The Korea Fair Trade Commission is strengthening the procedural rights and rewards for whistleblowers of violations of the Monopoly Regulation and Fair Trade Act and other relevant statutes. Recently, the KFTC implemented the amended Regulations on Reward Payments to Whistleblowers of Violations of the MRFTA, Etc., which increased the reward amounts payable to whistleblowers. The KFTC also implemented the amended Rules on the Operation of KFTC Meetings and Case Procedures.
On July 21, 2026, the government promulgated an amendment to the Enforcement Decree of the Korean Commercial Code. The amendment aims to improve corporate governance and facilitate the exercise of shareholder rights by requiring the adoption of virtual shareholders’ meetings and revising existing measures to reflect the new independent director system.
The Supreme Court of Korea recently issued a series of important decisions addressing (i) the legal nature of an employee’s right to claim compensation for an in-service invention, and (ii) the point from which the statute of limitations to bring such a claim begins to run. The decisions may affect how companies administer employee-invention compensation and manage their internal compensation rules.
On behalf of a medical device importer, Kim & Chang filed a request for a tax adjudication in response to the customs authority’s assessment of approximately KRW 3 billion—including customs duty, VAT and penalty tax—by changing the Harmonized System classification of medical endoscopy image processors, which led to a decision to cancel the assessment in its entirety.
This publication 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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