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Strengthening fields such as criminal, sex crimes, and juvenile crimes... Based on field experience, he has a broad spectrum of activities, including serving as a human rights policy officer at the Supreme Prosecutors' Office and a construction counselor at the Embassy in China. Daeryun Law Firm announced on the 27th that it has further strengthened its expertise in the criminal field by recruiting attorney Kyung-won Yoon, a former chief prosecutor. Attorney Kyung-won Yoon has served as chief prosecutor (trial) at the Seoul High Prosecutors' Office, as well as chief prosecutor of the Women and Children's Crime Investigation Department at the Busan District Prosecutors' Office. He is a practical lawyer who was in charge of all criminal fields while working at major prosecutors' offices across the country, including Daegu District Prosecutors' Office, Seoul Central District Prosecutors' Office, and Suwon District Prosecutors' Office. While working at the Busan District Prosecutors' Office, he directly led sensitive human rights crimes such as sexual violence, domestic violence, and juvenile cases, and worked to protect victims and ensure fair procedures. At the Ansan Branch of the Seoul Central District Prosecutors' Office and Suwon District Prosecutors' Office, he focused on investigating public security, tax, customs, and economic crime cases, gaining deep insight and experience in social cases. At the Daegu District Prosecutors' Office and the Gwangju District Prosecutors' Jangheung Branch, he demonstrated a wide range of investigative capabilities while handling a variety of criminal cases, including violent crimes, pharmaceuticals, and maritime cases. While serving as a human rights policy officer at the Supreme Prosecutors' Office, Attorney Kyung-won Yoon oversaw the prosecution's human rights protection policy and has maintained a perspective that emphasizes the balance between guaranteeing the human rights of suspects and protecting victims throughout criminal proceedings. In addition, he served as head of the Legal Education Department at the Legal Research and Training Institute and as a counselor at the Embassy in China, serving as an international criminal. and legal cooperation affairs, and has experience in legal networks and policies encompassing both domestic and foreign countries. He has also been active in the Korean-Chinese Law Society and the Unification and North Korean Law Society, and has also continuously participated in research in the field of international law and unification law. Attorney Kyung-won Yoon will reside at Daeryun Law Firm's main office located in Park One, Yeouido, and will be in charge of criminal cases across the country, including criminal cases, sex crimes, juvenile crimes, and taxes. Attorney Yoon said, "Based on my experience in criminal cases so far, I will determine the substantive truth of the case. He expressed his ambition by saying, “I want to provide legal assistance that provides practical help to those who desperately need the protection of the law.” Kim Kuk-il, managing attorney of Daeryun Law Firm, said, “The recruitment of Attorney Yoon will be an opportunity to expand Daeryun’s service spectrum, not only in the criminal and trial fields but also in international law and human rights policy,” adding, “We will establish ourselves as a trusted law firm through legal services that combine publicness and expertise.” Law Leader Reporter Son Dong-wook twson@lawleader.co.kr Law Leader - Daeryun Law Firm recruits former Chief Prosecutor Kyeong-won Yoon (Click here) Sports Seoul - Daeryun Law Firm recruits former Chief Prosecutor Kyeong-won Yoon (Click here) MBN - Former Chief Prosecutor Kyung-won Yoon joins Daeryun Law Firm as Chief General Counsel (Click here)

Daeryun Law Firm announced on the 28th that it signed a strategic business agreement (MOU) with Canvas & People Co., Ltd., operator of AI-based tax and tax analysis platform Tax Canvas, to build an integrated legal-tax advisory service model through AI technology linkage. The signing ceremony was held the day before (27th) at Daeryun's main office, Park One in Yeouido, and Daeryun CEO Kuk-il Kim, lawyer Sang-wook Oh, accountant Su-jin Park and Canvas & People Representatives from both companies, including CEO Ha-young Choi and PM Jin-seo Noh, attended. Canvas & People is an innovative TaxTech company established in 2022, and operates the AI tax analysis platform 'Tax Canvas' as its main service. Tax Canvas is a B2B SaaS (software as a service for businesses) that automatically analyzes a vast amount of tax laws, precedents, and regulations through AI to diagnose a company's tax risks and presents response logic. Seoul Fintech Lab 2025 It is proving practical results and innovation, including selection of tenant companies in the first half of the year and signing of technical cooperation with Jeongseong Tax Firm. This MOU aims to practically combine the technology and expertise of both companies. Through this agreement, we plan to gradually promote the following: △ linking the 'Tax Canvas' AI engine to Daeryun's tax and corporate advisory service △ jointly developing an automatic corporate tax risk diagnosis report △ upgrading similar precedent analysis services for tax appeals and lawsuits △ establishing a 'law + tax' convergence AI consultation model. Canvas & People CEO Choi Ha-young