Professor Sang Yop Kang was Invited to Share His ESG Expertise at the Commemorative Symposium for the 31st Anniversary of Diplomatic Relations between China and Korea

Professor Sang Yop Kang of Peking University’s School of Transnational Law was invited as a panelist to share his expertise in ESG at a symposium commemorating the 31st anniversary of diplomatic relations between China and Korea on November 10, 2023. This event, hosted by the Korea-China Law Association, took place at the Korea Commercial Arbitration Board in Seoul, Korea. In addition to Professor Kang, participants at the conference included a Korean National Assembly member, Supreme Court Justice, Korea’s climate ambassador, policymakers, scholars and practitioners. The Chinese ambassador to Korea also celebrated the commemorative symposium for the diplomatic relations between China and Korea.

Professor Kang’s presentation at the conference, themed “ESG and Law,” focused primarily on the governance aspect (“G” of ESG) of China’s ESG practices. He explored the nuances of shareholder primacy and stakeholder capitalism in the context of advancing governance within Chinese ESG frameworks. Professor Kang also discussed the differences corporate governance issues between state-owned and privately-owned companies in China. In addition, he noted the potential opposition from shareholders to the incorporation of ESG agendas into company management policies. Professor Kang further analyzed the implications of ESG on controlling shareholders, examining the potential for a “disguised agency problem” generated by controlling shareholders.

Furthermore, Professor Kang examined whether it is desirable or even possible for the board of directors, as the representative of shareholders, to embody the spirit of ESG while representing the interests of “stakeholders” of corporations. He also reviewed whether stakeholders could be part of the board for the ESG purpose. Meanwhile, Professor Kang explained that active discussion on the G aspect in China requires an analysis of overall aspects of company law, including the independent director system and shareholder derivative suit system and other litigation method such as class actions.

Professor Sang Yop Kang holds a full professorship with tenure in Law at Peking University, School of Transnational Law. His areas of teaching and research include corporate governance, corporate law (theory and with perspectives from the U.S., Korea, and China), securities regulations, M&As, and law and economics. He also focuses on ESG, capital markets, financial market regulations, banking policies, and more. His expertise extends to startups and venture capitals, competition law (anti-trust), the 4th industrial revolution, corporate groups, institutional investors, hedge funds, private equity funds, shareholder activism, stewardship, law and finance, executive compensation, Chinese economic policies, Chinese corporate governance, East Asian economies and legal systems, and political economy.

Professor Kang publishes numerous articles in academic journals such as the Stanford Journal of Law, Business & Finance, the University of Pennsylvania Journal of Business Law, the Berkeley Business Law Journal, the Virginia Law & Business Review, the Northwestern Journal of International Law and Business, Tsinghua China Law Review, etc. Also, with world-leading scholars, Professor Kang is a coauthor of “Law and Finance of Related Party Transactions” (Cambridge University Press), “Comparative Corporate Governance” (Edward Elgar), and “Global Shareholder Stewardship” (Cambridge University Press). Moreover, he coauthored “Regulation on Corporate Groups,” an academically significant book published in Korea. He has been serving as a policy advisor for the Korean government and National Assembly (Congress) on regulatory policies such as policies about large corporate groups and the separation of banking and commerce.

Professor Kang holds J.S.D. (Doctor of the Science of Law) degree at Columbia University School of Law. He is a Research Member of the ECGI (European Corporate Governance Institute), the most prestigious global academic association for the corporate governance scholarship (law, economics, and finance). Professor Kang is a lawyer. Also, he is a CFA (Chartered Financial Analyst) and a FRM (Financial Risk Manager) charter-holder. In addition, he is an arbitrator at the SCIA (Shenzhen Court of International Arbitration). Before he studied law, he studied economics and finance and used to be a fund manager in the capital market. He also composes piano pieces.