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By Woo Hyun Baik, Christopher Sung, Hyung Woo Song
MOSF has submitted the draft tax law amendment to the National Assembly.
By Sang Lee, Keun-Chul Song
On June 28, 2016, the Financial Services Commission ("FSC") proposed the enactment of the "Act on the Financial Consumer Protection Framework" (the "Proposed Enactment").
By Woong Park, Il-Suk Lee
On June 28, 2016, the FSC announced the proposed legislation to partially amend the Insurance Business Act with a goal to, among other changes, deregulate insurance companies'...
By Sun Hun Song, Tae Han Yoon, Soobin Ahn
On May 11, 2016, the FSC announced comprehensive plans to reform the licensing policies and regulations to promote market competition and innovation in the Korean asset management industry.
By Sun Hun Song, Tae Han Yoon, Soobin Ahn
Beginning August 1, 2016, Korea's revised law on the corporate governance of financial companies took effect. On the same day, the FSC announced its year-long review of controlling shareholders...
By Sun Hun Song, Tae Han Yoon, Soobin Ahn
On June 27, 2016, the Financial Services Commission ("FSC") announced the proposed amendments to the Presidential Decree to the Financial Investment Services and Capital Markets Act (FSCMA).
By Sung Eyup Park, Jong-Guk Pak
In June 2016, the Korean Fair Trade Commission ("KFTC") announced its proposed amendment to the Enforcement Decree of the Monopoly Regulation and Fair Trade Act...
By Byung-Chol Yoon, Ji Kang
The Korean Supreme Court has recently announced changes to the rules of civil procedure, which are applicable to all civil case briefs filed on or after August 1, 2016 (including in pending cases).
By Jong Park, Sang Park
On July 14, 2016, the Supreme Court reversed the lower court's decision in the lawsuit brought by a consortium of investors led by Hanwha Chemical Corporation (such consortium, "Hanwha") against the "KDB"...
By Yon Kyun Oh, Ilhae Choi
On June 30, 2016, certain amendments to the Act on Development and Management of Logistics Complexes (the "Act"), and the enforcement decrees and regulations....
By Yoon Jeong Lee, In Hwan Jun
Korean public interest in chemical safety has been higher than ever. The public has been hearing news reports that continue to raise health and safety risks...
By Jay (Young-June) Yang, Duck-Soon Chang, Seung-Chan Eom
As a result, the Guidelines essentially articulate specific procedures to be followed in most appellate IP cases in Korea going forward
By Yoon Jeong Lee, In Hwan Jun
This first set involved data submitted by companies, which did not file a data protection application earlier this year.
Companies established after the amendment becomes effective must set up a retirement pension system within one year.
The KORUS FTA is considered as the most ambitious bilateral free trade agreement entered into by both Korea and the U.S.