutionality and legal issues related to the strengthening of governance regulations."

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