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Recent Developments

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Lee & Ko News

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Awards Ranking
ALB Asia Top 15 ESG Law Firms for Two Consecutive Years
Lee & Ko has been selected as one of the “2024 Asia Top 15 ESG Law Firms" by Asian Legal Business for the second consecutive year.

This selection highlights the achievements of a one-stop, full service provided by the firm’s ESG Group, an integrated network of its ESG-related teams dedicated to Environment, Occupational Safety & Health, Compliance, Corporate, Labor, and more. It is noted that the Group has garnered positive reviews for its commitment to advancing ESG regulations in Korea, reflecting its efforts in participating in various government service projects to address legal and institutional shortcomings within the ESG framework and devise proactive measures to bolster support for the ESG industry. In recent years, unwavering endeavors to help enhance the global competitiveness of Korean companies have also been made by the Group, offering preemptive measures in response to anticipating full-fledge due diligence legislation on supply chains, such as the EU Corporate Sustainability Due Diligence Directive, on a global scale, as well as undertaking extensive ESG due diligence projects to analyze risks found in their business activities with human rights impact assessments, etc. and to identify areas for improvement. In addition, the Group has successfully represented companies in greenwashing investigations to safeguard their brand value and market trust, while remaining committed to addressing emergent negative connotations associated with greenwashing in society.
 
Asian Legal Business, a subsidiary of Thomson Reuters, publishes legal industry magazines for the Asia-Pacific region and selects the top 15 law firms in the ESG field in Asia based on experience, expertise, and evaluations from clients and peers.
2024.06.20
Seminar/Event
Seminar on ‘Harmonious Development of Regulatory Frameworks for Personal and Financial Information’
On June 19, Lee & Ko hosted a seminar on ‘Harmonious Development of Regulatory Frameworks for Personal Information and Financial Information’ together with the Korea Association of Personal Data Professionals (KAPP) and the Financial Security Institute (FSI).  

The event brought together a diverse group of experts from regulatory bodies and the financial industry to address the evolving landscape of data protection in finance.

The seminar opened with an insightful keynote address on ‘Development of MyData and the Data Ecosystem’ delivered by Vice Chairperson Jang Hyuk Choi of the Personal Information Protection Commission (PIPC). Lee & Ko’s partner Kyung Min Son provided valuable insights on practical compliance strategies for financial institutions under the amended Personal Information Protection Act. Son emphasized the critical need for companies to adapt their practices in response to increased penalties and heightened regulatory oversight.

Following the presentations, a dynamic panel discussion explored the future of personal information, financial information, and the MyData ecosystem. The panel included representatives from the PIPC, the FSC, and industry experts. Lee & Ko’s partner Hyun Jeong Cha contributed to the discussion with valuable observations on the importance of balancing innovation and risk management when operating the MyData system.

This seminar underscores Lee & Ko’s ongoing commitment to guiding clients through the intricate interplay of technology and regulation in the financial sector. As the regulatory landscape continues to evolve, Lee & Ko remains at the forefront, providing expert advice to help businesses navigate these complex changes effectively.
2024.06.19
Awards Ranking
Highest Ranking in Patent Litigation by IAM Patent 1000 2024 for 10th Consecutive Year
Lee & Ko has been named to this year’s IAM Patent 1000 in Patent Litigation, receiving the highest band ranking of Gold for the 10th consecutive year and “Highly Recommended” in Patent Transactions again for the third year running. In addition, 10 attorneys and patent attorneys at Lee & Ko have been listed as “Recommended Individuals” across all categories including Patent Litigation, Patent Prosecution, Patent Transactions, etc. in recognition of their exceptional expertise in the patent field. 

 
Litigation: Un Ho Kim, John Kim, Jae Hoon Kim, Keum Nang Park, Hwan Sung Park, Julie Shin, Choong Jin Oh, and Hayoun Chun
Prosecution: Sungsoo (Sean) Hwang
Transactions: Julie Shin, Hayoun Chun, and Yong Jin Cho

Lee & Ko’s IP Practice Group provides legal services catered to clients in responding to various IP-related disputes in the United States, Europe, Japan, and other countries by leveraging its extensive overseas network while securing the best outcomes for clients in consultancy and IP-related disputes through a nuanced understanding of both technology and law. Notably, the Group has successfully claimed a favorable judgment on behalf of Coway in a patent infringement case involving water purifiers with compensation for damages worth KRW 10 billion and advised LG Energy Solution on IP-related issues in transactions for establishing a joint venture overseas. Beyond assisting Korean companies in infringement proceedings before the US district courts, the Group excels in delivering superior legal services to clients across all areas of IP law, encompassing patent litigation, transactions, etc.  

