Education: Race to the Bottom

Education: Race to the Bottom By Sean HayesAppeared in the Korea Times on 12/04/07 The Seoul government has finally realized that competition in education is not a bad thing. The present “equality” driven educational system has created a mere race to the bottom, while competition naturally leads to a race to the top. Competition in all fields is natural and should be encouraged. The present system of assigning students to school based on a lottery and location creates the same

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Abortion in Korea

Appeared in the Korea Times11/30/2007 by Sean Hayes  (host of this blog)www.ipglegal.com Dear Sean, ― my Korean girlfriend is pregnant and we would like to abort the fetus. I was told abortion is illegal in Korea? What can we do? Full of Anxiety, in Gangnam Dear Anxiety, Chapter XXVII of the Criminal Code prohibits procuring and administering abortions. However, in 1973, the Maternal and Child Health and the Mother and Fatherless Child Health Acts established exemptions from this prohibition. According

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Right to Privacy: U.S. v. Korea

Brendon Carr has mentioned on his blog that: “The Korean Constitution recognizes a right to privacy. The US Constitution does not—we come from the proverbial “open society”. While both countries subscribe to the idea that the courts do the people’s business’, Korea is much more conservative about balancing the people’s ownership of the judiciary against the individual’s right to privacy.” The U.S. does “recognize the right to privacy.” Roe v. Wade is the most noteworthy case concerning the “right to

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Uncaging Korean Tiger

Uncaging Korean Tiger Appeared in the Korea Times on Nov. 28, 2007 By Sean Hayes The Nordic Tiger has been uncaged. Iceland has joined Hong Kong, Russia, Georgia, Macedonia, Slovakia, Ukraine, and a number of other countries, by adopting a flat tax on individuals and also drastically cutting corporate taxes, estate taxes, and capital gains taxes. Iceland has moved from a sleepy nation in the middle of the frigid North Atlantic to one of the world’s richest nations. The drastic

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Dismal Legal Education

Dismal Korean Legal Education By Sean HayesKorea Times 11/20/2007 Korean lawyers are not meeting the expectations of Korean and foreign clients. The problem stems from the poor quality of education in general and legal education in specific. Businesses in Korea know there is a problem. In a survey conducted a few years back, by Lexis-Nexis and the Korea Economic Daily, 97.3 percent of Korean companies stated that Korean law firms fall behind the world standard. Lawyers, in Korea, know there

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Korean Law School the Shakespearean Tragedy

Korean Law School the Shakespearean Tragedy Appeared in the Korea Times on Nov. 16, 2007 Dear Professor Hayes: As a student of law I am very supportive of the law school system, since it may provide more opportunities to be an attorney, however, I highly doubt the system will create education that nurtures quality legal professionals. Why again are we going astray? Student at Kookmin University. Dear Student: The Law School Bill declares, “Under the current system to nurture legal

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REITS in Korea: Real Estate Investment Trust Law Amended

REITS in Korea: Real Estate Investment Trust Law AmendedLaw Update by Sean Hayes The Real Estate Investment Trust Act was amended in June of 2007 and the law will become effective in October of 2007. The law was revised in order to encourage the establishment of more REITs. The previous law was criticized for being too complicated and for giving too much discretion to the Ministry of Construction and Transportation (MOCT). Elements of the New Korean REIT Law:1. Approval of

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REAL ESTATE INVESTMENT COMPANY ACT (old)

REAL ESTATE INVESTMENT COMPANY ACT (Amended as of January 14, 2005)(New Law in effect on Oct, 2007)CHAPTER I GENERAL PROVISIONS Article 1 (Purpose) The purpose of this Act is to contribute to the development of national economy by prescribing the matters concerning the establishment of a real estate investment company, the management methods of assets thereof and the protection of investors therein to provide citizens at large with more opportunities to invest in the real estate as well as to

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Korean Foreigner’s land Aquisition Act (Enforcement Decree)

ENFORCEMENT DECREE OF THE FOREIGNER’S LAND ACQUISITION ACT INTRODUCTION Details of Enactment and Amendment – Enactment: This Decree was enacted to prescribe matters delegated by the Act on the Acquisition of Lands by Foreigners and their Management (Act No. 4726, Jan. 7, 1994) such as the detailed standards for land for actual use that may be acquired by foreigners and the procedures for such acquisition as well as those necessary for the enforcement thereof following the enactment of the said

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Korean Foreigner’s land Aquisition Act

FOREIGNER’S LAND ACQUISITION ACT INTRODUCTION Details of Enactment and Amendment – Enactment: This Act was enacted on January 7, 1994 as the Act on the Acquisition of Lands by Foreigners and their Management, in order to generally improve and supplement the previous system of land acquisition by foreigners, for example, by allowing foreigners and foreign enterprises easier acquisition of land needed for their business affairs. With the enactment of this Act, the Foreigner’s Land Acquisition Act previously in enforcement (September

