In drafting and negotiating a Korean commercial agency agreement between a principal located in one country and an agent located in Korea, proper consideration needs to be given to the choices regarding the governing law and jurisdiction of such an agreement. If you are looking for an article on choice of law issues in Korean employment disputes, please see: Choice of Law Issues in Korean Employment Law Disputes. If you are looking for a basic overview of Korean Agency &
Continue readingTag: Korean Distribution Law
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
Continue readingDistribution 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
Continue readingKorean 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
Continue readingKorean 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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