As we begin the new year, we have taken a look back on issues and trends observed in 2023 and prepared this newsletter to provide an overview of key issues which are expected to arise in the coming year in the investigations environment in Korea.
 
With respect to investigations conducted by law enforcement agencies, we continue to see further developments in the dynamic between the police and Prosecutors’ Office (the “PO”) in criminal investigations. Since major changes in the respective investigative authority of the police and PO were adopted through legislation in 2021, there have been further developments and changes in direction at the stage of legislative implementation. In this context, we provide an update on recent trends in police investigations concerning overseas companies, as well as a review of changes we expect after the adoption of recent amendments to the General Investigation Rules governing the relationship between the police and the PO in criminal investigations.
 
On the corporate investigations front, notable trends include an increased focus on director liability, as well as an increase in anonymous whistleblowing activity, which may not trigger statutory obligations to investigate, but can nonetheless have serious ramifications on the corporate environment.

This issue includes:
 

• Police Investigations of Overseas Companies

• Amendments to General Investigation Rules

• Directors’ Duty to Monitor and Supervise Company

• Anonymous Apps and Whistleblowing