On the 31st, Law Firm YK made a strategic announcement regarding the addition of Professor Kim Hwa-jin from Seoul National University School of Law to their team as an advisor. Professor Kim is recognized as a leading figure in the domains of corporate governance and Environmental, Social, and Governance (ESG) in South Korea. This signifies a strengthening of YK's capabilities in navigating complex regulatory landscapes and adapting to legal amendments.
Image of Kim Hwa-jin, Advisor at Law Firm YK [Photo credits: Law Firm YK]
Professor Kim, a pioneering scholar in South Korea's corporate law arena, brings a wealth of experience combining theoretical insights and practical consultancy. His academic journey began with a mathematics degree from Seoul National University, followed by a Master's in Law from Harvard Law School and a Doctorate from the University of Munich. His international influence is notable as he has taught corporate governance at prestigious institutions including the University of Michigan, Stanford University, Tel Aviv University, and New York University. He has contributed to leading journals published by Oxford and Cambridge. In addition to his academic roles, he serves as the Chairman of the Board at Samsung Securities and holds a Senior Outside Director position at Hyundai Mobis. His significant publications, such as "Ownership and Management" (2005), "Mergers and Acquisitions" (2008), and "Corporate Governance and Corporate Finance" (2010), have been recognized as exemplary works by the National Academy of Sciences of Korea, underscoring his influence in governance studies.
Professor Kim has played a critical role in shaping institutional frameworks and policies as demonstrated by his leadership of the Governance Improvement Advisory Committee at the National Pension Service and the Voting Rights Committee at the Korea ESG Standards Institute. He also served as a public director at the Korea Financial Investment Association. Currently, he tackles issues including board operations and internal control systems, responses to ESG regulations, and the establishment of protections for shareholders, particularly in his roles at Samsung Securities and Hyundai Mobis. His previous positions include serving as an outside director and Chairman of the ESG Committee at HD Hyundai. He was part of the Hyundai Memorial Project Committee, commemorating the 20th anniversary of Asan Chung Ju-yung, which culminated in the publication of "Asan Chung Ju-yung Legacy" (2021), a notable work released through Seoul National University.
During a seminar on the 11th, jointly organized by YK and the Korea In-house Counsel Association, Professor Kim addressed "The Future of Korean Corporate Governance and Amended Commercial Law." He highlighted that while ESG initiatives, shareholder protection, and commercial law amendments are progressive, it's crucial to evaluate if current capacities are sufficient to manage these changes.
At YK, Professor Kim is anticipated to deliver expert advice on a range of issues stemming from commercial law amendments. These include tackling disputes at shareholder meetings, navigating damages lawsuits, assessing shareholder protections during management rights transactions, refining board operations and internal controls, and crafting corporate strategies amidst the institutionalization of ESG practices.
YK commented on the significance of Professor Kim's involvement, particularly in light of the emerging prominence of commercial law amendments and ESG regulations. They emphasized that his participation is crucial for preparing corporate clients to meet institutional challenges. Drawing from his robust academic and practical experiences, YK expects Professor Kim to offer valuable insights that will inform and guide corporate decision-making processes.