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The Korean Supreme Court has recently rendered a judgment highlighting the requirements for Korean courts to accept the service of legal documents, in Korea. In a case involving a dispute…
Korean Cargo Claims under Korean Maritime Law Korea Maritime Law
If you’ve ever wondered how to bring cargo claims under the Maritime Law/Shipping Law in Korea when South Korea is not a signatory to any international conventions governing the shipping…
Termination of a Franchise Agreement in Korea: Korean Franchise Law Basics
The Fair Transactions in Franchise Business Act (“Franchise Act”) and the Fair Transactions in Large Franchises and Retail Business (“LFBA”) are the major laws governing the relationship between a franchisor…
Trademarks Registration in Korea: Don’t Just Trust Us
Our friends over at the China Law Blog have posted on an intellectual property issue that leads to a good deal of work for the IP Litigation Practice at the…
Uncategorized The Korean Law Blog by IPG Legal Law Firm
In Korea, an employment relationship is generally established through an employment contract between the employer and the employee. However, it’s important to note that an employment agreement can be either…
How to Retain an English-Speaking Attorney in Korea by Tom Coyner
There are excellent and ethical attorneys in every country; this is certainly also the case in Korea with Korean attorneys and international attorneys working in Korea. While all are no…
Korean Flat-Tax Rate for Foreign Workers in Korea
The Special Tax Treatment Control Law of Korea extended the benefit of the Flat Tax to 20 years from the present five years. The flat tax rate with the local…
Korean Franchise Law Definition of a Franchise
A franchise, in general, in the Republic of Korea (“Korea”) is a continuous business relationship under which a Franchisor allows a franchisee to use its business marks (trademarks, service marks) to…
Korean Free Trade Agreements: Korean FTA Chart
Free Trade Agreements Executed by the Republic of Korea (“South Korea” or “Korea”) South Korea currently maintains 21 comprehensive free trade agreements with a combined total of 59 countries. The…
Korean Tax Law The Korean Law Blog by IPG Legal Law Firm
Can freelance workers apply for Korean National Pension Deductions when Calculating their income tax? Yes, freelance workers in Korea can apply for Korean National Pension deductions when calculating their income…
The Korean Law Blog by IPG Legal Law Firm
The Serious Accident Punishment Act (“SAPA”) was passed by the Korean National Assembly and came into effect on January 27, 2022. With the implementation and recent expansion of the SAPA,…
Amendment to Korea’s Industrial Accident Compensation Insurance Law
Effective July 1, 2023, the scope of application of the Korean Industrial Accident Compensation Insurance Law was extended to include, also, the protection of those employees in Korea who are…
Dual-Class Shareholdings in Korea: Korean Corporate Law Updates
Prior to the recent amendment to the Special Measures for the Promotion of Venture Businesses Act, Korea was an outlier in the developed world with regard to Dual-Class Shareholdings. Most…
Valid and Enforceable Contracts in Korea: Korean Contract Law Basics
In Korea, contracts are agreements that are legally binding and enforceable under the law. They can be created for a wide range of purposes, such as employment, real estate, intellectual…
Liability of Persons who have Lent their Names
In Korea, the person who is actually the subject of rights and obligations, often differs from the nominee such as the holder of licenses or business registrations. Sometimes those with assets…
Applying for Veteran Disability Benefits from Korea, Japan, and the Philippines
Applying for Veteran Disability Compensation can be a long, stressful and frustrating process especially when you are living abroad. We assist veterans to file for benefits from our offices in…
Korean Common Law Marriage
While the concept of a Korean Common Law Marriage (since Korea has no concept of a Common Law) does not exist, Korea has a similar law to the laws, in…
Korean IP Law The Korean Law Blog by IPG Legal Law Firm
Chat GPT by OpenAI has increased employee productivity and some employers have even incorporated it into their work systems for improved efficiency. However, Chat GPT brings up many legal issues…
Foreigners Divorcing in Korea
Expats without a marriage registered in Korea, can, typically, divorce in Korea. If a marriage is registered in a country recognized by the government of the Republic of Korea, the…
How to Renounce your Korean Citizenship
The Korean National Assembly passed, in September of 2022, a bill to clarify and revise the procedures for the renunciation of Korean citizenship. The revised Korean Renunciation of Korean Nationality…
Korean Extradition Law Explained by IPG Legal
Korean Extradition Law is based on international treaties, Korean jurisprudence, and Korean statutory law. Korea is a party to 78 extradition treaties, including, treaties with the majority of the European…
Korean Forum Non-Convenience Law on Int’l Jurisdiction
The main law that governs international jurisdiction over cases in Korean courts is Korea’s Private International Law Act. A major amendment to the Act became law in July 2022. The…
