Amendments to Korea’s Unfair Competition Prevention and Trade Secret Protection Act Provide More Protection for Data and Famous People
Korea’s recent amendments to the Unfair Competition Prevention and Trade Secret Protection Act (the UCPA) strengthened the statutory framework for:
Revised Korean Patent Act going into effect from April 20, 2022
A number of important changes to the Korean Patent Act (KPA) are scheduled to go into effect from April 20, 2022. Read on to learn more about how these changes have been made to protect an applicant’s interests, provide further opportunities to obtain patent rights, and simplify a variety of procedures.
The New Administration’s Policy Outlook for Healthcare/Life Sciences
With the inauguration of Yoon Seok-yeol as the 20th president of Korea scheduled to take place on May 10, 2022, the Presidential Transition Committee (the Committee) announced 110 national initiatives for the new administration (the Initiatives) on May 3, 2022. In connection with national healthcare, (1) improvement and sophistication of countermeasure against pandemics, (2) stimulation …
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Deregulation of the Financial Sector’s Cloud Computing and Network Separation
Improvements to Cloud Computing and Network Separation Rules in Financial Sector On April 14, 2022, the Financial Services Commission unveiled its plans to improve regulations on cloud computing and network separation in the financial sector. This improvement plan aims to support the financial sector’s efforts for digital transformation in a stable manner, in response to …
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New President-Elect’s Labor Policy Outlook
On 9 March 2022, Suk-Yeol Yoon was elected as the 20th president of the Republic of Korea. As one of the central components of his campaign platform, the president-elect advocated various policy changes and reforms that could have significant impacts on the employment and labor laws in Korea.
Digital Finance: Current Issues and Laws
Financial Metaverse Platform and Legal Considerations
Changes to KFTC Merger Guidelines Took Effect on December 30, 2021
Expanding Scope of Business Combinations Eligible for Simplified Review The Korea Fair Trade Commission (the “KFTC”) amended the KFTC Guidelines on Merger Review (the “Amended Merger Review Guidelines”) to expand the scope of business combinations eligible for a simplified review, and the Amended Merger Review Guidelines took effect on December 30, 2021. A simplified review …
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Digital Finance: Current Issues and Laws NFTs: Key Korean Legal Considerations
NFTs, or non-fungible tokens, have exploded in popularity recently in line with the surge in interest in the metaverse among companies like Meta (former Facebook) as well as investors and consumers. We discuss the characteristics of NFTs and the legal and regulatory issues relating to them.
Court Allows Lessee to Terminate Commercial Lease as COVID-19 Force Majeure
Court Allows Lessee to Terminate Commercial Lease as COVID-19 Force Majeure.1
Amendments to Korea’s Unfair Competition Prevention and Trade Secret Protection Act Provide More Protection for Data and Famous People.
Korea’s recent amendments to the Unfair Competition Prevention and Trade Secret Protection Act (the UCPA) strengthened the statutory framework for: