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Lee & Ko

HANJIN BUILDING, 63 NAMDAEMUN-RO, JUNG-GU, SEOUL 04532, SOUTH KOREA
Tel:
Work +82 2 772 4000
Fax:
Fax +82 2 772 4001
Email:
Web:
www.leeko.com
Seoul, Seoul

Press releases and law firm thought leadership

This page is dedicated to keeping readers informed of the latest news and thought leadership articles from law firms across the globe.

If your firm wishes to publish press releases or articles, please contact Shehab Khurshid on +44 (0) 207 396 5689 or shehab.khurshid@legalease.co.uk

 

The Use of Dispatch Workers: Ironing Out Yet Another Wrinkle for its Successful Implementation

February 2017. Press Releases by Lee & Ko (view listing).

From a purely employer’s perspective, foreign companies operating in Korea are often frustrated (or at times, even amazed) at some of the protections provided to employees under the Korean employment laws. A few of the most difficult legal requirements include the strict just-cause requirement for termination, the durational limits on the use of fixed-term (contract) employees, the statutory severance obligation, and the statutory allowances for overtime, night-time, and holiday works. In light of such requirements and to minimize the burden of potential employer liabilities, many foreign companies may naturally wonder: How can we structure our workforce so that we can preserve an increased degree of flexibility when managing our personnel?

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KOREA’S NEW SUPREME COURT CASE EXCLUDES MILEAGE FROM VAT TAXATION:

February 2017. Press Releases by Lee & Ko (view listing).

Used mileage points interpreted as sales allowance deductible from tax base

If a business operates a customer loyalty program together with other business, in which the amount of mileage points granted for the customers’ primary transaction is deducted from the purchase price of the customers’ secondary transaction and those customers only have to pay the remaining price, the amount deducted from the purchase price during the secondary transaction should not be additionally included as the value of supply(i.e. should not be subject to VAT) of the secondary transaction(Summary of Supreme Court 2015 du 58959, 2016. 08. 26.).

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KOREA’S NEW SUPREME COURT CASE EXCLUDES MILEAGE FROM VAT TAXATION

February 2017. Press Releases by Lee & Ko (view listing).

used mileage points interpreted as sales allowance deductible from tax base

If a business operates a customer loyalty program together with other business, in which the amount of mileage points granted for the customers’ primary transaction is deducted from the purchase price of the customers’ secondary transaction and those customers only have to pay the remaining price, the amount deducted from the purchase price during the secondary transaction should not be additionally included as the value of supply(i.e. should not be subject to VAT) of the secondary transaction(Summary of Supreme Court 2015 du 58959, 2016. 08. 26.).

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SOUTH KOREA

January 2017. Press Releases by Lee & Ko (view listing).

KFTC Enhances the Predictability and Clarity of Decisions but Potentially Increase the Overall Administrative Fine Levels

Facing continued criticisms that the existing rules allowed overly broad discretion to the Korea Fair Trade Commission (the “KFTC”) in setting the amount of administrative fine, the KFTC amended the Notification on Detailed Standards for Imposition of Administrative Fine (the “Notification”). The amendments (the “Amendments”) were passed by the KFTC’s full Committee of Commissioners on December 21, 2016, and came into effect on December 30, 2016.

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Lee & Ko Represented CJ Consortium in the Acquisition of Shares of Korea Express

January 2012. Press Releases by Lee & Ko (view listing).

On July 15, 2011, CJ Consortium (consisting of CJ GLS and CJ Cheiljedang Corp.) acquired 8,590,000 shares (37.62% ownership interest) in Korea Express from Asiana Airlines and Daewoo Engineering & Construction at a purchase price of KRW 1.845 billion.

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Lee & Ko Ranks #1 in M&A Transaction Representation in the Asian Region

January 2012. Press Releases by Lee & Ko (view listing).

Thomson Reuters, an internationally renowned M&A market surveyor, released its law firm ranking for M&A legal representation as of September 30, 2011.

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Asialaw Profiles Gives Lee & Ko High Ranking in All 9 Legal Practice Areas Reviewed

January 2012. Press Releases by Lee & Ko (view listing).

The 2012 edition of “Asialaw Profiles,” a legal publication devoted to analyzing the global legal market and assessing the relative strengths of major law firms in the market, has placed Lee & Ko within the group of highly ranked law firms for all categories of legal practice covered by the Asialaw Profiles survey.

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IFLR1000 2012 Edition Gives Lee & Ko High Rankings in All 5 Legal Practice

January 2012. Press Releases by Lee & Ko (view listing).

Areas Reviewed

In the recently published IFLR1000 (a law firm review and ranking publication of the Legal Media Group), Lee & Ko has received top (Band 1) ranking in the areas of Banking & Finance, M&A and Capital Markets. The IFLR1000 also ranked Lee & Ko highly (Band 2) in the areas of Competition and Restructuring & Insolvency.

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Financing of STX's Acquisition of Canadian Gas Fields

February 2011. Press Releases by Lee & Ko (view listing).

Lee & Ko successfully represented Korea Finance Corporation and the Export-Import Bank of Korea in the financing of KRW174 billion for STX's acquisition of a 100% interest in gas fields in the Maxhamish area of British Columbia, Canada from Encana Corporation, the largest natural gas company in Canada.

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