IAM is a global patent publication released every year that conducts surveys and interviews with patent experts and law firms all over the world and ranks the best law firms and experts in the patent field by country and sector, based on submissions and client feedback.
2024.06.11
Awards Ranking
Attorney Vera Eun Woo Lee, chosen as MIP’s ‘Top 250 Women in IP’ for two consecutive years


Lee & Ko attorney Vera Eun Woo Lee in the Intellectual Property Group was chosen as a ‘Top 250 women in IP’ for two consecutive years.
 
Since joining Lee & Ko in 2004, Vera Eun Woo Lee has been handling a wide variety of matters in Intellectual Property field, including patents, trademarks, copyrights, domains, unfair competition, IP licensing and transaction (M&A), and work-for-hire inventions. Recently, she led the first-ever Supreme Court ruling recognizing copyright infringement against imitation mobile games. 

MIP(Managing IP) is a specialized legal magazine in the IP field published by Euromoney, a leading publication in England, which conducts annual surveys of experts in the IP field worldwide and highlights female IP lawyers who have produced exceptional results in the past year.
2024.06.07
Seminar/Event
Webinar on ‘Digital Health and AI: Regulatory Innovation’
On Tuesday, June 4th, LEE & KO hosted a webinar titled ‘Digital Health and AI: Regulatory Innovation’.

This webinar aimed to provide companies developing digital health products and services using AI with insights into the legal issues they need to be aware of during the planning, development, and commercialization stages. Additionally, it discussed recent regulatory innovations in the digital health industry and shared perspectives on AI-related regulations.

In the first session, Attorney Sung-Il Bang presented on "Legal Issues Related to AI Services in Digital Healthcare", focusing on the emergence and utilization of generative AI. He emphasized the importance of thoroughly reviewing legal issues related to evolving regulations from the early planning stages.

In the second session, Attorney Min-Soo Kim discussed "Regulatory Innovation in Digital Healthcare", covering key aspects of the Digital Medical Products Act set to be implemented next year, the deregulation plans by the Bio-health Innovation Committee, and the integrated review and evaluation of innovative medical devices as well as the provisional registration system for health insurance.

In the third session, Attorney Sung-Hee Chae covered "AI Regulatory Trends and Prospects in Digital Healthcare". She reviewed current regulations on AI development and use in healthcare, highlighted government policies on AI ethics and reliability, and analyzed their potential impact on future policy-making and legislative discussions by regulatory bodies.

The webinar underscored the rapid advancements in AI and digital healthcare technologies, along with the accompanying legal challenges and regulatory landscape. Recognizing the integration of AI and digital health into everyday life and various industries, LEE & KO is dedicated to promptly identifying and analyzing regulatory trends and industry issues. This commitment enables us to provide clients with thorough and tailored legal advice that addresses their specific needs.
2024.06.04
Seminar/Event
Seminar on 'Domestic and International Regulatory Frameworks for Generative AI'
Lee & Ko, in collaboration with the Future of Privacy Forum (FPF), hosted a seminar on ‘Domestic and International Regulatory Frameworks for Generative AI’ on May 23, 2024.

Our keynote speakers, Vice Chairperson Choi Jang Hyuk from the Personal Information Protection Commission (PIPC) and Christina Montgomery, Vice President and Chief Privacy & Trust Officer of IBM, shared invaluable insights on the PIPC's key initiatives and the necessity of establishing AI governance and adopting open innovation models, respectively.

During the first presentation, Ko Hwan Kyoung, an attorney at Lee & Ko, discussed the recent developments in AI governance and regulations in Korea, analyzing the domestic regulatory trends in key AI-related areas such as personal information and finance. He also thoroughly reviewed the current domestic legislation, including the proposed Act on Development of AI and Establishing Trustworthy AI. Mr. Ko emphasized the need to seek a practical regulatory framework that ensures the creativity of the private sector, allowing AI to become a driving force for growth and innovation.

In the second presentation, Josh Lee Kok Thong, Managing Director of FPF Asia-Pacific, provided useful information on the generative AI regulatory frameworks in Asia-Pacific countries and the relationship between AI regulation and personal information protection.

