The Korean Law Blog

Lessons in Succeeding in Business in Korea by Senior Adviser to IPG

noreply@blogger.com (Sean Hayes) — Thu, 16 Feb 2012 03:38:00 PST

The most important lesson I learned from the Peace Corps was an inner sense of humility. By my naturally contrarian nature, I have mixed feelings about having once been a Peace Corps volunteer in...

Korean Law and Business Updates by Sean Hayes.

Korea Divorce Checklist for Negotiation of a Marital Separation Agreement in Korea

noreply@blogger.com (Sean Hayes) — Fri, 10 Feb 2012 01:40:00 PST

The following Korea divorce checklist may be useful for those negotiating a marital separation agreement in Korea. We highly recommend the utilization of a marital separation agreement, since the...

Korean Law and Business Updates by Sean Hayes.

Korea Leading the World in Aggressive Regulation of Game Use by Children

noreply@blogger.com (Sean Hayes) — Thu, 09 Feb 2012 14:54:00 PST

Children in Korea, under the age of 17, are prohibited, according to a recent law, to be provided access to online games between midnight and 6AM. The law has forced online providers of games to...

Korean Law and Business Updates by Sean Hayes.

Korea Corporate Governance: One of the Worst in World According to Economist

noreply@blogger.com (Sean Hayes) — Thu, 09 Feb 2012 14:26:00 PST

What is the cause of the Korean discount? An economist article hits the nail right on the head. So what is the source of the “Korea discount”, which means that the KOSPI has a forward...

Korean Law and Business Updates by Sean Hayes.

Will Korea Impose a New Capital Gains Tax on Stocks?

noreply@blogger.com (Sean Hayes) — Tue, 07 Feb 2012 05:06:00 PST

The ruling party in Korea, because of recent popularity in bashing the "rich," has proposed a new tax on capital gains on stocks. Many of us that assist investment companies in Korea are very...

Korean Law and Business Updates by Sean Hayes.

North Korea Amends Foreign Investment Law

noreply@blogger.com (Sean Hayes) — Tue, 31 Jan 2012 23:19:00 PST

In a move to attract more investment from abroad, North Korea has amended the foreign investment law. The amendment has been reported by the North Korean main news agency. The details...

Korean Law and Business Updates by Sean Hayes.

IPG Member of International Association of Entertainment Lawyers

noreply@blogger.com (Sean Hayes) — Wed, 25 Jan 2012 05:07:00 PST

IPG attorney KS Chong is one of the leading lawyers in Entertainment Law in Korea. He represents one of the leading entertainment businesses in Korea and many international artists and...

Korean Law and Business Updates by Sean Hayes.

Tax Exempt Foreign-Denominated Bonds in Korea Coming to an End for Holders with Offices in Korea

noreply@blogger.com (Sean Hayes) — Tue, 24 Jan 2012 20:11:00 PST

Some bad news for the Korean bond market. A law passed in 2011 entitled the Special Tax Treatment Control Law of Korea makes, for many investors, the Korea bond market much less attractive when...

Korean Law and Business Updates by Sean Hayes.

Mastering Business in Korea: A Practical Guide by IPG's Senior Commercial Adviser

noreply@blogger.com (Sean Hayes) — Sun, 22 Jan 2012 19:57:00 PST

IPG is proud to, again, recommend a book written by the Tom Coyner a Senior Commercial Adviser for IPG. The following is recommendations from the foreward to Mastering Business in Korea: A...

Korean Law and Business Updates by Sean Hayes.

Happy Year Of the Dragon from IPG's Korea Practice Team

noreply@blogger.com (Sean Hayes) — Fri, 20 Jan 2012 05:55:00 PST

IPG is engaged in projects for companies and entrepreneurs doing business in Bangladesh, Cambodia, China, Korea, Laos, Myanmar, the Philippines, Vietnam and the U.S. www.ipglegal.comNew York...

Korean Law and Business Updates by Sean Hayes.

Political Asylum Granted in U.S. to Former South Korean Intelligence Agent

noreply@blogger.com (Sean Hayes) — Thu, 19 Jan 2012 06:48:00 PST

A U.S. court has, recently, upheld a decision to grant political asylum to a South Korean former intelligence agent that revealed that the former Korean Dae-Jung KIM Administration paid a USD 500...

Korean Law and Business Updates by Sean Hayes.

South Korea to Buy Yuan-Denominated Assets

noreply@blogger.com (Sean Hayes) — Thu, 19 Jan 2012 00:36:00 PST

Heung-sik CHOO, director-general of the Bank of Korea (BOK) stated to Bloomberg that the BOK may purchase RMB-denominated (Chinese yuan) assets. The news may trigger most Asian economies to...

Korean Law and Business Updates by Sean Hayes.

Amendments to the Korea Trust Act of 1961

noreply@blogger.com (Sean Hayes) — Wed, 18 Jan 2012 07:51:00 PST

The 1961 Korea Trust Act has been criticized as being an archaic law that does not reflect generally accepted international trust standards and practices. The revised trust law was passed to...

