On the 31st of the month, Law Firm YK made a significant announcement, revealing that they have enlisted the expertise of Professor Kim Hwa-jin from Seoul National University School of Law. Professor Kim, a preeminent figure in the realm of corporate governance and ESG (Environmental, Social, and Governance) initiatives within Korea, joins the firm as an esteemed advisor.
Image of Kim Hwa-jin, Advisor at Law Firm YK [Image courtesy: Law Firm YK]
Recognized as a pioneering scholar in the domain of corporate law in Korea, Professor Kim Hwa-jin boasts a wealth of experience that spans both theoretical and practical applications of corporate governance. His academic journey began with a degree in Mathematics from Seoul National University, after which he pursued higher studies abroad, earning a Master of Laws from the prestigious Harvard Law School and later obtaining a Doctorate in Law from the University of Munich, Germany. His contributions extend globally as he has imparted knowledge on corporate governance at renowned institutions like the University of Michigan, Stanford University, Tel Aviv University, and New York University. Furthermore, his scholarly work has graced the journals of Oxford and Cambridge. In the professional arena, he holds the position of Chairman of the Board at Samsung Securities and fulfills the role of Senior Outside Director at Hyundai Mobis. His literary contributions, including the notable works "Ownership and Management" (2005), "Mergers and Acquisitions" (2008), and "Corporate Governance and Corporate Finance" (2010), have been acclaimed by the National Academy of Sciences of Korea as exemplary academic resources, serving as foundational texts in governance studies.
Professor Kim has significantly contributed to the design of institutional frameworks and policy-making processes. He has chaired pivotal committees such as the Governance Improvement Advisory Committee of the National Pension Service and the Voting Rights Committee of the Korea ESG Standards Institute, while also acting as a public director for the Korea Financial Investment Association. His current focus involves tackling challenges like board operations and internal controls, formulating ESG regulation responses, and developing shareholder protection strategies at firms like Samsung Securities and Hyundai Mobis. His esteemed roles have included acting as an outside director and Chairman of the ESG Committee at HD Hyundai. Moreover, he participated as a committee member for the Hyundai Memorial Project marking the 20th anniversary of Asan Chung Ju-yung, contributing significantly with the publication of "Asan Chung Ju-yung Legacy" (2021) at Seoul National University, which garnered widespread attention.
During a seminar held on the 11th, which was jointly organized by YK and the Korea In-house Counsel Association to discuss amendments to commercial law, Professor Kim delivered an insightful presentation titled "The Future of Korean Corporate Governance and Amended Commercial Law." He emphasized the need for a measured approach by suggesting, "While the directions in ESG, shareholder protection, and commercial law reforms are appropriate, we must evaluate our capacity to manage these changes effectively."
Within his advisory capacity at YK, Professor Kim is anticipated to deliver targeted guidance on a range of issues. This includes navigating shareholder meeting disputes and damage claims arising from commercial law revisions, evaluating protections for general shareholders amidst shifts in management control, refining board functionality and internal checks, and devising corporate strategies as the ESG institutionalization process unfolds.
Law Firm YK articulated that the addition of Professor Kim at a time when commercial law changes and ESG regulations are gaining prominence is a strategic move poised to prepare corporate clients for forthcoming institutional challenges. They expressed confidence that "his extensive academic and practical experience will translate into actionable advice, greatly influencing corporate decision-making processes."