Korean Restructuring and Insolvency Practitioners Association (KORIPA) - Korea

Korean Restructuring and Insolvency Practitioners Association (KORIPA) - Korea
Korean Restructuring and Insolvency Practitioners Association (KORIPA) - Korea

Chairman: Park, Chan Bok, Ph.D chanbok52@nate.com Vice-chairman: Yoon, Soo Han shyoun_douint@hotmail.com Vice-chairman: Lee, Jung Sun agiabba1@naver.com International Liaison Officer: Ms.Tae Yeon Kim ksing2@hanmail.net KORIPA is the association of members of lawyers, certified public accountants, tax accountants, bankers and other restructuring and turnaround professionals involved in restructuring, insolvency and turnaround. It was established in July 2015 from KICRA (Korea Internal Control and Regulatory Authority), which was authorized by the Ministry of Justice of the Republic of Korea in 2011 for the purpose of consulting and educating on the matters related to legal norms and compliance guidelines for corporations, improving the internal control system and educating the general subjects on rehabilitating debtors and insolvency. KORIPA supports members in research and investigation activities on issues regarding debtor rehabilitation and insolvency for developing their professional expertise, drives the improvement and establishment of a comprehensive insolvency practitioner system and promotes healthy development of its associates in the market. It also emphasises ethics and social contribution as the most important values among other activities. KORIPA follows and respects any global standard of insolvency practice. The strategic decision group and governance in KORIPA is the Board of Directors, composed of a chairperson, a few vice-chairpersons and about 10 directors who are professionals in legal, accounting and industrial matters on insolvency and restructuring. The roles and functions of the Association are run by committees and numerous working groups. KORIPA aims to develop and connect mutual business with domestic and international associations and other activities to run profitable businesses. Education and training To enhance and maintain high levels of ethical standards and professional knowledge in member IPs, KORIPA operates a code of ethics and holds regular educational sessions, conferences and seminars. Membership There are two kinds of members in the Association: Member and Special Member. Members should meet one of the following conditions to complete their registration: • To have completed their insolvency practitioner training programme and passed the insolvency practitioner’s licence examination • To have gained or be studying for a doctorate at a university, or in a similar organisation or research institute concerned with debtor rehabilitation • To have more than five years’ experience in companies over a certain size or a public organisation practising debtor rehabilitation or related activities, as well as a Master’s degree from a university • To have over fifteen years’ experience in companies over a certain size or a public organisation practising debtor rehabilitation or related activities • To be a licensed lawyer, accountant, etc. with an interest in debtor rehabilitation. A Special Member is a person or an association connected with this Association, after acceptance by the Board of Directors. Any member can hold membership as long as they observe the rules of ethics and obligations of KORIPA.