Actualités

Insight Session: Navigating the Expansion of Korea’s Class Action Law 

On March 25, the Federation of Korean Industries (FKI) is co-organizing together with the French-Korean Chamber of Commerce and Industry (FKCCI) and the U.S. Chamber’s Institute for Legal Reform a seminar on the expansion of Korea’s class action law.

South Korea appears increasingly likely to become a plaintiff-friendly jurisdiction in East Asia. In recent years, class actions and related policy initiatives have been moving slowly in Korea. However, things are suddenly accelerating. The Korean government is considering legislation that would vastly expand the country’s class action law, which is currently limited to securities cases. The new law would allow for opt-out class actions in all fields of law and would apply retroactively.

The Korean government’s push to bring about class actions will likely have the same effect in South Korea as it has in the United States. So in this seminar, we will address questions such as how the legislation will affect the business environment in Korea, and what lessons the country can draw from foreign experiences.

 

Discussion Questions: 

  • How will the legislation affect the business environment in Korea?
  • What lessons can Korea draw from the U.S. experience with class action law? 
  • What safeguards should be included in the proposal to prevent abusive litigation and other ramifications? 
  • If/when the legislation is implemented, how can companies strategize to mitigate its impact? 

 

Details 

  • Date: Thursday, March 25, 9:00-10:30 AM (KST) / Wednesday March 24, 8:00-9:30 PM (EDT) 
  • Venue: Online and offline (Sapphire Room, FKI Tower, Yeoui-do, Seoul)
  • Registration:  https://seminar.fki.or.kr/seminarView.do?smnkey=79
  • Organizers: Federation of Korean Industries; U.S. Chamber’s Institute for Legal Reform; French-Korean Chamber of Commerce and Industry (FKCCI) 
  • Languages: English and Korean (with simultaneous translation) 

 

Agenda

9:00-9:15 AM

Photo Session and Opening Remarks 

  • Tae-shin Kwon, Vice Chairman & CEO, Federation of Korean Industries 
  • Harold Kim, President, Institute for Legal Reform, U.S. Chamber of Commerce 
  • Seung-won Seo, Executive Vice Chairman, Korea Federation of Small and Medium Business 
  • David-Pierre Jalicon, Chairman, French Chamber of Commerce in Korea / CEO, DPJ&Partners Architecture 
 

9:15-9:35 AM

U.S. Case Study and Implications for Korea  

  • John Beisner, Partner, Litigation; Mass Torts, Insurance and Consumer Litigation, Skadden 

 

9:35-9:50 AM

Korea’s Class Action Legislation: Current Picture and Recommendations 

 

9:50-10:30 AM     

Panel Discussion and Audience Q&A 

  • Moderated by: Jay Kim, Foreign Attorney,  Kim&Chang  Sy Nae Kim, Partner, Yulchon  
  • Scevole de Cazotte, Senior Vice President, International Initiatives, Institute for Legal Reform, U.S. Chamber of Commerce  
  • Philippe Li, Vice-President & Honorary Chairman of FKCCI / Foreign Attorney, Kim&Chang 

 

Evénements

Viva Technology 2024

Foire & Salon

Paris Expo Porte de Versailles Hall 1  •  Paris

Viva Technology 2024

FKCCI is thrilled to announce that it will be the first French Chamber of Commerce to exhibit at VivaTech 2024, Europe's largest Startup Event!

Forums

KCCI  •  Seoul

Forum Emploi 2024

Découvrez les opportunités de carrière et les avantages que procure la langue française lors du Forum Emploi FKCCI 2024 !

Partager cette page Partager sur FacebookPartager sur TwitterPartager sur Linkedin