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KIM&CHANG A Quarterly Update of Legal Developments in Korea Newsletter
2022 Issue 2
UPDATES
New Administration’s Policy Direction
On May 10, 2022, Yoon Suk-yeol was inaugurated as the 20th President of Korea and started his five-year term of office. The Presidential Transition Committee announced 110 National Agenda, which lists the new administration’s key policy objectives and direction. Click on the articles below to read more about key issues in respective areas.
 
∙ New Administration’s National Agenda on Fair Trade and Implications
 
∙ Big Blur: Competition with Big Tech Causing Banks to Launch New Businesses, and New Administration’s Regulatory Response
 
∙ New Administration’s Corporate Law and Governance Policy and the Impact Thereof on Businesses
 
∙ Key Issues and Implications of the New Administration’s Environment Policies
 
∙ New Administration’s National Agenda on Insurance Industry and the Financial Authorities’ 2022 Business Plan
 
∙ New Administration’s National Agenda on ICT and Fintech Industries
 
 
Regulatory and Legislative Trends Regarding Restructurings of Listed Companies
In response to the concerns raised by various stakeholders, the National Assembly and the government have been preparing legislation and policies that would protect the rights and interests of minority shareholders pertaining to restructurings of listed companies and strengthen relevant procedural requirements.
Read more
Seven Compliance Check Items Due by June 30, 2022 Under the Enforcement Decree of the SAPA
Under the Enforcement Decree of the Serious Accidents Punishment Act (the “SAPA”), companies subject to the SAPA must check their compliance status – at least once every six months – with respect to the seven items enumerated below.
Read more
Guidelines on EU’s Directive on Mandatory Human Rights and Environmental Due Diligence
FSC Announces Plans to Improve Cloud Computing Regulations and Network Separation Requirements
FSC Publishes Guideline on Securities Business Dealing with Fractional Investment
Korean Supreme Court Lowers Standard for Inventiveness for New Crystalline Form Inventions
Amendments to the ICSID Arbitration Rules
Labor Relations Commission’s Remedial Procedures for Gender Discrimination in Employment and Sexual Harassment in the Workplace
CASES
Successful Representation of Purchaser in Indemnification Claim for Breach of Representation, Warranties and Covenants Under Asset Purchase Agreement
Kim & Chang successfully represented the purchaser in an indemnification claim against the seller for a breach of representations and warranties and covenants under an asset purchase agreement.
Read more
Supreme Court Decision on Employee Status of Branch Manager of Insurance Company
Supreme Court Confirms Reversal of KFTC's Sanctions Against an Air Transportation Company for Alleged Provision of Inappropriate Benefits to Specially-Related Parties
Korean Patent Court Confirms for the First Time that a Pharmaceutical Compound Patent Covers Generic Prodrugs
NEWS
118 Professionals Selected as National Leaders – WWL: Korea 2022
118 attorneys, patent attorneys, and certified public accountants across 23 fields from Kim & Chang were selected as “National Leaders” in their respective fields in the 2022 edition of WWL: Korea.
Read more
Winner of “South Korea National Law Firm of the Year” – Chambers Asia-Pacific Awards 2022
Kim & Chang Introduces Russia Sanctions Task Force Team
 
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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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