Kim & Chang

In the 2024 edition of WWL: Korea, 151 attorneys, patent attorneys and certified public accountants across 22 fields from Kim & Chang were selected as “National Leaders” in their respective fields.

Kim & Chang was named “Outstanding” in all 24 categories in the 2024 edition of asialaw,

Kim & Chang once again received “Tier 1” (top-tier) rankings in all areas surveyed for Korea in the 2024 edition of IFLR1000.

A bill aimed at amending the English Arbitration Act 1996, the primary legislation governing arbitrations in England, Wales and Northern Ireland (the “Bill”), was introduced into the House of Lords on July 18, 2024.

A set of amendments proposed by the Korea Fair Trade Commission (the “KFTC”), which were intended to encourage companies to adopt a fair trade voluntary compliance program (“CP” or “CPs”) in accordance with the Monopoly Regulation and Fair Trade Act (the “MRFTA”),

An amendment to the Financial Investment Services and Capital Markets Act (the “Amended FSCMA”) was promulgated on January 23, 2024, to require the prior disclosure of insider transactions. Specifically,

In the 2024 edition of Benchmark Litigation Asia-Pacific, a guide that recognizes leading litigation law firms and lawyers in the Asia-Pacific region,

Kim & Chang was named as the “South Korea Firm of the Year” at the Benchmark Litigation Asia-Pacific Awards 2024.

Kim & Chang was recognized as the “South Korea National Law Firm of the Year” at the Chambers Asia-Pacific & Greater China Region Awards 2024.

In this newsletter, we provide a summary and the implications of four cases in which Kim & Chang was involved,

Recently, the Korean Government and supervisory authorities have actively discussed various institutional improvements to address the so-called “Korea Discount” issue by protecting minority shareholders and other stakeholders of listed companies.

By amending (i) the Customs Act and its Enforcement Decree on February 29, 2024, and (ii) the Enforcement Rules of the Customs Act on March 22, 2024,

In the 2024 edition of The Legal 500 Asia Pacific, Kim & Chang was the only Korean law firm to be recognized as “Tier 1” in all 17 areas surveyed for Korea.

In the 2024 edition of Chambers Global, Kim & Chang was once again the only Korean law firm ranked “Band 1” in all nine practice areas that were surveyed for Korea.

Kim & Chang was awarded the “Jurisdictional Firm of the Year: South Korea” recognition at the IFLR Asia-Pacific Awards 2024.

On December 28, 2023, the National Assembly passed a proposed amendment to the Financial Investment Services and Capital Markets Act (the “Amended FSCMA”)

On January 25, 2024, the Korean National Assembly passed significant amendments to the Patent Act (the “Amended Patent Act”) and the Unfair Competition Prevention and Trade Secret Protection Act (the “Amended UCPA,”

The amendment to the Monopoly Regulation and Fair Trade Act (the “MRFTA”) was promulgated on February 6, 2024,

For the tenth consecutive year, Kim & Chang was ranked among the world’s top 100 law firms in the The American Lawyer’s “The Global 200” rankings.

Kim & Chang won the “Country Firm of the Year: South Korea” award for the eighteenth consecutive year at the WWL Awards 2023.

For the eleventh consecutive year, Kim & Chang won the “Korea Law Firm of the Year” award at the ALB Korea Law Awards 2023 held on November 10, 2023.

Kim & Chang obtained a “Band 1” ranking in 18 practice areas in the 2024 edition of Chambers Asia-Pacific, once again receiving the most “Band 1” rankings among Korean law firms.

Kim & Chang once again received “Tier 1” (top-tier) rankings in all areas surveyed for Korea in the 33rd edition of IFLR1000. Additionally, 55 of our attorneys were recognized as “Market Leaders,” “Women Leaders,” “Highly Regarded,” “Expert Consultants,” “Rising Star Partners,” “Rising Stars,” and “Notable Practitioners” in their respective practice areas.

Kim & Chang was recognized as the “South Korea Firm of the Year” at the Women in Business Law Awards 2023 APAC.

Kim & Chang was named “Outstanding” in all 24 categories in the 2023/24 edition of asialaw, once again receiving the highest recognition across all surveyed categories. Moreover, 62 of our attorneys and patent attorneys were recognized as Korea’s “Leading Lawyers” in their respective areas of expertise.

Kim & Chang was awarded the “National Law Firm of the Year: South Korea” recognition at the IFLR Asia-Pacific Awards 2023.  