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Korean Foreign Investment Promotion Act (Enforcement Decree)

ENFORCEMENT DECREE OF THE FOREIGN INVESTMENT PROMOTION ACT INTRODUCTION Details of Enactment and Amendment – Enactment: This Decree was enacted on November 14, 1998, following the enactment of the Foreign Investment Promotion Act, as the Presidential Decree No. 15931, in order to prescribe the matters mandated by the same Act and the matters necessary for the enforcement thereof. – Amendment: This Decree has taken its present form after going through thirteen amendments, including the latest amendment made on March 8,

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Korean Foreign Investment Promotion Act

FOREIGN INVESTMENT PROMOTION ACT INTRODUCTION Details of Enactment and Amendment – Enactment: This Act was enacted on September 16, 1998 as Act No. 5559, repealing the previously enforced Foreign Investment and Foreign Capital Inducement Act, in order to widely ease the regulations and restrictions on investment by foreigners and expand the tax incentives therefor, and to reorganize from all sides the systems related with foreign investment such as designation of foreign investment zones. – Amendment: This Act has taken its

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Visa for Investors in Korea (D-8 Visa): KRW 100,000,000 Minimal Investment

In order to ensure that the visa is issued in a timely manner and not turned down (difficult to overturn a determination of immigration without litigation) it is advisable to hire an attorney when applying for a D-8 Investment Visa.  The following was drafted by KOTRA (http://english.kotra.or.kr/wps/portal/dken)___________________________Visa for Business Investors (D-8) The visa can be issued for: Specialists engaged in business management, production or technological sector of an FDI company supported by the Foreigner Investment Promotion Act (not including those recruited in

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Inside the Constitutional Court of Korea

Korea Times 10/04/2007by Sean Hayes Dear Professor Hayes: I am studying Korean Law at SNU as an exchange student. I am wondering what is the difference between the function of the Supreme Court and the Constitutional Court and which court is the higher court. Student at SNU Dear Student at SNU: Since the commencement of my relationship with the Court in 1999, I have noticed a drastic increase in foreigner’s awareness of the Constitutional Court. News stories have been published

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Leery of lousy leases, landlords? Get a lien

Leery of lousy leases, landlords? Get a lien The Korean Herald , July 4, 2003By Sean Hayes Dear Sean, I am considering renting an apartment, but the landlord wants a large deposit. Is there any way for me to protect myself against bad landlords that don’t return deposits?- sUneasy in Taejon. Dear Uneasy, there are two main types of residential rental agreements. The most common is Chonse. The Chonse rental system requires a tenant to put approximately 50 percent of

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Korean Investment Visa for Foreigners

Foreign investor’s visa Question: I am a foreigner and I am thinking of starting a small business in South Korea. Is it possible to get a visa or do I need to be sponsored by a Korean company or partner? Foreign investors are eligible to obtain a D-8 residence visa provided they meet certain criteria. To qualify, an employee of a foreign company or an individual must establish a company in Korea or enter into a joint partnership with a

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Restrictions on Foreigners Purchasing Property in Korea

Foreigner Purchasing Property in Korea is not longer restricted for most acquisitions.  An article on Korean Real Estate can be found at: Korean Real Estate Acquisition Taxes. Dear Sean Hayes: I was informed that there are limitations on foreigners purchasing property in Korea. I would like to purchase an apartment and was wondering what restrictions are on foreigners in purchasing property in Korea. What does a foreigner need to do to purchase property in Korea and is it true that

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Kwangju Mayor’s Case Not Planned

Kwangju Mayor’s Case Not Planned Korea Times 11-14-2005 by Sean Hayes Dear Attorney Hayes: Why did a San Francisco Airport search for over an hour a mayor of a major Korean city? Is this just the U.S. trying to punish Koreans for not permissively following America? If the mayor is treated like this how will an average citizen be treated? From Worried and Angry in Yosu. Dear Worried: According to Kwangju Mayor Park Gwang-tae, on Wednesday morning, the mayor and

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Sean Hayes: First expat in Korea’s constitutional court

Article Appeared in the Korea Times in 2003First expat in Korea’s constitutional court2003.04.17 In a homogenous society like Korea, one may suspect the Constitutional Court, one of the nation’s highest constitutional bodies representative of the people, to be homogeneous as well. But when all the members of this exclusive organization gather together, a discrepancy is hard to miss. Meet Sean Hayes. He is the first and only foreigner ever hired by the Court. He is also its youngest member. Sean

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Enforcement of Foreign Judgments in Korean Courts

Enforcement of U.S., European and other Foreign Court Judgments in Korean Courts.  For a more comprehensive article on this issue please see: Execution of Foreign Judgments in Korean Courts. Dear Sean, I have a judgment in a New York court against a Korean importer. I shipped my goods to the company and the company refuses to answer my calls, e-mails, and letters. I sued and won a default judgment in a New York State court. No assets were found in

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