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  • Article

    Delay In Timing Of Unraveling Of Hanjin Shipping's Fate

    Seoul Central District Court, or the Korean bankruptcy court handling rehabilitation proceedings of Hanjin Shipping Co., Ltd. (Hanjin Shipping) recently took several noteworthy measures.
    South KoreaInsolvency/Bankruptcy/Re-Structuring
    Yulchon LLC
    Yulchon LLC
  • Article

    Implementation Of Integrated Accounts (Omnibus Accounts)For Foreigners To Improve The Investment Regime Applicable To Foreigners

    The "FSC" announced on February 1, 2016 that it intends to reform the existing regulatory regime applicable to foreigners investing in listed securities by introducing integrated accounts...
    South KoreaCorporate/Commercial Law
    Yulchon LLC
    Yulchon LLC
  • Article

    Implementation Of Performance-Based Pay In The Public Sector

    The government announced guidelines in 2016 pushing for broader implementation of performance-based pay in the public sphere.
    South KoreaEmployment and HR
    Yulchon LLC
    Yulchon LLC
  • Article

    Imprisonment Of Former CEO For Unfair Labor Practices

    In July 2016, the Daejeon District Court sentenced a former CEO, who was charged with unfair labor practices, to 10 months' imprisonment and ordered him arrested immediately...
    South KoreaEmployment and HR
    Yulchon LLC
    Yulchon LLC
  • Article

    FIG Derivatives Briefing - 16.08.03

    The FSC is expected to announce measures to relax certain rules concerning futures/options markets with the objective of boosting the domestic futures/options markets.
    South KoreaFinance and Banking
    Yulchon LLC
    Yulchon LLC
  • Article

    FIG Derivatives Briefing - October 2016

    The dedicated professionals of Financial Institutions Group related practice (FIG) at Yulchon LLC will be bringing you periodic briefings on developments in Korea and globally concerning...
    South KoreaFinance and Banking
    Yulchon LLC
    Yulchon LLC
  • Article

    KFTC Imposes Corrective Measure On Dow-Dupont Merger

    According to the KFTC's press release, the proposed merger does not raise competitive concerns in the seed, pesticide...
    South KoreaAntitrust/Competition Law
    Yulchon LLC
    Yulchon LLC
  • Article

    Road To Wind Down Hanjin Shipping: Termination Of Rehabilitation Proceedings

    Seoul Central District Court terminated the rehabilitation proceedings of Hanjin Shipping yesterday on February 2, 2017 following public announcements by Hanjin Shipping . . .
    South KoreaInsolvency/Bankruptcy/Re-Structuring
    Yulchon LLC
    Yulchon LLC
  • Article

    Government's Publication Of Twin Labor-Reform Guidelines

    Labor organizations have expressed strong opposition to both sets of guidelines, accusing the government of simply trying to make it easier and more convenient to dismiss employees.
    South KoreaEmployment and HR
    Yulchon LLC
    Yulchon LLC
  • Article

    Reduced Working Hours For Pregnant Employees

    Furthering the Korean government's policy response to an aging society and low birthrate, the 2014 amendment to the Labor Standards Act permitting pregnant employees at critical points in their pregnancy . . .
    South KoreaEmployment and HR
    Yulchon LLC
    Yulchon LLC
  • Article

    Destined Demise Of Once Shipping Giant Hanjin Shipping

    The once great shipping giant, Hanjin Shipping Co., Ltd. is now facing liquidation. The appraised liquidation value is 19 trillion won.
    South KoreaInsolvency/Bankruptcy/Re-Structuring
    Yulchon LLC
    Yulchon LLC
  • Article

    Enactment Of A New 「Corporate Restructuring Promotion Act」And Its Implications

    "Workout" in Korea is generally accepted as an out-of-court corporate restructuring process aimed at speedy business normalization of financially distressed companies...
    South KoreaInsolvency/Bankruptcy/Re-Structuring
    Yulchon LLC
    Yulchon LLC
  • Article

    Prior Censorship Of Medical Advertisement Found Unconstitutional In Korea - But Criminal Sanction For False Medical Advertising Found Constitutional

    On December 23, 2015, the Korean Constitutional Court, the final arbiter of constitutional disputes in Korea, issued a pair of companion decisions that clarify the bounds of medical advertisement regulation in Korea.
    South KoreaFood, Drugs, Healthcare, Life Sciences
    Yulchon LLC
    Yulchon LLC
  • Article

    National Assembly Passes Bill To Amend The Debtor Rehabilitation And Bankruptcy Act

    On 19 May 2016, the National Assembly passed the bill to amend the Debtor Rehabilitation and Bankruptcy Act ("DRBA"). Key amendments include...
    South KoreaInsolvency/Bankruptcy/Re-Structuring
    Yulchon LLC
    Yulchon LLC
  • Article

    Legal Issue: First Decision Recognizing Unfair Competition For Copying Store Signage And Interior Design

    Plaintiff, an owner of a red bean bread bakery, created a unique atmosphere in its store by differentiating various elements therein from other stores, such as its trademark, exterior sign, and store layout.
    South KoreaIntellectual Property
    Yulchon LLC
    Yulchon LLC
  • Article

    International Marketing Fees Incurred By Multinational Enterprise's Subsidiary Can Be Taxed As Taxable Value Of Imported Goods If They Constitute Royalties In Substance

    Global marketing efforts by multinational enterprises on the global sports items market have rarely been as active as lately.
    South KoreaIntellectual Property
    Yulchon LLC
    Yulchon LLC
  • Article

    Seoul Administrative Court Upholds Performance Improvement Plan For Extremely Low Performers And Consequent Dismissal

    In July 2016, the Seoul Administrative Court accepted the Labor Relations Commission's determination that the dismissal of an employee who had continuously shown poor performance was justified.
    South KoreaEmployment and HR
    Yulchon LLC
    Yulchon LLC
  • Article

    Supreme Court Upholds Refusal To Grant Employee Status To Dairy-Product Salesperson

    On August 24, 2016, the Supreme Court upheld a lower-court decision which found that an independent salesperson who sold and delivered dairy products for Korea Yakult Corporation...
    South KoreaEmployment and HR
    Yulchon LLC
    Yulchon LLC
  • Article

    Introduction Of Seoul Bankruptcy Court

    Seoul Bankruptcy Court will be established and replace the Bankruptcy Division of the Seoul Central District Court as of March 1, 2017.
    South KoreaInsolvency/Bankruptcy/Re-Structuring
    Yulchon LLC
    Yulchon LLC
  • Article

    Summary Of Regulatory Reform Plan Of AI, VR And Fintech

    On February 16, 2017, the "MSIP" announced a regulatory reform plan in the areas of artificial intelligence ("AI"), Virtual Reality ("VR") and Fintech (the "Regulatory Reform Plan").
    South KoreaTechnology
    Yulchon LLC
    Yulchon LLC

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