The presentations were followed by an engaging panel discussion moderated by Park Kwang Bae, an attorney at Lee & Ko, and Josh Lee Kok Thong from FPF. The panelists shared valuable opinions and insights on the topic.

In response to the various legal challenges brought about by AI, Lee & Ko recently launched the Tech & AI team, consisting of attorneys and advisors with expertise in IT and data fields, to perform organic collaboration among relevant teams such as the TMT Group and the IP Team. The TMT Group at Lee & Ko is committed to actively responding to the related legal demands with its top-notch professionals.
 
2024.05.23

Press & Releases

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[The Bell] [Lawyer Profile] Lawyer Kyungchun Kim of Lee & Ko, Key Figure in the Corporate Advisory Sector with ‘Positivist Approach’
July 8, 2024
An interview with Kyungchun Kim of Lee & Ko was published in The Bell. The Bell introduced Kyungchun Kim as “a key figure in the M&A and corporate advisory sectors, having built expertise in M&A legal advisory services through participation in various deals led by major corporations and private equity funds." In the interview, Kyungchun Kim expressed his ambition to provide legal advice that can truly benefit clients through a ‘positivist approach.’
2024.07.08
[The Korea Economic Daily] Lee & Ko Recruits Yang Ho Park, Former Head of Legal Affairs Division at the Ministry of Justice
On July 2, 2024, the Korea Economic Daily reported Lee & Ko’s recruitment of Yang Ho Park, former head of the Legal Affairs Division at the Ministry of Justice (MOJ). Mr. Park is an expert in criminal law who has accumulated his expertise and experience in various criminal areas as he was in charge of special investigation and cases related to social issues in Prosecutors’ Offices throughout the nation, including the Public Investigation Department of the Seoul Central District Prosecutors’ Office, Special Branch of the Ulsan District Prosecutors’ Office, Special Investigation Department of the Uijeongbu District Prosecutors' Office, while also in charge of customs cases in Incheon District Prosecutors' Office. He has also served in key posts at the Ministry of Justice as he was in charge of personnel business of the prosecution system and prosecutors at the MOJ’s Prosecution Service Division, enactment and amendment of civil law, review and advisory of laws regarding national institutions at the MOJ’s Office of Legal Counsel, and general management of AI legal technology policies such as legal counselling services at the MOJ’s Legal Affairs Division. Mr. Park will be responsible for legislative support to various corporate-related criminal cases and legislations in areas of corporate, finance, serious accidents, fair trade, customs etc. at Lee & Ko’s criminal group. 
2024.07.02
[Yonhap News] Ministry of SMEs and Startups Provides Legal Support for Startups Entering Global Market with Lee & Ko
On July 2, 2024, the Yonhap News reported that Lee & Ko will provide legal support to startups entering the global market with the Ministry of SMEs and Startups. The Ministry of SMEs and Startups held a MOU and inauguration ceremony of advisory body for startups with law firms such as Lee & Ko on July 2 to establish a cooperative legal support system for startups. Law firms such as Lee & Ko plan to provide customized, free legal support regarding execution of contracts with overseas companies, protection of intellectual property rights etc. to startups by utilizing their abundant expertise in foreign law and networks such as overseas offices. 
2024.07.02
[The Bell] [The Bell League Table] ‘Downturn in Corporate Restructuring‘ Lee & Ko Successfully Tops the List
July 1, 2024
In ‘The Bell’s League Table’ for the mergers, spin-offs, and joint ventures category announced for the first half of 2024, Lee & Ko has topped the list with 8 transactions, amounting to KRW 2.3 trillion in the aggregate transactional volume. The Bell noted, “Earlier in the first quarter of 2024, Lee & Ko reclaimed the top spot in this category for the first time in 8 years, and has successfully secured the first-place position for this quarter again.” The Bell explained, "Advising both SK Energy's spin-off of SK Enterm and EcoPro BM’s merger with EcoPro Global played a decisive role”, and added, “Lee & Ko also provided legal advice for deals including the merger through absorption of Douzone Bizon by Douzone Holdings (KRW 269.1 billion) and the merger between Woori Asset Management and Woori Global Asset Management (KRW 220.3 billion).”
2024.07.01

Deals & Cases

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Landmark Ruling: Supreme Court Overturns PIPC Sanctions Against E-commerce Platform Operators.
We are pleased to inform you of a landmark ruling by the Supreme Court of Korea which has significant implications for e-commerce platform operators within the country. In a recent case, the Supreme Court has overturned the sanctions imposed by the Personal Information Protection Commission (PIPC) against major online marketplaces, Naver (South Korea’s leading internet platform company) and Gmarket (formerly eBay Korea). This pivotal case clarified that sellers on e-commerce intermediary platforms (the “E-commerce Seller”) are not considered ‘personal information managers’ of the platforms providing intermediary sales services (the “E-commerce Platform”) under the Personal Information Protection Act (PIPA). This ruling marks a transformative moment for privacy law enforcement related to E-commerce Platforms in South Korea.

