MOEL Issues Revised Labor-Management Guidance on Ordinary Wage in Response to Supreme Court’s En Banc Decisions
On February 6, 2025, the Ministry of Employment and Labor (the “MOEL”) released an updated labor-management guidance on ordinary wage (the “Guidance”) in response to the recent Supreme Court en banc decisions overruling its previous position on ordinary wage. The Guidance aims to clarify the newly established legal principle on ordinary wage and mitigate potential disputes and …
Prospects for Key Trade Policy Direction of Trump 2.0
With Donald Trump’s victory in the US presidential election held on November 5, 2024, the second Trump administration will begin on January 20, 2025. The Republican Party also won the Senate and House Majority, achieving the so-called “Trifecta.” As a result, Trump 2.0 is expected to be able to push forward strong policies for the …
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Legislative Insights: Recent Developments in Corporate Governance Regulations to Enhance Shareholder-Oriented Corporate Governance
Recently, in the context of corporations restructuring their business and governance structures, active legislative discussions regarding changes to related laws and regulations are taking place. These include (i) discussions in relation to the reintroduction of the mandatory tender offer rule, and (ii) amendments to the Korean Commercial Code (the “KCC”) to encompass shareholders within the …
Strengthening of Foreign Investment Security Review System
The amendments to the Enforcement Decree of the Foreign Investment Promotion Act proposed by the Ministry of Trade, Industry and Energy (the “MOTIE”) on December 20, 2023,
Key Contents of Proposed Amendment to English Arbitration Act and Implications in International Arbitration
A bill aimed at amending the English Arbitration Act 1996, the primary legislation governing arbitrations in England, Wales and Northern Ireland (the “Bill”), was introduced into the House of Lords on July 18, 2024.
Implementation of Amended MRFTA Enforcement Decree and Administrative Fine Notification to Promote Fair Trade Voluntary Compliance Programs
A set of amendments proposed by the Korea Fair Trade Commission (the “KFTC”), which were intended to encourage companies to adopt a fair trade voluntary compliance program (“CP” or “CPs”) in accordance with the Monopoly Regulation and Fair Trade Act (the “MRFTA”),
Prior Disclosure of Insider Transactions Becomes Mandatory for Listed Companies
An amendment to the Financial Investment Services and Capital Markets Act (the “Amended FSCMA”) was promulgated on January 23, 2024, to require the prior disclosure of insider transactions. Specifically,
Cases With RMP Cleared From Suspicion Under SAPA
In this newsletter, we provide a summary and the implications of four cases in which Kim & Chang was involved,
Trends in Institutional Improvements Aimed at Enhancing Corporate Value and Protecting Shareholder Value
Recently, the Korean Government and supervisory authorities have actively discussed various institutional improvements to address the so-called “Korea Discount” issue by protecting minority shareholders and other stakeholders of listed companies.
Korea Introduces Anti-Circumvention System in Customs Act
By amending (i) the Customs Act and its Enforcement Decree on February 29, 2024, and (ii) the Enforcement Rules of the Customs Act on March 22, 2024,