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KIM&CHANG A Quarterly Update of Legal Developments in Korea Newsletter
2022 Issue 1
UPDATES
Recent Developments in Derivative Actions and Director’s Obligations and Liabilities
The public’s interest in minority shareholders’ rights has recently increased and the possibility of the National Pension Service’s taking derivative actions has garnered attention.
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The KFTC’s 2022 Enforcement Plan
On January 4, 2022, the KFTC announced its 2022 Enforcement Plan. The enforcement plans present a comprehensive overview of the KFTC’s enforcement priorities for the year ahead.
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Introduction of K-Taxonomy Guideline
On December 30, 2021, the Ministry of Environment announced the K-Taxonomy Guideline that sets forth principles and standards of green economic activities.
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Amendments to the Notification on Detailed Standards for Imposition of Administrative Fines
FSS Proposes Changes to Audit and Sanctions Procedures
Legislative Developments of Virtual Assets in Korea
New Regulations on Foreign Currency Insurance Policies and Zero/Low Surrender-Value Insurance Policies
Amendments to FSCMA Streamline Add-On License Process
2022 Amendments to HS Codes
RCEP – Certain Key Provisions
Korea Enacts Special Act to Protect and Foster National High-Tech Strategic Industry
Korean Trademark Act Amended to Cover Online Distribution of “Digital Goods” Bearing Trademarks
Introduction of New PILA, Fully Amended in 20 Years
European Commission Formally Proposes Complementary Delegated Act of EU Taxonomy Regulation Covering Certain Gas and Nuclear Activities for Legislation
Important HR/Labor Law Amendments in 2022 and the MOEL’s Change of Administrative Interpretation Concerning Annual Paid Leave
Lessee’s Right to Terminate Lease Agreement Early in Case a Business Closes Down Due to Prolonged Imposition of Tough Virus Curbs
Key Tax Law Amendments of 2022
2022 Plans of the Korea Communications Commission, the Ministry of Science and ICT, and the Personal Information Protection Commission
CASES
Ruling on Denial of Worker-Dispatch Relationship Between Subcontractor’s Employees and Automobile Manufacturing Company
The Seoul High Court recently rendered a decision that denied the worker-dispatch relationship between a subcontractor's employees who performed the production management (logistics), preservation, and export shipping of the automobile manufacturer and the automobile manufacturing company.
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NEWS
Winner of “Country and State Awards: Korea” – Who’s Who Legal Awards 2021
Kim & Chang won the “Country and State Awards: Korea” for the sixteenth consecutive year at the 2021 Who’s Who Legal Awards.
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“Tier 1” in All 15 Practice Areas – The Legal 500 Asia Pacific 2022
Top Ranking in 18 Areas and 74 Individual Recognitions – Chambers Asia-Pacific 2022
 
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This legal updates is provided for general informational purposes only and should not be considered a legal opinion of KIM & CHANG nor relied upon in lieu of specific advice. Recipients of this publication, whether clients or otherwise, should not act or refrain from acting on the basis of any information included in this publication without seeking appropriate legal or other professional advice.

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