We will delve into the details of the Supreme Court’s decision and discuss its broader impact on the e-commerce landscape.

1. Overview of the Case
First, operators of the E-commerce Platform provide a service that enables members (including both sellers and buyers) to trade goods online. During the provision of this service, seller members utilize the personal information of buyer members, provided by the E-commerce Platform operators, to deliver products and carry out various sales-related tasks. In this context, the PIPC has interpreted that E-commerce Platform operators are ‘data controllers’ under PIPA, and that seller members are ‘personal information managers’ who process personal information under the direction and supervision of the E-commerce Platform operators. Based on this presumption, the PIPC found that E-commerce Platform operators breached the necessary safety measures required under PIPA by allowing seller members access to the seller system using only an ID and password, without employing additional secure authentication methods. As a result, the PIPC issued an order to seven (7) major platform operators to implement secure authentication methods and conduct regular training for their seller members (the “PIPC Order”).

Among the E-commerce Platform operators subject to the PIPC Order, Naver and Gmarket filed lawsuit actions against the PIPC seeking to annul the PIPC Order. We, Lee & Ko, have represented Naver and Gmarket from the court of first instance to the final decision by the Supreme Court.

2. Summary of the Supreme Court’s Ruling
The main issue presented to the Supreme Court concerned whether E-commerce Sellers qualify as ‘personal information managers’ for E-commerce Platform operators under PIPA. This distinction was critical, as PIPA’s requirement for data controllers to implement secure authentication methods specifically applies to ‘personal information managers.’ Consequently, the legality of the PIPC Order depended on this determination.

In this regard, the Supreme Court annulled the PIPC Order for the following reasons, determining that E-commerce Sellers do not qualify as the ‘personal information managers’ of the E-commerce Platform operators:

   - a ‘personal information manager’ is not limited to those who have an employment contract with a data controller. It includes any person who, under laws or contractual terms, acts under the direction and supervision of a data controller to carry out certain tasks;  
   - “third parties,” who receive personal information from data controllers and utilize it for their own business purposes and benefits, are distinct from and cannot coexist with personal information managers; and
   - the E-commerce Sellers receive personal information of buyer members from the E-commerce Platform operators and process that information according to their own discretion for their business operations. They are thus ‘data controllers’ and ‘third parties’ themselves rather than ‘personal information managers’ of the E-commerce Platform operators.

3. Significance of the Supreme Court’s Ruling
The significance of this case lies in the fact that it provided the first specific judicial interpretation of PIPA regarding the definition and scope of a ‘personal information manager,’ and the critical distinction between a ‘personal information manager’ and ‘third party.’ This ruling is pivotal not only for the e-commerce platform industry but also establishes a benchmark for future cases across various sectors involving the determination of who qualifies as a ‘personal information manager’ and who is subject to security measures requirements as per PIPA.

Prior to this ruling, the PIPC had used its guidelines as the legal basis to interpret E-commerce Sellers as ‘personal information managers’ for E-commerce Platform operators. However, this ruling clearly established that the PIPC’s guidelines cannot serve as grounds for enforcement actions. Nonetheless, it should be noted that independent of the Supreme Court’s decision, major E-commerce Platform operators such as Naver and Gmarket have proactively enhanced their security measures through self-regulatory efforts to safeguard the personal information of buyer members.

Furthermore, this ruling is also significant as it clearly delineates the responsibilities related to personal information processing between E-commerce Platform operators and their seller members. This provides critical guidance for E-commerce Platform operators on how to structure their compliance and governance frameworks to protect personal information effectively.


