Recent Developments

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.

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.

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.
 

On April 26, 2024, Lee & Ko jointly held the seminar titled ‘Response & Strategies for Trade Secret Disputes and Technology Theft’ with a globally renowned U.S. law firm Gibson, Dunn & Crutcher LLP. In this Seminar, experts from both firms provided practical guidelines for in-house counsels on how a company can properly handle trade secrets and prevent technology theft. In the first session, Ms. Nicole (JungEun) Lee of Gibson Dunn presented on topics related to managing trade secrets and preventing misappropriation (titled U.S. Trade Secrets Litigation Updates and Takeaways for In-house Professionals) and Ms. Angelique Kaounis of Gibson Dunn answered questions afterward. In the second session, Mr. Heon Lee and Mr. Hong Seon Kim of Lee & Ko presented on latest trends in trade secret misappropriation suit decisions and response strategies for in-house counsels. 

Lee & Ko IP Group boasts over 120 professionals with expertise in various aspects of IP. In particular, former IP High Court judges and IPTAB examiners can provide invaluable advice to stakeholders, and most of the Group’s professionals has advanced degrees in science and technology to provide the most effective and prompt legal services in global IP disputes and advisory works alike.

Amidst keen interest and participation, the Customs Practice Group of Lee & Ko hosted the ‘2024 Seminar for Customs Regulatory Discussions’ on Friday, 29th March, 2024.

Miscellaneous domestic and global corporate clients involved in the export, import, and trade sectors attended the seminar. The customs experts of Lee & Ko were met with an array of questions, comments, discussions raised by the participants on a broad range of topic, including 2024 customs/trade law updates, preferential tariff system, Korea Customs Service (“KCS”) trend/practice.

Among the tripartite seminar, the first session covered ‘Noteworthy Amendments to Customs, Trade, Foreign Exchange laws’, presented by Marvin. Marvin, with working experience a licensed customs broker before being admitted to the Korean Bar and joining Lee & Ko, is a up-and-coming customs attorney. He covered the complex web of customs related laws and regulations with ease, making ample use of key cases and easy-to-understand explanations.

The second session covered ‘Utilization & Fresh Issues of the Preferential Tariff System(Quota, FTA, etc.)’, presented by JW Cho. JW is a partner, with expertise in the customs profession thanks to multiple years of service in KCS(Seoul, Incheon Customs Offices) and Lee & Ko Customs Practice Group. Based on his experience within the public and private sectors, he elaborated on practical checkpoints (and, not to speak of, red flags) which should be noted for export and import business enterprises to ameliorate their trade compliance scheme and reduce customs-related concerns.

The third and final session covered ‘Recent Korea Customs Service’s administrative trends and implications’, jointly presented by Seung-Hak Shin and Young-Gee Park. Prior to joining Lee & Ko as an expert customs consultant, Mr. Shin had accumulated much practical knowledge working in KCS and multiple regional customs offices. Drawing from his knowledge, he shared highly practical points on the recent customs audit trend. As the lead partner of Lee & Ko Customs Practice Group and a former senior ranking officer in KCS, Mr. Park delineated essential parts of the recent customs criminal investigation trend for multinational & Korean businesses.

At the end of the line, the seminar wrapped up after a Q&A session with the Lee & Ko speakers and participants.

Young-Gee Park, the lead partner of Lee & Ko Customs Practice Group, commented that Lee & Ko “sincerely wishes that this seminar would be a beneficial reference point for customs and trade operations, for both domestic and global corporations”, and JW Cho voiced thoughts “to provide continuous updates for clients doing business in Korea, considering the ever-changing landscape of the Korean customs/FX/trade areas and pertinent KCS trends”.

On February 28, 2024, Law Times reported that Lee & Ko’s Pro Bono Committee delivered donations to four organizations such as “Heavenly Dream School”, an alternative school for North Korean defectors, “Together Goodwill Employment Support Center for North Korean Defectors” supporting North Korean defectors to settle in the society, “Open Door Youth Foundation”, a family community for children and youths abandoned due to abuse and “Myoungryun Orphanage”, a community living institution for children and youths. The donations delivered by Lee & Ko to these four organizations have been raised through the “Matching Grant Method” in which Lee & Ko Pro Bono Committee has additionally supported the same amount gained as the profits of “Lee & Ko Bazaar Sharing Love” hosted last year.