said, "Tax Canvas is innovatively reducing the time for tax experts to search for data and construct logic. “Through this agreement with Daeryun, we will be able to meet the complex needs of corporate customers by automating the corporate tax risk diagnosis function, which is essential in the legal advisory process, and providing a one-stop advisory service that integrates legal affairs and tax,” said Daeryun CEO Kim Kuk-il. “We will improve the scalability of services for corporate customers and secure international competitiveness by ultimately establishing a convergence advisory system for law and tax,” he explained. Eunhye Lee (zhses3@joseilbo.com)[View full article] Tax Ilbo - Daeryun Law Firm, MOU with ‘Canvas & People’, an AI-based tax platform operator (link) Sejeong Ilbo - Daeryun Law Firm signs MOU with tax platform operator ‘Canvas & People’ (Go here)

Recently, the government announced the 'First Plan to Rationalize Economic Punishment' and formalized the abolition of breach of trust in the criminal law. As the breach of trust regulations, which had failed to pass the threshold despite several discussions in the past, are being abolished for the first time in 70 years, the business community is rejoicing, while all attention is focused on the direction of future alternative legislation. Until now, the crime of breach of trust has been considered the biggest fetter on corporate management due to the ambiguity of the requirements such as 'violation of duty' and 'property damage'. In fact, according to a study by the Korea Chamber of Commerce and Industry, the acquittal rate for breach of trust and embezzlement was 6.7%, which is more than twice the average for all criminal offenses (3.2%), which shows the uncertainty of legal principles that make it difficult to guarantee results even in prosecution by the prosecution. This uncertainty acts as a fear that even good-faith management judgments may be subject to criminal punishment, which discourages management and prevents companies from pursuing new business or making bold investments such as M&A. The ‘judicialization’ was solidified. This is in contrast to the cases of major developed countries such as the United States and Germany, which mostly prioritize civil resolution procedures. So what should companies prepare after the abolition of breach of trust? It is expected that the alternative legislative direction to be pursued within the year will be to severely punish malicious crimes such as embezzlement through the Act on the Aggravated Punishment of Private Interests, etc., but leave responsibility for general management judgment to civil relief procedures such as shareholder representative lawsuits. Accordingly, companies first need to thoroughly prepare for civil risks that will be strengthened, such as shareholder representative lawsuits. If the criminal complaint/indictment card disappears, shareholders will more actively use shareholder representative lawsuits to hold directors accountable. Therefore, in the decision-making process of the board of directors, companies must secure procedural legitimacy by recording and managing in detail not only the final conclusion, but also the information on which the judgment was based, the contents of the review, and opposing opinions. If you have sought advice from an external expert, it is important to clearly state the details. Second, the importance of D&O Insurance will increase. To prepare for the possibility that the frequency and scale of civil lawsuits will increase after the abolition of breach of trust, companies should reexamine the limits and scope of coverage of existing insurance. This can be the most practical safety measure to protect individual executives from potential litigation risks and help them focus on their business activities with confidence. In the future, it is necessary to pay attention to new products that will appear in the market, such as special provisions related to shareholder representative lawsuits. Lastly, the compliance monitoring and internal control system must be upgraded to the next level. Beyond simply formal procedures, we must institutionalize a prior review process that simulates legal risks that may arise when making major investments or M&A decisions in advance and transparently reports them to the board of directors. Through regular board education, we must not only make directors clearly aware of their fiduciary duties and scope of responsibility, but also actively inform shareholders of these efforts to advance corporate governance and secure long-term trust. Small and Medium Business Team[View full article] I took a breather when the crime of breach of trust was abolished... When companies prepare for ‘civil risk’ (Shortcut)