This ruling marks the first decision issued by the PIPC has been overturned since it became a central administrative agency in 2020. Lee & Ko features a Data Privacy & Cybersecurity Group comprised of the largest team of personal information protection and information security experts in Korea. Our comprehensive legal services encompass consultations, legal investigation responses, and litigation representation concerning personal information matters. If you require advice or assistance concerning privacy-related matters, please feel free to contact us at your convenience.
2024.02.07
Brain Asset Management and KY Private Equity’s Acquisition of Preferred Shares of SK Pharmteco
On October 20, 2023, Lee & Ko successfully represented Brain Asset Management Co., Ltd. and KY Private Equity Co., Ltd. in their acquisition of approximately 9.21% of the preferred shares of SK Pharmteco Inc., originally a wholly-owned subsidiary of SK Inc. prior to the acquisition, based in Delaware, USA (the “Target”) through (i) Opus 1st Inc., a special purpose company established by an institutional PEF with Brain Asset Management and Korea Development Bank as its general partners, (ii) Brain SP Generalized Private Investment Trust No. 45 and Brain SP Generalized Private Investment Trust No. 46, each an investment trust established and managed by Brain Asset Management, and (iii) Opus 4th Inc., a special purpose company established by institutional PEFs with KY Private Equity as their general partner ((i) through (iii) collectively, the “Investors”) (collectively, this “Transaction”). 

This Transaction was a pre-IPO transaction in anticipation of a public listing of the Target shares on the Nasdaq market, and aside from the high deal value of USD 300,210,071 as the aggregate purchase price, the deal structure itself was quite complicated as it involved issues such as the establishment of multiple investment trusts and special purpose companies as investment vehicles. This Transaction also involved the execution of a shareholders agreement to coordinate the commercial understandings between the Investors and SK Inc., the original shareholder, and there were further complex issues to be resolved in light of the regulations and procedures under the Financial Investment Services and Capital Markets Act, the Monopoly Regulations and Fair Trade Act and the Foreign Exchange Transactions Act, as well as tax issues both in and out of Korea and antitrust filing issues in the US and EU. Despite these complexities, Lee & Ko was able to provide effective advice to reach a successful consummation of this Transaction within a short period of time. Lee & Ko was involved in the Transaction and served as transaction counsel in all aspects of this Transaction, from the selection of preferred bidders at the auction stage through the review of transaction structure, establishment of PEFs and special purpose companies, foreign exchange report filings, tax review, antitrust filing review, preparation/negotiation of the share subscription agreement and shareholders agreement, execution and closing.
2024.01.04
Release by the U.S. Government of IRA Guidance on FEOC
Lee & Ko has advised the Korean Government and global battery businesses on the proposed guidance on the interpretation of “foreign entity of concern” (FEOC) requirements for Section 30D clean vehicle credit of the Internal Revenue Code, released by the U.S. Department of Energy and the Department of the Treasury on December 1, 2023.

Considered one of major achievements of the Biden Administration, the Inflation Reduction Act of 2022 has profound impacts on both exports to and investments in the United States by Korean battery manufacturers with competitive edges in the global market. Lee & Ko’s prompt advices help Korean companies considering cooperation with Chinese counterparts, who may fall within the definition of FEOCs, to develop and operate strategies that can satisfy IRA requirements.
2023.12.01
Review of S Insurance’s Co-Insurance
In the context of the introduction of the IFRS17 and the K-ICS and the consequential emphasis on sound management of insurance capital, the exploration of co-insurance has emerged as a strategic avenue. Subsequently, around 2020, regulatory foundations for co-insurance transactions were incorporated into insurance supervisory regulations. In March 2023, the financial regulatory authorities further supplemented this framework by formulating comprehensive guidelines for the handling of co-insurance operations.

Distinguished by asset transfer and asset retention models, insurance companies have traditionally favored the simplicity of the 'asset transfer' structure in their co-insurance transactions. However, “S Insurance” has recently engaged Lee & Ko to explore the initiation of co-insurance policies employing a relatively intricate yet less liquidity-burdening 'asset retention' structure, distinguishing itself from prevailing practices with foreign reinsurers.

Lee & Ko played a pivotal role in providing legal counsel, meticulously reviewing transactional conditions, and advising the client in a direction that aligns with the compliance parameters of the fundamental asset retention co-insurance structure and the aforementioned operational guidelines. This signifies a noteworthy contemplation of the less conventional asset retention co-insurance structure within the South Korean landscape.
2023.11.30
Advising on the legislation of laws regulating actuaries
Despite the pivotal role actuaries play in shaping insurance terms, premiums, and ensuring accounting transparency, there is currently no distinct and independent legal framework governing the actuarial profession in South Korea. Instead, pertinent regulations are integrated into the Insurance Business Act and its subordinate statutes. Notably, a regulatory vacuum exists concerning actuaries associated with public pension institutions and other financial entities beyond insurance companies.

