As complex cross-border litigation, arbitration, and international transactions continue to increase in Korea, foreign courts and overseas counsel are frequently required to apply or assess Korean law and the Korean legal system. In such cases, accurate and nuanced interpretation of Korean statutes, judicial precedent, and regulatory practice is essential. IPG Legal regularly works with foreign lawyers and courts to provide expert opinions on matters governed by Korean law. We often appear in court and provide legal opinions worldwide. The Role of Korean Law Expert Opinions in Cross-Border
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Korean Companies Fined and Held Civilly Liable for Bid Rigging in Public Procurement in Korea
Five civil engineering companies were found to have colluded in bidding for a Gangwon Development Corporation project in Gangneung City, Korea. Following administrative sanctions imposed by the Fair Trade Commission (FTC), the Chuncheon District Court ruled that these companies must pay damages for their unlawful collusion (bid rigging). Facts Court Holding The court found that the defendants violated Article 19(1)(8) of the former MRFTA, which prohibits collusion that interferes with fair competition in public bidding. The court opined that: “The defendants should have independently determined the bidding
Continue readingKorean Supreme Court on Lowest Price Guarantee Criminal Prosecution of Yogiyo under the Fair Trade Act of Korea
The Supreme Court of Korea upheld the not guilty verdict of the company owning the Yogiyo delivery app noting that mandating that a restaurant on the delivery app provides a “lowest price guarantee” and “same quality guarantee” is not a violation of Korea’s Monopoly Regulation and Fair Trade Act on February 20, 2025 (2024Do11863). Thus, acquitting Yogiyo of crimes alleged under the Monopoly Regulation and Fair Trade Act of Korea. Please see: Korean Antitrust Law for more articles on Korean Monopoly & Fair Trade Law. Supreme Court
Continue readingCoupang Criminally Investigated for Violations of Fair Trade Law
A lengthy investigation of Coupang is nearing a conclusion. The Seoul Eastern Division Prosecutor’s Office is investigating Chairman Kim Beom-seok (founder) and CEO Kang Han-seung (retired judge). Coupang has, also, over the past few years had numerous labor complaints from domestic and expat workers. Coupang is a Deleware company that primarily does business in Korea. It is one of the most successful, recent, startup stories in Korea. Presently, the Korean Prosecution Service is reviewing whether it can hold Coupang’s executives, including Chairman Kim Beom-seok and CEO Kang
Continue readingTop 100 Korean Lawyers & Legal Consultants in Korea
Sean Hayes, an attorney for the Top Korean Dispute Resolution Law Firm of the Year was rated by LawAsia, one of the leading peer-reviewed publications in Asia, as a Top 100 Lawyer in Korea. Sean Hayes is one of the only non-Korean attorneys on this Korean Lawyer “A-list” and the only non-Korean that was on the list each year the list was published. Sean Hayes is the first non-Korean attorney to have worked for the Korean court system (Constitutional Court of Korea) and one of the first
Continue readingProposed Amendments to the Monopoly Regulation and Fair Trade Law: 2023
Proposed Amendments to the Monopoly Regulation and Fair Trade Law: Extending Merger Notification Exemptions and Adding a Voluntary Commitment System. The Monopoly Regulation and Fair Trade Act (MRFTA) is being revised, and the Korea Fair Trade Commission (KFTC) has released an advance notice of these proposed changes, which include, among other things, (i) expanding merger notification exemptions; and (ii) introducing commitment processes for merger control. (the “Proposed Revisions”). The KFTC will solicit and compile feedback on the Proposed Revisions during a public notice period that lasts through
Continue readingTop Law Firms in Korea for English-Speaking Clients According to 10 Magazine
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 readingMergers & Acquisition Arbitration Matters under Korean Law at the KCAB
Mergers & Acquisitions (M&As) lead to disputes around the world, many of which are complex and involve money that may change substantially the future of a company, shareholders, employees and other stakeholders. Korea is no different in this respect. Korea witnessed the number of its cross-border transaction disputes explode during the 1997 IMF crisis and continue to steadily increase ever since. Many of these issues ended in arbitration and many others lead to criminal charges and into the Korean courts. While there are no readily available published
Continue readingAntitrust/Competition Consent Orders in Korea
in 2011, the Korean National Assembly passed, along with the Korea-U.S. FTA and related bills, a law that allows the Fair Trade Commission of Korea (KFTC) to accept consent orders. A consent order is similar, in many respects, to a nolo contendere plea. The consent order process has allowed the KFTC to punish without the admission of guilt to the company. This has lead to a decrease, in recent years, of a burden on the KFTC, more efficient enforcement proceedings, and has sped up many M &
Continue readingAbuse of Market Dominance in Korea: Competition Law in Korea
The Seoul Central District Court ruled earlier this year that Namyang Dairy Products Co. (“Namyang”) was in violation of the Monopoly Regulation and Fair Trade Act of Korea by abusing its market dominance and “unfairly taking advantage” of retailers. For more articles on Koran Antitrust Law please see: Korean Antitrust Law. Namyang, a major Korean dairy company, was accused by retailers of, among other things, forcing retailers to purchase expired or soon-to-expire products and purchase unpopular products. The Seoul Central District Court in 2014GaHab592238 ruled the company
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