We are delighted to announce that in March 2023, Kim & Chang opened its Indonesia Desk in partnership with Soewito Suhardiman Eddymurthy Kardono (“SSEK”), a top-tier Indonesian law firm.

In the 2023 edition of Benchmark Litigation Asia-Pacific, a guide that recognizes leading litigation law firms and lawyers in the Asia-Pacific region,

Kim & Chang obtained a “Band 1” ranking in 18 practice areas in the 2023 edition of Chambers Asia-Pacific, once again receiving the most number of “Band 1” rankings among Korean law firms.  With the guide also naming 76 of our professionals, the highest number among Korea law firms, as “Leading Individuals,” we have demonstrated our market-leading capabilities across a wide range of fields.

In the 2023 edition of The Legal 500 Asia Pacific, Kim & Chang was the only Korean law firm to be recognized as “Tier 1” in all 16 areas surveyed for Korea.  In addition, we maintained our “Tier 3” ranking in the Regional International Arbitration category, which was evaluated across the Asia-Pacific region.

The Financial Services Commission (the “FSC”) recently announced its plan to introduce a mandatory bid rule, which would grant the minority shareholders of listed companies an opportunity to sell their shares when a change of control takes place through transfer of stocks.

On January 26, 2023, the Korea Fair Trade Commission (the “KFTC”) announced its 2023 Enforcement Plan (the “2023 Plan”).

On November 30, 2022, the Ministry of Employment and Labor (the “MOEL”) announced the Serious Accident Reduction Roadmap (the “Roadmap”).

The following bills, which are designed for user protection and fair trade in the digital asset industry, were proposed at the National Assembly in October and November 2022 (the “Bills”): (i) the “Proposed Act on the Restoration of Fairness in the Digital Asset Market and the Creation of Safe Trading Environment” and (ii) the “Proposed Act on the Regulation of Unfair Trade in Virtual Assets.”

As companies have recently been seeking various business activities to restructure their corporate governance and business structures, there is a growing interest in the protection of shareholders and investors.  As a result, legal procedures related to corporate management and regulations on related disclosures have been strengthened.

Since the Prosecutors’ Office (the “PO”) issued its first indictment for a violation of the Serious Accidents Punishment Act (the “SAPA”) on June 27, 2022, it has issued indictments on three separate cases on October 19 and November 3, 2022.

In August 2022, US President Joe Biden signed the CHIPS and Science Act of 2022 and the Inflation Reduction Act of 2022, and therefore, the two laws entered into force.  The two laws provide significant incentives to encourage semiconductor manufacturing in the US and wide-ranging incentives for climate change policies in areas including the clean and renewable energy industries.  As these laws may significantly affect Korean companies in the relevant industries, they must review the details and prepare for possible issues.

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.  The SAPA duties are imposed on each company’s “responsible management personnel” (the “RMP”) as defined by the SAPA, who must establish and operate the company’s safety and health management system, by allocating budget, personnel and organizational resources, to secure safety and health.

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.

In this article, we introduce the goals and tasks of the Presidential Transition Committee relating to digital finance, digital economy, and the media, prior to the inauguration of the 20th administration in May 2022.

The presidential term of President Yoon Suk-yeol began on May 10, 2022.  On May 3, 2022, prior to the start of Yoon’s administration, the Presidential Transition Committee announced 110 national agenda items (the “National Agenda”).  President Yoon aims to minimize government intervention through multifaceted regulatory reforms—such as reforming the president’s direct oversight over “Regulatory Innovation Strategy Meetings”—with the ultimate goal of fostering “a dynamic economy led by the private sector and reinforced by the government.”  Meanwhile, prior to this, the Financial Services Commission (the “FSC”) announced its 2022 business plan that aims to “support economic growth through financial stability and financial development.”  In addition, the Financial Supervisory Service (the “FSS”) announced its 2022 business plan that aims to “achieve financial stability, financial innovation, and thorough protection of financial consumers” (collectively referred to as the “2022 Business Plan of the Financial Authorities”). 

  On May 3, 2022, the 20th Presidential Transition Committee announced the national vision and six major goals of the Yoon Suk-yeol administration as well as 110 national agenda items (the “National Agenda”).  President Yoon was inaugurated on May 10, 2022.  In particular, the National Agenda contains detailed measures to implement the environment-related pledges of President Yoon and the “climate and environmental policy direction for a sustainable future” announced by the Presidential Transition Committee on April 28, 2022.  The key issues are as follows. 

