On the 31st, Law Firm YK revealed that it has brought on board Professor Kim Hwa-jin from Seoul National University School of Law. Professor Kim is a renowned expert in corporate governance and ESG disciplines within Korea and will serve as an advisor for the firm. This move indicates YK’s strategic intent to enhance its capabilities in these growing areas.
Kim Hwa-jin as Advisor at Law Firm YK [Photo Courtesy of Law Firm YK]
Professor Kim is often described as a 'pioneer scholar' in Korea’s corporate law scene, blending his theoretical insights with practical consulting expertise in the corporate world. He holds a mathematics degree from Seoul National University, along with a Master of Laws from Harvard Law School and a Doctorate in Law from the University of Munich, Germany. His academic influence is widespread, having instructed courses on corporate governance at prestigious universities like the University of Michigan, Stanford University, Tel Aviv University, and New York University. His scholarly contributions have been featured in respected journals from Oxford and Cambridge. Presently, he functions as the Chairman of the Board at Samsung Securities and a Senior Outside Director at Hyundai Mobis. His influential publications, including "Ownership and Management" (2005), "Mergers and Acquisitions" (2008), and "Corporate Governance and Corporate Finance" (2010), have been recognized as top academic texts by the National Academy of Sciences of Korea, underscoring their importance in governance education.
In his career, Professor Kim has played a pivotal role in developing policies and institutional frameworks. He has led as Chairman of the Governance Improvement Advisory Committee for the National Pension Service and Chairman of the Voting Rights Committee at the Korea ESG Standards Institute, besides serving as a public director for the Korea Financial Investment Association. His current focus areas include optimizing board operations, enhancing internal controls, tackling ESG regulatory challenges, and instituting shareholder protection strategies at Samsung Securities and Hyundai Mobis. Additionally, he has been an outside director and Chairman of the ESG Committee at HD Hyundai and participated in the Hyundai Memorial Project Committee marking the 20th anniversary of Asan Chung Ju-yung, resulting in the notable publication "Asan Chung Ju-yung Legacy" (2021) at Seoul National University.
During a seminar on the 11th, which was co-sponsored by YK and the Korea In-house Counsel Association, Professor Kim delivered a presentation on "The Future of Korean Corporate Governance and Amended Commercial Law." He pointed out that while the direction towards ESG, shareholder protection, and commercial law amendments is positive, a critical examination of the nation’s capacity to manage these changes is necessary.
At YK, Professor Kim is anticipated to offer targeted guidance on several fronts, including addressing disputes in shareholder meetings and managing damages lawsuits that arise from amendments in commercial law. Furthermore, he will contribute to enhancing safeguards for general shareholders during managerial transitions, refining board and internal controls, and formulating corporate strategies amidst the evolving landscape of ESG frameworks.
Law Firm YK articulated, "Professor Kim’s involvement comes at a crucial juncture when commercial law amendments and ESG regulations are gaining prominence. His academic prowess and real-world experience are expected to be invaluable as firms navigate institutional challenges," underlining the belief that his insights will significantly influence corporate decision-making processes.