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CORPORATE |
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FSC Proposes Changing the Law Governing External Audits
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On April 19, 2018, the Financial Services Commission proposed an amendment of the Act on External Audit of Stock Companies and its Enforcement Decree.
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ANTITRUST & COMPETITION |
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KFTC Announces and Implements Regulations on Digital Forensic Investigation Procedures
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On April 3, 2018, the Korea Fair Trade Commission promulgated and implemented the Regulations on the Collection, Analysis and Management of Digital Evidence as well as guidelines that set forth greater details on the KFTC’s forensic review procedure.
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ENVIRONMENT
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National Assembly Passes the Act on the Safe Control of Common Household Chemical Products and Biocides
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On February 28, 2018, the Korean National Assembly passed the Act on the Safe Control of Common Household Chemical Products and Biocides, which was proposed by the Ministry of Environment on August 16, 2017. The new Biocides Act was promulgated on March 20, 2018, and is scheduled to become effective on January 1, 2019.
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INTERNATIONAL ARBITRATION & CROSS-BORDER LITIGATION
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Successful Setting Aside of an Arbitration Award in Korean Courts
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Members of Kim & Chang’s International Arbitration & Cross Border Litigation Practice successfully set aside an arbitration award for violation of a Korean bank and a foreign party’s arbitration agreement.
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