Developing Effective Corporate Governance in 21st Century Korea

Project Member(s): Clarke, T.

Funding or Partner Organisation: The Department of Foreign Affairs and Trade (DFAT - Australia-Korea Foundation)

Start year: 2015

Summary: This project is premised upon the belief that effective corporate governance in Korea, as in Australia, depends on how well-governed and well-managed companies are run and how they best contribute to the long term economic and social welfare of their respective nations. Since the introduction of corporate governance in Korea, increasing pressure has been placed on Korea's private sector to become more transparent and accountable. The introduction of independent directors on corporate boards and a rise in shareholder activism by both local and foreign institutional investors has created challenges and opportunities for stakeholders of Korean companies. This project seeks to bring decision makers, academics, and industry representatives together to examine and discuss effective corporate governance in Korea, and compare and contrast the Korean experience with that of those involved in corporate governance reform in Australia. This project seeks to contribute to the objectives of the AKF by developing partnerships and understanding in Korea of shared interests with Australia, increasing public awareness of Australia in Korea, and of Korea in Australia, and increasing the capacity of Australian business to effectively engage in Korea.

Keywords: Korean, Corporate Governance

FOR Codes: Corporate Governance and Stakeholder Engagement, Expanding Knowledge in Commerce, Management, Tourism and Services, Strategy, management and organisational behaviour, Expanding knowledge in commerce, management, tourism and services