🌐 Language / 語言 / 言語 / Idioma: English 中文 日本語 Español 📋 Korean Law Insight | Korean Legal System By Attorney NOH UJIN | HANBYOL LAW LLC, Seoul Public Notary (공증) System in Korea: A Complete Legal Guide to Document Authentication for Foreign Individuals and Businesses Korea's notarization system — operating under the Notary Public Act (공증인법) and the Civil Procedure Code's provisions on notarial deeds — differs significantly from common-law notary systems familiar to many foreign businesspeople and individuals. Understanding how Korean public notaries (공증인) function is essential for anyone executing powers of attorney, loan agreements, corporate resolutions, or other documents intended for use in Korea or abroad. 1. What Is a Korean Public Notary, and How Does It Differ from the Western Notary? In common-law jurisdictions (US, UK, etc.), a "notary public" is typically a low-level official who verifies identity and witnesses signatures. I...
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Competition and Antitrust Law in Korea (EN/中文/日本語/Español)
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Competition and Antitrust Law in Korea (EN/中文/日本語/Español)
🌐 Language / 語言 / 语言 / Idioma:
Competition and Antitrust Law in Korea
By Attorney NOH UJIN | HANBYOL LAW LLC, Seoul
Monopoly Regulation and Fair Trade Act
Korea's primary competition law, the Monopoly Regulation and Fair Trade Act (MRFTA), prohibits monopolistic practices, unfair trade, and anticompetitive behavior. The Korea Fair Trade Commission (KFTC) enforces the law.
La ley de competencia principal de Corea, la Ley de Regulación de Monopolios y Comercio Justo (MRFTA), prohíbe prácticas monopolísticas, comercio desleal y comportamiento anticompetitivo. La Comisión de Comercio Justo de Corea (KFTC) hace cumplir la ley.
Conducta Prohibida
La MRFTA prohíbe:
Abuso de dominio del mercado
Actos colaborativos injustos (cárteles, fijación de precios)
Prácticas comerciales injustas (mantenimiento de precios de reventa, negociación exclusiva)
Las fusiones y adquisiciones que cumplan ciertos umbrales requieren la aprobación previa de la KFTC. Las fechas límite de presentación y los períodos de revisión se hacen cumplir estrictamente.
Sanciones
Las violaciones pueden resultar en multas de hasta el 10% de los ingresos relevantes, sanciones penales para ejecutivos y órdenes correctivas.
Programa de Clemencia
Las empresas que autoinforman la participación en cárteles pueden recibir sanciones reducidas o inmunidad bajo el programa de clemencia de la KFTC.
Contáctenos en ujin95@hanbl.co.kr para cumplimiento de la ley de competencia y presentaciones de M&A.
🌐 Language / 語言 / 言語 / Idioma: English 中文 日本語 Español 📋 Korean Law Insight | Transportation Law By Attorney NOH UJIN | HANBYOL LAW LLC, Seoul Korea's passenger transport sector — taxis, car-sharing platforms, and ride-hailing-adjacent services — operates under one of the most tightly regulated mobility frameworks in Asia. Foreign mobility companies, investors, and platform operators considering entry into the Korean market must navigate the Passenger Transport Service Act (여객자동차 운수사업법), licensing quotas, and a legal environment shaped by years of conflict between incumbent taxi operators and new mobility platforms. This guide explains the legal landscape for taxi and car-sharing regulation in Korea. 1. The Passenger Transport Service Act: Licensing Structure All passenger transport businesses in Korea — including taxis, limousine services, and chartered vehicles — require a license under the Passenger Transport Service Act, issued by munici...
How Foreign Creditors Can Recover Debts in South Korea: A Step-by-Step Legal Guide How Foreign Creditors Can Recover Debts in South Korea: A Step-by-Step Legal Guide By Attorney NOH UJIN | HANBYOL LAW LLC, Seoul Labels: Debt Recovery • Cross-Border Litigation • Korean Legal System EN 中文 日本語 Español South Korea's sophisticated legal infrastructure makes it one of the more creditor-friendly jurisdictions in Asia — if you know how to navigate it. For foreign businesses owed money by Korean debtors, understanding the step-by-step legal process is essential to protecting your financial interests. This guide walks you through the primary pathways available under Korean law. 1. Understanding Your Legal Foundations Debt recovery in Korea is governed primarily by two statutes: the Civil Procedure Act (민사소송법) for initiating and conducting litigation, and the Civil E...
Commercial Arbitration in South Korea: What Foreign Businesses Must Know Commercial Arbitration in South Korea: What Foreign Businesses Must Know By Attorney NOH UJIN | HANBYOL LAW LLC, Seoul Labels: Cross-Border Litigation • Business Law • Korean Legal System EN 中文 日本語 Español South Korea has firmly positioned itself as a leading arbitration hub in Northeast Asia. Seoul is home to the Korean Commercial Arbitration Board (대한상사중재원, KCAB), one of the most active arbitral institutions in the region. For foreign businesses entering contracts with Korean counterparties — or seeking to enforce arbitral awards against them — a working knowledge of Korea's arbitration framework is indispensable. 1. The Legal Framework: The Korean Arbitration Act The primary statute governing arbitration in Korea is the Arbitration Act (중재법). Korea substantially reformed its Arbitr...
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