KLC Hosts 2nd Trans-Pacific Business Law Dialogue
On August 12, 2019, the Korea Law Center at UC Irvine hosted the 2nd Trans-Pacific Business Law Dialogue. The 1st Trans-Pacific Business Law Dialogue was hosted by the Center for Financial Law, Seoul National University’s School of Law (“SNU Law”). The Dialogue aims to bring together business law scholars from the U.S. and Korea to promote academic exchange and inspire new ideas across the Pacific.
The conference opened with welcome remarks by Professor Sunseop Jung from SNU Law. Professor Jung proudly noted that this year’s topics and participants have become more diverse, and also encouraged the active exchange of ideas among participants to build a strong business law research community between Korea and the United States.
Participants presented unique business law topics followed by a vibrant discussion. Professor Stephen Choi from NYU Law presented his research on attorneys’ fees awarded in the largest securities class actions. Then, Professor Kyung-Hoon Chun from SNU Law presented the measures widely used by Korean conglomerates (‘chaebols’) for management succession. Professor Albert Choi from Michigan Law analyzed the duty to negotiate in good faith in preliminary agreements. Professor Young Ran (Christine) Kim from Utah Law examined the policy debate on the digital services tax.
After the lunch break, Professor Geeyoung Min from MSU Law explored why corporate boards establish compliance committees. Professor Thomas Joo from UC Davis Law presented his co-authored paper arguing that the “two-sided” market could protect works in the platform economy. Professor Yoon-Ho Alex Lee from Northwestern Law (Pritzker) presented a model of stock market-based rulemaking. Professor James Park from UCLA Law assessed whether securities laws mandating quarterly reporting promote short-termism. Professor Sung Eun (Summer) Kim from UCI Law introduced the consumer primacy alternative, challenging the doctrine of shareholder value.
Finally, Professor Ok Rial Song from SNU Law concluded the day by showing gratitude to the participants for taking part in the 2nd Trans-Pacific Business Law Dialogue. Professor Song applauded the quality of presentations and stimulating discussions and presented a vision and preview of the next dialogue, which will reconvene in Seoul, Korea.
-Prepared by Yujin Choi