Director Liability Insurance in Korea: Follow the Oxy Reckitt Beckiser

A great lawyer is hard to find – a lawyer is too hard to lose.

The best lawyers, in Korea, often don’t work for the ubiquitous/”leading” law firms, because of Korean realities. This is known by many Koreans and it is why Koreans shop around for the best lawyer for the specific case.

Too often, we see foreign defendants in criminal cases that choose to maintain the same “corporate” firm for criminal matters. This is not always the best move and we can see in many of the most noteworthy cases that this is not, always, the rule. Realize that you are hiring a lawyer – not a law firm.

Also, realize that a proactive, non-conflicted, aggressive and respected lawyer is essential for all criminal defense matters. These lawyers are hard to find in Korea, especially when we consider that these lawyers, typically, need to be very senior retired judges to be effective.

When you find attorneys in Korea with these capabilities, they are worth their weight in gold – and often, also, charge their weight in gold.

Thus, Director Liability Insurance coverage is essential. We recommend to all clients to obtain a policy of, at least, USD 400,000.

The policies, often, cover legal fees, lost work and incidental damages caused by criminal and civil actions taken against the director.