Establishing Business with Korea via an Agent: Korean Agency Law Basics

For some companies wishing to establish business with Korea, the use of a commercial agency relationship may be an ideal way to establish your business presence in Korea. However, this type of agreement comes with risk. Please see: Termination of an Agency Agreement in Korea. https://www.thekoreanlawblog.com/2020/08/distribution-agreement-termination-korea-law.html An agent relationship is often ideal when a company seeks to sell its products in Korea, but wishes to first evaluate and familiarize itself with the Korean market prior to establishing a distributorship relationship

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Drafting of Korean Distribution Agreements for your Distributor in Korea.

Drafting of a Korea-centric distribution agreement and a good deal of due diligence of the anticipated distributor/agent is necessary for avoiding issues that may require the litigation services of a law firm. Some of the articles posted by IPG Legal on Due Diligence may be found at: Doing Business in Asia: Due Diligence, Agreements, Attorneys and Street Smarts Listen to My Mother: JVs in Korea (Translated from Korean) Debt Collection Cases in Korea on the Rise: Due Diligence Brother I have

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Distribution Agreements in Korea: Crawl before you Walk

Prior to going into any relationship with a distributor/agent in Korea, please read my post entitled: Finding a Korean Distributor: The Top 10 Things to Know Before Going to Bed with a Distributor in Korea. Please read that post in combination with this post, prior to engaging a distributor in Korea. We see too many Korean distribution and agency agreements that are merely spun U.S. or European agreements.  Please have your Korean distribution agreement and all agreements you have in Korea drafted

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A “Tasty” Exclusive Agent Agreement for Artists & Entertainers in Korea: Entertainment Law Basics in Korea

The Fair Trade Commission of Korea (FTC) created a sample standard-form Exclusive Agent Agreement for Entertainment Agreements, in Korea, that was, recently, challenged by the Chinese Band Twin Duo “Tasty.” The Chinese band filed a lawsuit against the Korean entertainment company – SM C&C – in order to invalidate a 7-year exclusive agent agreement – claiming that because of major differences with the Korean entertainment company, the relationship between the parties was frustrated.  SM utilized a standard-form agency agreement that

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Korean Distributor Sales Territory or Customer Restrictions in Korea: Korean Distributor law Agreements in Korea

Korea’s Distribution Law is governed, primarily, by the Commercial Code of Korea, Monopoly Regulation and Fair Trade Law of Korea (“FTL”), and the, newly enacted, Fairness in Distributor Transactions Act of Korea. These laws comprise a substantial body of law that is consistently evolving. The main regulatory body enforcing the FTL of Korea is the Fair Trade Commission of Korea (“FTC”). The Fair Trade Laws of Korea, in most cases, creates the most significant risk for suppliers and manufacturers doing

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Korean Jurisdiction and Choice of Law Issues in Korean Agency Agreements

In the drafting and negotiation of a Korean commercial agency agreement between a principal located in one country and an agent located in another country, proper consideration needs to be given to governing law and jurisdiction. For an article on the specifics of Korean agency law, please see: Establishing Business with Korea via an Agent: Korean Agency Law Basics. Jurisdiction determines which country’s courts will hear any proceedings that may be brought in relation to the agreement, whilst governing law

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