University of Michigan Law School University of Michigan Law School Scholarship Repository Law & Economics Working Papers 1-1-2013 Favoritism and Corporate Law: The Confused Corporate Opportunity Doctrine in the Hyundai Motor Case Hwa-Jin Kim University of Michigan Law School,
[email protected] Seung Hwan Lee
[email protected] Stephen M. Woodcock
[email protected] Follow this and additional works at: https://repository.law.umich.edu/law_econ_current Part of the Law Commons Working Paper Citation Kim, Hwa-Jin; Lee, Seung Hwan; and Woodcock, Stephen M., "Favoritism and Corporate Law: The Confused Corporate Opportunity Doctrine in the Hyundai Motor Case" (2013). Law & Economics Working Papers. 79. https://repository.law.umich.edu/law_econ_current/79 This Article is brought to you for free and open access by University of Michigan Law School Scholarship Repository. It has been accepted for inclusion in Law & Economics Working Papers by an authorized administrator of University of Michigan Law School Scholarship Repository. For more information, please contact
[email protected]. Kim et al.: Favoritism and Corporate Law: The Confused Corporate Opportunity Doctrine in the Hyundai Motor Case Hwa-Jin Kim, Seung Hwan Lee, and Stephen M. Woodcock* Abstract Core legal principles of U.S. corporate law are often met with perplexity in foreign jurisdictions – this is especially true when a particular principle remains controversial even in the U.S. This Article takes the corporate opportunity doctrine and examines how it has been exported to the civil law regime in Korea. Korean conglomerates such as Samsung Group and Hyundai Motor Group have become major players in the global market, but corporate law and practice in Korea have had a difficult time keeping up with the developments in the business sector.