Corporate Disputes Executive Severance in South Korea:Why a Shareholder Resolution Is Essential Taejin Kim · Managing Partner, Atlas Legal Seoul High Court 2025Na205650 · Supreme Court 2023Da269818 · Changwon District Court 2023Gadan111202 Key takeaway: In South Korea, a director’s severance and retirement pay fall under Article 388 of the Korean Commercial Act, so without a…
White-Collar Crime · Specific Economic Crimes Employment Restriction Under Korea’sSpecific Economic Crimes Act Taejin Kim · Managing Partner, Atlas Legal Supreme Court 2022Du44354 · Constitutional Court 2021HeonBa46 · Seoul High Court 2021Nu35485 Contents 1. What is the employment restriction under Article 14 of Korea’s Specific Economic Crimes Act? 2. Who is subject to the restriction…
Inheritance & Forced Heirship Forced Heirship in South Korea: When Are Secured Guarantee Debts Excluded from the Calculation Base? Soyoung Park · Representative Attorney, Atlas Legal Supreme Court 2024Da308079 · Supreme Court 2017Da230338 Key Answer: Under South Korean law, a decedent’s liability as a physical guarantor (mul-sang boejeung) — i.e., where the decedent mortgaged his…
Core Answer: Under South Korean criminal law, embezzlement (업무상횡령) arises from a provisional payment (gajigeuem) withdrawal when three elements are met: (1) the funds were used for non-corporate purposes, (2) no interest rate or repayment date was agreed upon, and (3) the board of directors resolution required for the transaction was not obtained (Supreme Court,…
Core Answer: When a fraudulent conveyance avoidance action succeeds and the debtor is subsequently declared bankrupt, the restored assets fall into the bankruptcy estate. The Supreme Court in Case 2025Da210073 (May 20, 2026) held that a capital gains tax claim arising before the bankruptcy declaration constitutes an estate claim (jaedan chaekwon) under Article 473(2) of…
Core Answer: A foreign court attachment order has no legal effect in South Korea. The Supreme Court of Korea in Case 2025Da211405 (May 14, 2026) held that a foreign court’s provisional conservatory measure (such as an attachment order) does not qualify as a ‘final foreign judgment or its equivalent’ subject to recognition under Article 217(1)…
Core Answer: Under South Korean insurance law, a death benefit policy on a minor’s life entered into by the parent as legal representative constitutes a conflict-of-interest transaction requiring the appointment of a special agent (teukbyeol daeriin) under Article 921 of the Civil Act. Changwon District Court 2025GaHap10707 held that the death benefit portion of such…
Core Answer: In South Korea, copyright in a commissioned work (work-for-hire contract / dogeup contract) vests initially in the contractor (recipient of the commission — the creator) by default, under the creator-first principle of the Copyright Act (Article 2(2)). Even where the client funds and initiates the project, copyright remains with the contractor unless: (1)…
Core Answer: In South Korean pre-sale advertising disputes, whether advertising constitutes false or misleading representation is assessed from the perspective of ‘an ordinary consumer with average attention’ based on the overall impression conveyed (Supreme Court 2009Da4787 et al.). Advertising that presents uncertain facts as confirmed, or that materially overstates the likelihood of realization, violates the…
Core Answer: Under South Korean corporate law, a CEO has a duty to establish an internal control system and supervise employees’ compliance with applicable laws and regulations. The Supreme Court in Case 2017Da222368 held that failure to establish such a system — even where the CEO did not directly order or receive reports of the…