On May 10, President Yoon Suk-yeol took office as the 20th President of the Republic of Korea.  In line with the new government's corporate governance and capital market policies, relevant regulations are expected to change.  Timely strategic responses from businesses will thus become more important.

The “Big Blur”, a reference to the growing ambiguity between financial and non-financial sectors, is expected to continue in the near future.  As competition intensifies between existing financial institutions and big-tech companies, regulatory authorities are once again thinking of ways to reshape the regulatory framework to enhance the competitiveness of the financial industry.

On May 3, 2022, the 20th Presidential Transition Committee (the “Committee”) announced 110 national agenda items (the “National Agenda”) for the Yoon Suk-yeol Administration, which lists the new administration’s key policy objectives and direction.  They include detailed tasks relating to the field of fair trade under the objective of creating “a country where SMEs are at the center of the economy.”

Kim & Chang won the title of “South Korea National Law Firm of the Year” at the Chambers Asia-Pacific & Greater China Region Awards 2022.  This year is the third consecutive year since 2020 in which we have won this award. 

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.  We had the most listings out of all Korean law firms this year as well, demonstrating the expertise and extensive capabilities of our members. 

The public’s interest in minority shareholders’ rights has recently increased and the possibility of the National Pension Service’s (the “NPS”) taking derivative actions has garnered attention. Given this context, it is noteworthy that, in a recent derivative action case, the Supreme Court rendered a decision that broadly interprets directors’ obligations and responsibilities.

Kim & Chang ranked “Band 1” in 18 practice areas in Chambers Asia-Pacific 2022, once again receiving the most number of “Band 1” rankings among Korean law firms.  With the guide also naming 74 of our attorneys, patent attorneys and certified public accountants, the highest number of any Korea law firm, as “Leading Individuals,” we demonstrated our market-leading capabilities across a wide range of fields. 

In the 2022 edition of The Legal 500 Asia Pacific, Kim & Chang was the only Korean law firm to be selected as “Tier 1” in all 15 areas surveyed for Korea this year. In addition, we maintained our “Tier 3” ranking in the Regional International Arbitration category, which was evaluated across the Asia-Pacific region.

Kim & Chang won the “Country and State Awards: Korea” for the sixteenth consecutive year at the 2021 Who’s Who Legal Awards.

On October 28, 2021, Mr. Seung-Beom Koh, Chairman of the Financial Services Commission (the “FSC”) held a meeting with the banking industry, including the heads of commercial banks and representatives from industry associations, other regulatory bodies and research institutions.

As the size and social influence of online platforms and content provision businesses grow, various regulatory bills are being proposed and government authorities are accelerating discussions on establishing relevant policies.

On September 8, 2017, to promote joint growth of enterprises of all sizes and their collaborative efforts, the Korean Fair Trade Commission (“KFTC”) and the ruling Democratic Party of Korea held a consultation conference to step up efforts to eliminate unfair demands of technical information and/or misappropriation of technology by large conglomerates against small and medium-sized enterprises.

Potential Regulatory Compliance Systems to Enhance the Safe Control of Chemical Substances Continuing its policy to enhance the safe control of chemical substances, the Ministry of Environment (“MOE”) has been making legislative efforts to further heighten regulations of chemical substances. 

Several amendments to the Patent Act (“PA”) and the Design Protection Act ("DPA"), which passed the National Assembly on March 2, 2017, went into effect on September 22, 2017. We highlight below the major changes: 

In the recently published The Legal 500 Asia Pacific 2018, one of the legal industry’s most prominent guides to the legal market in Asia, Kim & Chang was the only Korean law firm to be top-ranked ("Tier 1") in all 16 practice areas surveyed.  Particularly noteworthy is the fact that our IP group was the only Tier 1-ranked practice to be recognized in the “Intellectual property – Patents and Trademarks” category.

On November 18, 2017, more than 40 Kim & Chang attorneys and K&C Friends (staff volunteers) of Kim & Chang Committee for Social Contribution volunteered in gimjang, a Korean tradition of preparing large quantities of kimchi for the winter.  Volunteers gathered early in the morning to learn how to do gimjang, and helped to make kimchi.  The kimchi prepared through this event was  donated to 100 foster care families supported by the Central Foster Care Family Center .

