Merry Christmas and Happy Holidays from all of us at IPG Legal

We wish you a safe and happy holiday season and a healthy and prosperous New Year.

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Execution of Stock Options in Korean Corporations under Korean Commercial Code

Stock options, in Korea, are often provided to senior foreign and domestic employees of companies in Korea.  For stock options, in non-listed/non-public companies in Korea, to be exercisable by employees in Korea (thus a valid option) the option must be approved, in most cases, at a general shareholders meeting of the Korean company. Another article that may be of interest can be found at: Granting & Exercising Stock Options in Korea.   The articles of incorporation should be amended or should

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Contracts Necessary for Doing Business with a Korean Company?

If you would like to avoid Korean court expenses and headaches related to your business in Korea, please do yourself a favor and have you Korean contracts drafted by an experienced Korean professional prior to doing business with a Korean company.  Many of the standard agreements utilized in the West are not adequate for Korea. We handle litigation and arbitration matters for many clients that either used a Korean attorney without adequate experience or that have foregone the use of

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How to Successfully Manufacture OEM in Korea: First Break Products Down to the Threads

While China is the factory to the world, Korea is, still, a great choice for those that enjoy less headaches.  Even though Korea tends to be easier to painlessly manufacture OEM in, Korea is not without risk or pains.  Thus, we advised over the years on these pages to, always, do your due diligence in Korea.   We see an alarming number of cases of fraud and, also, an alarming number of cases where a product infringes on a patent or

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Korea Divorce Checklist for Negotiation of a Marital Separation Agreement in Korea

The following Korea divorce checklist may be useful for those negotiating a marital separation agreement in Korea. We highly recommend the utilization of a marital separation agreement, since the normal Korean judgment doesn’t consider some issues that may arise in the future including pension and social security that are addressed in a typical marital separation agreement.  In most cases, it is advisable to retain a lawyer to assist with you divorce. The average Korean lawyer that doesn’t handle many divorces

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Protecting your Intellectual Property Rights in Korea: Avoid “Trying Different Things & Smoking Funny Things”

A popular song regularly played on the radio proclaims that in the summer of 1989 the songwriter, Kid Rock, was “trying different things and smoking funny things.”  If you have any exposure to the Korean market, do your business a favor and don’t be like the songwriter.  All business with any exposure to the Korean market must have a plan in place to protect their intellectual property.  Thus, for the sake of your company, at a bare minimum, you should

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Korean Labor Law Checklist for Employers and Employees

The Korean Ministry of Labor created this list with revisions by Sean Hayes and IPG.  I will update the list periodically. The checklist is intended for all employers that employ five or more workers. The list contains many generalizations, thus, don’t take this as the end all list.  I suggest, also, clicking on the label to the right entitled Korean Employment Law.  Please note that Korea’s Labor Law is evolving rapidly, thus, this list may not reflect recent changes.   KOREAN

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Audit Proof your Independent Contractor Expenses

I just read a great post on an even better blog entitled the New York Small Business Law Blog. The blog post – Tips on Making your Independent Contractors Audit Proof – notes that the feds are increasing their efforts to crack down on misclassified independent contractors. They advise the attorney gave on how to avoid the scrutiny of the government would have also been useful for a client of ours that ran into an issue with the Korean National Tax Service and the Ministry

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Korea’s Fairness in Subcontracting Transactions Act Amendments of July 2021

The Korean National Assembly passed a bill in July of 2021 that amends the Fairness in Subcontracting Transactions Act (“Subcontracting Act”). The Act makes major changes with regard to discovery in litigation and aims to protect the intellectual property/confidential data/technical data (“Technical Data”) of subcontractors from poaching by prime contractors. For another article on Korea’s Subcontracting Act please see: Fair Transactions in Subcontracting Act of Korea: So Buyer Beware or Simply Avoid the Risk and Buy the Seller. 2021 Amendments

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Debtor’s Liability to New Owner after Transfer of Business and Trade Name

A developer recently contacted IPG Legal concerning a dispute with a supplier of building materials.  The developer purchased building materials from a supplier with payment to be forwarded 30-days after receipt of the materials. This is a common practice when a supplier has a long-term relationship with a developer, provides a consistent flow of supplies to a developer, and the developer is solvent. Here comes the problem.  The supplier was sold and the business and trade name was transferred to

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The Ten Commandments of Labor Relations in South Korea: Korean Human Resources Basics

