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Daeryun Law Firm announced on the 4th that it successfully completed a seminar on the theme of 'Commercial Act Amendment and Yellow Envelope Act Response Strategy' held at Daeryun's Seoul headquarters branch office on the 3rd. This seminar was prepared to examine the key issues of the Commercial Act Amendment Bill and the Trade Union and Labor Relations Adjustment Act, also known as the 'Yellow Envelope Act', which passed the National Assembly in succession in July and August, and to explore practical response strategies for companies. The seminar was held online and offline, and about 100 people in charge and practitioners from related industries such as finance, construction, service, and cargo attended. This seminar, which was divided into two sessions, featured attorneys Daeryun Bang In-tae (41st class of the Judicial Research and Training Institute) and Ho Gyu-chan (36th class) as presenters. In the first session, attorney Bang In-tae introduced the main contents and impact of the Yellow Envelope Act. Attorney Bang pointed out the key issues contained in this amendment, such as expanding the scope of parties to collective bargaining for employers, limiting claims for damages due to industrial action, and expanding the negotiation agenda, and explained the risks that companies may face after the law is implemented. He said, "The revised Labor Union Act contains many contents that can significantly shake up existing labor-management relations practices," and added, "It is most important to educate all executives and employees so that they can fully understand the contents of the revised law and strengthen trust and cooperation between labor and management." He gave advice. In the second session, lawyer Ho Gyu-chan presented the main contents of the commercial law amendment and its significance. Lawyer Ho analyzed in detail the major amendments such as the expansion of directors' duty of loyalty, improvements to the outside director system of listed companies, expansion of the 3% rule, and introduction of electronic general shareholders' meetings, and presented practical directions for responding to changes in corporate governance. Attorney Ho said, "With this amendment, it is expected that there will be many changes in corporate management, such as expanding the scope of directors' loyalty duty to protect the interests of total shareholders beyond the company." He added, "However, as issues such as what the interests of total shareholders are remain, future precedents and investigative agencies “It appears that close observation and analysis of the judgment and the Ministry of Justice’s authoritative interpretation will be necessary,” he explained. “This seminar was an opportunity to look at the institutional changes resulting from the two amendments and examine their ripple effects from a variety of perspectives,” said Daeryun CEO Kim Kuk-il. “I hope it will provide meaningful insight in preparing for the coming environment and serve as an important milestone in predicting the future of each company.” Reporter Park Jun-sik (parkjs@wowtv.co.kr)[View full article] Korea Economic TV - “Multi-faceted review of ripple effects”… Daeryun, commercial law revision/yellow envelope law seminar successfully completed (link) Tax Ilbo - Daeryun, commercial law revision/yellow envelope law seminar successfully completed... “Multi-faceted review of ripple effects” (Shortcut)

As SK Telecom (hereinafter referred to as SKT), which caused a large-scale USIM hacking incident, was imposed the largest ever fine of over KRW 130 billion, attention is also focused on lawsuits for damages surrounding SKT. Previously, on the 28th of last month, the Personal Information Protection Committee imposed a fine of KRW 134.791 billion on SK Telecom for violating personal information protection laws, including violation of safety measure obligations and violation of leak notification. A fine of 9.6 million won was imposed. According to the Personal Information Committee's investigation results on the 3rd, it was confirmed that 25 types of information, including mobile phone numbers, subscriber identification numbers (IMSI), and SIM authentication keys (Ki), of 23.24 million users of SK Telecom's LTE and 5G services were leaked. The hacker first infiltrated SK Telecom's internal network in August 2021 and installed malicious programs on several servers, and SKT last year Even after confirming that a hacker had accessed the Hexim authentication server (HSS) in 2022, it was confirmed that no separate inspection was conducted. In addition, SKT operated the Internet, management network, and internal network all connected to the same network, and it was revealed that external access to SKT's internal management network server was allowed without restrictions. In addition, the Personal Information Commissioner's Office also pointed out the delay in reporting personal information leaks. Even though SKT was aware of the personal information leak on April 19, it did not notify the committee within 72 hours. Afterwards, the committee decided to notify subscribers of the leak on May 2, but notification of the confirmation of the leak was not made until the 28th of the same month. With this announcement from the Personal Information Committee, attention is also focused on various lawsuits surrounding SKT. After the information leak incident became public knowledge at the end of April, several law firms, including Daeryun Law Firm, filed a class action lawsuit on behalf of SKT subscribers. In this situation, some analysts say that the results of this investigation by the Information Commissioner's Office will serve as an advantageous basis for victims in the ongoing lawsuit for damages. Daeryun Law Firm, which is leading the class action lawsuit against SKT, said, "As a result of the investigation by the Personal Information Committee, SKT's overall poor security management was officially confirmed." “The decision to impose the largest fine in history is a measure that clarifies the responsibilities of business operators,” he analyzed. He emphasized, “This will be a key basis for supporting victims’ claims for damages in the ongoing class action lawsuit, and the court’s judgment on the rights of individual victims must now follow quickly.” Reporter Kwon Byeong-seok (bsk730@fnnews.com)[View full article] Largest fine ever imposed for ‘SKT hacking’… “This will be the core basis for claiming compensation” (Go to here)