On December 9, 2017, Kim & Chang attorneys and K&C Friends (staff volunteers) of Kim & Chang Committee for Social Contribution together with youth members of Deulggot Youth World, an organization dedicated to caring for and educating children in need, delivered coal briquettes to a jjokbang town in Seoul’s Yeongdeungpo District.  Jjokbang towns are low-income neighborhoods comprised of tenement housings with small rooms that barely accommodate one person.   The volunteers delivered the briquettes to low-income families, the elderly living alone, and others in the jjokbang town with hopes to give them a warmer winter.

Kim & Chang was the only Korean law firm to receive “Outstanding,” the highest possible ranking, across all 18 practice areas in the 22nd edition of Asialaw Profiles 2018, a definitive guide to Asia-Pacific’s leading regional and domestic law firms.  Additionally, we were the only Korean firm to be awarded “Outstanding” in the Financial Services Regulatory and Intellectual Property practice areas. 

On October 31, 2017, Kim & Chang Committee for Social Contribution hosted its second Multicultural Family Law Academy for 2017, a “mobile” legal service for multicultural families in Korea, in the City of Gyeongsan in Gyeongsangbuk-do Province.  The first session was held in the City of Gimje in Jeollabuk-do Province earlier in 2017.

In the recently published Representing Corporate Asia and Middle East Survey, an annual ranking survey published by Asian-MENA Counsel, Kim & Chang won "In-House Community Firm of the Year" in 14 categories.

According to the latest "Asia 50," an annual special feature published by The American Lawyer, Kim & Chang ranked 11th among the top 50 Asia-Pacific law firms.

According to “Asia’s Top 50,” a feature story in the November issue of Asian Legal Business (ALB), Kim & Chang is the 12th largest Asian law firm, with the top 11 being China-based firms.  Our firm continues to lead this chart among Korean firms, and once again, this is the highest ranking for a Korean firm.  

Kim & Chang was once again named "Korea Law Firm of the Year" at the ALB Korean Law Awards 2017, a recognition we have won five consecutive times since these awards began in 2012.  Our firm was also once again honored with the highest number of recognitions at this year's ceremony held on November 16 at the Grand Hyatt in Seoul. 

On November 28, 2017, Kim & Chang was recognized as the "Asia-Pacific Firm of the Year" in the inaugural Asialaw Asia-Pacific Legal Practice Awards. 

In the 2018 edition of the prestigious legal guide, Chambers Asia-Pacific, Kim & Chang was the only law firm in Korea to receive top rankings (“Band 1”) across all 19 practice areas surveyed.

Supreme Court Affirms Lower Court Decision, Finding Invalid the Regulations on Foreign Exchange Report on Incorporation of Offshore Subsidiary by an Offshore Company On June 15, 2017, the Korean Supreme Court affirmed an appellate court decision which ruled that a Korean company is not guilty of a violation of the Foreign Exchange Transactions Act (the “FETA”) for failing to file a foreign exchange report after its offshore branch office established an offshore subsidiary.  This Supreme Court decision is a milestone decision that requires a clear legal basis in relevant statutes for finance-related regulations. 

To step forward as an environment-friendly government, the Moon Jae-in Administration has announced its key environmental policies, including improving safety in chemical substances and household chemical products, and reinforcing implementation measures of the Paris Agreement.  Under the “sustainable development” paradigm, the new administration will continually promote new regulations to protect the environment and strengthen its enforcement of environmental regulations.

Lower Court Issues Favorable Decision for 27,000 KIA Motors Employees in an Ordinary Wage Case  On August 31, 2017, the Seoul Central District Court held for around 27,000 employees of KIA Motors ("KIA") in their claim seeking payment of unpaid allowances.  These allowances were not paid, because the defendant, KIA, had not included the employees' regular bonuses in their ordinary wages.

Kim & Chang has consolidated its position as the leading law firm in Korea ranking “Tier 1” across all six practice areas in the 2018 edition of IFLR1000 Financial & Corporate.  We are the only Korean firm to receive top tier rankings in all categories for 14 consecutive years.  In addition, IFLR named nine Kim & Chang attorneys as "Highly Regarded," two as "Market Leader," and one attorney as a "Rising Star."  According to IFLR, our firm "dominates the market and is routinely involved in the best mandates available across all practice areas."  

On September 28, at the prestigious third annual Asialaw Asia-Pacific Dispute Resolution Awards 2017, Kim & Chang was named "National Law Firm of the Year - South Korea," along with top recognition in one other major category. 

