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 you divorce. The average Korean lawyer that doesn’t handle many divorces

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Korea’s Fairness in Subcontracting Transactions Act Amendments of July 2021

The Korean National Assembly passed a bill in July of 2021 that amends the Fairness in Subcontracting Transactions Act (“Subcontracting Act”). The Act makes major changes with regard to discovery in litigation and aims to protect the intellectual property/confidential data/technical data (“Technical Data”) of subcontractors from poaching by prime contractors. For another article on Korea’s Subcontracting Act please see: Fair Transactions in Subcontracting Act of Korea: So Buyer Beware or Simply Avoid the Risk and Buy the Seller. 2021 Amendments

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Debtor’s Liability to New Owner after Transfer of Business and Trade Name

A developer recently contacted IPG Legal concerning a dispute with a supplier of building materials.  The developer purchased building materials from a supplier with payment to be forwarded 30-days after receipt of the materials. This is a common practice when a supplier has a long-term relationship with a developer, provides a consistent flow of supplies to a developer, and the developer is solvent. Here comes the problem.  The supplier was sold and the business and trade name was transferred to

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Sean Hayes Interviewed on the Shooting of Carlos Lopez by the NYPD

Our New York office’s managing partner, Attorney Sean Hayes is representing, pro bono, the family of Carlos Lopez who was killed in 2003 by NYPD. According to the family of Mr. Lopez, NYPD undercover police officers responding to a shooting mistook Mr. Lopez as the perpetrator of the shooting. Witnesses noted that Mr. Lopez was not involved in the shooting, no gun was found on Mr. Lopez, no gun residue was found on Mr. Lopez and Mr. Lopez was not

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IPG Legal Thwarts the Korean Government’s Attempt to Extradite an American Former Service Member to South Korea

IPG Legal won a release for an American national in an extradition case pending in a U.S. Federal Court by obtaining the Re-Opening of a Finalized Judgment in Korea and obtaining the release of the American national on bail. The American Defendant was held in a jail in America for over seven months until retention of IPG Legal and Hayes & Simon, P.C. in New York City. Sean Hayes argued for the Defendant in a U.S. Federal Court in the United

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Last week’s Recap of the Top Legal Headlines in South Korea for the week of July 26, 2021:

South Korea tables law to remove app stores’ in-app purchase monopolies Korean parliament set to allow direct seizure of crypto assets Anti-Google law gaining strong support from US business groups in Korea Korean crypto exchanges set to come under extra pressure from authorities Employers set to be punished with imprisonment over workplace disasters You may schedule a free initial consultation with a lawyer at: Please Schedule a Call with an Attorney. Latest Posts: The Signs of a Great Criminal Lawyer

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Last week’s Recap of the Top Legal Headlines in South Korea for the week of July 19, 2021:

Korean Teacher gets suspended sentence for homework assignment Optimus Asset Management CEO sentenced in Korean Fraud Scandal Google Anti-Trust :aw set to come in effect in South Korea Korean Government claims that tenant protection laws are providing benefits South Korea tightens cryptocurrency regulations You may schedule a free initial consultation with a lawyer at: Please Schedule a Call with an Attorney. Latest Posts: The Signs of a Great Criminal Lawyer in Korea | English-Speaking Criminal Defense Attorney in Seoul English-Speaking

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Filing 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

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The Weekly Docket: Korean Legal News from International Law Firm IPG Legal

Last week’s Recap of the Top Legal Headlines in South Korea for the week of July 12, 2021: Korean government seeks to improve the legal status of animals Netflix appeals against first trial defeat in Seoul, Korea over network fees R-Rated Minecraft reignites controversy over Korean game classification laws Korean Government to strengthen social distancing measures in remote areas Anti Bullying laws in Korea face further scrutiny You may also schedule a free initial consultation with a lawyer if you

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Whistleblower 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

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What Do You Need To Know About Severance Pay in South Korea?

