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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

Korean Intellectual Property Office (KIPO) announces proposed amendment to the Trademark Act

South Korea - August 21 2012 KIPO announced on June 4, 2012 the proposed amendment to the Trademark Act which is purported to expand the scope of exemptions to trademark infringement to alleviate conflicts between trade names and trademarks reflecting the realities of the commercial practices

Increase in the reward for cartel whistleblowers

South Korea - March 25 2013 The Korea Fair Trade Commission ("KFTC") revised the Guideline on Reward to Whistleblowers (hereinafter, "Reward Guideline") for enforcement starting

Introduction of reporting system for massive short selling positions

South Korea - June 5 2012 The Financial Services Commission (FSC) announced on March 14, 2012 that it would be introducing a reporting system, by way of amendments to the Enforcement Decree for the Financial Investment Services and Capital Markets Act, for massive short selling positions, pursuant to which investors will be required to submit reports with data on their short selling positions and changes in such positions whenever their short selling positions exceed a specified level

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

Amendment to the Real Estate Investment Company Act to promote indirect investment in real estate

South Korea - March 25 2013 The Real Estate Investment Company Act (hereinafter, the "Act") was amended on December 18, 2012 in an effort to mitigate both the shareholding limit