For the fourth year in a row, Kim & Chang is the only ranked law firm in Korea among the world’s largest law firms in the American Lawyer's “The Global 100" report.  

At the China Law & Practice Awards 2017, Kim & Chang won "South Korea Firm of the Year.”  This is the seventh consecutive year that our firm’s China Practice has received such recognition.  Further, we are the only Korean firm to be so named.   

Supreme Court Rules that Distributor's Sales Agents Are Distributor's Employees, Entitling Them to Severance Payment from the Distributor In a recent decision, the Supreme Court held that although a company (the "Distributor") executed service agreements with its sales agents (the "Sales Agents") who worked in the Distributor's retail space at a department store, the Sales Agents were the Distributor's "employees" as defined under the Labor Standards Act and entitled to statutory severance from the Distributor. Although the Sales Agents were subcontracted to the Distributor and received a sales commission for selling products on its behalf to customers, the Supreme Court ruled in favor of the Sales Agents.

The Amendment to the Chemicals Control Act (“CCA”), as proposed by the MOE and promulgated on December 27, 2016, is scheduled to take effect on December 28, 2017 (the “Amendment”). 

On February 15, 2017, the Korea Fair Trade Commission (“KFTC”) announced the Standard Distribution Agreement for transactions between suppliers and distributors in the food & beverage (“F&B”) industry. 

On May 15, 2017, Who’s Who Legal awarded Kim & Chang “Country and State Awards 2017: Korea.”  This is the twelfth consecutive year that the firm has received this recognition.

Kim & Chang is pleased to announce that it was named as “Pro Bono Law Firm of the Year” by Who’s Who Legal for our firm’s steadfast commitment to pro bono work and for providing phenomenal services in 2016.  Also, Kim & Chang is the only Asian law firm to be recognized as one of the top 10 leading law firms in the world for its pro bono services for four consecutive years. 

On June 15, 2017, at The International Legal Alliance Summit & Awards 2017, Kim & Chang received the Gold Award – the highest recognition – in the “Best Asian Law Firm 2017” category.   

In the recently announced Acritas “Asia Pacific Law Firm Brand Index 2017,” Kim & Chang was again recognized as a top 5 law firm brand in the AP region.  Our fourth ranking is the highest distinction earned by a local firm.  The top 3 firms are global firms with regional offices worldwide.

On May 4, 2017, Kim & Chang was named “South Korea Tax Firm of the Year” and “Asia Tax Transactions Firm of the Year” at the 2017 Asia Tax Awards. 

"Hyundai Merchant Marine Restructuring," one of Kim & Chang's 2016 representations, was among the 38 “Winning Deals” chosen by Asian-MENA Counsel for its annual “Deals of the Year” awards.  

Korean Supreme Court Issues Several Rulings on Whether a Foreign Company Doing Business in Korea May Be Found to Have a Permanent Establishment  In 2016, the Korean Supreme Court issued several rulings shedding light on its approach when analyzing whether a foreign company conducting business in Korea may be found to have a permanent establishment (“PE”). 

On January 5, 2017, the Korea Fair Trade Commission ("KFTC") announced its enforcement plan for 2017 (the "Plan"), and set out detailed policies to: (i) monitor and remedy anti-competitive structure and behavior; (ii) establish a healthy business system among large conglomerates and small and medium-sized enterprises (“SMEs”); and (iii) build a consumer-friendly environment promoting consumers’ rights.  

Ministry of Environment (i) Strengthens Safety/Labeling Standards for Potentially Risky Products and (ii) Introduces Biocides Act Modeled After EU’s Similar Regulation  On December 30, 2016, Korea’s Ministry of Environment (“MOE”) announced an amendment to the “Potentially Risky Product Designation & Safety/Labeling Standards” (“MOE’s Notice”), which strengthens the safety and labeling standards relating to potentially risky products, as well as the “Act on the Safe Control of Household Chemical Products & Biocides” (“Biocides Act”) modeled after the EU BPR (Biocidal Products Regulation) to regulate active substances and biocidal products.

In the 2017 edition of Chambers Global – a global-wide leading law firm directory, published by Chambers & Partners – Kim & Chang received top rankings (“Band 1”) in all 7 practice areas surveyed.

Kim & Chang was top ranked (“Band 1”) in all 18 practice areas surveyed in the 2017 edition of Chambers Asia-Pacific, a leading law firm directory of Asia-Pacific region, published by Chambers & Partners.  

