Taepyungyang Hosts Seminar on "The Great Transformation of Corporate Compliance Management in the Era of ACP"

Responding to the Amendment of the Attorney-at-Law Act Codifying ACP

At the seminar titled "The Great Transformation of Corporate Compliance Management in the ACP Era," lawyer Minho Noh is giving a presentation. Taepyungyang

Law firm Taepyungyang announced on the 11th that it held a seminar at its headquarters in Jongno-gu, Seoul, under the theme "The Great Transformation of Corporate Compliance Management in the Era of Attorney-Client Privilege (ACP)."

The seminar, which was attended by more than 200 corporate legal affairs and audit personnel the previous day, was organized to explore practical response strategies that companies must adopt under the changed legal environment after the amendment to the Attorney-at-Law Act, which codified ACP, was passed at the National Assembly plenary session in January. ACP refers to the right of clients not to have the content of their consultations with lawyers or legal advice provided by lawyers disclosed to investigative agencies or third parties.

Until now, in Korea, ACP had only been discussed in a limited manner through lower court rulings without clear legal grounds, but with this amendment to the Attorney-at-Law Act, it marks an important turning point as it is now codified in Korea's legal system. As a result, significant changes are expected in the scope of document submission during investigations by prosecutors, police, or regulatory bodies such as the Fair Trade Commission, as well as in the management of internal communications.

Jung Subong, Managing Partner at Taepyungyang, stated, "The codification of ACP opens a new chapter in corporate compliance management," and suggested, "Going forward, companies should further professionalize their compliance systems, including the management of communications with lawyers and internal investigation procedures."

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