Amendment to Korea’s Occupational Safety and Health Act in 2019

The amended Occupational Safety and Health Act of Korea (hereinafter as “OSHA”) entered into force on January 15, 2019. One major aspect of the revision is that it has raised the risk of liability of representatives of institutions and companies and companies for workplace industries in Korea. The amended Korean OSHA law is expected to increase the risk to company management, increase liability of companies and increase options for employees that are perceived to have been harmed because of the actions or inaction of employers. Korean OSHA Basics Importer or Manufacturer of harmful and/or dangerous chemicals should draft a Material Safety Data Sheet and send it to the Ministry of Employment & Labor for approval. The Material Safety Sheet is publicly published – in most cases. Hazardous work shall not be contracted out by companies to third parties. However the amendment provides some notable exceptions (beyond the scope of this

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Succeeding in Business in Korea

Since 1977, I have observed the rise and fall of many foreign companies in South Korea. I have witnessed the trials and tribulations as a bank employee, a high-tech salesman, a country manager and as a business consultant of foreign and Korean companies doing business in Korea . Bluntly speaking, while some foreign ventures have had some unlucky breaks, those companies that have succeeded in the Korean market have done so for good reasons.  And those who have failed have done so, largely, because of their own inadequacies and often the lack of understanding of the needs of businesses in the Korean market. Those companies who for a period “succeed” do so by largely having some kind of a monopoly in technology, a lock on a particular resource, or an overwhelming marketing advantage that makes Korean copycats look decidedly second class.  But many initially successful companies ultimately fail by not getting adequately

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Starting a Company in Korea: Establishing a Foreign Capital-Invested Korean Company, Branch or Liaison Office

Korea, for many business, is an excellent market to enter.  We assist numerous franchisers, tech companies, chemical companies, oil & gas companies, automotive suppliers, defense companies and basic manufacturing companies on compliance and contentious issues related to their business in Korea.  We, also, assist entrepreneurial individuals in establishing and doing business in Korea. To establish a company in Korea, there are, in short, three legal manners for a foreign company or individual to do business in the Korean Market.  A business may enter as a Foreign Capital-Invested Company (Foreign Direct Investment Company)a Branch or Liaison Office.  In most situations, the most suitable manner to enter the Korean market is via the FDI Company route in order to avail of certain favorable tax treatments, not expose the foreign entity to liability, easier remittance of profits and easier processing of visas. However, many exceptions to this general rule do exist.  The basics

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Leading Attorneys in Korea: Sean Hayes One of Only Two Non-Koreans on List of Top Lawyers in South Korea

We are proud to announce that Sean Hayes has recently been listed by Asia Law as one of the top  attorneys working in South Korea. Leading Lawyers/Law Firms in Korea by AsiaLaw. Sean Hayes, IPG Legal Yong Seok Ahn, Lee & Ko Heejae Ahn, Yoon & Yang LLC Jay Ahn, Kim & Chang Henry An, Samil PricewatersCoopers Woo Hyun Baik, Kim & Chang Chad Chang Hoon Lee, Muhann Patent & Law Firm Yong-Jae Chang, Lee & Ko Tae Yeon Cho, Cho & Partners Young Joon Cho, Bae Kim & Lee Young Sun Cho, Yoon & Yang LLC J H Choi, Choi & Kim Jae Seong Choi, Barun Law Kyung Joon Choi, Kim Chang & Lee Woo Young Choi, Hwang Mok Park Hyunseok Choi, You Me Patent & Law Firm Won-Hyun Choi, Kim Choi & Lim Won Sik Choo, Lee & Ko Eui Jong Chung, Bae Kim & Lee Kye Sung

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