Regional Risk Spotlight: Samuel Nam of Kim & Chang Discusses a South Korean Anti-Corruption Landscape in Flux

By all measures, South Korea is one of the world’s most advanced economies. With a GDP of more than $1 trillion and Asia’s highest median income and average wage, it is one of the wealthiest countries in the world. That economic strength, combined with a free trade agreement that came into effect in 2012 and incredible expertise in technological research and development, make South Korean companies attractive partners for foreign companies. However, in recent years South Korea has been rocked by a number of corruption scandals that have led to significant shifts in its anti-bribery and anti-corruption landscape. In this installment of the Regional Risk Spotlight, The FCPA Report spoke with Samuel Nam, a senior foreign attorney at Kim & Chang, about aspects of Korea’s culture that can create corruption risk, recent changes in South Korea’s anti-corruption laws and its broad definition of who is a foreign official. See previously “Regional Risk Spotlight: Michael Farhang of Gibson Dunn Discusses Colombia’s Troubled Corruption History and Recent Reforms” (Dec. 16, 2015).

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