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[an error occurred while processing this directive] Session 4 (February 14, 2005)

Part I:  Corruption, Bribery and Accountability

Korea has enjoyed economic success, yet it is sometimes perceived to be a place that doesn't quite play by the rules.  That may be a fascinating anomaly; sustained economic development without the rule of law.  Our focus
is on corruption and the consequent lack of independence of prosecutors, regulators, corporate directors and auditors.  Three new anti corruption laws were enacted in the summer of 2001, following a series of corporate
governance legal reform efforts that began in 1998, and a series of corruption scandals in 2000 and 2001.  Corruption is long standing and persistent, and Korean law has long outlawed bribery.  Can more law alone
change behavior?

Why does Korea have a corruption problem?  The usual answers are that the government was authoritarian, with close control of the economy, that the ministries operated according to vague or unwritten rules with no judicial
review, that there are close family, regional and school ties  - not an "open society" - and because of the common practice of giving cash gifts at weddings, funerals, graduations and the like .  But there must be at least one more reason. 
If the rule of law is a matter of incentives, the costs and benefits may have to be reordered by the law. Does the Korean legal scheme do that?  We will be discussing numerous cases and in particular the recent case involving bribes to North Korea.

Mandatory Readings 

Optional Readings


Part II: Legal education and opening the market for legal services

With increase in global business - international business - what is the logic behind keeping legal market limited? Think about sovereignty (preserving culture, traditions etc.) v. efficiency issues.

Focus on this issue in the same context of looking at corruption and bribery in Korea.

Mandatory Readings

Optional Readings



Bribery in the Global Market: A Critical Analysis of the Foreign Corrupt Practices Act

Recent news on bribery scandal involving government 1, 2, 3







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