Those abroad or in Korea frequently struggle to comprehend how to safeguard their elderly parents, or family members who are residing in Korea. Don’t fret, a system is in place in Korea to assist families in need. Korean Guardianship Law was revised to meet the growing need for guardians in Korea. For a list of the type of Guardians in Korea please see: The Formalities under the Guardian Law of Korea The need for adult guardianship among seniors residing in
Continue readingAuthor: Sean Hayes
Sean Hayes is the first non-Korean employed as a foreign attorney by the Korean Court System (Constitutional Court of Korea) and one of the first non-Koreans to be a full-time regular member of a Korean law faculty. He is rated a Top Attorney by numerous legal rating agencies and is known for his street-smart advice, candor and aggressive & non-conflicted advocacy.
Sean has been quoted by The New York Times, The Wall Street Journal, Bloomberg, CNN, Money Today, US Today, The Korea Times, The Korea Herald, France 24, Asia Legal Business and other leading news sources.
IPG was, recently, rated a top Dispute Resolution Law Firm and Sean a Top 100 Lawyer for International Law.
Mergers & Acquisitions in The Korean E-Commerce Market: Opportunities for Foreign Niche E-Commerce Sites
First-generation Korean e-commerce enterprises are currently working to integrate recently acquired businesses and create new business prospects in the fiercely competitive E-commerce market of Korea. Last month, Korea Center, the owner of Enuri.com, the nation’s oldest online shopping mall and Danawa, another local e-commerce business, merged. In order to increase their ability to compete in the market, the two businesses intend to operate their e-commerce platforms independently while eventually building an integrated system forthe analysis of online shopping data. The
Continue readingForce Majeure Jurisprudence in the Republic of Korea
Korea has recently been affected by typhoons and severe flooding caused by the heaviest rainfall in centuries. These issues led to the loss of life, property, business and the livelihood of many individuals. Many alleged defaulting/breaching parties to an agreement have claimed Force Majeure as a defense to non-performance of contractual obligations. A Korean court recognized Force Majeure Event offers relief to the alleged defaulting/breaching party, in Korea, if the party fulfils the legal requirements noted below. Force Majeure Defined
Continue readingCriminal Record Checks in Korea
We assist expats who have lived in Korea with Korean Police Clearance Certificates and Korean Criminal Record Check Certificates. The process to obtain these records, in Korea, is regrettably not so easy in many cases, because of a new Korean Law. Why is a Criminal Record Check needed? A criminal record check in Korea is typically required for some jobs, including teaching positions, as proof that the applicant did not commit any crimes while in Korea. It is also required
Continue readingDivorce in South Korea: Divorce by Agreement & Divorce by Court Order in Korea
A Basic Explanation of the Types of Divorces in Korea. Under Korean law, there are two types of divorces. One is divorce by mutual agreement and the other is divorce by court order. agree to dissolve their marriage amicably. We advise, in all but the most exceptional of matters, to engage a lawyer in Korea to obtain a divorce by court order (judicial divorce) and forgo a divorce by mutual agreement to insure that the divorce is recognized in all
Continue readingKorean Small Business Partnerships/Joint Venture Startups
Starting a small business in Korea can be enjoyable and profitable if you get the business on the right track from the start. Too often we see those with “limited funds” (we all have limited funds -even multinationals have limited funds) choosing to forgo having the deals structured by a professional and just downloading a “partnership” agreement off the internet. Avoid the headaches and the costs in the future and structure all right from the start. I have learned from
Continue readingThe Korean Tax Law Reform Proposal of 2022
The Korean Ministry of Economy and Finance plans to submit the following Korean Tax reform proposal to theNational Assembly and seeks approval before the 2nd of September 2022. The Korean Tax Reform Plan consists of changes with an emphasis on three goals of the new administration: Tax Incentives for foreign professionals working in KoreaThe Korean Government intends to extend a 50% cut to income taxes for highly skilled foreign engineers to 10 years from the current criteria of 5 years.
Continue readingOpportunities in the K-Beauty Export/Import Business
The Success of K- Beauty Exports and The Impact on Economy One of the top 10 beauty markets in the world, South Korea is renowned for its inventiveness, gentle ingredients, and attractive packaging. Due to the effects of COVID-19, the market size was projected to be $6.8 billion in 2020, a considerable decrease from the $9.4 billion it was the previous year. The total export of K-beauty products and the balance of trade have improved by about 16% and 14%
Continue readingDeregulation of Korean Cloud Computing and Network Separation in the Korean Financial Sector in South Korea
Deregulation of Cloud Computing and Network Separation in the Financial Sector in Korea explained by lawyers at a leading law firm in Korea. Korean Cloud Computing and Network Separation Rules: Improvements in the Korean Financial Sector. The Korean Financial Services Commission presented its intentions to enhance the rules governing cloud computing and network separation in the Korean financial industry on April 14, 2022. This Korean government plan was created in response to the financial industry’s worries about the challenges associated
Continue readingWhat Constitutes an “Employee” under Korean Law?
