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News & Analysis

Korean Tax Law and Regulation Updates for 2023

20 February 2023 by Lee & Ko - South Korea

Korea’s latest tax reforms package was approved by the National Assembly in December 2022, with further details made clear by the Presidential Enforcement Decree which was published in January 2023. Before going into the details of the Korean tax reforms for 2023, it is important to consider the wider global context and domestic political context in which these reforms have been made, in order to understand some of the rationale underlying the reforms.

News & Analysis

New Administration Displays Its Strong Will to Promote Digital Health

15 August 2022 by Lee & Ko - South Korea

Further to the 110 national initiatives for the new administration announced on May 3, 2022 (see our newsletter dated May 10, 2022), the government released a more detailed plan to promote digital health on July 27, 2022 (the Plan). The Plan was jointly prepared by the Ministry of Health and Welfare, the Ministry of Economy and Finance, the Ministry of Science and ICT, the Ministry of Trade, Industry and Energy, and the Ministry of Food and Safety.

News & Analysis

Regulation of Digital Assets – Now and Future

01 August 2022 by Jipyong - South Korea

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.

News & Analysis

Anticipated Changes in Fair Trade Policies under the Suk-yeol Yoon Presidency

15 June 2022 by Jipyong - South Korea

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.

News & Analysis

The New Administration’s Policy Outlook for Healthcare/Life Sciences

10 May 2022 by Lee & Ko - South Korea

With the inauguration of Yoon Seok-yeol as the 20th president of Korea scheduled to take place on May 10, 2022, the Presidential Transition Committee (the Committee) announced 110 national initiatives for the new administration (the Initiatives) on May 3, 2022.

News & Analysis

New President-Elect’s Labor Policy Outlook

21 March 2022 by Lee & Ko - South Korea

We summarized some of the key policy proposals of the president-elect in regards to the employment and labor laws of Korea.

News & Analysis

Court Ruling as to the Issue of Internal Control in the Korean Financial Sector

24 September 2021 by Soonghee Lee, Jeongsu Park

In Korea, investors and selling financial companies are in a difficult situation due to the postponement of redemptions of private equity funds from the second half of 2019.

News & Analysis

Malaysia: What constitute good reasons for an order to sell a vessel pendente lite?

16 June 2021 by Rajasingam Gothandapani, Shearn Delamore & Co

This article examines the basis for an order for a sale pendente lite of a vessel that was arrested by a sheriff in in rem admiralty proceedings as security for the plaintiff's claim.

News & Analysis

Malaysia: Summary Judgment in a Gaming Credit Facility Dispute — Star Cruise Services Limited v Chen Teng Fah (2021)

14 June 2021 by Shearn Delamore & Co

In the recent Court of Appeal case of Star Cruise Services Limited v Chen Teng Fah (unreported), Star Cruise succeeded in obtaining summary judgment against a patron to recover a debt pursuant to a gaming credit facility. There have todate been no reported Court of Appeal decisions in respect of the grant of summary judgment on a “gaming” debt matter.

News & Analysis

Outstanding law firm for Client Service Excellence: Q&A with Mr. Jinsu Jeong - Managing partner at Yoon & Yang, South Korea

29 April 2021 by Jinsu Jeong

Yoon & Yang shares the firm's success at delivering client service excellence with asialaw