Ordinary wages in Korea
March 26, 2018
Calculation of ordinary wages in Korea can have a profound impact on an employer’s labour costs, as ordinary wages are used to calculate other benefits and compensation, including overtime, compensation for unused annual paid leave and severance pay.
Recent amendments to employment and labour laws in Korea
January 29, 2018
Amendments to several Korean employment and labour statutes were passed on November 28, 2017 and will take effect during the first half of 2018 …
South Korea: Amendment of the Fair Trade Act
December 27, 2017
A proposed amendment of the Enforcement Decree of the Monopoly Regulation and Fair Trade Act (Fair Trade Act) was approved by the State Council on September 26, 2017 …
South Korea: Big data ownership and regulation
November 17, 2017
On October 16, 2017, the US Supreme Court decided to hear a case in which Microsoft refused to submit requested data to US law enforcement authorities for a criminal investigation …
Undisputed arbitration experts
October 31, 2017
Since its founding in 2002, Bae, Kim & Lee’s arbitration team has established its reputation as one of the biggest names in international arbitration in the region …
SOUTH KOREA: Amendment of Korean Fair Trade-related Laws
October 13, 2017
The Moon administration is seeking reforms in a variety of areas of the Korean economy, based on its vision of “an economy pursuing co-prosperity” …
South Korea: Compelling foreign-based inventors to provide deposition testimony in the US
September 1, 2017
As part of the discovery process in US patent litigation, the party accused of patent infringement will seek the deposition testimony of the inventor …
Are shares donated to a foundation subject to gift tax?
July 17, 2017
Hwang Pil-sang, the founder of Suwon Kyocharo, a Korean daily newspaper, decided to donate money earned through his newspaper business to help students of the university he attended …
Constitutional Court’s decision on Specific Crimes Act changes sentencing expectations
May 23, 2017
Sparked by an increase in the number of repeat offenders committing crimes, Korea has enacted a number of laws designed to prevent crimes by imposing aggravated punishment on repeat offenders…
S. Korean firm Yulchon establishes ‘Jakarta Desk’ following trends in investment
May 17, 2017
South Korea is currently the third biggest investor in Indonesia …
Visionary External Providers of the Year 2017
May 15, 2017
Introducing the winners of this year’s awards to recognise legal providers that go above and beyond in the service of their clients …
Revised Korean law to protect privacy in smartphone apps
April 13, 2017
On March 22, 2016, Korea took steps to strengthen the protection of personal information in smartphone applications through a partial revision of the Korean Act on Promotion of Information and Communications Network Utilisation and Information Protection, etc.
Unfair competition in Korea
March 14, 2017
The Korean government has taken steps to protect trade secrets more effectively by easing the requirements for trade information to become trade secrets and by enabling …
Hanjin Shipping’s bankruptcy: is it sailing toward liquidation?
February 3, 2017
On August 31, 2016, Korea’s largest shipping company and the seventh-largest shipping line in the world, Hanjin Shipping, filed a rehabilitation (bankruptcy) action in Korea. That filing reverberated around the globe…
Comparing liquidated damages and punitive penalties in Korea
January 5, 2017
Parties to contracts in Korea generally use two types of damages/penalty clauses to prevent breaches of contract: liquidated damages and punitive penalties. …
Yoon & Yang opens Ho Chi Minh City office
November 16, 2016
Yoon & Yang is opening an office in Vietnam, in the heart of Ho Chi Minh City’s central business district. …
Yoon & Yang opens Ho Chi Minh City office
November 16, 2016
Yoon & Yang is opening an office in Vietnam, in the heart of Ho Chi Minh City’s central business district. …
The Enforcement Decree of the Act on Fair Agency Transactions
November 11, 2016
On July 26, 2016, the Korean Fair Trade Commission (FTC) made a pre-announcement of proposed legislation known as the …
Anti-Trust & Competition Special Report
October 14, 2016
Keeping Hong Kong competitive Rose Webb, chief executive officer of the Competition Commission of Hong Kong, talks about the city’s new Competition Ordinance. Recent examples of consent decrees in Korea and their implications The system, introduced in 2011, is expected to be used more actively in the future as companies have begun to view it as a viable way to resolve free-trade cases, write Chang-Ho Kum, Kenneth T Kim and Jin Woo Hwang of Yoon & Yang. Levelling the playing field in the Philippines Until last year, the Philippines was the only founding member of Asean that did not have a comprehensive competition law in place. Francisco Ed Lim, Patricia-Ann T Prodigalidad, Eric R Recalde of ACCRALAW review the Philippine Competition Act. India: The ‘single economic entity’ defence Although India’s competition law framework is in its early stages, the Competition Commission has reviewed several cases where the ‘single economic entity’ defence has been raised. Ritika Ganju and Ankur Verma of Phoenix Legal analyse the precedent.
Recent examples of consent decrees in Korea and their implications
October 14, 2016
Despite an animated exchange of opinions regarding consent decrees since their introduction in Korea in 2011, expect the system to be used more actively in the future as companies have begun to view it as a viable way to resolve free-trade cases, write Chang-Ho Kum, Kenneth T Kim and Jin Woo Hwang of Yoon & Yang.
Amendment of the Arbitration Act
October 12, 2016
The amended Arbitration Act was announced on May 29, 2016. It is the first time in 17 years that the Arbitration Act has ….
Companies face restrictions under Graft Act
September 9, 2016
Following the Constitutional Court’s decision on the Improper Solicitation and Graft Act, known as the Kim Young-ran Act, …
Major reform of Korean Trademark Law to follow international trends
July 12, 2016
The Act Providing Major Amendments to the Trademark Law (the Act) was passed by the National Assembly on February 4 …
The right to be forgotten
June 1, 2016
One of the issues created by the Internet concerns the right to delete what one has posted on the web …
IP & TMT
April 20, 2016
While Gilkron’s General Counsel looks at ways technology can aid in-house counsel in ‘IP can be both easy and hard to find’, Yoon & Yang focus on the implications of new technology in ‘Regulation of personal information in new fields’.
Special act on revitalising companies to take effect in August 2016
April 18, 2016
On February 4, 2016, the “Special Act on Revitalising Companies” (the Act) was passed by the National Assembly of Korea as temporary legislation …
The Korean government announces Guidelines on Fair Employee Evaluations and Rules of Employment to help enforce its labour reforms
March 22, 2016
On January 22, 2016, the Ministry of Employment and Labour (MOEL) announced Guidelines on Fair Employee Evaluations and Guidelines …
Banking on change
January 19, 2016
Managing Director and Head, Group Legal and Secretariat at DBS Bank Sue Lynn Koo discusses her career trajectory, the importance of out-of-the-box thinking and how technology is both a blessing and a curse for her role. She also gives advice to external counsel she wishes she’d heard when she was one, and reveals the best advice she’s ever been given.
Regulation of personal information in new fields
January 19, 2016
Focussing on topics such as big data, cloud computing and healthcare, Wonil Kim, Kwang-Wook Lee and Ji Hye Seol of Yoon & Yang examine how new technologies will affect personal information regulation in South Korea.
New amendment to the Korean Commercial Code
January 13, 2016
On November 15, 2015, an amendment to the Korean Commercial Code (the KCC) was announced. The amendment, which will take effect in February 2016…
Status of Executives under the Labour Standards Act
December 16, 2015
Many multinational companies doing business in Korea perceive the country’s labour law as strict and heavily favouring workers. The Labour Standards Act of Korea (LSA) nullifies “at-will” employment …