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Fundamental Questions and Developments in Company Law: German and Korean Perspectives

A very special event of the Bucerius Institute for Corporate and Capital Markets Law (ICCML) took place on the 12th of September. The ICCML and the Center for Financial Law of the Seoul National University (SNU) extended their close cooperation by inviting well known Korean professors to Hamburg to discuss fundamental questions and developments in company law from a German and Korean perspective. After short opening remarks of Prof. Kämmerer, the first unit of the congress was started by Prof. Kim addressing “Dynamics of Shareholder Power in Korea.” The following presentation was given by Prof. Seibt dealing with the Siemens/Neubürger-Judgement which is a frequently discussed issue in German corporate law. The second unit was started by Prof. Song concerning “Dual Class Shares” which are legally permitted in Korea but forbidden in the German law. Subsequently Prof. Rho presented the “Dematerialization of Shares: Transition to New System in Korea”.  After a short coffee break Prof. Veil initiated the last unit with an empirical study considering the disclosure of major shareholdings on which he was working with known business professors. Last but not least, Prof. Chun talked about the “Expected and Unexpected Roles of Independent Directors from a Korean Perspective”. The discussion after each presentation offered the possibility to earn interesting insights on a comparative legal basis. Despite the huge differences between the Korean and German jurisdictions one could notice that the different legal systems have to deal essentially with the same questions and problems. 



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