Showing 1 - 9 of 9 for "" with applied filters
07 November 2022 by
With the looming energy crisis in Europe reviving nuclear power plants globally , new light has been shed on the role of nuclear power in pursuit of achieving carbon neutrality by 2050.
04 October 2022 by
While the global economy is suffering from COVID-19 related recession and political unrest, the construction industry has been hit especially hard by surging prices of materials and wages. Subcontractors in particular are suffering huge losses. To cushion the harsh blow to contractors and subcontractors, the Korean government has introduced a mechanism called “Supply Cost Linkage System” effective September 2022. Through this system, increases in raw material prices can be automatically reflected and incorporated into construction costs. This system, however, is not mandatory under the current law, and several bills to amend the Fair Transactions in Subcontracting Act (the “Subcontracting Act”) are being introduced one after another.
05 September 2022 by
Corporations often turn to arbitration to manage risks of being hauled into unfamiliar national courts and unpredictable laws. An often overlooked consequence of choosing arbitration is that available discovery may be limited, as a trade-off to efficiency and cost-saving. But in many civil law jurisdictions such as South Korea, discovery practice may be more limited than arbitral proceedings seated in common law jurisdictions or governed by their laws. In this regard, discovery in U.S. litigation stands out unparalleled.
01 August 2022 by
The digital asset market was recently hit by the Terra (LUNA) crash and the Celsius withdrawal freeze. It was further shaken by the global economic downturn and austerity measures. With 5.58 million cryptocurrency investors and 1,256 listed cryptocurrencies, and average daily cryptocurrency transactions amounting to KRW 11 trillion, Korea’s KRW 55 trillion digital asset market was hardly unaffected by this crisis. Consequently, the need to enact laws on digital assets has become ever more crucial.
04 July 2022 by
The latest amendments to Korea’s Criminal Procedure Code (the “CPC”) and the Prosecutors’ Office Act (the “POA”), intended (among others) to limit the prosecution’s power to conduct investigations directly, was passed by the National Assembly on May 9, 2022 and is scheduled to come into effect on September 10, 2022. Some of the key amendments, as well as the answers to some frequently asked questions (FAQ) on such amendments, are provided below.
15 June 2022 by
The inauguration of Mr. Suk-yeol Yoon as the twentieth president of the Republic of Korea took place on May 10, resulting in a shift in governing party from the Democratic Party to the People Power Party. It is anticipated that this political shift will bring about changes in various public policies.
09 May 2022 by
On March 3, 2022, a new “Easy-to-Understand Manual on Consent for Personal Data Processing” (the “Manual”) and “Guideline for Writing Privacy Policies” (the “Guideline”) were published by the Personal Information Protection Committee of Korea (the “PIPC”).
14 February 2022 by
Press Release by Jipyong - South Korea
05 August 2020 by
asialaw's Lawyer of the Month for July 2020 is...