Coudert Brothers is leading a consortium advising the Republic of Korea on reform of its corporate governance.
The team is led by Couderts partner Barry Metzger, who has joined the firm from the Asian Development Bank where he was general counsel.
Metzger says Korea's inadequate corporate governance practices are partly to blame for the economic crisis that hit the country two years ago.
“In the absence of rigorous credit assessment and monitoring by these corporations' lead banks, corporate insiders such as founders, managers and directors have been unchecked in their business decisions,” he says.
Couderts' team will review recent reforms, advise on further measures and provide training in Korea. The other members of the consortium are Korean law firm Shin & Kim, the International Development Law Institute and Professor Bernard Black of Stanford Law School.