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News & Analysis

Recent Developments Regarding Attorney-Client Privilege in Korea

12 July 2024 by Lee & Ko - South Korea

Attorney-client privilege has once again become a controversial topic in Korean legal practice as there have been reports that in recent criminal investigations, the Korean police and prosecutors have seized confidential attorney-client communications, even those under the custody of attorneys.

News & Analysis

KFTC Issues Administrative Notices for Merger Guidelines - to Implement Voluntary Commitments System and Reflect MRFTA Amendments -

01 July 2024 by Lee & Ko

KFTC Issues Administrative Notices for Merger Guidelines - to Implement Voluntary Commitments System and Reflect MRFTA Amendments -

News & Analysis

Concretizing Rights of Data Subjects in the AI Era - Implementation of the Second Amendment to the Enforcement Decree of PIPA

21 May 2024 by Lee & Ko

Following the amendment of the Personal Information Protection Act (promulgated on March 14, 2023, the Amended PIPA), the second amendment to its Enforcement Decree (the Second Amended Enforcement Decree) went into effect on March 15, 2024.

News & Analysis

MRFTA Amendments on Expansion of Merger Notification Exemptions and Introduction of Commitment Procedures for Merger Control

02 February 2024 by Lee & Ko

On January 25, 2024, the Korea Fair Trade Commission (KFTC) proposed amendments (Amendments) to the Monopoly Regulation and Fair Trade Act (MRFTA) were approved by the National Assembly of Korea.

News & Analysis

KFTC proposes ex-ante regulation of platforms under the “Platform Competition Promotion Act”

02 January 2024 by Lee & Ko - South Korea

On December 19, 2023, the Korea Fair Trade Commission (“KFTC”) announced its proposal to enact the “Platform Competition Promotion Act” (“PCPA”) for ex-ante regulation of platforms by designating “dominant platform operators.”

News & Analysis

Shareholders’ Contractual Rights in Korea’s Rehabilitation Proceedings

04 December 2023 by Jipyong - South Korea

In a recent case concerning shareholders’ contractual rights in rehabilitation proceedings, Korea’s Supreme Court held that a contract which grants the shareholders the right to consent

News & Analysis

KFTC Issues Advance Notice on Amendment of Merger Review Guidelines

24 November 2023 by Lee & Ko - South Korea

Improvement of merger review process focusing on reflecting characteristics of the digital sector

News & Analysis

Guidelines on Foreign Exchange Business of Foreign Financial Institutions

13 November 2023 by Lee & Ko - South Korea

On October 18, 2023, the Guidelines on Foreign Exchange Business of Foreign Financial Institutions (the Guidelines) were established and implemented to open the domestic foreign exchange market to the outside world.

News & Analysis

Amendments to the Financial Investment Services and Capital Markets Act: New Sanctions Against Unfair Trading Activities

06 November 2023 by Jipyong - South Korea

On September 25, 2023, Korea’s Financial Services Commission (“FSC”) announced a legislative notice for a proposed amendment to the Enforcement Decree of the Financial Investment Services and Capital Markets Act (the “FSCMA”).

News & Analysis

MOJ Announces Amendments to the Korean Commercial Act to Reinforce Regulations on Corporate Governance and Protection of Shareholders

10 October 2023 by Jipyong - South Korea

On August 24, 2023, the Ministry of Justice (the “MOJ”) announced partial amendments to the Commercial Act of Korea to bolster regulations on corporate governance and protection of shareholders.