Electricity Business License Approval Criteria – Stricter Standards to Apply
On March 8, 2023 the South Korean Ministry of Trade, Industry, and Energy (MOTIE) issued a legislative notice regarding proposed amendments to the “Detailed Evaluation Standards for Development Projects” (the Amended Evaluation Standards). The intent of the amendments is to enhance the effectiveness of project construction and operations, as well as to minimize disputes between …
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KFTC Proposes to Enhance Investigation and Deliberation Procedures
KFTC issues advance administrative notice on amendments to Investigation and Case Handling Procedures and on enactment of Guidelines for Filing Objections
Proposed Amendment of the Monopoly Regulation and Fair Trade Act
The Korea Fair Trade Commission (KFTC) issued an advance notice with respect to proposed revisions to the Monopoly Regulation and Fair Trade Act (MRFTA) which includes inter alia (i) expansion of merger notification exemptions and (ii) introduction of commitment procedures for merger control (the Proposed Revisions). There will be a public notice period until March …
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Second Major Amendment to the Personal Information Protection Act Passed by National Assembly (III)
On February 27, 2023, the National Assembly passed a bill containing a number of amendments to the Personal Information Protection Act (the Amended PIPA), Korea’s general data protection law. The Amended PIPA, which represents the second step of the Korean government’s multi-step amendment process for the PIPA following the passage of the first amendment in …
Major Amendment to the Personal Information Protection Act Passed by National Assembly (II)
On February 27, 2023, the National Assembly passed a bill containing a number of amendments to the Personal Information Protection Act (the Amended PIPA), Korea’s general data protection law. The Amended PIPA, which represents the second step of the Korean government’s multi-step amendment process for the PIPA following the passage of the first amendment in …
Second Major Amendment to the Personal Information Protection Act Passed by National Assembly (I)
On February 27, 2023, the National Assembly passed a bill containing a number of amendments to the Personal Information Protection Act (the Amended PIPA), Korea’s general data protection law. The Amended PIPA, which represents the second step of the Korean government’s multi-step amendment process for the PIPA following the passage of the first amendment in …
Lee & Ko Tax Group Newsletter: Korean Tax Law and Regulation Updates for 2023
Korea’s current position and direction/trends within the global taxation context Korea’s latest tax reforms package was approved by the National Assembly in December 2022, with further details made clear by the Presidential Enforcement Decree which was published in January 2023. Before going into the details of the Korean tax reforms for 2023, it is important …
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2023 Capital Markets Regulation Trends and its Impacts on Corporations
Much of what was discussed in the new administration’s capital market policy prospects in early 2022 was carried over from election pledges. That may be why the general market protection policy was widely deployed. Regulatory authority’s intention to regulate unfair trade has been announced several times and is reflected in regulation and supervision in a …
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Korea’s Draft Amendment to the Civil Act May Mean Statutory Protection for ‘Right of Publicity’
As the use of content platforms continues to grow around the world, Korea is revisiting the debate on who should be allowed to benefit from a person’s name, likeness, or other indicia of personal identity. In a global environment where almost anyone can obtain public notoriety, Korea is seeking to foster a balanced approach to …
KFTC Proposes Revisions to Merger Review Guidelines and Merger Filing Guidelines
The Korea Fair Trade Commission (“KFTC”) proposed revisions to the Merger Review Guidelines and the Merger Filing Guidelines to facilitate merger reviews of certain investments and to expedite their review process. With the number of filings increasing from 701 in 2018 to 1,113 in 2021, the KFTC is seeking to enhance efficiency in the merger …
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