On the 21st, BJ Juice Seyeon won the first trial of a damages lawsuit against cyber Wrecka YouTuber ‘Pteokga’. Following the Jang Won-young case, which revealed the identity of the operator of YouTuber's 'Taldeok Camp', this is another case through the US court's 'discovery system (discovery of evidence)'. However, despite such a powerful solution, the hundreds of millions of won in litigation costs incurred due to complex procedures such as cooperation with local US law firms have been considered an insurmountable barrier to entry for most YouTubers and influencers. Accordingly, Daeryun Law Firm recently opened an office in New York, US. It was announced on the 27th that unnecessary duplicate costs were eliminated through the 'one-stop overseas defamation response service'. The main content is that Daeryun's local U.S. lawyers collaborate with domestic lawyers based on the identity information secured in the U.S. court to provide integrated support for all processes of civil and criminal litigation. American attorney Son Dong-hoo, who leads Daeryun's U.S. subsidiary, said about the key to cost reduction, "The existing discovery system had a dual structure of paying fees to domestic and overseas law firms, but Daeryun had a local law firm affiliated with the New York office. “The lawyer directly performs all processes,” he explained. “Through this, unnecessary duplicate costs and inefficiencies arising from the communication process are fundamentally blocked, and the benefits go entirely to the client’s cost savings.” Daeryun also added that they are designing the most efficient and realistic procedures for their clients by subdividing litigation strategies based on federal or state laws depending on the nature of the case and the location of the platform headquarters. The discovery system they use is designed to overcome the limitations of existing international cooperation methods. It is meaningful. Even if the domestic police requested cooperation through a criminal complaint, the provision of information was often refused or took a long time due to the nature of the U.S. legal system, which does not consider ‘factual defamation’ or ‘insult’ as crimes. On the other hand, the discovery system is carried out by demonstrating the need to identify the perpetrator for litigation in Korea through civil procedures and issuing a subpoena directly through the court. Based on its professional understanding and strategic know-how about this discovery process, Daeryun handles the entire process. We are establishing and operating an optimal strategy to maximize efficiency and significantly shorten the period. This system goes beyond simply relieving personal damage and performs a social function of suppressing the spread of false information online and protecting the public interest. In addition, Daeryun plans to introduce a system that allows clients to communicate directly with American lawyers and transparently check progress through its own application 'MY Daeryun', which will be released within the year, to relieve anxiety caused by language and distance barriers. Attorney Son said, "The purpose of this service is simply to overseas “It goes beyond representing lawsuits to actually protect creators and influencers from perpetrators who cause pain by hiding behind anonymity,” he said. “We will contribute to creating a healthy cyber culture by providing reasonable legal services and do our best to prevent any more unfair victims.” Reporter Kwon Byeong-seok (bsk730@fnnews.com)[View full article] Financial News - Discovery system captured by Taldeok Camp and Buk... Daeryun, 'one-stop response service' possible (Go here) Law Leader - Discovery system captured by Taldeok Camp and Twit...Daeryun ‘One-stop overseas defamation response service’ available (Go here) KBC Gwangju Broadcasting - Discovery system captured by Taldeok concentration camp and gangsters... Daeryun ‘one-stop service’ available (link)

A trainer in his 30s who was put on trial on charges of intentionally making physical contact while providing massage and corrective exercise while guiding a teenage female member at a gym was found not guilty. According to the legal community on the 27th, the 1st Criminal Division of the Western Branch of the Daegu District Court acquitted a man in his 30s, Mr. A, who was put on trial on charges of violating the Act on Sexual Protection of Children and Adolescents on the 25th of last month. Mr. A, a gym trainer, will be released in 2023. He was indicted on charges of molesting B, a teenage member at a gym, by approaching him and offering to give her a massage. However, Mr. A claimed that he only gave B a massage to help her stretch and correct her posture, and that he did not molest her. Ms. B also took issue with turning off the lights in the gym during the massage, but Mr. A refuted that he turned off the lights because the deadline was approaching. The court found Mr. A's claim more credible than Ms. B's and declared her not guilty. This is because Ms. B's statements regarding the number, date, and method of molestation continued to change, but Mr. A maintained a consistent statement. In addition, when Mr. A usually guided other members' exercise, he also did the same corrective exercises as he did for Ms. B, and the place where the massage was performed was also covered by CCTV, so it was judged that Mr. A could not be considered to have intentionally committed physical contact. Attorney Kang Hyeon-gu of Daeryun Law Firm, who represented Mr. A, said, "In a situation where Mr. A denies the charges, direct evidence is not available. If there is none, only the victim's statement serves as evidence of guilt, and in this case, the rationality of the statement and the objective circumstances are all taken into consideration to determine the case, and the fact that Mr. A had lived with the members without any problems for over 10 years, as well as the contradictions in Mr. B's statement, allowed him to be declared not guilty.” Busan reporter Jeong Cheol-wook[View full article] Trainer accused of molestation during massage ‘not guilty’… Court: “Victim’s statement is inconsistent” (link)