Korean Law and Business Updates by Sean Hayes.

China Rejects North Korea Law on Developing of Two Border Islands

noreply@blogger.com (Sean Hayes) — Wed, 18 Jan 2012 02:29:00 PST

The tension between North Korea and China is rising. China has rejected a proposal by North Korea to jointly develop two islands on the border of China and North Korea. The islands are at...

Korean Law and Business Updates by Sean Hayes.

Understanding the Korea-U.S. Alliance by Tom Coyner

noreply@blogger.com (Sean Hayes) — Tue, 17 Jan 2012 06:34:00 PST

Given that it has been almost a year without significant anti-American demonstrations, this may be a good time to disclose some surprising realities in United States-Korea relations. Otherwise, in...

Korean Law and Business Updates by Sean Hayes.

Korean Laws and Subordinate Statutues in English Online

noreply@blogger.com (Sean Hayes) — Tue, 17 Jan 2012 05:59:00 PST

The most complete site for access to Korean statutes in the English language is the Korean Legislative Research Institute. The Korean Legislative Research Institute is a government-funded...

Korean Law and Business Updates by Sean Hayes.

Return of Fraudulently Obtained Subsidies by Employer in Korea (Employer Urgent Update)

noreply@blogger.com (Sean Hayes) — Mon, 16 Jan 2012 08:26:00 PST

The Seoul Administrative Court ruled, late in 2011, that the provision of the Enforcement Decree of the Employment Insurance Act (article 56(2)) requiring the return by an employer to the Korean...

Korean Law and Business Updates by Sean Hayes.

Korean Economy Ranked as a Moderately Free Economy by Heritage Foundation

noreply@blogger.com (Sean Hayes) — Sat, 14 Jan 2012 03:53:00 PST

South Korea has ranked a mediocre 69.9 (moderately free) behind major regional allies and behind nearly 30 countries that are "free" or "mostly free." Korea ranks, rightfully, very low in the...

Korean Law and Business Updates by Sean Hayes.

Antitrust/Competition Consent Orders in Korea

noreply@blogger.com (Sean Hayes) — Fri, 13 Jan 2012 22:31:00 PST

Late last year the Korean National Assembly passed, along with the Korea-U.S. FTA and related bills, a law that will allow the Fair Trade Commission of Korea (KFTC) to accept consent orders. Consent...

Korean Law and Business Updates by Sean Hayes.

Korean Tax Tribunal on the Adjustment of Value of Imported Goods and Transfer Pricing

noreply@blogger.com (Sean Hayes) — Fri, 13 Jan 2012 00:45:00 PST

Late last year the Korean Tax Tribunal ruled that the "Customs Value" shall not be effected by a "Transfer Price Adjustment." The holding will make it more difficult for those importing products...

Korean Law and Business Updates by Sean Hayes.

Korea's Starting a Company in Korea: Read:Economic Forecast by the European Chamber of Commerce in Korea and SERI

noreply@blogger.com (Sean Hayes) — Thu, 12 Jan 2012 06:05:00 PST

The European Chamber of Commerce in Korea published a great article by Mr. Chang-mok SHIN of the Samsung Economic Research Institute. The article is very useful for companies wishing to...

Korean Law and Business Updates by Sean Hayes.

The Signs of a Great Criminal Lawyer in Korea

noreply@blogger.com (Sean Hayes) — Tue, 10 Jan 2012 21:29:00 PST

There are few great criminal lawyers working in Korea, because of the nature of the Korean criminal justice system and other realities. In Korea, in all cases, where you are accused of a crime...

Korean Law and Business Updates by Sean Hayes.

Criminal Lawyers in Korea: Who to Hire - Who Not to Hire?

noreply@blogger.com (Sean Hayes) — Tue, 27 Dec 2011 23:55:00 PST

In all cases, in Korea, where you are accused of a crime and you fear that you may be sentenced to time in jail, may be deported or the conviction may harm your future, hire, quickly, an experienced...

Korean Law and Business Updates by Sean Hayes.

Merry Christmas from IPG Legal

noreply@blogger.com (Sean Hayes) — Mon, 26 Dec 2011 04:16:00 PST

IPG wishes all its clients, friends and followers of our Korean Law Blog, China Law Blog and Asian Law Blog a Merry Christmas. IPG will be closed from December 23, 2011 to December 27, 2011 for...

Korean Law and Business Updates by Sean Hayes.

Christmas in Korea: Do we Put Christmas Lights on House Plants?

noreply@blogger.com (Sean Hayes) — Sun, 18 Dec 2011 16:31:00 PST

One of our senior advisers (Tom Conyer) and his wife (Yeri) hosted a wonderful Christmas party in Seoul last night where we trimmed the tree. This is a rare occasion to see me in casual attire...

Korean Law and Business Updates by Sean Hayes.