On July 24, 2018, Shin & Kim co-hosted with ICAK, the International Contractors Association of Korea, a seminar titled “World Bank’s Strengthened Suspension and Debarment System and Korean Companies’ Strategic Measures in Response.”

Multilateral Development Banks, including the World Bank, are strengthening their sanction systems of suspension and debarment against companies that abuse funds provided by MDBs. In this context, the seminar offered Korean companies conducting overseas businesses with strategic measures to respond to the changing regulatory environment, by offering relevant legal information and foreign case analyses.

During Session 1, Shin & Kim’s white-collar crime and anti-trust investigations expert, Attorney Tak-Kyun Hong presented an overview of the World Bank’s suspension and debarment system, and during Session 2, Director Christopher Kim from BDO USA, a former Senior Investigator at the World Bank, other MDBs, and the FBI, presented on the risks of investigations and sanctions concerning Korean companies participating in international bidding procedures, providing actual case examples and possible strategic actions and measures.