Brief description of Koean competition laws

Views : 27 views

In Korea, unfair trade practices and anti-competitive behavior of enterprises are regulated under Monopoly Regulation and Fair Trade Act (“MRFTA”), which was enacted on December 31, 1980 and which have underwent several revisions since its enactment. Article 1 of MRFTA sets forth the purpose of the Act as preventing the abuse of market dominance and …

Scope of activities allowed for a liasion office

Views : 67 views

One question that is frequently asked by foreign companies intending to build business presence in Korea is the scope of activities that a liaison office could undertake and the legal requirements for setting up such an office. Obviously, as the term “liaison office” denotes, a liaison office cannot be involved in any revenue generating activities …

social insurance system in Korea outlined

Views : 61 views

One of the questions we are frequently asked from a foreign company establishing a branch or corporate subsidiary in Korea is the level of social insurance contribution which such branch or subsidiary is require to make.  So, we briefly introduce below the social insurance systems of Korea.   Korea has four social insurance components, which …