Korean Prosecutors & Police Powers under Amended Criminal Procedure Law

One of the most substantial changes in the powers between the Prosecutors’ Office and Police Office was enacted by the Korean National Assembly through amendments to the Korean Criminal Procedure Act and Prosecutors’ Office Act. These Amendments were made to the Criminal Procedure Act of Korea and the Prosecutors’ Office Act of Korea that shall take effect in 2021. The Amendment reduce the power of the Korean Prosecutions to initiate investigations in certain types of cases, while expanding the powers

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Korea emerges as an Arbitration Hub in East Asia

With several major international companies now calling Seoul home and many international construction contracts choosing Seoul as the venue for arbitration, international arbitration matters are on the rise in Korea. American, Australian, British, Chinese, Indian, German have expanded their interest in the growing Korean market. International conglomerates in Korea have long understood the value of the arbitration process. Regrettably, few Korean attorneys are capable of handling international arbitration cases in the English language, because of the lack of experience in

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Last week’s Recap of the Top Legal Headlines in South Korea for the week of August 9, 2021:

Samsung leader Jay Y Lee wins parole from prison South Korean school teacher sentenced in Bitcoin assault case Korean politicans to amend sex crime laws criminalising semen terrorism Press freedom to nose dive after Korean parliament introduces fake news bill Former government official wins discrimination case against Korean government 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

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International Arbitrations in Korea under the IBA Rules

Procedural Arbitration rules are key to the efficient and effective adjudication of arbitration disputes in Korea and, also, worldwide.  These arbitration rules govern and set out the framework for the arbitration process. Evidence gathering and presentation are important aspects of the above procedure, and yet, institutional and ad hoc rules that provide arbitration guidelines on other matters such as the appointment of arbitrators and the nature of award and costs are, usually, silent on this point. Advantages of such a

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Last week’s Recap of the Top Legal Headlines in South Korea for the week of August 2, 2021:

Korean Telecos winning the war against Netflix in the streaming battle New Fake news law set to damage press freedom FTC investigates Korean Bar Association over law talk ban Supreme Court upholads fine for Nissan Korea Korean government to compensate nurse paralysed by COVID shot 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

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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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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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Korean Tax Law Amendments for Individuals for 2021

The Korean National Assembly passed a proposal by the Ministry of Economy & Finance and the Ministry of Interior & Safety related to Taxation of Businesses and Individuals in December of 2020. The Amendments shall take effect in 2021. The following is a summary of the major amendments to Korea’s Tax Code and regulations related to individuals in 2021. For an article on Taxation for Corporations please see: Korean Corporate Tax Law Amendments for 2021. 1. Amendment to Administrative Fines

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New Korean Corruption Investigative Unit Established to Investigate High-Ranking Public Officials in Korea

Korean established a new investigative unit with the independent power to investigate High-Ranking Public Officials, family members of High-Ranking Public Officials and those associated in alleged crimes with High-Ranking Public Officials. This office shall be called the Corruption Investigation Office (“CIO”) for High-Ranking Public Officials. This independent investigative agency’s scope of power includes the investigation of the President of Korea, members of the Korean National Assembly, prosecutors, judges, senior public officials (Rank of Grade III or higher) and some senior

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Korea’s Virtual Assets/Cryptocurrency Law

For those who may not know, cryptocurrencies/virtual assets (the best known of them, at the moment, is Bitcoin), are digital representations of value that can be digitally traded or transferred. When holders are using these currencies the transaction, in short, the use is via Blockchains (in short, a decentralized databases). South Korea has been at the forefront of the global cryptocurrency boom and its spread has permeated through all levels of society. Statistics from 2017 show that more than one third

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Employment Support for Disabled Soldiers in the Line of Duty as per the Amended Korean Act on the Management of Civilian Personnel in the Military Service 2019

The bill on the Amendment to the Korean Act on the Management of Civilian Personnel in the Military Service (hereinafter as “Amendment to the Act on Civilian Personnel in the Military Service” or “Act”) was passed by the Korean National Assembly on March 28, 2019. The Act is intended to improve the financial and work-related recovery of Korean military soldiers, which are disabled by an injury during military service. History and Legal Background to the Amendment to the Act on

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Leading Commercial Arbitration Law Firm in Korea

IPG is one of the leading Korean law firms retained for international arbitration matters by multinational companies in need of efficient, proactive and non-conflicted advocacy in Korea, North America and East Asia. IPG was recently ranked as a top Dispute Resolution Law Firm. We work on complex international commercial arbitration disputes, investor-State arbitration disputes, construction arbitration disputes, and a myriad of other commercial disputes for international companies doing business in Korea and/or with Korean companies. Locally Connected – Globally Experienced:

