Weekly Korean Legal News From International Law Firm – IPG Legal for the Week of July 7, 2014

Weekly Korean Legal News From International Law Firm – IPG Legal For the Week of July 7, 2014Korean Legal News Reported by the Media on the Week of July 7, 2014 Science Ministry to Introduce Laws for Better Mobile Service Plans Validity of Financial Holding Firms in Question Bank of Korea Hints at Rate Cut Pantech Sinking into Deeper Liquidity Crisis Samsung Chief Marks 2 Months in Hospital Most Recent Posts from the Korean Law Blog Is Samsung Doomed? No

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Witholdings Taxes on Transactions between Korean & Hong Kong Companies

The Republic of Korea and Hong Kong signed a double taxation treaty on July of 2014.  The treaty will come into force, if ratified, by the respective assemblies.  Under Korea Tax Law, the, normal, withholding tax is 22%.  The main purpose of the treaty is to reduce this rate and, also, allow the governments to share information on potential tax evaders.  This double taxation treaty, among other things, includes provisions for: A 15% Withholding Tax on dividends and a 10%

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Weekly Korean Legal News From International Law Firm – IPG Legal for the Week of June 30, 2014

Weekly Korean Legal News From International Law Firm – IPG Legal for the Week of June 30, 2014Korean Legal News Reported by the Media on the Week of June 30, 2014 FSS Chief Pledges to Back Foreign Firms Cho Steering Hanjin Shipping Out of Liquidity Crunch Park, Xi Boost Security, Business Ties Korea, China to Seal FTA by Year’s End Won Goes from Strength to Strength Most Recent Posts from the Korean Law Blog Is Samsung Doomed? No Innovation Price

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Weekly Korean Legal News From International Law Firm – IPG Legal for the Week of June 23, 2014

Weekly Korean Legal News From International Law Firm – IPG Legal for the Week of June 23, 2014Korean Legal News Reported by the Media on the Week of June 23, 2014 Samsung, LG at War over Android Wearables Hyundai Motor to Be Fined for Overstated Fuel Economy Korea Recognized for Combating Money Laundering Asiana Accepts Responsibility for Crash Penalties Likely for Woori Bank Most Recent Posts from the Korean Law Blog Is Korea’s “Copy Culture” the Largest Threat to the

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Korean Immigration Law’s 20% Rule Challenged

Increased direct foreign investment to Korea is, facially, Park Gun Hye’s Administration’s top priority. However, according to the Korea Herald, it seems like the Korean bureaucracy is not following the Park Administration. The Korea Herald reported that foreign companies have increased complainants about the current Korean immigration law as exemplified in at a government-organized forum in Seoul last week.   The complaints have come, in part, because “[u]nder Korean immigration regulations, companies are allowed to employ a workforce with up

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Korean Start-up Visa: First Visa Issued to Korean American Entrepreneur

A Korean government news portal announced that the first “Start-up Visa” has been issued to Jason Lee of J.J. Lee Company. Ignoring the fact that he, most likely, qualified, for an Ethnic-Korean visa (F-4), the entrepreneur obtained the visa, apparently, with few issues. We are unsure how difficult it will be for other entrepreneurs to obtain this visa.The major requirements for the visa are: 1.  Intellectual Property registered in Korea (yes registered in Korea-overseas is not good enough); 2.  A

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Korean Visa Rules Still not Strict Enough for Some in the Korean Government

According to a new article in the Korea Herald based on government data, nearly 3 out of 10 short-term foreign visitors to South Korea stay here illegally.  The story didn’t specify exactly what an “illegal stay” meant, but it did take the time to classify the nationalities of the offending foreigners – 43.7% of them were Chinese, with the next-biggest group of offenders being Thais at 19.4%. What we found most interesting about the article is that it attributes the

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Visa Benefits for Korean Homosexuals in America: Defense of Marriage Act Held Unconstitutional

The U.S. Supreme Court, in a 5-4 holding that was split on the typical ideological camps, declared unconstitutional the U.S. Defense of Marriage Act.  The Defense of Marriage Act denied federal benefits to same-sex spouses.  In declaring the law unconstitutional the majority opinion by Justice Kennedy opined that the law simply; “writes inequality into the entire United States code.”   Justice Kennedy went on to opine that the law, in of itself, is “demeaning” and “humiliating” to gays and lesbians.  Justice

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10 Top Cities in Asia for FDI in 2012- One Korean City on the List

The Financial Times, yearly,  posts on its Financial Intelligence site a ranking of the top 10 destinations in Asia for Foreign Direct Investment.  One Korean city appears on the list, three Chinese cities and four Australian cities along with the usual characters.   1.   Singapore2.   Melbourne3.   Hong Kong4.   Brisbane5.   Sydney6.   Busan7.   Auckland8.   Perth9.   Guangzhou10. Chengdu ________Sean Hayes may be contacted at: SeanHayes@ipglegal.com. Sean Hayes is co-chair of the Korea Practice Team for an international law firm. He is the only

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Korean Lawyers and Law Firms: One of the Most Comprehensive Lists of Attorneys in South Korea Capable of Handling the Needs of Expat Clients

I find the best list of major Korean law firms/attorneys can be found at HG.  Not all law firms on the list are advised to be utilized, additionally,  I suggest, always, hiring an experienced foreign lawyer to work alongside your Korean lawyer.  The best foreign lawyers are, typically, those with significant experience working alongside Korean judges and prosecutors. Few foreigner lawyers have experience with litigation, thus, if you are involved in litigation, please consult with one of the handful of

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