Yulchon Launches "Corporate Crisis Management Response Team" to Strengthen Internal Controls and Governance Advisory

Jungwoo Lee and Seong Moon Appointed as Joint Team Leaders

Proactive Response to Corporate Environmental Changes Including Commercial Act Amendments, “Yellow Envelope Act,” and Discussions on Presumption of Employee Status

Attorneys Lee Jungwoo and Moon Sung from Yulchon LLC. Courtesy of Yulchon.

Yulchon LLC (Managing Partner Kang Seokhoon) announced on April 21 that it has launched a “Corporate Crisis Management Response Team” to address changes in the global regulatory environment and strengthen internal controls for companies.

Yulchon analyzed that the legal and institutional landscape surrounding corporate governance and labor-management relations is rapidly being restructured, citing recent developments such as amendments to the Commercial Act, the push to introduce a mandatory tender offer system, the enforcement of the “Yellow Envelope Act,” and discussions on the presumption of employee status. As a result, demands for transparency in governance and shareholder protection are increasing, and the legal uncertainty of labor risks is also growing, with these factors now directly impacting corporate value.

In response, Yulchon has consolidated its regulatory and compliance experts into the Corporate Crisis Management Response Team and established an integrated advisory system that covers everything from the design of internal controls, governance and labor risk management, regulatory authority response, to engagement with shareholders and stakeholders. The firm also plans to provide comprehensive compliance advice on cross-border regulatory issues arising from overseas expansion by domestic companies and domestic investments by foreign companies.

The team is jointly led by Attorneys Jungwoo Lee (Judicial Research and Training Institute, 37th class) and Seong Moon (38th class). Attorney Lee has extensive experience in labor strategy development, risk management, large-scale search and seizure response, collective labor-management disputes, internal investigations, and establishing compliance systems. Attorney Moon is an expert in corporate governance, ESG, and regulatory response, and, based on his experience as an in-house counsel and as head of the National Pension Service shareholder rights team, has handled risk management and decision-making from the perspective of various stakeholders.

Attorney Lee stated, “Compliance should not be a reactive measure after an incident, but a process of strengthening a company’s fundamentals to enhance its market value. We will help our clients both manage risks and be recognized for their maximum value in the transaction market.” Attorney Moon added, “At times when the governance paradigm is shifting, the level of compliance management in place is what determines the success and terms of transactions. We will propose optimal governance strategies that not only defend against risks, but also maximize corporate value.”

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