Korea’s Legal Measures to Reduce Fine Dust Pollution

The Korean Special Act on Fine Dust Abatement and Management (hereinafter as “Special Act on Fine Dust”) entered into force on February 15, 2019. The law, primarily, focus is restricting producers of fine dust to reduce the fine dust level in Korea. The Special Act on Fine Dust defines different types of dust and enables officials to set certain fine dust reduction measures. Legal Definitions of Fine Dust The Special Act on Fine Dust provides definitions of “fine dust,” “micro-fine

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Korean Data Privacy Act: Need for Compliance Audit for your Korean Company

The European Union General Data Protection Regulation (EU GDPR) focuses on the data security of personal data of users of the internet. As the EU offers a potentially lucrative market for online businesses for many Korean companies, South Korea was eager to amend its existing Act on the Promotion of IT Network Use and Information Protection of Korea (“Korean Network Act”) based, at least, partially on bench-marking of the EU GDPR. We suggest all companies, doing business in Korea, conduct

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Korea Focuses on Greater Control over Imported Food – Amendment to the Special Act on Imported Food Safety Control 2019

The Special Act on Imported Food Safety Control was recently amended and shall strengthen the on-site inspections of foreign establishments, which already export food to Korea, as well as those, which apply for registration of the importation of overseas food. The Amendment was proposed in early April 2019 and shall become effective upon promulgation. We expect substantially heightened risk for importers and an increase in the price of many imported goods. Major Provisions of the Korean Amendment to the Special

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Korea Government Filed a Complaint with WTO Over Japan’s Export Restrictions on Korea

The South Korean government filed a complaint over Japan’s, recently imposed, export restrictions with the World Trade Organization, blaming Tokyo for taking a biased measure against Korea for political reasons. During a press conference in Seoul, the nation’s Trade Minister Myung-hee YOO said that the Japanese government’s export controls, focusing on Korea, was a direct violation of WTO regulations.  Trade Minister YOO noted the Japanese government’s decision to restrict exports to Korea was, among other things,  politically motivated and is

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Safety Measures in Korean School Buses in Korea via the Amended Road Traffic Act of Korea

The Amendment to the Korean Road Traffic Act (hereinafter as “ Korean RTA”) is in force since March 2019 and shall generally increase the safety for children in school buses in Korea. The Amendment was a reaction to an accident that occurred with in school buses, including children, which got physically harmed or even died. An infamous incident involved a young child that left unattended in a bus and died because of, among other things, heat exhaustion. Korean RTA drastically

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Korean Act on Special Cases Concerning the Establishment and Operation of Internet Banks

In September 2018 the Korean National Assembly passed the Korean Act on Special Cases Concerning the Establishment and Operation of Internet Banks (hereinafter as “Act on Internet-Only Banks”), which is in force since January 2019. The major facial intent of the Act on Internet-Only Banks is to “…encourage innovative enterprises to enter the financial market while laying the legal framework for the convergence of information and communications technologies (ICT) with financial services, and the creation of new economic growth drivers.”

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