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
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International Arbitrations in Korea under the IBA Rules
Procedural Arbitration rules are key to the efficient and effective adjudication of arbitration disputes in Korea and, also, worldwide. These arbitration rules govern and set out the framework for the arbitration process. Evidence gathering and presentation are important aspects of the above procedure, and yet, institutional and ad hoc rules that provide arbitration guidelines on other matters such as the appointment of arbitrators and the nature of award and costs are, usually, silent on this point. Advantages of such a
Continue readingFiling a Complaint to the Merit System Protection Board from within Korea
The Merit System Protection Board (MSPB) is a U.S. government agency protecting the rights of US employees. US Federal employees in South Korea are entitled to the same protections, under U.S. Law as employees based in the United States. The United States attorneys at IPG Legal have extensive experience handling appeal matters at the Merit Systems Protection Board (MSPB), grievances under the Negotiated Grievance Procedure and complaints to the Equal Employment Opportunity Commission (EEOC). We have worked with GS and
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.
Continue readingLiquidated Damages v. Penalties in Korean contracts
As a NY attorney, it’s a bit strange for me to read a Korean contract and see how the word “penalty” is used. In the United States (as well as other common law jurisdictions), when a contract contains a “penalty,” the clause is, often, invalidated. Korea, however, allows some “penalties” in contracts. Cutting to the chase, this is merely an issue of confusing and overlapping terminology. But since its confusing, it is worth explaining. To start with, a bit of
Continue readingKorean Arbitration: An Introduction
Korean Arbitration has come a long way since the ratification of the New York Convention in 1973. The Korean Commercial Arbitration Board (KCAB) went from a small organization handling a handful of cases to, now, and organization handling hundred of arbitration cases each year. The number of international arbitrations is, also, on the rise. This article shall give readers the backstory of how Korean arbitration as a dispute mechanism tool has developed over the years in Korea; review the key
Continue readingChallenging an Arbitrator at the Korean Commercial Arbitration Board
In our last post we discussed, at length, the benefits of arbitration in Korea over litigation in a Korean court. We shall be updating the reader of numerous issues related to arbitration over the next couple of weeks. The following posts concerns challenging of an arbitrator at the Korean Commercial Arbitration Board. Thus, what happens in a situation when you, as a party in a Korean arbitration, feel that the arbitrator is acting in a manner inconsistent with his or
Continue readingThe Case for Arbitration over Litigation in Korea
Many of you are prospectively weighing the options of executing contracts with and without arbitration clauses in Korean contracts (aka setting yourself up for prospective litigation battles in Korean courts or resolving a dispute in Korea with the help of an arbitration panel). Thus, this article is intended to consider the option of arbitration over litigation in Korea. In most cases, IPG recommends arbitration over litigation for expat companies doing business in Korea and/or with Korean companies. While of course
Continue readingLeading Commercial Arbitration Law Firm in Korea
IPG is one of the leading Korean law firms retained for international arbitration matters by multinational companies in need of efficient, proactive and non-conflicted advocacy in Korea, North America and East Asia. IPG was recently ranked as a top Dispute Resolution Law Firm. We work on complex international commercial arbitration disputes, investor-State arbitration disputes, construction arbitration disputes, and a myriad of other commercial disputes for international companies doing business in Korea and/or with Korean companies. Locally Connected – Globally Experienced:
Continue readingIPG Korea Dispute Resolution Law Firm of the Year
IPG’s Korean Office was awarded the distinction as the Korea Dispute Resolution Law Firm of the year by a well-known international business journal in the United Kingdom. The journal is known for producing tailored news and guides for multinational companies doing business in Asia, North America and Europe. IPG is thrilled that, based on feedback from a survey, our frankness, street-smart advice, non-conflicted advocacy and efficiencies created by a cutting-edge case management system was highly appreciated by our clients. For
Continue readingInvoluntary Dissolution of a Company in Korea: Shareholder Disputes in Korean Companies
