Joint event by three legal associations covers corporate rehabilitation, holding companies and digital assets
A seminar examining key issues in financial law is set for Tuesday.
The Korean Association of Debtor Rehabilitation Law, the Korean Association of Holding Company Law and the Korean Digital Asset Law Association will jointly host the seminar, titled "Issues and Outlook for Major Financial Laws," at the Korea Federation of Banks building in Myeong-dong, Seoul.
The first session will feature attorney Kim Sang-gyu of law firm Lawbaex, a former chief judge of the Suwon Rehabilitation Court, presenting on "Recent Issues and Outlook in Corporate Rehabilitation Proceedings."
Kim said applications for rehabilitation and bankruptcy proceedings have risen sharply amid rapid changes in the economic and financial environment. "Bankruptcy filings in particular are surging, and the root cause is the fragile constitution of businesses," he said. He stressed the need for proactive restructuring on a broader scale, a shift from control-centered to market-based approaches, rational coordination of complex stakeholder interests, and efficient responses to the emergence of mega-cases.
The second session will feature Sung Jun-ho, a professor at Kwangwoon University, speaking on the rights of stakeholders in corporate rehabilitation proceedings.
Sung said the most critical element in corporate rehabilitation is the rational coordination of the various parties surrounding the debtor — including secured rehabilitation creditors, unsecured rehabilitation creditors, set-off right holders, avoidance right holders and reclamation right holders — and will explore solutions to that challenge.
The third session will be presented by Park Seung-du, who serves as president of both the Korean Association of Holding Company Law and the Korean Digital Asset Law Association, on "Issues and Outlook in the Governance of Financial Holding Companies."
Park noted that after the president criticized the financial sector's governance and CEO appointment practices as an irrational inner circle on Dec. 19, 2025, financial regulators publicly pledged to swiftly offer solutions — but the matter remains unresolved. He will analyze proposed legislation to ban financial holding company chairpersons from serving a third consecutive term, a proposed age cap of 70, and the policy direction of financial regulators.
The fourth session will feature Jin Myeong-gu, head of external policy at Mirae Asset Digital X, presenting on "Issues and Outlook in the Draft Digital Asset Framework Act."
Jin emphasized that multiple draft digital asset framework bills have been submitted to the National Assembly and that legislation is urgently needed. He will propose solutions to sensitive issues currently under debate, including restrictions on the equity stakes of virtual asset service providers and the question of who may issue stablecoins.
freiheit@heraldcorp.com
