By Kim Dong-uk The cryptocurrency fever that has shaken the world since the end of last year has been arousing people's interest in blockchain technology and letting them know what it is. Recently, many platforms utilizing the technology have emerged, meaning that it is gradually becoming a part of our everyday life, not simply a… Continue reading [THE KOREA TIMES_김동욱 변호사] Privacy issues in blockchain technology
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[THE KOREA TIMES_신채은 변호사] Time to adopt negative regulatory system
By Shin Chae-eun You have invented a new technology with world-changing capabilities. As it stands, there are no regulations surrounding this new technology. The question then becomes how can the invention be commercialized in compliance with regulations that do not exist yet? A key thing to consider in a situation such as this is the… Continue reading [THE KOREA TIMES_신채은 변호사] Time to adopt negative regulatory system
[THE KOREA TIMES_최선민 변호사] A legal perspective matters for innovation
By Choi Sun-min "Simple can be harder than complex." This is a famous quote from the late Steve Jobs. Innovation comes from simple ideas. The cars in science fiction movies like "Minority Report," "Blade Runner 2049," "The Fifth Element," etc., all have something in common. There are no mirrors outside the car. If a car… Continue reading [THE KOREA TIMES_최선민 변호사] A legal perspective matters for innovation
[THE KOREA TIMES_엄윤령 변호사] The legal status of online game items in Korea
By Eom Yoon-ryung Computer games, which used to be regarded as simple amusements, have evolved to offer a whole other world to the players of today. Along with these developments, there has been a change in the perception of in-game items (or virtual goods), which once were lost forever when the machine was turned off.… Continue reading [THE KOREA TIMES_엄윤령 변호사] The legal status of online game items in Korea
[THE KOREA TIMES_김상준 회계사] Tax for ‘sharing economy’
By Kim Sang-jun A sharing economy is an economy based on products and services being shared and used by several people. Specifically, it means that a person with sufficient goods, production facilities and services can rent them out to others, thus constituting shared consumption. Some top successful U.S. companies in the sharing economy include Airbnb… Continue reading [THE KOREA TIMES_김상준 회계사] Tax for ‘sharing economy’
[THE KOREA TIMES_박주홍 변호사] Development of fintech and Korean government’s position
By Park Ju-hong Fintech is a new word that comes from the fusion of "financial" and "technology". Mobile banking and mobile payment technologies, which many people use nowadays, are examples of fintech. Korea has strengths in the IT field, but it is true that the international competitiveness of the finance sector is inferior to that… Continue reading [THE KOREA TIMES_박주홍 변호사] Development of fintech and Korean government’s position
[THE KOREA TIMES_심창현 변호사] Why Uber is having hard time in Korea
By Sim Chang-hyun Uber, the leading global car-sharing platform, is having hard time in Korea. The company started business here in 2013. As elsewhere, Korean taxi drivers have been resistant. Unfortunately, Uber Korea was unable to withstand this pushback. In March 2015 it suspended Uber X operations after facing regulatory setbacks from local and central… Continue reading [THE KOREA TIMES_심창현 변호사] Why Uber is having hard time in Korea
[THE KOREA TIMES_손가람 변호사] What’s all this about General Data Protection Regulations?
By Shon Ga-ram Recently, there has been a controversy about Facebook users' personal information being leaked. Although it has not been decided whether Facebook was neglectful, Facebook suffered discredit for failing to act responsibly to protect the personal data of its users. The data, it has been suggested, was used to sway opinions in the… Continue reading [THE KOREA TIMES_손가람 변호사] What’s all this about General Data Protection Regulations?
[THE KOREA TIMES_김동욱 변호사] Significant meaning in Switzerland’s ICO Guidelines
By Kim Dong-uk On February 19, the Swiss Financial Market Supervisory Authority (FINMA) announced its ICO Guidelines. They have attracted attention from all over the world for two reasons. These guidelines are the first attempt to regulate initial coin offerings (ICOs) in the world. Japan revised its "Act on Settlement of Funds" last year to… Continue reading [THE KOREA TIMES_김동욱 변호사] Significant meaning in Switzerland’s ICO Guidelines
[THE KOREA TIMES_엄윤령 변호사] What does Korean law say about identity theft?
By Eom Yoon-ryung Identity theft is the deliberate use of someone else's identity, usually as a method to gain financial advantage or obtain credit and other benefits. Under Korean law, just pretending to someone else is not a punishable offence, but there are acts commonly involved in identity theft for which regulations have been put… Continue reading [THE KOREA TIMES_엄윤령 변호사] What does Korean law say about identity theft?