The Insurance and Reinsurance Practice Group at Lee & Ko has collaboratively engaged with the firm's legislative consulting team to amalgamate the collective expertise of accomplished attorneys and professionals in representing the Institute of Actuaries of Korea. The firm conducted an exhaustive analysis of legislative precedents, delving into legislative intentions, aiming to deliver optimal advice tailored to the client's needs throughout the legislative process. Consequently, in November 2023, Ms. Joo Kyung Yoon of the People Power Party, a member of the 21st National Assembly, submitted the draft of the Actuary Law, marking the initiation of the legislative process.
2023.11.30
Lee & Ko wins all 10 cases for domestic blockbuster drug Dukarb®
Lee&Ko successfully defeated the generics’ challenge against Boryong’s patent covering Dukarb®, which is a domestic blockbuster drug, before the IPTAB and subsequently the IP High Court. On November 30, 2023, the IP High Court ruled in favor of the patentee in all 10 cases, including both scope confirmation actions and invalidation actions, filed by dozens of generic companies, including Arlico pharmaceuticals, against the Dukarb® combination product patent. 

Dukarb tablet, as a combination of Kanarb® (fimasartan) with amlodipine, is a blockbuster drug that has shown excellent antihypertensive effects and generated sales of KRW 40 billion in 2022. In 2021, more than 45 domestic generic companies filed scope confirmation actions and invalidation actions to assert non-infringement and invalidity of the Dukarb® patent, but the patentee prevailed in all cases. The generic companies subsequently filed 10 appeal cases to the IP High Court, but the IP High Court upheld the decisions of the IPTAB on November 30, 2023.

The generic companies alleged invalidity of the patent at issue on various grounds such as novelty, inventiveness, lack of the description requirement, and incomplete invention, while simultaneously claiming non-infringement on the grounds of compound differentiation and salt change. Therefore, it was essential for the patentee to present a consistent and strategic response to the various claims made by different generic companies. Despite unfavorable case precedents on combination drug patents, Lee & Ko successfully argued for inventiveness of the patent at issue by focusing on the synergistic effects of the combination product. Likewise, in the negative scope confirmation action cases, Lee & Ko presented persuasive claim construction and equivalent infringement based not only on the claim language but also on the specification and the common technical knowledge of the pharmaceutical industry. Ultimately, Lee & Ko prevailed in all 10 cases, again demonstrating the team’s expertise in healthcare and IP.
2023.11.30
Lee & Ko’s Antitrust and Competition Practice Group conducts mock dawn raid on multinational corporate group
Lee & Ko’s Antitrust and Competition Practice Group conducted a mock dawn raid and comprehensive antitrust risk assessment of a multinational corporate group (“Group A”) under the Monopoly Regulation and Fair Trade Act (“MRFTA”). 

During the mock dawn raid, Lee & Ko’s Antitrust and Competition Practice Group used the same methods and procedures as the Korea Fair Trade Commission (“KFTC”) in its investigations and offered additional solutions for deficiencies that were discovered during Group A’s response to the mock dawn raid.

In addition, Lee & Ko’s Antitrust and Competition Practice Group collected materials and conducted interviews with key executives and employees of Group A’s three affiliate companies. Using the information gathered during the mock dawn raid, Lee & Ko’s Antitrust and Competition Practice Group confirmed the compliance of the companies with the MRFTA and provided measures for improving compliance in necessary areas. 

The mock dawn raid conducted by Lee & Ko’s Antitrust and Competition Practice Group is invaluable as it helps to prevent executives and employees with limited knowledge and experience on the MRFTA from committing acts during a dawn raid that could be considered obstruction and providing guidance on cooperating with a KFTC investigation while protecting the right to defense. Group A utilized the mock dawn as an opportunity to check and strengthen compliance management in all areas of its business. 

Following the recent reorganization of the KFTC in separating its investigation and policy divisions, establishing proper procedures for responding to KFTC dawn raids is of the utmost importance as the investigative function of the KFTC has been strengthened through the reorganization and led to an increase in the number of dawn raids. 

Lee & Ko’s Antitrust and Competition Practice Group actively utilizes its extensive expertise in responding to large-scale dawn raids to ensure companies are prepared for dawn raids, and more importantly, thoroughly and comprehensively managing MRFTA related risks. 
2023.11.15

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Research

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