Unfair/Wrongful Dismissal of Foreign Executives under Term Contract with Korean Chaebols & MNL in Korea

Expat executives working in Korea are typically hired by Korean conglomerates and multinational companies doing business in Korea based on two or three-year contracts. Many of these contracts contain terms that are in violation of the Korean Labor Standards Act and other laws and regulations. These employment contracts often have one to six-month at-will termination clauses. In many cases, these contracts are in violation of the Korean Labor Standards Act and other laws and regulations. Many foreign executives, recently, have

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Establishing a Company in Korea: New Korean Corporate Forms Available under Revised Korean Code

According to the Ministry of Justice, over 95% of corporations in Korea are formed as a Chushik Hoesa, while the Korean Commercial Code (KCC), at this time, defines four different types of Korean potential business entities.  In order to allow a little more flexibility, two new business forms have been created. The recent amendment to the Korea Commercial Code, which will be promulgated in April of 2012, introduces two new forms of Korean business entities: Hapja Johap (LLP) Yuhan Chaekim

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Smuggling Goods into Korea in Violation of Korea’s Customs Law

The Offense of Smuggling, in Korea, is proscribed by Article 269 of the Customs Act – along with various other Korean regulations. Article 269(2) notes that: “Any of the following persons shall be punished by imprisonment for not more than five years, or by a fine equivalent to ten times the amount of Customs duties or the cost of the relevant goods, whichever is lower.” In order not to violate the law, please fill out a Customs Declaration under Article

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Hiring a Korean Independent Contractor for Work in Korea

We receive many requests for drafting Korean independent contractor agreements and we, sometime, decide with the client, that it is better to have a Korean distribution or agency agreement with a company, because of uncertainty in Korean Labor & Employment Law and other reasons. Korea’s court decisions on Korean Labor Law are as predictable as the Korean weather and the standard to determine if one is an independent contractor or an “employee” is as clear as a Beijing sky. For

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Chinese are Coming: Huawei Phones in Korea?

It was reported, yesterday, in local Korean vernaculars that Huawei is testing phones in Korea.  It seems like Huawei has applied to the Korean government for testing of its phones via the LG Uplus network. Huawei phones will, likely, sell for near half the price of Samsung phones.  As I have been noting for a long time, if Samsung does not lower costs (near impossible) or create innovative technology/native software – we will see Samsung in the same situation as

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Hiring/Terminating an Employee/Contractor in Korea: Employment Law in Korea

One of the largest areas of Korean law that we consult on is labor & employment law.  Because of, inter alia, the lack of the conception in Korea of an “at-will” worker – many non-Korean employers get their feet into hot water when structuring agent, consultant, employment and even distribution agreements with Korean individuals.  Some of these arrangements – lead to us needing to defend employers in court.  An expense – that would have, typically, not been necessary. The reality

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Weekly Korean Legal News From International Law Firm – IPG Legal for the Week of July 28, 2014

Weekly Korean Legal News From International Law Firm – IPG Legal for the Week of July 28, 2014Korean Legal News Reported by the Media on the Week of July 28, 2014 IMC may blacklist Korean builders over collusion Prosecutors continue probe into ferry owner’s driver Foreign workers upset by severance pay formula Restructuring urgent for big Korean companies Relocation of USFK Headquarters to Go Ahead Most Recent Posts from the Korean Law Blog This slot is reserved for the new

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Samsung Faces Challenges as It Tries to Win Smartphone Wars

CNBC released an interesting article on how the largest smartphone maker can win the smartphone war. The article pointed out that despite the recently lowered guidance, Samsung is likely to deliver strong results. The article also mentioned four points that Samsung needs to improve in order to retain its edge in the smartphone market. User interface – “In order to retain its lead over the long term, Samsung needs to build a platform that’s as compelling for app developers and users as Apple.” Customer

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Korean Franchise Law Basics for Franchisors Intending to Do Business in Korea

Over the next week couple of weeks we will be posting articles on the updated Korean Franchise Law. The articles will be listed below. The articles will address the major issues facing franchisors in the Korean market.If you have any topics that interest you or will interest other readers – please advise. Articles on the Basics of Korean Franchise Law: Distribution Agreements in Korea: Crawl before you Walk Korean Small Business Partnerships/Joint Ventures: Pubs, Distributors, Exporters, Boutiques, Franchises and Basic

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Weekly Korean Legal News From International Law Firm – IPG Legal for the Week of July 21, 2014

Weekly Korean Legal News From International Law Firm – IPG Legal for the Week of July 21, 2014Korean Legal News Reported by the Media on the Week of July 21, 2014 South Korea Plans $40 Billion Stimulus to Tackle Weakening Growth Seoul to push tax on corporate cash reserves U.S. Chamber of Commerce chief urges FTA implemantation Workers in Their 60s Outnumber 20-Somethings Mortgage deregulation raises concerns Most Recent Posts from the Korean Law Blog Debt Collection in Korea: Foreign

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