Under Article 520 of the Korean Commercial Act, a minority shareholder, holding at least 10 percent of the total and outstanding shares of a Korean company, may request to the Korean court of competent jurisdiction the dissolution of a company in Korea. Korean court judges consider this procedure an extraordinary procedure and, only, rule in the affirmative, usually, after all other avenues to resolve the shareholder dispute have failed. However, this procedure is useful, in many disputes, in resolution of
Continue readingKorean Medical Malpractice Arbitration Law
Korean Medical Malpractice lawsuits are often compared to “Beating one’s head against the wall,” since Korean medical malpractice lawsuit are, typically, difficult for patients to prevail in. In medical malpractice cases, in Korea, and in most developed jurisdictions, the plaintiff has the duty to establish, among other things, a nexus between the alleged injury and the actions or in actions of the doctor. Proving this nexus is, often, difficult because of the apprehension of expert witnesses (doctors) to step on
Continue readingEnforcement of Arbitral Awards in Korean Courts: Arbitration Law Basics
After an arbitration panel outside of Korea renders an arbitral award against a Korean company or individual, typically, if the non-prevailing party lacks assets outside of Korea or the prevailing party needs to enjoin acts in Korea, the prevailing party chooses to enforce the arbitration award in Korea. Enforcement is not as easy as just giving arbitral awards to non-prevailing Korean parties. For enforcement of foreign judgments in Korean courts please see: Enforcement of Foreign Judgments in Korean Courts. When
Continue readingArbitration against Korean Government Agencies in Korea: Korean Arbitration Law Basics.
The Korean National Assembly amended the Act on Contract to Which the State is a Party, partially, on December 1, 2017. The amendment was intended to encourage the Korean Government to arbitrate more disputes with parties that have contracted with the Korean Government. To date, few cases have been resolved via Arbitration when disputes occur between the Korean Government and parties to a contract with the Korean Government. The reason stems, mainly, from realities within many Korean-based law firms, within
Continue readingEnglish-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
Continue readingEnglish-Speaking Arbitration Attorneys in Korea
International arbitration between Korean companies and American, Australian, British, Chinese, Indian, German and other nation companies is on the increase. 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 and the lack of adequate English language skills. The reality is Korea has few English-speaking arbitration attorneys capable of handling complex international arbitration matters, thus, many firms have turned to foreign attorneys to fill this glaring
Continue readingU.S. Court Refuses to Enforce Taiwan Arbitral Award: Lesson for Drafting Arbitration Clauses in Korea
My friends over at the publication The International Law Office directed me to an interesting case involving the enforcement of arbitral awards that brings light to the fact that, in most cases, arbitration should not be held in a nation that is not a signatory to the 1958 United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Award (“New Convention”). U.S. Court Reuses to Enforce Taiwan Arbitral Award In Clientron Corp. v. Devon IT, Inc. a U.S. Federal
Continue readingLiquidated Damages Clauses Upheld by Korean Courts
When drafting an agreement with a Korean party, it is, generally, advisable in a case when a breach is not easy to quantify (e.g. Damages for violation of IP Rights) to include a liquidated damages clause. Liquidate damages are monetary awards where a violation is agreed to be, at a minimum, a certain sum of money. Thus, a liquidated damage clause may note that revealing of the intellectual property shall result in damages that will not be less than USD
Continue readingSean Hayes to give Speech at American Bar Association Conference in LA
Sean Hayes will give a presentation entitled Mickey Mouse, Sports Stars, Celebrities, Billions of Dollars at Stake. Who Owns the Rights to an Individual’s or a Character’s Image? 10:30 – 12:30 April 11, 2014. The speech is part of the ABA Business Law Spring Meeting in LA. More information can be found at: ABA ___info@ipglegal.com
Continue readingInvestor-State Disputes/Arbitration in Korea: ABA Dispute Resolution Magazine
The American Bar Association Dispute Resolution Magazine has an interesting article on Investor-State Disputes that is relevant to Korea. The article appears in the Fall 2013 edition of the magazine. Some of the “top” law firms in Korea have been notoriously conflicted – thus leading to choices made in agreements that are less than favorable to clients. This has led, in part, to South Korea being perceived as not a foreign-friendly destination for direct investment. Additionally, the courts, recently, invalidated
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