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Lee & Ko

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2013 Korean tax law amendments relating to international taxation

South Korea - February 28 2013 On January 1, 2013, the tax law amendments were ratified by the Korean National Assembly. Most of the amendments took effect as of the same date

Enforcement of the consent order system

South Korea - June 5 2012 Pursuant to the revised Monopoly Regulation and Fair Trade Act (“MRFTA”) on December 2, 2012, which includes the consent order system, the Korea Fair Trade Commission (the “KFTC”) has issued the “Regulation of the Administration and Procedures of the Consent Order System” (hereinafter, the “Regulation”) containing the detailed procedures and operational guidelines, which has been effective since of April 1, 2012

The Supreme Court rules on the rights of an employer to an employee invention

South Korea - March 25 2013 On November 15, 2012, the Supreme Court ruled in detail about the rights an employer has to an employee invention where a contract provides for an

The KFTC releases the Guideline on Fair Trade in the pharmaceutical field

South Korea - January 31 2013 On December 28, 2012, the Korea Fair Trade Commission (the "KFTC"), in an effort to prevent the execution of unfair contracts among domestic and

Amendment of the ICNA and the Korean Government’s plan to expand restrictions on the use and collection of resident registration numbers

South Korea - June 5 2012 The Act on Promotion of Information and Communications Network Utilization and Protection of Information, etc. (the “ICNA”) as amended will become effective on August 18, 2012

South Korea’s Patent - Approval Linkage System

South Korea - May 29 2014 Although South Korea's new Patent- Approval Linkage System will not be fully implemented until 2015, there is already keen interest from global

"In Korea, legal opinion letters obtained before commencement of formal criminal process are not privileged"

South Korea - August 28 2013 According to the Supreme Court of Korea, when a client receives a legal opinion letter from hisher attorney regarding potential criminal liability

Consequences of altered use of a registered mark by licensees

South Korea - May 31 2013 On May 26, 2011, the Supreme Court, in Lacoste v. Crocodile International rendered a decision ordering cancellation of Crocodile International Pte

Comprehensive export of the Korean Medical System to Saudi Arabia

Saudi Arabia, South Korea - April 30 2013 Under the so-called "Medical System Twinning" project, Korea will make a comprehensive export of its medical service systems to Saudi Arabia. The

Mitigation on regulations regarding free gift sweepstakes

South Korea - March 25 2013 The Korea Fair Trade Commission ("KFTC") revised the Guideline on Types of and Criteria for Unfair Trading on Free Gift (hereinafter, "Gift