Category: General Practice

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Like many other countries, South Korea has its own merger notification & competition review regimes.  This means if your M&A deal involving a Korean company or business meets the merger notification thresholds prescribed in the rules of the Korean competition authority, you need to make a merger filing. And your transaction becomes subject to the authority’s competition review.  Thus, it is imperative that the dealmakers should be fully advised on the Korean merger filing rules for the applicability and for any potential risks.

Korean M&A Regulatory Law and Agency

In Korea, the Monopoly Regulation and Fair Trade Act (MRFTA) regulates the M&A and other similar transactions.  The MRFTA appoints the Korea Fair Trade Commission (KFTC) as the regulatory agency that is in charge of receiving the pre-merger notification and carrying out the competition review.

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When you enter into an endorsement agreement with a celebrity in order to advertise your products and services, the overall behavior of that celebrity impacts the value and reputation of your business positively, and sometimes negatively. Therefore, most endorsement agreements with a celebrity or a sports star have a so-called Morals Clause.

What is a Morals Clause?

The morals clause imposes a contractual obligation for the models not to cause any harm to the public image of the sponsor or the brand owner.  It is the same in South Korea. 

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Living abroad is stressful. Suffering injury by accident in a foreign country would be one of the worst cases you don’t even want to imagine. Our office is providing legal advice and representation for foreign victims to seek damages in various types of accidents.

In this article, our personal injury lawyer in Seoul, Korea explains what you need to know about the personal injury lawyers in Korea and what you can expect from them.

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그림 2[Updated on March 20th, 2020] In South Korea, the immigration office may remove or deport from South Korea any person who violated the Immigration Control Act(“ICA”).  Any person who is released after receiving a sentence of fine, imprisonment or heavier punishment could be removed from Korea by an exit or a deportation order pursuant to ICA.  In this article, we will provide a general overview of an exit and deportation order under Korean immigration law. (more…)

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Q) I would like to enquire about a situation of a director working at a Korean subsidiary (corporation) of U.S. company, who has secretly started a similar trade of business while still in employment with his current employer.  Having served in a managerial position, he has access to his employer’s full clientele’s information, trade secret and now he started the same business as his employer, directly causing many economic losses to his employer.  Is there any way legally to prevent the person from causing further damages?  

A) Under Korean law, a director of a corporation bears a fiduciary duty.  Thus the directors shall perform their duties in good faith for the interest of the company. Their activities shall not violate the statutes and the articles of incorporation of the company. (more…)

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[Updated: May 6, 2020]

There was a news report that more than half of the foreign workers in South Korea are not aware of the fact that they can claim for the severance pay.   Yes, Korean labor law recognizes severance pay.  It is being regulated by the Guarantee of Workers’ Retirement Benefits Act(“GWRBA”).  In this article, we will provide you a guide to the general ideas of how severance pay works, who gets it and how much in Korea. (more…)

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[Updated on February 10th, 2020] We have been frequently asked about getting divorced in Korea as foreigners.  In this article, we provide you with the most essential information about divorcing in Korea.

Can Foreigners Get a Divorce Decree from the Korean Court?

Yes, Korean divorce law doesn’t treat foreigners differently.  Foreign spouses who married Korean citizens and even foreign spouses who married non-Korean citizens can divorce in Korea.

One thing to note is the Korean courts’ rule of jurisdiction which applies to international divorce.  Generally speaking, the Korean court will accept a divorce filing when the other spouse, i.e. the respondent, resides in Korea.

There is an exception to this.  In certain situations, the foreign spouse can get a divorce decree from the Korean court even when (more…)

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“I am an adoptee from South Korea to the U.S. Currently I live in the U.S.  Recently I found my biological parents died in South Korea.  He is survived by his wife and 2 sons.  He had businesses in Korea.  Can an adopted child inherit from biological parents in Korea?  I have never met or spoken to his wife and sons and so I don’t know if he had a will written.  What are my inheritance rights under Korean law?”

Everything Boils Down to Whether it is Full Adoption or Simple Adoption

A legal child is entitled to inheritance from his/her deceased parent. When the child is adopted, some jurisdictions treat the adoption as disconnecting the legal relationship with the biological parent, and some jurisdictions don’t. We call the former as a full adoption and the latter as a simple adoption.

As you can understand from the general idea of inheritance, an adopted child can inherit from biological parents in Korea only when the adoption is regarded as (more…)

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We are taking about a situation where a foreigner is accused of any crime in Korea but he has already left Korea for any reason.  Some might come back to Korea to defend himself or some might just ignore it.  However, just ignoring can’t free you from the potential legal risk.  You won’t be allowed to enter into Korea and could be arrested at the border.  Recently, Korean Police is very active in requesting the INTERPOL to issue a red notice in order to have law enforcement worldwide locate and provisionally arrest the suspect.

Then can a foreign suspect resolve a pending criminal investigation case while staying abroad?  The answer is yes, but in a very exceptional case.  The Korean prosecutors are having a strict position that all suspects must appear at the face-to-face interrogation with the investigating authority.  If the suspect refuses to do so or the Korean prosecutor can’t locate the suspect, the prosecutor suspends the investigation and asks the court to issue an arrest warrant.  This warrant is noticed to the Korean immigration office.  As a result, the suspect could be arrested when s/he passes the Korean border.  Being abroad are usually insufficient as a just excuse.

There are, however, certain exceptions where the criminal case can be resolved without the suspect’s personal appearance: (more…)

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Q) I’m an American and my wife is Korean. She is living in Korea and I have returned to the USA. We have agreed to divorce. However, I can’t go back to Korea just to sign the papers. Is it possible to have her do it? Or have her email me the divorce agreement for me to sign and return to her? I just want to know how to divorce when the spouse doesn’t live in Korea.

Spouses Can Live in Different Country to File for Divorce in Korea

In general, the Korean court requires at least one spouse to reside in Korea in order to process the divorce filing. Thus, the fact that one spouse resides in a foreign country doesn’t bar a spouse living in Korea to file for divorce. The issue, however, lies in a procedural matter.

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