Korea has one of the most capricious and least efficient labor forces in the world (which the exception of a few industries) and China is catching up with Korea very fast. Vietnam, Cambodia, Laos, Malaysia, Indonesia and the Philippines will soon follow. The fault is not only on the employees, but on the employers.  Korean companies have departed for greener fields in China to discover that the fields are not as green as originally imagined. Many of these same companies,

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Protecting Trade Secrets in Korea: Top 5 Things to Know Before Subjecting your Business Secrets to the Korean Market

We receive emails, regularly, requesting advice on the protection of IP rights in Korea and China.   Most of the issues I addressed in this blog come from these questions.  I realized, after writing over 1000 posts on this blog, that I never drafted a post on trade secrets.  Don’t blame me, blame my paralegal. 🙂 Definition of a Trade Secret in KoreaAs you probably know, a trade secret is, simply any design, process, formula or the like that is

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Happy Korean Thanksgiving

Happy Korean Thanksgiving from all of us at IPG Legal. We wish you a safe and happy holiday.

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Sean Hayes Interviewed on the Shooting of Carlos Lopez by the NYPD

Our New York office’s managing partner, Attorney Sean Hayes is representing, pro bono, the family of Carlos Lopez who was killed in 2003 by NYPD. According to the family of Mr. Lopez, NYPD undercover police officers responding to a shooting mistook Mr. Lopez as the perpetrator of the shooting. Witnesses noted that Mr. Lopez was not involved in the shooting, no gun was found on Mr. Lopez, no gun residue was found on Mr. Lopez and Mr. Lopez was not

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Korean Prosecutors & Police Powers under Amended Criminal Procedure Law

One of the most substantial changes in the powers between the Prosecutors’ Office and Police Office was enacted by the Korean National Assembly through amendments to the Korean Criminal Procedure Act and Prosecutors’ Office Act. These Amendments were made to the Criminal Procedure Act of Korea and the Prosecutors’ Office Act of Korea that shall take effect in 2021. The Amendment reduce the power of the Korean Prosecutions to initiate investigations in certain types of cases, while expanding the powers

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Korea emerges as an Arbitration Hub in East Asia

With several major international companies now calling Seoul home and many international construction contracts choosing Seoul as the venue for arbitration, international arbitration matters are on the rise in Korea. American, Australian, British, Chinese, Indian, German have expanded their interest in the growing Korean market. International conglomerates in Korea have long understood the value of the arbitration process. Regrettably, few Korean attorneys are capable of handling international arbitration cases in the English language, because of the lack of experience in

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Alternative Legal Fee Arrangements at Korean-based Law Firms: Limited Scope Representation Explained

Many Korean law firms have been willing to work in relationships based on a non-time charge flat-fee or contingency basis for Korean clients.  However, many of these law firms in Korea have been unwilling to work on alternative fee arrangements with non-Korean clients, because of, among other things, the requirement to represent the client in a far different manner than that of a Korean client and, also, reduced competition in the foreign-client market, because of the reality that only a

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Last week’s Recap of the Top Legal Headlines in South Korea for the week of August 9, 2021:

Samsung leader Jay Y Lee wins parole from prison South Korean school teacher sentenced in Bitcoin assault case Korean politicans to amend sex crime laws criminalising semen terrorism Press freedom to nose dive after Korean parliament introduces fake news bill Former government official wins discrimination case against Korean government You may schedule a free initial consultation with a lawyer at: Please Schedule a Call with an Attorney. Latest Posts: The Signs of a Great Criminal Lawyer in Korea | English-Speaking

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International Arbitrations in Korea under the IBA Rules

Procedural Arbitration rules are key to the efficient and effective adjudication of arbitration disputes in Korea and, also, worldwide.  These arbitration rules govern and set out the framework for the arbitration process. Evidence gathering and presentation are important aspects of the above procedure, and yet, institutional and ad hoc rules that provide arbitration guidelines on other matters such as the appointment of arbitrators and the nature of award and costs are, usually, silent on this point. Advantages of such a

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Koreans Hold Unique View on Foreign Firms by Tom Coyner

For many years, the Korean market has been synonymous with protectionism in many foreign marketers’ minds. However, with the advent of a strong middle class and its successful struggle to gain a genuine democracy during the past two decades, many of the trade barriers have fallen. As more foreign products and services have become integrated into the Korean economy, a wider acceptance of foreign corporations has taken place. However, it would be a mistake to say this is a trend.

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