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Recent Developments

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Lee & Ko Seminar on the 'Analysis of Key Competition Law Court Precedent from the Second Half of 2021 and the First Half of 2022'
On November 15, 2022, Lee & Ko held an online seminar on the ‘Analysis of Key Competition Law Court Precedent from the Second Half of 2021 and the First Half of 2022.’

During the online seminar, experienced attorneys specializing in competition law analyzed the implication of key competition law court precedent during three sessions. 

In the first session, Mr. Byong Ki Chung discussed ‘Key Court Precedent in Collusion,’ where he presented five major cases including the 2014 Korean Medical Association Strike, the Korean Pediatricians Association Moonlight Children’s Hospital and Animal Feed collusion cases and on two other cases involving shareholder derivative litigation. Mr. Chung examined the topics of anti-competitiveness of group action in the medical services market, the criteria for deciding whether actions by business associations are prohibited, prior to the revision of the Monopoly Regulation and Fair Trade Act (“MRFTA”), whether the exchange of information between competitors could be permissible prior to the revision of the MRFTA, shareholder derivative litigation for collusion (involving the CEO), the criteria for determining the liability of management (including outside directors) for compensatory damages and the need for establishing internal compliance controls.

In the second session, Ms. Miji Lee discussed ‘Key Court Precedent in Unfair Trade Cases’ examining the Supreme Court’s first ruling on corporations providing unreasonable benefits to special parties (family members of conglomerate owners), and future enforcement trends and precautionary measures for practitioners.  

In the third session, Ms. Jong Youn Han discussed ‘Further Key Court Precedent’ providing an analysis on the Supreme Court’s first ruling on exclusions for the application of the ‘Act on Fair Transactions in Large Retail Business’ and examined in detail the criteria for determining whether there is a superior bargaining position. Ms. Han then presented on the ‘Act on Fair Labeling and Advertising Act,’ explaining the criteria for judging false advertising for ads involving discounts and the meaning of the Supreme Court precedent on the exclusion period.
2022.11.15
Hosting of '2022 8th Lee & Ko M&A Forum'
On 8 November 2022 (3pm), Lee & Ko hosted ‘2022 8th Lee & Ko M&A Forum’.

This year's forum, which was also broadcast live through Zoom, received great response from clients engaging in M&A business to the extent that offline participation was fully booked and its application was closed early in one day, while recording a large number of attendees of 613 (125 offline and 488 online). This year’s success is the result of accumulated appreciation on Lee & Ko M&A Forum, prepared with high dedication and months of work by Lee & Ko M&A team to provide high-quality analysis and information on timely topics in line with the M&A trend.

In Session 1, Ho Joon Moon and Ji Hyeong Park from Lee & Ko carefully reviewed recent important case precedents in the field of M&A under the theme of 'Recent precedents that have influenced M&A practice'. They emphasized the importance of accurate and specific contractual language in negotiating and concluding M&A contracts.

In Session 2, Seong Chan Hong and Joo Young Lee from Lee & Ko introduced the methods of attack and defense used in a hostile M&A situation with exciting manner in a battle-and-defense format, at the same time sharing useful tips on shareholders' meeting held in management dispute situation.
 
2022.11.08
"Room for Debate" - Seoul ADR Festival, November 2022
On 8 November 2022, Lee & Ko hosted the Room for Debate webinar as part of the Seoul ADR Festival.  We invited six well-respected arbitration practitioners to square off in a series of three short one-on-one debates.  This is a new format that we were experimenting with for the first time.  Each debater had only eight minutes to present a case and refute the arguments of the opposing debater.  The entire program lasted approximately one hour.

Moderators:  Robert Wachter and Grace Yoon from Lee & Ko

Benjamin Lissner (CMS) v. Sharon Chong (Skrine)
Resolved: That virtual merits hearings should be the standard unless practical circumstances or an agreement of the parties require a hearing in-person.

