English-speaking Korean lawyers and International Lawyers at International Law Firm in Korea discussing issues of Korean Law

IPG Legal is a leading client-focused international law firm with offices in Korea that is, often, selected over the ubiquitous Korean Law Firms when success is essential and success depends on nuanced street-smart advice, proactive  and unconflicted representation. Our attorneys are, intentionally. different from the crowd.  From our retired judge partners to our junior associates, we are all trained with an intense focus on client success, lawyer proactivity, and to understand the nexus between your commercial and legal needs. Our attorneys shall never push to you useless memos, non-nuanced legal advice or get you into litigation without an honest assessment of

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Opportunities for Australian and New Zealand Business in Korea

Opportunities for New Zealand and Australian businesses because of recently passed bilateral FTAs are immense.  Korean consumers, increasingly, are looking for quality food products and the “fresh/pure” image of New Zealand and Australian productsplaces these nations’ products at the top of the mindsof Koreans.  New Zealand’s largest exports are:  dairy, beef, lamb, wine,wood and fruits.  While, Australia’s leading exports are: coal, oil & gases, iron ore, precious metals, beef and certain agricultural products. We suspect to see, from these FTAs more interest from consumers in these nations’ products. If you are interested in exploring opportunities for New Zealand and Australian

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Law of the Sea: Vessel Security

My friend over at Norwich University has some interesting stats on Article 110 of UNCLOS. While Somali incidents have dropped 95 percent to seven cases in 2013, piracy in Southeast Asia is exploding. As you may have heard, eight hundred thousand gallons of diesel was recently pilfered from a large oil tanker in the Strait of Malacca. Korea has sent ships to the region. The area is clearly the world’s new piracy hotspot. Attacks and attempts in the waters of Indonesia, which controls much of the Malacca Strait, totaled 107 last year, meaning a 700 percent increase in just five years.

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Weekly Korean Legal News From International Law Firm – IPG Legal for the Week of June 16, 2014

Weekly Korean Legal News From International Law Firm – IPG Legal for the week of June 16, 2014Korean Legal News Reported by the Media on the Week of June 16, 2014 Watchdog to Tighten Monitoring of Stock Trading by Paper Companies FSC, FSS Fight Over Authority Samsung and Korea’s Copy Culture Uzbekistan, South Korea Sign Declaration on Strategic Partnership Development Korea, China Discuss Maritime Border Most Recent Posts from The Korean Law Blog Korean Immigration Law’s 20% Rule Challenged Material Breach of Contracts Under Korean Law: Primary Obligations vs. Secondary Obligations Samsung’s Shareholdings Explained by Wall Street Journal Finding a

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Material Breach of Contracts Under Korean Law: Primary Obligations vs. Secondary Obligations

In most Western nations a “material” breach of a contract leads to the non-breaching party not having to perform its obligations under the contract, while allowing the non-breaching party to immediately sue for all damages (or performance). The Restatement (Second) of Contracts 241 notes that the following criteria can be used to determine whether a specific action/inaction constitutes a material breach: “In determining whether a failure to render or to offer performance is material, the following circumstances are significant: (a) the extent to which the injured party will be deprived of the benefit which he reasonably expected; (b) the extent

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Korea in EU’s Hot Water: Korean Fishing Sanctions by EU

A delegation from the EU is in Korea investigating allegations that Korea is illegally fishing in European Union and surrounding waters. The Directorate General for Maritime and Fisheries of the EU will spend three days in Korea to determine if sanctions should be imposed on Korea for not cooperating with obligations under treaties. Sanction could lead to a ban on Korean fishing in the EU. Korea has, previously, been warned by the European Commission, along with Ghana and Curacao, that it is not meeting its obligations under international treaties.  The allegations have been that Korea is playing little part in

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Is the Sewol Tragedy a ‘Korean Self Portrait’? by Tom Coyner

Sometimes it’s amazing how much we foreigners in Korea live in a bubble. We see the demonstrations and the yellow ribbons. We witness the media mourning and criticizing. And yet, often we foreigners still don’t get what is really going on here – or, at least, we miss an important aspect of a current event. A case in point is the furor created by an immigrant to Chicago, Jo Kwang-dong, a newspaper publisher and television executive in the overseas Korean community. He has written a remarkable essay, “Sewol is Korea’s Self Portrait,” that has spread like wildfire in the Korean

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Weekly Korean Legal News from International Law Firm – IPG Legal

Last Week’s Korean Legal News Reported by the Media Korea Ferry Captain, Three Crew Charged with Homicide Samsung Offers to Reward Ill Workers Court Confirms Apples Did Not Infringe Patents Dokdo Deemed Integral Part of Korea International Marriage in Korea – Legal Issues President Park Vows to Disband Coastguard Most Recent Posts from Korea Law Blog Gangnam Pub to Host Free Legal Consultations Defamation Under Korean Law LG Electronics Succeeds at Supreme Court Liquidated Damages, Penalties, and Confusion in Korean Contracts ___Sean Hayes may be contacted at: SeanHayes@ipglegal.com. Sean Hayes is co-chair of the Korea Practice Team at IPG Legal.

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Arrest/Attachment of Ships at Korean Ports: Maritime Liens in Korea

The arrest of vessels/ships in Korea is a common tool to satisfy judgements against debtors.  Korean courts allow the ex-parte arrest of ships.  The court, normally, does not request from the Korean counsel of the creditor/claimant evidence of how long the ship will remain in Korean waters, as is, sometimes, the case in other neighboring jurisdictions. We find Korea to be a much easier destination for arresting vehicles than many other Asian nations, because of the efficiency focus of the Korean court system and the less than efficient other Asian jurisdictions.  Typically, the arrest action will take a few days

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Korea’s Samsung One of the Top 10 Most Innovative Companies: Booz & Co.

Booz & Co. yearly ranking of the 10 most innovative companies places Apple in the top spot with Samsung closely behind.  What do you think?  What do you think about Samsung’s spending on R & D compared to Apple?  Toyota is the only company on the list that outspends Samsung on R & D and is the 6th largest company in terms of R & D spending.  Courtesy of Flick, Dennis Goedegebuure. Interesting that Amazon makes the list.  What is so innovative about Amazon?  They seem to be just the first to come to market with a comprehensive online shopping

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Release of an Arrested Vessel in Korea: Martime Liens in Korea

We wrote an article about the Arrest of Vessels in Korean waters in a post last week.  The article is a useful guide for those considering arresting a ship in Korean waters.  The post may be found at: Arrest/Attachment of Vessels in Korean Waters: Maritime Liens for Creditors in Korea. This post describes how you may obtain the release of a vessel arrested in Korea waters.  The Korean Courts have put in place an efficient post-arrest procedure that, often, quickly allows the release of an arrested ship. Post-Arrest Procedures in Korea for Ships Arrested in Korean Waters In the post-arrest

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