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legal

Amendments to the Personal Information Protection Act and Credit Information Use and Protection Act Go into Effect

Amendments to the Personal Information Protection Act (‘PIPA’) and Credit Information Use and Protection Act (‘Credit Information Act’) that were promulgated on February 4, 2020 took effect on August 5, 2020, along with their respective implementing regulations that were also amended to reflect the changes in the two laws.

Multiple Authors, Lee & Ko

Aug. 10, 2020

legal

Ministry of Environment Announces Jan. 1, 2021 Effective Date for the Amended Enforcement Decree of the Resource Circulation Act

Korea’s Ministry of Environment (the “MOE”) announced that the amendment to the Enforcement Decree of the “Act on Resource Circulation of Electrical and Electronic Equipment and Vehicles” (the “Resource Circulation Act”) (this “Amendment”) will become effective on January 1, 2021.

Shin and Kim, Shin and Kim

Aug. 10, 2020

Business Intelligence

Introducing the KBLA Member Dashboard

At KBLA, our goal is to make Korea more accessible, transparent, and welcoming for both a local and a global audience. The KBLA Member Dashboard is the core offering of that mission.

Rodney J Johnson, KBLA

Aug. 6, 2020

Legal

Korea’s Recent Trends for Antitrust Enforcement in Response to COVID-19

The outbreak of COVID-19 significantly affected businesses across all industries during recent months. To regulate the businesses coping with sudden adjustments, the Korea Fair Trade Commission (the “KFTC”) has implemented various measures. Among them, we highlight the following.

Multiple Authors, Lee & Ko

July 13, 2020

Korea Intelligence, KBLA Blog

More Than Just a New Website and Some New Tools

KBLA's new intelligence tools promise to offer significantly greater value to members.

Rodney J Johnson, KBLA

July 6, 2020

Legal

COVID-19 Outbreak: Managing Legal Issues from the Korean Law Perspective

While Korea has had considerable success in containing and curtailing the first wave of the novel coronavirus outbreak (‘COVID-19’), the ongoing spread of the pandemic continues to disrupt the global economy, significantly impacting businesses and companies in all industries worldwide.

Multiple Authors, Lee & Ko

July 2, 2020

legal

Latest Supreme Court Decision Sets New Standards for Inventiveness

Benefit of invention now a more important factor for inventiveness

Multiple Authors, Lee & Ko

June 11, 2020

legal

South Korea Set to Launch Corruption Investigation Office for High-Ranking Officials & Its Implications

Despite strong protests by the main opposition party and conservative groups, on January 14, 2020, the Korean National Assembly passed a controversial bill setting up an independent investigation agency dedicated to investigating corruption among highranking public officials (the Corruption Investigation Office, or the CIO). And on July 15, 2020, the Act on the Establishment and Operation of the Corruption Investigation Office for High-Ranking Officials (the CIO Act) is set to take effect.

Multiple Authors, Shin and Kim

June 3, 2020

legal

Amendments to the Pharmaceutical Affairs Act to Strengthen Administrative & Criminal Sanctions for Data Manipulation Related to Applications for Regulatory Approvals

On April 7, 2020, an amendment to the Pharmaceutical Affairs Act (the 'PAA') came into effect to provide a statutory basis for administrative and criminal sanctions to be enforced against companies that have obtained regulatory approval for a drug product through deceitful or otherwise improper means.

Healthcare Team, Lee & Ko

May 5, 2020

legal

COVID-19 Impact on Asset-Backed Securitization Transactions

The recent COVID-19 pandemic is expected to have a significant impact on the financial market and financial transactions, including asset-backed securitization transactions (ABS Transactions). This newsletter aims provide you with an overview of the issues relating to ABS Transactions resulting from the COVID-19 pandemic.

As ABS Transactions usually involve the execution of a large number of complex contracts by multiple parties, we believe it is important to assess the potential impact of COVID-19 on such transactions in advance to prepare for the inevitable changes and challenges that the market will face.

Multiple Authors, Shin and Kim

April 29, 2020

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Items You Might Have Missed

New KBLA Tools for Business Warriors

One of the driving goals of KBLA in 2020 is to create and offer new tools to aid each member of the KBLA community in accomplishing their business goals.

We have a list of new, exploratory tools to bring out over the course of the year, all of which fall into one or more of three categories that mesh with the KBLA’s overall mission.

Oct. 29, 2019

A New KBLA for 2020

There are many changes coming to KBLA in 2020. We hope you’ll stay with us and experience all we have lined up. We think this is going to be the best iteration yet. Joining KBLA is a chance to support real change among business communities in Korea.

Nov. 19, 2019

Why Does KBLA Exist?

Korea needs foreign participation in the domestic economy like never before.

The world is changing and Korea is changing. Korea has new and existing challenges in rapidly weakening demographics, highly concentrated market structure, increasing protectionism, rising export similarity among competitors, low productivity growth, low domestic investment levels, and the rising importance of services. Most, if not all, of these things can be overcome through increased participation of the global business community in the Korean economy.

Nov. 24, 2019

It’s 2020, Do You Know Where Your Meeting Attendees Are?

We know one thing: they are not at your meeting. That’s because in-person meetings aren’t what they once were: the only game in town. In 2020, along the curve of value for cost, meetings are are not just at the low end, they are downright abysmal.

Dec. 24, 2019

Act on Online Investment–Linked Financing and User Protection (aka P2P Financing Act) Promulgated on November 26, 2019

The Act on Online Investment–Linked Financing and User Protection (the P2P Financing Act) passed the plenary session of the Korean National Assembly on October 30, 2019 and was promulgated on November 26, 2019.

Jan. 8, 2020