Following amendments to an act ("The Act on External Audit of Stock Companies, etc") on October 31, 2017, many joint stock and limited companies operating in South Korea now have to face mandatory external audits.

Korea Customs Service ("KCS") has been well recognised for its proactiveness, both internationally and domestically, especially when it comes to customs audits.

Korea has seen a dramatic increase in international commercial disputes in recent years. Among these, post-M&A deal disputes have become increasingly common and acrimonious. As the authors detail below, a historically unique set of circumstances set the stage for this swift rise in international disputes in Korea.

Ruling confirms long-suspected risk of liability for directors and officers in approving use of target company assets as security for acquisition financing.