Steven Lim (39 Essex Chambers) v. Nikolaus Pitkowitz (Pitkowitz & Partners) 
Resolved: That merits hearings should give greater priority to oral arguments from counsel than testimony from factual witnesses.

Dana Kim (Herbert Smith Freehills), and David Isidore Tan (Rajah & Tann/Lee & Ko)
Resolved: That users would benefit if arbitration rules included a mandatory mediation stage

2022.11.08
Seminar on “Indonesian Market Trends for Korean MNEs with Indonesian operations and Tax Issues and Dispute Resolution Related to Korea-Indonesia Cross-border Transactions”
On October 31, Lee & Ko co-hosted a seminar titled “Market Trends for Indonesia Operation and Tax Issues with Dispute Resolution Related to Korea-Indonesia Transactions” with KOTRA(Korea Trade Investment Promotion Agency) and KOFOTI (Korea Federation of Textile Industries).

In this seminar, the topics include Recent Indonesian market trend, Tax audit procedures in Indonesia and recent trends, Tax litigation procedures with recent trends, and Introduction to Advance Pricing Agreement (APA) and Mutual Agreement Procedure (MAP) and recent trends prepared by the Manager of KOTRA Asia Team, Mr. Yeonho Chang, Mr. Steve Minhoo Kim, and Ms. Ye-jin Oh from Lee & Ko and Mr. Ponti Partogi from HHP Law Firm, a member of Baker & McKenzie.

Mr. Yeonho Chang provided useful information for Korean companies to deal with tax audits by explaining the tax audit procedures and providing recent tax trends by the Indonesian tax authorities under the title of “Tax audit procedures in Indonesia and recent trends”.

Mr. Steve Minhoo Kim explained the importance of APA and MAP as measures to resolve double taxation issues facing Korean Multinational Enterprises and provided useful insight on recent trends with a successful case that Lee & Ko handled recently under the title of “Introduction to APA and MAP and recent trends”.

Ms. Ye Jin Oh, together with Mr. Ponti Partogi, explained Indonesian Tax appeal and litigation process with recent statistics and recent trends in transfer pricing disputes in Indonesia under the title of “Tax complaints and litigation procedures with recent trends”.
2022.10.31
Hosting of "The 2nd ESG Forum"
Lee & Ko recently co-hosted “The 2nd ESG Forum” with KCAB International and CMS on October 6, 2022.

With the subject “ESG, Fight of Flight”, Lee & Ko’s Kyunghoon Lee moderated a lively discussion with panel members Tong Keun Seol and Sunyoung Kim from Lee & Ko, who spoke on hot topics in the ESG field, including the EU Corporate Sustainability Due Diligence Directive and ESG disputes, and Matthew Nortcliff from CMS.
 
During the first session, Mr. Seol gave an in-depth presentation titled “EU Corporate Sustainability Due Diligence Directive, How to Prepare for the Due Diligence” on the target and applicable scope of the EU Directive, as well as issues to consider when setting up an internal compliance system, entering into contracts, and conducting the due diligence itself.
 
During the second session, Ms. Kim gave an insightful presentation regarding "Patterns in ESG-related Disputes" during which she delved into Korean as well as foreign cases in which human rights, labor, and environmental matters such as greenwashing were at issue. 
2022.10.06
Webinar on ‘Key Changes to United States Tax Law - The Inflation Reduction Act of 2022’
Lee & Ko and Andersen held a webinar titled ‘Key Changes to United States Tax Law ‒ The Inflation Reduction Act of 2022’ on Tuesday, September 20, 2022.

In this webinar, Andersen’s specialists Mary Duffy, Heather Harman, Bryan Collins, and Nigel Matu presented some of the key changes to the United States federal tax law that may impact Korean companies doing business in the United States, Korean investors as well as other relevant parties. After the presentation, Lee & Ko’s foreign attorney Steve Minhoo Kim gave a brief summary and explanation in Korean and Jung-hong Kim and William Ronald Parks participated in panel discussion.
2022.09.20