Who is an Employee/Worker under Korean Law with the Rights and Protections under Korean Labor Standards Acts and Related Laws & Regulations? The definition of an employee in Korea is a topic that had filled books. The following is a brief introduction to an issue that IPG Legal litigates for foreign employees of Korean companies and for foreign companies doing business in Korea. IPG Legal is the go to law firm for expats and foreign companies doing business in Korea
Continue readingShort of Workers in Korea Deepens Issues in the Korean Construction Industry
The shortage of workers in South Korea’s construction industry is deepening, and it has pushed the industry to request the government to allow in more foreign workers. The industry is now discussing with the government easing regulations on visa rules in order to hire more foreign construction workers to overcome this serious shortage. We hope that the new Korean Administration considers foreigners a necessary and important part of the Korean economy. These proposals from the Korean Construction Industry come as
Continue readingKorean Patent Act Development of 2022
Major revisions to the South Korean Patent Act (KPA) came into effect on April 20, 2022. The period for filing an appeal against a rejection decision in Korea will be extended from 30 days to three months. Under the amended Korean Patent Act (KPA), applicants can save costs by avoiding time extensions that earlier had a narrow time period of 30 days. The time period was extended to three months from the date of receipt of a Notice of Final
Continue readingRenewal Rights/Terms for Commercial Leases in Korea Under Amended Commercial Building Lease Protection Act of Korea
The Korean Commercial Building Lease Protection Act (“CBLP”) came into force on August 13, 2013. The Korean CBLP amendments, mentioned below, will solely come into force for leases entered into after August 13, 2013. The changes will assist those with large deposits from being evicted by a landlord in Korea based on no apparent reasons. Please note a new law has come into effect and we shall be writing on this new law within the next couple of weeks. Please
Continue readingKorean Inheritance Tax for Estates in Korea
IPG Legal lawyers handled numerous inheritance and inheritance tax matters over our nearly two decades handling cases for expats, families abroad, domestic families and foreigners with residence in Korea. The Korean Inheritance Tax Deductions Chart and the Korean Inheritance Tax Rate Chart were drafted, since many clients contact us wishing to understand how to calculate inheritance tax and how to save on inheritance tax. The following is, only, meant as a brief guide. We, always, rely on an inhouse accountant
Continue readingIPG Legal’s Korean Criminal Defense Practice
IPG Legal is one of the only law firms in Korea that obtained dozens of not guilty, dismissals and suspension of indictments in Korea. We handled hundreds of cases for foreigners in Korea and believe that we are the most experienced law firm in Korea handling criminal defense cases for expats, business executives, U.S. government employees and senior enlisted soldiers and airmen working in Korea. Our criminal defense attorneys have worked with expats on criminal matters in Korea for over
Continue readingForeign Franchisees Joining the Korean Franchise Association
The Korean Franchise Association is an organization that is authorized/licensed by the Korean Ministry of Trade, Industry & Energy. All domestic and foreign franchises that have registered Franchise Disclosure Statements with the Korean Fair Trade Commission can apply to the Korean Franchise Association. IPG Legal believes, most foreign franchisors, should join the Korean Franchise Association. The KFA is an excellent resource for market intelligence and an excellent conduit to understand the unique aspects of the Korean franchise market and Korea’s
Continue readingDefinition of “Ordinary Wage” in Korea: Korean Employment & Labor Law Basics
The courts of the Republic of Korea, for years, has struggled to find a consistent interpretation of an “Ordinary Wage.” The definition of Ordinary Wage, under Korean Law, was clarified by the Korean Supreme Court in two decisions handed down on December 18, 2013. The calculation of Ordinary Wages is important, since the calculation is utilized to calculate statutory entitlements, and thus has an impact on the aggregate amount of contributions necessary to be paid to employees. For example, according
Continue readingKorean Trademark Act Amendments for 2022
Recent Amendments to the Korean Trademark Act were passed by the the National Assembly of Korea. On February 3, 2022, the National Assembly published the Korean Trademark Act revisions. One major revision was the expansion of the meaning of “use of a trademark.” The revision should make the application process easier for applicants and expand the rights of those granted a trademark. IPG Legal welcomes these changes. Another article that may be of interest to the reader includes: Korean Intellectual
Continue readingMaterial Omissions in Korean Franchise Disclosure Documents in South Korea
In April of 2015, the Supreme Court of Korea ruled that under Article 4; Article (9)(1); and Article 41(1) of the prior version of the Fair Transactions in Franchise Business Act (“Franchise Act”) damages may be obtained, from a franchisor, for all material omissions (Supreme Court 2014 DA 84824,84831, April 9, 2015) within Korean Franchise Disclosure Documents. Thus, we advise all franchises in Korea to review and update their franchise agreements, thoroughly, on a yearly basis. Damages for Material Omissions
Continue readingDismissal of Employees in Korea: Supreme Court of Korea Precedent
The Korean Supreme Court ruled, in March of 2018, that a company may terminate employees for one incident of employee gambling. The case is a precedent that may make it easier for employees to terminate employees that violate certain company rules without the need to provide notification and an opportunity to improve. The case stems from the termination of bus drivers that were caught on one occasion gambling prior to driving buses. The lower courts ruled, in short, that gambling
Continue reading
You must be logged in to post a comment.