Seminar on “Anti-corruption risks relating to Korean companies’ overseas business activities and strategies to combat such risks”
On June 16, 2015 Ropes & Gray joined Shin & Kim in hosting a seminar titled “Anti-corruption risks relating to Korean companies’ overseas business activities and strategies to combat such risks.” The forum was well received by the audience consisting of corporate counsel and management from various companies throughout Asia.
As Korean companies’ overseas investments and business activities become increasingly prominent, they are exposed to a heightened risk of government investigations of potential corrupt practices. To respond to the increased risks, Shin & Kim and Ropes & Gray, teamed with an expert organization with expansive consulting experience in foreign anti-corruption matters, organized a forum to discuss companies’ strategies to respond to the enforcement of anti-corruption laws, focusing on domestic and overseas cases.
Shin & Kim began the seminar with an overview of the Korean anti-corruption laws that govern Korean companies’ overseas business activities. The partners used a case-based study to break down the types of anti-corruption risks by industrial sector and corrupt act. Their presentation touched upon topics ranging from the initiation of investigations by Korean prosecutors to their standard investigation procedures, concluding with recent trends in international cooperation on anti-corruption enforcement.
During the second session of the seminar, Ropes & Gray government enforcement partner Ryan Rohlfsen (Chicago) shared an insider’s view on the global anti-corruption enforcement under the U.S. FCPA and related laws. Fellow government enforcement partner Colleen Conry (Washington D.C.) provided insight as to why Korean companies doing business in different regions of the world (including Asia, Middle East, South America and others) should be concerned with the U.S. FCPA and the growth of international cooperation regarding anti-corruption enforcement. Finally, government enforcement partner Patrick Sinclair (Hong Kong) discussed anti-corruption practices in China and elaborated upon strategies to combat such risks.