Korea’s Class Action Law Proposed by Moon Administration

Class action lawsuits in South Korea are currently available in two types of civil cases: (1) under the Securities-Related Class Action Act of Korea (derivative/shareholder suits); and (2) in certain limited product liability matters under the Consumer Act of Korea. A bill that seeks to expand the scope of class actions into other areas, aside from the two instances above, has languished for years in the Korean National Assembly. However,

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Class Action/Mass Tort Actions in Korea

Plaintiffs in Korea, with rare exceptions, are unable to file class action lawsuits in Korean courts.  The, only, two exceptions are under the Securities-Related Class Action Act of Korea (derivative/shareholder suits) and certain limited product liability claims under the Consumer Act of Korea (Suits by designated consumer advocacy groups or organizations). However, because of a recent massive data leak by major Korean-based banks, numerous NGOs, some attorneys and legislators have,

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