Korean Statute of Limitations for Unpaid Wages in Illegal Worker Dispatch Cases in Korea
The Supreme Court of Korea ruled in April of 2023 for the first time on the statute of limitation for damages claims based on an illegal dispatch of workers in…
Korean Corporate Tax Rate
The Korean Corporate Income Tax law was amended to lower Korean corporate income taxes for 2023. The amendment is applicable for the year 2023 or until amended. For an article…
Punishment in Korea for Not Paying Korean Child Support
Korea has legal tools in place to punish a person who refuses to pay child support. We advise, if you have a child support order to not sit on your…
Legal Reserve of Inheritance for an Estate in Korea
Korea’s Legal Reserve of Inheritance/mandatory share of inheritance (유류분/遺留分) is a specific portion of an inheritance given to heirs notwithstanding the will. Therefore, for example, even if the will notes that a…
Minimum Capital Requirements for Setting Up a Corporation in Korea
My friend at the Korean Tax Blog has an excellent post on the minimum capital requirement for setting up a company in Korea. The post notes that: Before 2009, Korean…
Korean Constitutional Court Strikes Down North Korean Anti-Pamphlet Law
The Constitutional Court of the Republic of Korea, a court I worked for six years, struck down a law from 2020 that criminalized the spreading of anti-Northern Korean pamphlets into…
Exercising Korean Stock Options in Companies in Korea under the Korean Commercial Code
Stock options, in Korea, are often provided to senior foreign and domestic employees of companies in Korea. For stock options, in non-listed/non-public companies in Korea, to be exercisable by employees…
Renouncing an Estate/Inheritance under Korean Law
A typical matter of a party renouncing an estate in Korea commences when a family member in Korea requests the waiver/disclaimer of the right to a Korean inheritance. In some…
Happy Veterans Day
Wishing all that served their country in the military, a happy and healthy Veterans Day. Similar Posts: Happy Veterans Day Applying for Veteran Disability Benefits from Korea, Japan, and the…
Korean Inheritance Law on Registration of Inheritances in Korea
My friends at The Korean Tax Blog have an excellent post called Your Complete Guide to Estate Registration in Korea. The accounting firm at the Korean Tax Blog assists IPG…
Guide to Winding-Up/Closing a Korea-based Company: Korean Company Liquidation Procedure
Any business in Korea that is registered as a corporation must wind up/liquidate the company to legally close the business in Korea. Many companies, however, choose to forgo this step…
Consideration and the Statute of Frauds Under Korean Contract Law
A contract, in Korea, is still binding on the parties, in most cases, even if the contract contains no consideration. Thus, a mere “gift” that contains no benefit to the…
Collecting an Unpaid Invoice from a Korean Bankrupt Debtor
Before Engaging in a Relationship with a Korean Company 1. Before engaging in any work or giving a Korean company money – please do a little due diligence. Many SMEs…
Korean Exit Bans for Not Paying Taxes, Custom Duties and Violations of Korean Law
The Korean Immigration Control Act and related acts allow the potential to permanently impose an exit ban from Korea on foreigners for nearly all acts that are determined by the…
Top 100 Korean Lawyers & Legal Consultants in Korea
Sean Hayes, head of the Top Korean Dispute Resolution Law Firm of the Year was rated by LawAsia, one of the leading peer-reviewed publications in Asia, as a Top 100…
Korean Labor Standards Act Basics
The Korean Court System has been less reluctant, in recent years, to deem a Korean independent contractor an “employee” under the Korean Labor Standards Act (LSA). This fact remains true…
Korea to Allow Visas for Foreign Restaurant Workers: Korean E-9 Visa Updates
The major Korean and English-language vernaculars announced that non-skilled (e.g. not chefs) foreign workers wishing to work in restaurants shall be allowed to be sponsored for E-9 visas by restaurant…
Korea-Ecuador Free Trade Agreement
The Republic of Korea (“South Korea”) and the Republic of Ecuador (“Ecuador”) executed this month a Strategic Economic Cooperation Agreement. Under this agreement between Ecuador and Korea, South Korea shall…
Is a Bankruptcy in the U.S. “Effective” on Assets in Korea?: Korean Bankruptcy Law Basics
The following article on the interplay between Korean Bankruptcy Law and foreign bankruptcy laws was motivated by a question from a reader from the Korea Times. The following is from…
Forming a Joint Venture in Korea, China & Southeast Asia: Listen to My Mother
My mother often told me, when I was much younger, to look both ways before crossing the street; carry an umbrella in the spring; and don’t go out alone in…
Establishing Business with Korea via an Agent: Korean Agency Law Basics
For some companies wishing to establish business with Korea, the use of a commercial agency relationship may be an ideal way to establish your business presence in Korea. However, this…
Opening & Managing a Bank Account in Korea
My friends at the Korean Tax Blog have an article on some difficulties with banking in Korea. I recommend reading the article. The blog post notes, in part, that: “I…