Korea has a number of government-owned enterprises ("GOE") for diverse reasons – market failure, targeting specific industries, employment and price control policy tools, foster of local autonomy, etc. In order to strike the right balance between economic efficiency and public service, Law on...

This article is to upgrade the level of compliance in Korean financial services market. The current situation is a vicious circle of continuous scandals, politicized criminal investigations, uncontrolled sentencing by courts and discretionary pardons. Various laws offer all of everything. Public...

Korean Commercial Code would be changed to the effect that a merging company can cash out minority shares. Furthermore, 95% shareholders can freeze out the minority shareholders in cash at fair price. These upcoming changes would increase the importance of the standards for fair price of shares,...

Immediately after the Asian financial crisis in 1997, Korea signed MOUs with the IMF. In the context of the MOUs, World Bank asked Korean government to spend part of the financial resources available for the financial and corporate restructuring assistance project. On May 15, 2000, the final...

Korea regulates financial products advertising by delegating the authority to self-regulatory trade groups, which have no effective enforcement mechanism. As the consumer protectionism is moving towards to financial products, which is rather overdue considering the complexity of financial...

This paper reviews the current regulations on capital adequacy of financial groups as well as those for each separate financial sectors such as banking, brokerage and insurance in light of the ongoing FISI regulations in US and special rules on financial groups in EU

By analogy, the regulatory scheme on SIFI might be desirable for conglomerates which would cause systematic risk to the national economy. This paper reviews the logic behind the extended regulatory scheme on SIFI and discusses the possibility of similar scheme for huge conglomerates in Korea

US D.C. Court revoked the FCC Camcast order on Apr. 6, 2010. The FCC, on the other hand, proposed draft rules for open internet on Oct. 22, 2009. The draft rules have been heatedly discussed among business leaders, regulators, consumers and 1st Amendment advocates. It remains to be seen how the...

Mergers and acquisitions are subject to competition law review based on the concept of “relevant market.” The relevant market is where a hypothetical monopolist can exercise despite SSNIP. To find the relevant market, critical loss analysis or its variations has been adopted by regulatory...

Citizens United v. FEC made almost every US lawyer, politician and scholar worried or triumphal. Corporations would reign over campaign scenes with corruptions, citizens would lose interest in the democratic process, and shareholders would have no control over management decisions on independent...