Article 33, Paragraph 2 of the Medical Service Act strictly limits qualifications for opening medical institutions to medical personnel, national and local governments, medical corporations, non-profit corporations, quasi-governmental organizations, etc., and Article 33, Paragraph 8 of the Medical Service Act prohibits the opening and operation of more than one medical institution. In addition, Article 20, Paragraph 1 of the Pharmaceutical Affairs Act stipulates that only a pharmacist or oriental pharmacist may open a pharmacy, and Article 21, Paragraph 1 restricts a pharmacist or oriental pharmacist to open only one pharmacy. However, with changes in technology and market structure, medical institutions and pharmacies with various operating forms and new profit structures are appearing, including existing MSOs (network hospitals), medical consumer cooperatives, and recently introduced factory pharmacies. When opening and operating a medical institution or pharmacy of this type, the issue of illegality under the above Medical Service Act and Pharmaceutical Affairs Act inevitably becomes an issue. When decisions regarding partnership, investment, and operation are made by several people, including non-medical personnel, in a medical institution, it must be reviewed whether the non-medical person is actually opening and operating the medical institution through the medical practitioner (commonly known as 'executive hospital'), whether it is the overlapping opening of the medical institution by the medical practitioner, and whether it is the accompanying license rental. Whether or not the act of opening a medical institution between a non-medical person and a medical person through an agreement such as a partnership constitutes an act of opening a medical institution by a non-medical person is determined by who has taken the lead in handling the opening and operation of the medical institution. Specifically, the basis is the entity that procured the opening funds, facilities and land, etc., the entity that made management decisions and personnel decisions, and the attribution of profits (whether in the form of regular salary). In the case of a medical corporation, there is a possibility of being recognized as an office-directed hospital, but the office-directed hospital must be recognized as a non-medical person opening and operating a medical institution by exploiting a medical corporation that only has an external form through illegal means. In other words, it is only recognized in a limited way in cases where a non-medical person abuses a medical corporation whose entity is not recognized due to lack of actual property contribution as a means of opening and operating a medical institution, or when the medical corporation's assets are unfairly leaked, thereby deviating from the public nature or non-commercial nature of the medical corporation. In the case of overlapping operation of a medical institution by a medical professional, the eligibility is determined by taking into consideration all circumstances, such as the entity of financing, such as the opening process and facilities or sites required for opening, the relationship between the person in charge of opening and other medical personnel designated as the actual establisher, the method of raising funds, the decision-making structure regarding management, the entity exercising command and supervision rights over practitioners, the form of distribution of operation results, and if there is a hospital management support company (MSO) operated by another medical professional, the amount of expenses incurred by the company and the transaction details. There are cases in which medical institutions are not recognized as overlapping operations if they are judged to be at the level of simple management support or investment. Non-medical personnel who open an office hospital or medical personnel who violate the regulations prohibiting multiple openings will be subject to heavy criminal punishment and administrative measures, and profits may be recovered under the National Health Insurance Act. Medical professionals who lend their names will also be subject to criminal punishment and administrative action. Looking at the example of pharmacies, there is a possibility that partnerships or investments between pharmacists and non-pharmacists, partnerships between multiple pharmacists, pharmacy franchise businesses, and operation of factory pharmacies through partnerships may be recognized as license rentals in violation of the one-person-one-site operation principle. The Pharmaceutical Affairs Act prohibits all acts of leasing a license, receiving a license, or arranging for it. Even if the borrower is a pharmacist, license lending may result in criminal punishment, administrative disposition, and recovery of unjust profits under the National Health Insurance Act. In addition to the criminal punishment and administrative disposition described above, there is room for additional problems to arise, such as tax-related disputes and civil disputes over operation and profit attribution. Therefore, if you wish to open and operate a medical institution or pharmacy through partnership, investment, or a new business model, you need to be mindful of whether there are elements that violate the Medical Service Act and the Pharmaceutical Affairs Act in various areas such as branding or franchising, capital investment and cost expenditure decisions, and management consulting services.[View full article] [Contribution] Legal issues to keep in mind when opening and operating new types of hospitals and pharmacies (link)

