The Legal 500

39 SAJIK-RO 8-GIL, JONGNO-GU, SEOUL 110-720, SOUTH KOREA
Tel:
Work +82 2 3703 1114
Email:
Web:
www.kimchang.com

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Kim & Chang recognized as top-tier law firm in all areas in Asia Pacific Legal 500 (2010/11 edition)

November 2010

Kim & Chang was recognized in Asia Pacific Legal 500 (2010/11 edition), which is published by Legalease, a leading UK publisher of legal market information, as a top-tier law firm for all 14 practice areas surveyed. Kim & Chang is the only law firm in Korea to receive a top ranking in all surveyed areas.

Kim & Chang was recognized in Asia Pacific Legal 500 (2010/11 edition), which is published by Legalease, a leading UK publisher of legal market information, as a top-tier law firm for all 14 practice areas surveyed. Kim & Chang is the only law firm in Korea to receive a top ranking in all surveyed areas.

Practice areas; Antitrust and competition / Banking and finance / Capital markets / Corporate and M&A / Dispute resolution / Employment / Insurance / Intellectual property / Intellectual property: patents and trade marks / Projects and energy / Real estate / Shipping / TMT (Technologies, Media & Telecommunications) / Tax

In addition, Kim & Chang professionals were selected as leading individuals in each area with a "leading individuals" category:

Banking, finance and capital markets
Young Man Huh, Soo Man Park

Corporate and M&A
K.T. Jung, Dong Min Yoon

Dispute resolution
Sang Ho Han, Byung-Chol Yoon

Intellectual property
Jay (Young-June) Yang

Shipping
Byung-Suk Chung, Jin Hong Lee

Kim & Chang
Seyang Building, 223 Naeja-dong, Jongno-gu, Seoul 110-720
Tel: +82 2 3703 1114
Fax: +82 2 737 9091
Web: www.kimchang.com
Email: lawkim@kimchang.com  

Legal Developments by:
Kim & Chang

Legal Developments in South Korea

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • [South Korea] Major Changes in Environmental Policy in 2015

    Enforcement of the Act on the Registration, Evaluation, Etc. of Chemicals
  • [South Korea] Newly Issued Online Personal Information Processing Guidelines

    By announcing the Online Personal Information Processing Guidelines (the “Guidelines”) on November 12, 2014, the Korea Communications Commission (“KCC”) has further clarified the standards for (1) collecting minimum personal information, (2) destroying personal information, and (3) obtaining consent, as required under the Act on the Promotion of Information and Communications Network Use and Information Protection (the “Network Act”). The Guidelines contain the following key points:
  • [South Korea] Changes to the Presidential Decrees of Tax Laws for 2015

    The Government amended the Presidential Decrees of various tax laws on February 3, 2015. Included below are some highlights:
  • Proposed Legislation for Environmental Pollution Damage Compensation Has Passed National Assembly

    On December 10, 2014, the proposed legislation for the Environmental Pollution Damage Compensation and Recovery Act (the “Environmental Damage Compensation Act”) was passed by the National Assembly by unanimous votes of the present members. This Act will enter into force one year after the date of its promulgation, provided that, however, the obligation to subscribe environmental liability insurance under Article 17 will be enforced 18 months after tis promulgation.
  • [South Korea] Proposed Tax Law Changes for 2015

    On August 6, 2013, the Ministry of Strategy and Finance announced proposed tax law amendments for 2015, most of which would take effect on January 1, 2015 if enacted into law. The main items as currently proposed are summarized below but are subject to change during the National Assembly’s legislative review later this year.
  • [South Korea] Regulations on Subcontracting, Franchising and Distribution to be Amended

    On September 30, 2014, the Korea Fair Trade Commission (the “KFTC”) announced plans to amend regulations regarding the subcontracting, franchise and distribution sectors. In particular, the KFTC identified 12 action items that address the propriety and need for certain rules, and aim to mitigate burdens on industry. The KFTC plans to submit the relevant bills to the National Assembly and finalize the amended Enforcement Decrees by the end of 2014, and to update the subordinate regulations by the first quarter of 2015.
  • South Korea: Court Decisions Since the Supreme Court Rulings on Ordinary Wage

     
  • Court Decision on Collusion Case Regarding Compensation for Commission Rate Tied to Personal Life..

       Court Decision on Collusion Case Regarding Compensation for Commission Rate Tied to Personal Life Insurance Products   Following the Korea Fair Trade Commission (“KFTC”)’s correction order and imposition of administrative fines on December 15, 2011 against 16 life insurance companies for their engagement in unfair concerted action (cartel), consumers that purchased the insurance policies (the “Complainants”) brought a number of civil actions against these 16 life insurance companies.   On April 25, 2014, and on June 27, 2014, the Seoul Central District Court issued judgments on a number of these civil cases in favor of the life insurance companies on grounds that the aforementioned life insurance companies had not been conclusively found to have engaged in unfair concerted action.
  • Essilor’s Proposed Combination with an Optical Lens Maker in Korea is Blocked

    In its press release on March 17, 2014, the Korea Fair Trade Commission (the "KFTC") blocked the proposed acquisition of 50% shares by Essilor Amera Investment Pte. Ltd. (a subsidiary of Essilor International S.A., the largest optical lens maker in the world) in Daemyung Optical Co., Ltd. (the second largest optical lens maker in Korea) citing inter alia the likely lessening effect on price competition and the probable future abuses of the enhanced market power. On top of the expressed competitive concerns, the KFTC observed that allowing foreign firms to acquire local firms and turn them into their local sub-contractors worsens the competitive market structure of the domestic optical lens industry.
  • Recent Issues of Data Protection Regulation in Korea

    The Personal Information Protection Act ("PIPA") was enacted as a general law of personal information in March 2011 to fulfill the need for presiding rules to govern personal information protection. In fact, there have already been a number of special laws governing personal information protection in various special areas and cases, such as The Act on Promotion of Information and Communications Network Utilization Information Protection ("Network Act") governing information and communications services, and the Use and Protection of Credit Information Act ("Credit Information Act") governing personal credit information. Special laws prevail over the general law, when in conflict with individual articles of the general law.