When we wrote the first edition, it was before the Covid-19 pandemic, and before Trump Administration. The world economy has been very unpredictable since the global financial crisis of 2008. The crisis was rarely predicted when it started and even today we do not know when it ends. All we know is that the global environment where a corporation needs to survive and grow has become very unstable since the beginning of the crisis. Will this crisis be another temporary depression as we have seen before or will it be a beginning of the collapse of economic system as we know it now? Before we answer to such a big question, we also want to stick to the lesson that we learned from the volatile modern history of Korea.That is, a big crisis can be a big opportunity as long as you keep hope and strength. With such a positive and wishful thinking in the minds, we tried to summarize all the major factors of the global market, which may affect to the activities of global corporations in both short and long term basis in order to make corporations prepare for the uncertain future in a better shape.This book was motivated by the desire we and others have had to further the evolution of the core course in international legal issues on corporations under current global crisis. As this book is written for students with little legal knowledge, we have done our best to make it simple and easy when we are dealing with legal jargons and theories hoping that this book can be a guiding light to the readers when they want to grasp the very fundamental structure of legal system surrounding today's corporations in the global market. As the U.S. is a dominant power in the world economy, it is unavoidable and also necessary that this book is focusing on the U.S. perspectives rather than many other countries' perspectives. We would like to focus more on other countries, especially China, when we publish a revised version of this book later. It has been a great time for us to finish this book after many years of preparation and research. We are of concern that after such a long period of preparation, this book still needs to be improved in many points. We will continue to make every effort to improve the quality of this book from now on. Nevertheless, we are very honored and excited to wrap up this chapter of our lives by introducing this book of the second edition to the world.