The amount of insurance fraud discovered has exceeded 1 trillion won for three consecutive years, emerging as a social problem. Particularly, special caution is required as a careless attempt to receive more insurance money in the event of a car accident or hospital treatment can lead to irreversible consequences. According to the Financial Supervisory Service, the amount of insurance fraud detected last year reached KRW 1.1164 trillion, of which fraud related to automobile insurance and accident and disease insurance accounted for more than 70% of the total. Attorney Kim Gwang-deok of Daeryun Law Firm said, "Special laws apply in the case of insurance fraud, so a more careful response is needed." “There is,” he explained. Q. What are the most common types of auto and medical insurance fraud? A. The most common form of auto insurance fraud is intentionally causing an accident or exaggerating the damage from the actual accident and charging excessive repair costs or settlements. Typical examples include unnecessary long-term hospitalization for minor accidents or demanding settlement money by adding additional passengers. In the case of medical insurance fraud, there are many methods of making up documents to make it seem like you received treatment that you did not actually receive, or falsely being hospitalized even when there is no need for hospitalization. Recently, there has been an increasing trend of organized fraud in which certain hospitals and patients collude to intensively provide expensive, non-covered treatments and collect actual loss insurance money.Q. What is the difference between the ‘Special Insurance Fraud Prevention Act’ and general fraud crimes?A. The general crime of fraud is committed when 'delivering property or obtaining property interest by deceiving a person', but the Special Act on Prevention of Insurance Fraud has a narrower and clearer scope by specifying as a punishment subject to 'the act of claiming insurance money by deceiving the insurer regarding the occurrence, cause, or details of an insurance accident' itself. The biggest difference is the level of punishment. According to Article 8 of the Special Act on Prevention of Insurance Fraud, a sentence of up to 10 years in prison or a fine of up to 50 million won is prescribed. Repeat offenders are subject to aggravated charges, and if the amount of gain is more than 500 million won, they can be sentenced to life imprisonment or up to 5 years in prison according to the Act on the Aggravated Punishment of Specific Economic Crimes, etc., so they are punished more severely than general fraud charges.Q. What punishment will you receive if you are accused of being an accomplice by following the recommendations of a hospital or vehicle maintenance company?A. Even if the person did not intend to do so, he or she may be punished as an accomplice if he or she tolerated the offer from the hospital or maintenance company or was fully aware that it was fraudulent and took advantage of it. It is not uncommon for people to complacently follow the lead thinking 'everyone else does this too' and end up receiving the same punishment as the main culprit. Insurance fraud is interpreted as an aggravating element of the crime of fraud. The court determines the sentence by comprehensively considering whether or not the person initiated the crime, the degree of participation, and the size of the profit obtained, but even simple participation can result in a fine or even imprisonment. If you have been wrongfully implicated, it is very important to prove that there was no intent and to legally explain the specific circumstances that led to your participation in the crime.Q. How should I make a statement to avoid any disadvantage when I receive a call from the insurance company's Special Investigation Unit (SIU) to come for an investigation? A. The investigation by the insurance company's Special Investigation Unit (SIU) can actually be seen as a previous stage of the police investigation. All statements at this stage are recorded and can be used as extremely detrimental evidence in future criminal proceedings. Therefore, it is absolutely prohibited to hastily deny the charges or to speculate and state facts that you do not remember. You must answer clearly that you do not know anything about anything you are not sure about, and carefully consider what legal consequences your statement may have. From this stage, it is safe to prepare for expected questions and determine the direction of your statement with the help of a lawyer. It is also a suspect's natural right to be investigated in the presence of a lawyer. Q. A solution that can be resolved through acknowledging some of the charges and reaching an agreement with the insurance company is: A. When it is difficult to deny a charge because there is clear evidence, it is important to acknowledge the crime and show sincere remorse. In particular, returning the entire amount of unfairly obtained insurance money to the insurance company and reaching an amicable settlement serves as the most important reason for reducing the sentence at trial. The key to reaching an agreement with an insurance company is not just returning money, but the process of getting the insurance company to submit an agreement requesting leniency from the suspect to an investigative agency or court. In the case of insurance fraud, the amount of damage is usually large, so settlement is often considered to avoid imprisonment. However, if there are multiple insurance companies, you must be careful because civil claims for refund of unjust enrichment may result. Reporter Lee Dong-oh (canon35@mt.co.kr)[View full article] The scale of insurance fraud has been in the '1 trillion won range' for three consecutive years... Can I get help from a lawyer if I get involved? (Shortcut)

