Korea Deloitte to Host '2025 Boardroom Skills Enhancement Program'

Highlighting Cybersecurity, the Amended Commercial Act, and Solutions for Preventing Financial Fraud

The Korea Deloitte Group Center for Corporate Governance Development announced on August 5 that it will host the '2025 Boardroom Skills Enhancement Program', a program designed to strengthen the expertise of boards of directors and audit committees, at the Fairmont Ambassador Seoul Hotel in Yeouido, Seoul on September 11.

This program is designed for outside directors, audit committee members, and auditors of domestic listed companies, with the aim of helping them effectively respond to internal controls and risks. The program will focus on key challenges facing boards of directors and audit committees in 2025, such as cybersecurity, the amended Commercial Act, and responses to financial fraud risks. It will consist of two sessions and one panel discussion. Experts from various fields will participate to share practical insights and strategies.

In the first session, Lee Sanghoon, Senior Director of Cyber Risk & Compliance at the T&T division of Korea Deloitte Group, will analyze the increasingly sophisticated cyber threat environment driven by digital transformation and the advancement of new technologies, particularly the proliferation of generative AI. Lee will introduce recent major security incident cases to illustrate how cyberattacks are directly linked to significant management risks for companies. He will also provide insights on the key areas audit committees should review to respond effectively, as well as on internal controls, legal compliance measures, and their strategic roles.

In the next session, Lim Jungha, Professor at the Graduate School of Law at University of Seoul, will deliver a lecture on "The 2025 Amended Commercial Act and Directions for Board Response." The lecture will cover the main points of the Commercial Act, which was amended in July 2025 after lengthy discussions. Topics include the introduction of directors' duty of loyalty to shareholders, the adoption of electronic general meetings, the introduction and expansion of the ratio of independent directors, and the strengthening of the 3% rule for the appointment and dismissal of audit committee members. The session will also examine the significance of Article 382-3 of the Commercial Act (Directors' Duty of Loyalty).

The amended Commercial Act expands the duty of loyalty for directors from the "company" to include "all shareholders" and codifies the obligation to treat shareholders equitably. This is the first time in Korean law that a director's duty of loyalty to shareholders has been legislated. Professor Lim will focus on the key points of the amended provisions, the specific content of the duty of loyalty, criteria for fulfilling obligations to shareholders, and liability for damages in case of violation.

The third session will feature a panel discussion on "Solutions for Preventing Financial Fraud in an Era of Uncertainty," addressing responses to increasingly frequent financial fraud and the practical role of governance bodies. The panel will be chaired by Kim Kiyoung, incoming President of the Korean Accounting Association and Professor at Myongji University School of Business. Panelists include Jang Jeongae, Professor at Ajou University Graduate School of Law; Noh Junhwa, Professor at Chungnam National University School of Business; Jung Hyun, Head of the Internal Accounting Management System CoE at Korea Deloitte Group; and Lee Seungyoung, Leader of the AI Asset & Analytics Group at Korea Deloitte Group. The discussion will cover a wide range of theoretical and practical topics, including measures to strengthen internal controls, strategies for responding to legal and institutional environments, and solutions to prevent financial incidents.

Kim Hanseok, Head of the Korea Deloitte Group Center for Corporate Governance Development, stated, "Since boards of directors and audit committees are ultimately responsible for corporate governance, it is essential to strengthen strategic capabilities to proactively respond to advances in digital technology and changes in the regulatory environment." He added, "We hope this program will provide outside directors and audit committee members with practical insights and execution capabilities to respond proactively to change."

The program will be held as a full-day in-person session from 10:00 a.m. to 3:00 p.m., and participation is free of charge. To facilitate interactive communication and in-depth discussion, the event will be held on a small scale, with registration available on a first-come, first-served basis through the Korea Deloitte Group website.

Meanwhile, a variety of content from the Center can be accessed through the Korea Deloitte Group Center for Corporate Governance Development website, the Deloitte Insight KakaoTalk channel, the Deloitte Boardroom Academy online education platform for board and audit committee expertise enhancement, the official Korea Deloitte Group YouTube channel, or the Deloitte Insight app.

This content was produced with the assistance of AI translation services.