"Let's Properly Learn US Law"... World Class Enterprise Association, CEO Academy Luncheon Lecture

The World Class Enterprise Association announced on the 6th that it held a CEO Academy luncheon lecture at EL Tower in Seocho-gu, Seoul, on the topic of "Tax and Tariff Policies of the Second Trump Administration."

A representative of the World Class Enterprise Association stated, "We prepared this CEO Academy in anticipation of increased concerns among companies entering the U.S. market due to the tariff policies of the second Trump administration," adding, "In particular, besides U.S. tariffs, we arranged lectures on tax policies such as corporate tax and the 'U.S. Trade Secret Protection Act,' which Korean companies must know."

The speakers included attorneys Munye Sil, Stuart Yoders, Sean Jacobitz, and Christopher Henpling, partners at the globally renowned law firm Jones Day.

Jones Day is a leading global law firm with over 2,500 attorneys working across 40 offices in the U.S., Europe, Asia-Pacific, the Middle East, and Latin America.

Attorney Munye Sil holds qualifications as a Korean patent attorney, U.S. patent attorney, and New York state attorney. He has provided consultation related to the Korea-U.S. FTA and has been working at Jones Day's New York office for 22 years. He currently serves as a partner in the Intellectual Property Group and head of the Korea Desk.

On this day, the attorneys lectured on how Korean companies should plan in response to the tariff and tax policies of the second Trump administration, as well as the administrative orders aimed at reversing the climate initiatives and clean energy transition provisions of the Inflation Reduction Act (IRA).

They also emphasized that companies need to understand the changes, collaborate with trusted advisors to develop preemptive strategies, and prevent damages caused by tariffs and double taxation.

Furthermore, attorneys Stuart and Mun discussed the increase in trade secret-related disputes in the U.S. and the high damage awards, explaining that Korean companies must be well aware of the U.S. Trade Secret Law and take appropriate protective measures to identify and safeguard their trade secrets.

They stressed, "It is important to recognize and mitigate the risks of trade secret theft arising from employee movement and collaboration agreements. Detailed strategies should be established, including security training for employees and incorporating clear provisions for trade secret protection in contracts."

A representative of the World Class Enterprise Association said, "As the second Trump administration begins, companies worldwide are fiercely competing to strengthen their competitiveness," adding, "We hope this CEO Academy provided an important opportunity for member companies to gain a broad understanding of the global economic situation and to establish concrete response strategies tailored to Korean companies."