We are proud to note that 10 Magazine listed us in an article titled 10 Lawyers in Seoul for English-Speaking Expats in Korea. IPG is listed under the title Large/International Law Firms. Thanks for the mention 10 Magazine. We love your work. IPG Legal and many of our lawyers were listed as top attorneys by numerous legal rating services and magazines. Sean Hayes was, also, rated a top 100 Attorney. To learn more about IPG Legal please check out our website at: IPG Legal. The article by 10
Continue readingCategory: Korea Dispute Resolution
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 your divorce. The average Korean lawyer doesn’t handle many divorces for foreigners, often, is not aware of the
Continue readingKorea 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 complex international arbitration matters and the lack
Continue readingHow to Appeal a Korean Deportation Order or Exit Order?
If you are issued a deportation order or exit order by the Korean Immigration Service, you still have avenues to reverse this Korean deportation order or exit order, however, time is ticking. The main thing you need to, do immediately, is contact an experienced and proactive Korean Immigration Lawyer and get the Korean lawyer all information asked for by the lawyer as soon as possible. IPG Legal has successfully challenged Korean Deportation Orders in Korea and is consistently ranked Top Korean Dispute Resolution Law Firm for our law
Continue readingWhistleblower Protections in Korea Expanded through revised Whistleblower Protection Act
Korea’s Whistleblower Protection Act is, often, criticized for having a too limited scope, since it narrowly covered specific iterated Korean government statutes. Thus, many in Korea have pushed for an expansion of the law to cover a more broad range of Korean laws. With this reality in mind, the Korean Whistleblower Protection Act was expanded to cover 467 statutes up from the prior 284 statutes. The amendment was effective since November of 2020. This Amendment led to many Korean government agencies to promote and foster a team
Continue readingKorean Statute of Limitation in Civil Cases in Korea
The period of the Korean statute of limitations varies based on the type of wrong/breach, the type of parties to the case, and the details of the matter. Failure to file within the applicable period can result in the complete loss of legal rights in Korea, even if the underlying claim is valid. A statute of limitations in Korea (소멸시효) is the legally prescribed period within which a claimant must assert a right through litigation or other legal action. Under the Korean Civil Act (민법) and Korean Commercial
Continue readingKorean Compliance Checklist for your Business in Korea
The following Korean Compliance Checklist is intended only as a basic overview of the requirements for staying on the right side of the law and keeping shareholders off your back. We highly recommend having a compliance audit conducted if you have not completed one for your Korean business within the last 3 years. 1. Do you have a Registered Company/Business? Operating in Korea is not as simple as just leasing an office. All businesses, whether in the form of a corporation or a sole proprietorship, in Korea are
Continue readingKorean Derivative Suit Law
Much like the United States, Korean law permits shareholders of a company to file a lawsuit against the company’s directors/third parties, on behalf of the company, when directors’/third parties’ wrongful acts result in losses or may later result in losses. Please see: Suing Korean Directors for Losses to Korean Companies for more information on this issue. In this type of legal action in Korea, known often as a derivative suit, the plaintiff-shareholders do not bring a claim as themselves as individuals, but as representatives of the corporation,
Continue readingConflict of Interests in Korea: Lawyers as Outside Directors of Listed Korean Companies
The Korea Times published an interesting article that all of us at local law firms in Korea know very well. Korean listed companies love to hire lawyers as outside directors. Many of these companies know that these lawyers will make very little noise when it comes to board action or inaction because of the often strong financial relationship between the firm and the company. Additionally, many of these lawyers are hired by majority shareholders or friends who are company directors to add more perception that the Korean
Continue readingLimiting Director Liability under Korean Law: Don’t Drop the Insurance Policy Yet
Prior to recent amendments to the Korean Commercial Code (“KCC”) it was impossible to limit the liability of directors of Korean companies without the agreement of all shareholders. However, please, still, obtain a Director Liability Insurance Policy. In order to relieve the burden on directors of Korean companies (and their insurance companies) and also to encourage qualified individuals to be willing to become directors (facial purpose), the KCC was amended to exempt directors from some liability in certain cases of breach of fiduciary duties and other duties
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