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The Korean Corporate Restructuring Promotion Act of 2018: Korean Insolvency Law Updates

The recently enacted Korean Corporate Restructuring Promotion Act (hereinafter as “CRPA”) focuses on facilitating “…constant corporate restructuring and promotes the stabilization of financial markets and the development of the national economy, by providing for matters necessary to promptly and efficiently implement corporate improvement of enterprises with signs of insolvency.” (Art 1 (Purpose) CRPA). The CRPA is intended to facilitate out-of-Korean-court restructuring procedures. Often, debtors prefer out-of-court proceedings over in-court proceeding, because the belief that out-of-court proceedings shall lead to more

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Korea Establishes Legal Grounds for the Commercialization of Autonomous Vehicles – A New Act for 2020

Proposed by the Chair of the Land, Infrastructure and Transport Committee on April 4, 2019, the Act on Promotion and Support of the Commercialization of Autonomous Vehicles (hereinafter as “Korean Act on Autonomous Vehicles”) aims to set forward legal grounds and a legal framework for projects of domestic and foreign companies, who focus on the development of autonomous or self-driving vehicles with the goal of the successful commercialization in Korea and abroad. The aforementioned Act shall become effective one year

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Amendment to the Korean Foreign Investment Promotion Act 2019 – Investment Incentives in Korea

The Korean Foreign Investment Promotion Act (hereinafter as “FIPA”) is intended to support foreign investment in Korea by providing investment incentives to investors in the Korea market. The Korean National Assembly amended the FIPA this year. Key-facts about the Korean FIPA The Korean FIPA shall “…promote foreign investment in Korea by providing necessary support and benefit and to contribute to the sound development of the nation’s economy.” (FIPA Art. 1). FIPA may benefit foreign investors, including, individual investors, companies established

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Revision to the Laws & Regulations on Ecosystem-Disturbing Species in the Republic of Korea in 2019

In order to increase the control on certain species like ‘ecosystem-disturbing species’, which are considered to be harmful to the ecosystem of the Republic of Korea, when it is planned to import and introduce them to the ecological environment of Korea, the Chairman of the Environment and Labor Committee proposed the Amendment to the Korean Act on the Conservation and Use of Biological Diversity (hereinafter as “Act on Biological Diversity”) on September 20, 2018. The new provisions of the Amendment

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Korea Fully Legalizes the Usage of LPG as a Fuel for Vehicular Transportation

The Amendment to the Korean Safety Control and Business of Liquefied Petroleum Gas Act (“Liquefied Petroleum Gas Act” or “Act”) was proposed by the Korean Chair of the Trade, Industry, Energy, SMEs and Startups Committee on March 13, 2019 and shall become effective upon promulgation. The aforementioned Amendment enables the use of liquefied petroleum gas (“LPG”) as a fuel for vehicular transportation in the Republic of Korea via elimination of the restrictions on the use of LPG in vehicles. The

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National Database of Training Programs for Overseas Medical Service Workers in Korea

The National Assembly of the Republic of Korea recently passed the bill Amending the Act on Support for Overseas Expansion of Healthcare System and Attraction of International Patients (hereinafter as “Amendment to the Act on Overseas Expansion of Healthcare”), which major goal is to establish and operate a national database of medical training programs for foreign medical service workers. The Amendment shall be in force at the end of 2019. History of the Korean Act on Overseas Expansion of Healthcare

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Korean Inheritance Law: Who Inherits What, When & How in Korea?

If a decedent, governed by Korea’s Inheritance Law, dies without a will (intestate succession) the estate of decedent shall pass according to Korea’s Intestate Succession Law.  The key points of Korean Intestate Succession Law and Korean Inheritance Law is noted below.  We deal with many cases, at our law firm in Korea, where a Korean family member requests a U.S. or European family member to disclaim an inheritance.  Normally, a form is provided to the foreign family member.  We suggest

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English-speaking Korean lawyers and International Lawyers at International Law Firm in Korea discussing issues of Korean Law

IPG Legal is a leading client-focused international law firm with offices in Korea that is, often, selected over the ubiquitous Korean Law Firms when success is essential and success depends on nuanced street-smart advice, proactive  and unconflicted representation. Our attorneys are, intentionally. different from the crowd.  From our retired judge partners to our junior associates, we are all trained with an intense focus on client success, lawyer proactivity, and to understand the nexus between your commercial and legal needs. Our attorneys

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