Many foreigners, both companies and individuals, seek our advice on how they can effectively collect debts from debtors with assets, businesses and/or residences in Korea. The following article details the major means of collecting on a debt in Korea. Collecting a Debt in South Korea from a Korean Debtor Hire an Experienced English-Speaking Korean Law FirmIt is crucial that you hire a Korean law firm with experience in collecting on debts for non-Korean or foreign-capital invested companies. Not all lawyers
Continue readingTag: Provisional Attachments
Does a Korean court have the power to issue a preliminary attachment on Korean assets stemming from a foreign court claim?
A situation often arises when a plaintiff is suing a Korean debtor in a foreign court and the non-Korean plaintiff wishes to attach the Korean-based assets of the Korean defendant in Korea. Typically, the plaintiff found no assets of the defendant abroad and fears the disposal of the assets in Korea. Thus, typically, the plaintiff wishes to file to a Korean court a request for a provisional attachment of the assets of the prospective defendant. While, provisional attachments of assets of Korean
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