Severance pay (retirement pay) is the compensation that an employee is entitled to receive from his employer once the employment has ended. And under Employee Retirement Benefit Security Act, a regular full-time employee in South Korea shall receive a severance pay within 14 days from termination of employment. The amount of severance pay is equal to employee’s one month salary for every year of consecutive service. For similar articles, you may read: Statutory Severance Obligations in Korea after Acquisition of

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Calculation of Korean Hourly Wage Rate under the Minimum Wage Act of Korea

Korea’s minimum wage as per the Korean Minimum Wage Act in 2019 is determined by the Minister of Employment & Labor as KRW 8,350 per hour. The latest decisions of the Supreme Court developed a calculation standard/method for determining an hourly wage rate that is not in line with the opinion of the Ministry of Employment & Labor. In many such cases, a Ministry, simply, pushes to amend the law. This matter is important, since the standard hourly wage rate

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Korean Intestate Succession Law: Inheriting Property from your Korean-National Parents

We assist numerous clients concerning intestate succession issues in Korea. Many of these clients are foreigners who are children of a Korean decedent who passed away without a will. Typically, the clients are in need of an asset scrub and assistance in the transfer of the assets to the name of the client and forwarding of the funds overseas. Please note this present article deals, solely, with Interstate Succession under Korean Law. If your parent was, solely, a national of

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Provisional Attachments of Assets in Pending Litigation in Korea Courts

A party attempting to collect on a debt or potential liability based on breach of contract or torts in Korea may obtain a Provisional Attachment of an Asset. Another useful tool to expedite proceeding in a Korean civil matter is to Obtain a Payment Order from a Korean Court.  A provisional attachment is considered provisional, since the attachment is executed prior to the final judgement. The, facial, purpose of a provisional attachment is to secure assets necessary for enforcement in cases where

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Liquidated 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

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Enforcing Punitive & Liquidated Damages Awards against Korean Companies via Contracts with Foreign Subsidiaries of Korean Companies

A recent amendment of the Korean Civil Procedure Act added Article 217-2.  The Amendment has codified a holding by the Seoul Central District Court and other Korean courts noting, in part, that Korean Courts may refuse to “recognize foreign damage awards that clearly exceed amounts considered reasonable in Korea in violation of good morals and the social order of Korea” (99 KaHap 14496, S. Cent. Distr. Court, 10/20/2000). The Amendment allows Korean Courts, in Korea, the power to not recognize

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Liquidated (Penalty) Damages Necessary in Most Korean NDA and Non-Compete Agreements

For any company engaged in negotiations, agreements, pre-M & A due diligence, OEM outsourcing or other activities with a Korean business or individuals that may lead to you disclosing your companies intellectual property, know-how or other proprietary information, always include in your no-competition, non-use, non-circumvention and non-compete agreements a liquidated damages (Penalty Damages) clause.  Without a Penalty Damages Clause – good luck in proving damages when a breach occurs. If the other party refuses to sign the clause, this is good

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Entering into a Joint Venture/Partnership in South Korea?

One of the major parts of my law practice for international clients, in Korea, is the structuring of joint ventures and the resolution of joint venture disputes in court and through arbitration.  I find, in most of these cases, the non-Korean party is not in need of a joint venture with a a Korean party to succeed in Korea and the Korean party does not realize or has no intent in satisfying obligations under the joint venture agreements.  The parties

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Preparation for Korean Police & Prosecutor Interrogations & Witness/Defendant Questioning at Korean Courts

All good Korean attorneys prepare all clients for witness questioning & suspect interrogations in Korea.  Clients may be subpoenaed to appear in a Korean police office, Korean prosecutors office or to appear as a witness or a criminal defendant in a Korean Court and should be thoroughly prepared by their attorneys. We at IPG, hear of too many issues of lawyers, only, telling clients to “tell the truth and don’t worry.”  This is, obviously, not adequate witness or suspect preparation.  We see

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Non-Registered Company Director (Executive Director/Senior Managerial Worker) in Korea deemed Employee under Korean Labor & Employment Law

Article 27 of the Labor Standards Act of Korea stipulates that all “employees” must be notified in writing of the reason for dismissal.  In most cases, 30-days notice or 30-days pay in lieu of notification is required.  Employees may, also, only, be terminated for “fault attributable to the employee” or “urgent managerial necessity.”  The burden is on the employer to prove “justifiable grounds for termination.”  All good proactive employment lawyers in Korea have detailed programs in place that assist in justifying

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