For the 15th consecutive year, Kim & Chang was recognized as the “National Law Firm of the Year: Korea” at the IFLR Asia Awards 2017.

For the second consecutive year, Kim & Chang was recognized as the "Compliance/Investigations Firm of the Year" at the Asia Legal Awards 2017.  On February 22nd, “The Asian Lawyer” – an affiliate of ALM, a world-renowned legal media group – hosted the awards ceremony at Hong Kong’s Four Seasons Hotel, to honor Asia’s top lawyers, law firms, and in-house teams.  

Kim & Chang was named as “Korea Firm of the Year” in 19 practice areas in the 10th annual “Representing Corporate Asia & Middle East Survey,” which was conducted and announced by Asian-MENA Counsel magazine.  

Kim & Chang was ranked as the No. 1 M&A advisor in Korea - both by volume and deal count - with 110 deals worth USD 27.565 billion in the Bloomberg Asia-Pacific Legal Advisory M&A Rankings 2016.

According to the “Mergermarket M&A League Tables of Legal Advisors 2016,” Kim & Chang ranks as the No. 1 M&A advisor in South Korea by deal value and count (USD 22.994 billion and 80 counts).

In the midst of growing public concern over the health hazards of certain household chemical products,¹ concerns are now being raised about the safety of chemicals in other types of products, such as "quasi-drugs" (e.g., toothpastes) and cosmetics.    Primarily, these recent concerns focus on the health hazards associated with biocides contained in household products. In particular, Korean people are concerned about chemicals that were used as biocides in some humidifier sterilizers, such as chloromethyl-methylisothiazolone (“CMIT/MIT”).  

Kim & Chang has been named in the "Global 100," a special feature of The American Lawyer, a renowned US-based legal magazine, for three years in a row.  Our firm was ranked among the Top 100 firms in each of the following charts: 68th on the "Most Lawyers (rank by number of lawyers)", 59th on the “Most Revenue (rank by gross revenue)”, 46th on the “Most Profits Per Partners (rank by profits per partners).  Kim & Chang is the only Korean firm to be listed on these charts.

Ranked 10th among the largest 50 law firms based in the Asia-Pacific region - The American Lawyer’s Asia 50 (2016)

Kim & Chang was selected as one of the leading (Tier 1) tax advisory firms in Korea by World Tax 2017.

Kim & Chang was selected as the “Best National Firm for Work-Life Balance” at the Euromoney Asia Women in Business Law Awards 2016, hosted by Euromoney.

Kim & Chang was named as “Tier 1” in all 15 practice areas surveyed, according to the Legal 500 Asia Pacific (2017 edition), a leading global law firm directory published by Legalease, a UK legal publisher.

Kim & Chang was named as “Tier 1” in all five practice areas surveyed by IFLR1000 Financial & Corporate for the 13th consecutive year.

Kim & Chang was selected as “Outstanding” in 17 practice areas out of 18 areas surveyed and also selected as “Highly recommended” in one practice area, according to Asialaw Profiles 2017, a publication of Asialaw, affiliated with Euromoney.

Kim & Chang was recognized as one of the leading M&A firms in South Korea, named as a Tier 1 firm in the ALB (Asian Legal Business) M&A Rankings 2016, a feature article in the September 2016 issue of ALB.

Kim & Chang was selected as “Korea Law Firm of the Year” at China Law & Practice Awards 2016, an event hosted by China Law & Practice, an affiliate of ALM, a world-renowned legal media group.  Kim & Chang has been recognized as “Korea Law Firm of the Year” for sixth consecutive years.

Kim & Chang was selected as “National Law Firm of the Year - South Korea” at Asialaw Asia-Pacific Dispute Resolution Awards 2016, hosted by Asialaw, a legal media group, affiliated with Euromoney.

Much earlier than expected, on September 12, 2016, the Korean government notified the Hong Kong government of the Korean National Assembly’s ratification of the Korea–Hong Kong Tax Treaty (“Treaty”). On September 27, 2016, the Treaty entered into force.   

KFTC Begins to Enforce the Amended Consumer Dispute Resolution Standard to Reinforce Consumer Protection    On October 26, 2016, the Korea Fair Trade Commission (the “KFTC”) announced that it would enforce its amendment to the Consumer Dispute Resolution Standard (the “Standard” or such amendment the “Amendment”).