By Choi Sun-min I like the color amber. It is the color of my firm's logo, so I can see it on the wall every morning when I arrive at work. It is my favorite baseball team's color as well. I like it more at night because it makes me feel warm, but I prefer… Continue reading [THE KOREA TIMES_최선민 변호사] The future of amber in traffic lights
By Eom Yoon-ryung Between February and May this year, Korean investigators conducted search and seizures at some of the leading cryptocurrency exchanges on suspicion of various charges. Recently the scope of the investigations has expanded to include companies that have held initial coin offerings (ICOs). Unlike general regulatory procedures, in criminal procedure, investigative agencies… Continue reading [THE KOREA TIMES_엄윤령 변호사] Penalties for cryptocurrency crimes
Bitcoin and other cryptocurrencies have been in the public spotlight in the last 18 months due to the drastic fluctuations in their values. Although still limited, the number of places where cryptocurrencies can be used as payment has been growing in recent times. However, most countries lack specific regulations on the issuance or use of… Continue reading [IFLR_안찬식 변호사] South Korea: Confiscation of Bitcoin criminal assets
By Ahn Chan-sik Officially, it is Korean government policy that all initial coin offerings (ICOs) are prohibited. However, as a lawyer, I believe Korea lacks legal grounds to make illegal all kinds of ICOs, especially in the case of utility token ICOs, because there is as yet no particular law to regulate and prohibit them… Continue reading [THE KOREA TIMES_안찬식 변호사] Are overseas initial coin offerings beyond Korean law?
By Shon Ga-ram The European Union's General Data Protection Regulation (GDPR) came into effect on May 25, 2018. The purpose of this law is to regulate the storage, processing and transfer of the personal data of individuals living in the EU, but it also affects companies outside the EU who have anything to do… Continue reading [THE KOREA TIMES_손가람 변호사] Many differences between Korean, EU data protection laws
By Kim Sang-jun The issue of whether accounting fraud has been committed is now being hotly debated among a certain bio-industry company, its accounting firm and the Financial Supervisory Service. The last accuses the first of fraud. However, the company protests that its accounting practices were in full compliance with International Financial Reporting Standards (IFRS),… Continue reading [THE KOREA TIMES_김상준 회계사] Accounting fraud and accounting standards
GDPR impact on Korea — panel discussion Jun 25, 2018 Google Campus Seoul Chan Sik Ahn [left] explained the differences between GDPR and PIPA (Private Information Protection Act, the Korean regulation equivalent, launched in 2011) and the disruptive technological changes in the legal world. Brian Chun [right] reflected on his experiences at Hanwha Techwin, being vocal about the urgency to start a… Continue reading GDPR impact on Korea — panel discussion_안찬식 변호사
By Sim Chang-hyun Ride-hailing services like Uber, Lyft, Grab, etc. have had an innovative impact on the conventional taxi industry. They have improved the quality of transport services by competing with taxi companies. They contribute to the development of IT technology through their apps, which also make other businesses grow such as those processing transport… Continue reading [THE KOREA TIMES_심창현 변호사] Employment status in ride-hailing services
By Park Ju-hong In Korea, many start-ups, such as those involved in block-chain technology, are forming in the flow of the fourth industrial revolution. Most of these companies begin only with a name and a plan. And most of them think, "legal advice is not a problem because our company is just a startup." But… Continue reading [THE KOREA TIEMS_박주홍 변호사] Do startups need legal advice?
Korea has no laws and regulations which are specifically apply to cryptocurrencies. The Financial Supervisory Commission (FSC) and other Korean regulatory bodies have issued a number of press releases on basic government policies regarding, among other things, initial coin offerings (ICOs), cryptocurrency exchanges, and Ponzi schemes and other fraudulent activities involving bitcoin and other cryptocurrencies.… Continue reading [IFLR_안찬식 변호사] South Korea: Cryptocurrency regulation