A total ban without certification procedures and standards… A report was filed with the Fair Trade Commission stating that the Korean Bar Association's regulations on restrictions on artificial intelligence (AI) advertising, "possible violation of the Fair Trade Act," are excessive regulations and require sanctions. Daeryun Law Firm announced on the 22nd that it submitted a report on prohibited acts by business organizations containing the Korean Bar Association's violation of the Fair Trade Act to the Fair Trade Commission. Earlier this year, Daeryun unveiled 'AI Daeryun', an artificial intelligence-based legal service developed in-house, and began full-scale operation. In response, the Korean Bar Association expressed its intention to take disciplinary action, saying that it would take strict action after determining the facts. Daeryun later filed a constitutional appeal with the Constitutional Court, saying, “The Bar Association’s advertising regulations are infringing on the freedom to practice one’s profession.” Currently, the Constitutional Court has referred the case to the full court and is currently hearing it. According to Article 5 of the ‘Rules on Lawyer Advertisements’ established by the Korean Bar Association, lawyers, etc. can directly use programs such as artificial intelligence to allow consumers to use programs such as artificial intelligence. You cannot advertise in a way or content that allows you to use it or connects consumers to programs such as artificial intelligence. In addition, through Article 6 of the 'Regulations on Lawyer Advertising', which sets out specific details regarding the relevant rules, the Korean Bar Association stipulated that, in accordance with Article 5 of the Rules, lawyers, etc., who advertise the fact that they use artificial intelligence in their work, must register the relevant artificial intelligence system in advance in accordance with the Association's certification standards. Daeryun judged that the Korean Bar Association's regulation of artificial intelligence advertising directly violated the 'minimum regulation principle', which is a core principle of lawyer advertising regulation. In addition, the Korean Bar Association stipulates that advertising of lawyers' use of AI programs must follow the association's certification standards, but it was pointed out that the current lack of proper certification standards is resulting in the same result as a complete ban. Attorney Gye-Jun Son, who submitted a report to the Fair Trade Commission on this day, said, "Through AI technology, even information-vulnerable groups can receive quick and accurate legal counseling. “We tried to allow it, but the Korean Bar Association’s current regulations make it impossible to disclose this to the outside world, seriously limiting consumers’ right to know.” Attorney Son said, “The legal market is also in an era where innovation is needed. In the global legal market such as the US and the UK, AI-based legal services are already becoming common, and consumers have the right to receive better services.” He added, “Even though there is an opportunity to improve this through AI and digital technology, the Bar Association is regulating it.” He emphasized, “This report stems from the hope that the legal market will grow healthily through reasonable regulations.” #Korean Bar Association #AI Advertisement #Fair Trade Commission Park Seok-ho (haitai2000@ikbc.co.kr)[View full article] KBC Gwangju Broadcasting - "Time for innovation in the legal market"... Daeryun, Korea Bar Association reports ‘AI advertising restrictions’ to the Fair Trade Commission (Go here) Kukje Newspaper - Daeryun Law Firm reports to the Fair Trade Commission over the Korean Bar Association’s ‘AI advertising restrictions’… “Excessive regulation” (Shortcut) Gyeonggi Ilbo - Korea Bar Association’s ‘AI advertising restriction report’ received by Fair Trade Commission… “Consumer’s right to know and restrictions on legal innovation” (link) Sejeong Ilbo - “Innovation in the legal market is essential, but sanctions~”… Daeryun files a complaint to the Fair Trade Commission for ‘restricting AI advertising’

