The Korean Supreme Court has recently rendered a judgment highlighting the requirements for Korean courts to accept the service of legal documents, in Korea. In a case involving a dispute over the existence of a right of easement, the Supreme Court of Korea declared that merely listing an address in appeal documents is not sufficient if there is no possibility of receiving the legal documents at that location. This decision has far-reaching implications for those wishing to serve documents on
Continue readingThe Korean Law Blog by IPG Legal
IPG Legal is a Top-Rated Client-Centered International Law Firm that was rated a top Dispute Resolution Law Firm three years in a row. Sean Hayes, one of the blog authors, was rated a Top 100 Lawyer four years in a row. Schedule a legal consultation by the Schedule Appointment link above.
Can you claim severance pay from a Non-Korean Employer?
Severance Pay is a payment which the employer is required to pay an “employee” for a retiring, terminated or resigning employees that works for a company in Korea for, at least, one year. The reason for termination, retirement or resignation does not effect the applicability of the severance requirement. Even an employee who is fired due to fault can claim severance pay under Korean law. Severance pay is a statutory liability of the employer. It doesn’t matter whether an employment
Continue readingPending Bill in Korea Aims to Protect Crime Victims’ Identities
Korea has many protections in place to protect the privacy of individuals, however, a concerning issue has come to light, in recent years, regarding the exposure of Korean victims’ identities and addresses during legal proceedings in Korea. Korean lawmakers, reacting to this issue, proposed a bill aimed at safeguarding the personal information of alleged crime victims. The bill has been stuck in legislative limbo for over two years. The Busan Hit-and-Run CaseOne particular incident, widely known as the “Busan hit-and-run
Continue readingAcquiring Shares in Closed Korean Corporations in Exchange for Products at Discount: Don’t Forget the Due Diligence in Korea
I just received a phone call from a prospective client with a wonderful product that has been offered a sweetheart deal. Whenever I hear that someone has received a no risk or sweetheart deal in Korea, a red flag immediately goes up in my head and I immediately request the client to let me do a couple of weeks of due diligence. One of the many, ubiquitous, sweetheart deals is ownership of shares in company in exchange for some benefit
Continue readingRight Against Self-Incrimination in Korea
In a Korean trial known as the “Namsan 300 Million Won Case,” two prominent figures, former Shinhan Bank Chairman Shin Sang-hoon and former Shinhan Bank President Lee Baek-soon of Shinhan Financial Group, were acquitted on charges of perjury. The judgment has sparked controversy and raised important questions about the status of witnesses when they themselves are criminal defendants in a case in Korea. Shinhan Bank is one of the largest banks in Korea. Background of the “Namsan 300 Million Won
Continue readingWhat Should I do if I Receive a Korean Summons for a Criminal Investigation in Korea?
CAN KOREAN POLICE ISSUE AND ENFORCE A SUMMONS EVEN WHEN THE SUSPECT RESIDES ABROAD? Yes. The Korean Criminal Procedure Law applies to foreigners who have committed crimes within Korea as well as those who have committed crimes against residents of Korea while residing outside of Korea. Upon suspicion of a crime, the Korean police and Korean prosecution may move to demand the foreign suspect to attend an investigation in Korea. Thus, typically, the Korean Prosecution Services issues a summons. The
Continue readingIs a Non-Registered Company Director in Korea an Employee under Korean Labor Law
Many non-Korean workers for Korean and international companies doing business in Korea are hired under the title Director. Many of these workers are, in reality, executive employees working as executive-level managers. Many of these workers are “employees” under the Korean Labor Standards with all of the protections afforded employees. For an article on the dismissal of Foreign Executives in Korea please see: Unfair Dismissal of Foreign Executives under Korean Term Contracts and Dismissal of Employees in Korea. Korean Labor Standards
Continue readingDivorce Lawyers in South Korea
IPG Legal attorneys handled divorces, child custody, Hague child abduction cases, and asset division cases for foreigners residing in Korea and abroad for over two decades. IPG is one of the most experienced law firms working with expats in Korea and we are the go-to choice for U.S. and European Family Law Attorneys wishing to work on custody, Hague child abduction, asset division, and divorce issues internationally with respected counsel in Korea. Our firm is one of the only firms,
Continue readingNon-Compete Clauses in Korean Employment Agreements and Korean Business Sales Agreements
Non-compete clauses in Korean employment contracts are enforceable in Korea, but there are some limitations and requirements that must be met for them to be regarded as lawful and, thus, enforceable. A Non-Compete Clause is a type of restrictive covenant that is designed to protect the business of an employer from competition from a particular party. These clauses are, typically, utilized after the completion of the sale of a business or after termination of employment. The following article shall, specifically,
Continue readingThe “2023 Proposal” to the Korean Electronic Financial Transactions Act
On May 11, 2023, the National Policy Committee of the Korean National Assembly passed a bill known as the “2023 Proposal” on the Act on the Protection of Virtual Asset Investors (“Act”). The 2023 Proposal, which focuses on enhancing the protection of virtual asset investors, shall be finalized in the plenary session of the Korean National Assembly. The 2023 Proposal introduces the following key points to enhance investor protection: During the approval process, the Korean National Policy Committee also adopted
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