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Doing Business in Korea한국에서의 비즈니스: 성공 전략 가이드

In collaboration with the In-House Counsel Forum, Asia Business Law Journal presents a comprehensive guide for global companies exploring opportunities in Korean markets.

INVEST IN KOREA: A GLOBAL COMPETITOR AND GROWTH HUB

Won-Young Jung

President of In-House

Counsel Forum

South Korea stands as a beacon of economic development, having transformed from a war-torn nation in the mid-20th century to a global powerhouse today. Known as the “Miracle on the Han River,” Korea’s rapid growth in the 1960s and 1970s is complemented by its resilience in overcoming significant challenges like the Asian Financial Crisis – the latter exemplified by the success of Koreans’ “gold collection campaign”, which made headlines globally.

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Doing business in Korea: Data privacy compliance

The Personal Information Protection Act (PIPA), enacted in 2011, is the primary legislation governing the processing of personal information in South Korea. The Personal Information Protection Commission (PIPC) serves as the main regulatory body enforcing the PIPA and developing related policies. … (Read more)

Hwan Kyoung Ko
Partner
Lee & Ko

Sunghee Chae
Partner
Lee & Ko

Kyung Min Son
Partner
Lee & Ko

Employment structures in South Korean labour law

In Korean, the phrase for forming a relationship is “gwanggye-reul maetneunda”, which literally means “to tie a relationship”. In contrast, ending a relationship is expressed as “gwanggye-reul kkeuneunda”, or “to cut a relationship”. This linguistic contrast – to cut rather than a more symmetrical term like “untie” – offers a glimpse … (Read more)

Taejoon Bae
Partner
LIN

David Yang
Partner
LIN

Data privacy laws in Korea’s fintech landscape

As South Korea’s financial sector undergoes rapid digital transformation, the government has prioritised data utilisation through policies that balance innovation with consumer protection. Central to this effort are the MyData licensing regime under the amended Credit Information Use and Protection Act (Credit Information Act) and reforms to the network … (Read more)