In practice, we often hear stories like, “I lent you money, but it was a scam.” However, not everyone who does not receive a loan back is a fraud. For a fraud to be established, there must be a deceptive act by the other party, a mistake by the victim, and the delivery of money due to the mistake. In other words, fraud is committed only if you borrow money by lying even though you did not have the intention or ability to repay it at the time of borrowing the money. On the other hand, if there was a willingness or ability to repay, but the borrower was unable to repay due to worsening economic conditions, this is nothing more than a simple civil default. The problem is that in reality, the boundary is very vague. For example, when borrowing money, you said, “I will repay you when I get my salary next month,” but in reality, if you did not have a job or income, the court may view this as an act of deception. On the other hand, if you are unable to repay due to a change in economic circumstances or an unexpected situation after borrowing, such as if you borrowed money to expand your business but are unable to repay the money due to an unexpected transaction stoppage or failure to collect bonds, it is only a civil default. If you were already in an over-indebted state at the time of the borrowing, or if you borrowed money by hiding it despite not having the intention or ability to repay, and if the other party would not have lent you the money if you had been truthfully informed of the purpose of the borrowed money or the method of raising funds, you are guilty of fraud. Ultimately, a crime of fraud is established. The key to judgment is the intention and situation at the time of borrowing money. It is necessary for a person lending money to understand the other party's property status, income, and existing debts at the time of lending money, and to record the circumstances, purpose, and conditions of the borrowing. In addition, the person who borrows money also needs to secure data to prove that he or she had the intention and ability to repay at the time of borrowing, and if he or she later repaid part of the interest or principal, this is important evidence that there was no intention to deceive from the beginning. Fraud and default have different starting points than the results. In other words, what is more important than the result of ‘failure to repay’ is ‘what intentions and circumstances existed at the time of borrowing’. Therefore, when making financial transactions, it is necessary to clearly record the circumstances, purpose, and conditions of the borrowing and to understand the other party's economic situation to prevent disputes and provide post-facto verification.[View full article] [Expert Contribution] Is it fraud or simple default? The criterion for judgment lies in the ‘beginning’ (Shortcut)

Daeryun Law Firm announced on the 22nd that it signed a strategic business agreement (MOU) with Veritas Collegiate Academy Seoul (VCA Seoul), a prestigious private school in the United States, to expand its global education and law convergence business. The agreement ceremony held in the conference room of Daeryun's Yeouido headquarters on the 21st was attended by Daeryun's representative attorneys Kim Kuk-il and Park Dong-il and American attorney Son Dong-hu, while working staff from VCA Seoul, including General Director Brian Kim, Corporate Representative Jang Jae-ho, and Center Director Shin Ga-in, attended. VCA Seoul is an international school located in Apgujeong-dong, Seoul, and is the Korean campus of a prestigious private educational institution with its headquarters in Washington, D.C., Virginia, USA. Our school in the U.S. boasts a prestigious education system, ranking first in the Niche rankings as the best private high school in Virginia. Based on its local education network in the U.S., VCA Seoul supports students wishing to study abroad in the U.S. to enter prestigious U.S. universities and focuses on nurturing global talent with both academic capabilities and character education. Daeryun recently established law firms in New York and Washington D.C., hired local lawyers, and provides a variety of solutions to individual and corporate customers based on high expertise in the fields of overseas investment, immigration, and international disputes. Through this MOU, both organizations plan to focus on building a stable study abroad environment by providing integrated legal and visa-related support to students and families preparing to study in the United States. Specifically, we plan to actively cooperate to △ expand legal advice and visa litigation services for those wishing to study in the U.S. △ provide comprehensive legal consulting for VCA students and their families △ link consulting and services related to housing for international students, such as purchasing and renting houses in the U.S. △ enhance brand value by jointly hosting English and American culture seminars. Brian Kim, CEO of Veritas College It Academy, said, “VCA Seoul goes beyond providing prestigious education in the U.S., and has sought all-round support to help students continue their study abroad safely and successfully. We are pleased that through this agreement with Daeryun, we will be able to resolve all legal and housing issues that students and their families may experience in advance and provide a stable study environment.” Kim Kook-il, CEO of Daeryun Management, emphasized, “This cooperation with VCA Seoul is an important stepping stone to expand Daeryun’s expertise into the global education service area. In the short term, we will strengthen the immigration and visa litigation capabilities essential for those wishing to study abroad, and in the long term, we will secure international competitiveness by building a new business model that combines education and law.”[View full article] Daeryun, MOU with Veritas College It Academy in the US... Expansion of comprehensive consulting for international students (click here)