Directors’ Duties in South Korea

>> Protecting Yourself in South Korea

  • exercise care and independent judgement. Act reasonably, with integrity and common- sense. Challenge things when you are uncomfortable and raise concerns promptly. Seek help and work as a team with your colleagues and the company’s reputation functional specialists to get help and support where needed and find appropriate solutions
  • monitor the financial situation of the company continuously, whether or not you are the finance director. Ensure the right level and regularity of financial information is available and take time to review it and ask questions.
  • if you become concerned that the company is in, or may face, financial difficulties, take steps to minimise losses and raise the issue immediately to so that appropriate and timely advice can be provided. Do not simply keep quiet and hope for the best.

Latest version updated 10th April 2018

Country Breakdown

51.25

Million

Population

?

South Korean Won

Currency

$ 1.411

Trillion

GDP

100,210

km2