It is very difficult to convert the human pain index into numbers. However, according to the ‘Holmes-Rahe Scale’ created by renowned American psychiatrists Holmes and Rahe to convert human stress into a score, the number one stress level experienced by humans is ‘death of spouse’, followed closely by ‘divorce from spouse’ and ‘discord with spouse’. In other words, if you experience both divorce and discord with your spouse at the same time, you will experience the highest level of mental pain that a person can experience. The most common case in which you experience these terrible experiences at the same time is ‘when you divorce due to your spouse’s infidelity.’ When you become aware of your spouse's cheating, you have two choices: the first is to ‘forgive for now and live with it’, and the second is to ‘immediately file a divorce suit and claim compensation for incest’. The divorce is obtained by collecting alimony from the adulterer and by claiming alimony based on fault from the spouse. In practice, the reality is that there are far more cases of the second case than of the first case. What is more unfortunate is that for families with children, the peaceful family is broken up by an adulterous woman or an adulterous man, and as a result, the child is forced to grow up in an unstable environment. Currently, under Korean law, it is impossible to criminally punish perpetrators of family breakdown. This is because the adultery system, which stipulated criminal punishment, was abolished a long time ago. In this situation, if you secretly look at your spouse's cell phone to find evidence of his or her affair, the 'victim of the most devastated' turns out to be a 'perpetrator of information and communication network infringement' and is subject to criminal punishment. As a result, the only option left is to receive ‘almonia’ through a civil lawsuit, and even this is very rare in being cited for the entire amount claimed. In order to achieve the result of ‘all wins,’ the evidence of ‘cheating’ must have been completely collected in a legal way and the adulterer must be aware of the fact that his or her spouse is married. In addition, the mental damage caused by the cheating must be proven with ‘objective data.’ If all of this is completed perfectly, ‘A third party’s act of cheating with one of the couple, infringing on the marital life that is the essence of marriage, or interfering with its maintenance and infringing on the spouse’s rights to inflict mental pain, will in principle be said to constitute a tort (Supreme Court ruling 2013M2441, decided on May 29, 2015).’ According to the Supreme Court precedent, it is possible to receive considerable alimony. In addition, the unjust act specified in Article 840, Paragraph 1 of the Civil Act, which stipulates the grounds for divorce, includes adultery, but is a broader concept than that, and includes any act that is disloyal to the marital chastity obligation to the extent that it is difficult to continue the marital relationship according to social norms, even if it does not amount to adultery (Supreme Court, May 24, 1988, Decision 88M7) ruling). In addition, whether an act is illegal must be evaluated by taking into account the degree and circumstances of the specific case (Supreme Court Decision 92M68, November 10, 1992). According to this legal principle, the amount of alimony is recognized, and it is determined whether the amount is full or partial. Therefore, ‘collection of evidence’ can be said to be the key to a lawsuit for compensation for incest. If illegality is revealed at the evidence collection stage, even though you are a victim, you may be recognized as a perpetrator and this may be a factor in reducing your compensation. Therefore, it is important for a legal expert to participate in the evidence collection stage from the beginning of the case and legally prove without criminal problems the evidence of misconduct that violated the duty of marital chastity and the circumstances that the adulterer knew whether the spouse was married. In addition, you must submit a medical certificate proving that there has been significant psychological damage so that you can be cited for the ‘full amount claimed’ in compensation for damages to the adulterer. Domestic lawyer Kim Jandi of the Daeryun Law Firm said, “Divorce due to a spouse’s cheating is the sum of the highest pain index experienced by a human being, so it is not easily cured over time, but a ‘realistic’ way to overcome this pain is to take as many legally possible measures against the other party as possible. Therefore, as soon as you are aware of your spouse’s cheating. “I hope you can secure legitimate evidence and achieve the best results with the help of a lawyer,” he advised. Global Epic CP Lee Soo-hwan / lsh@globalepic.co.kr What is a realistic way to overcome divorce and pain caused by a spouse's infidelity? (Shortcut)

past 6month, Filling the regulatory gap in the digital asset market and laying the foundation for the industry 'Framework Act on Digital Assets'(Hereinafter Basic Law)With this proposal, all eyes in the industry are turning to the National Assembly.. The bill first includes a clear definition of digital assets and the rights of digital asset users., It will contain information on the obligations of digital asset business operators, etc.. Another key content of the bill is that in order to operate a digital asset industry, one must obtain approval from, or register or report to, the Financial Services Commission., While clarifying that the management and supervision entity of the digital asset ecosystem is the Financial Services Commission,, The purpose is to establish market order and ensure financial safety.. previous year 7In effect since March 'Act on Protection of Virtual Asset Users, etc.'(Virtual Asset User Protection Act)To put out the urgent fire of protecting user assets and regulating unfair trade practices, 1If it was stage regulation, This basic law covers the regulation of issuance, distribution, disclosure, and transaction support of digital assets, starting with entry into the digital asset industry. 2It is significant in that it is a step-by-step comprehensive regulation.. in other words, With the establishment of a basic law in the digital asset industry that will play the same role as the Capital Markets Act, all related companies now face new regulations and responsibilities..Industry reactions surrounding the implementation of the Basic Law are mixed.. Securities, financial companies, and large companies are expected to benefit by seizing the opportunity to dominate the market and advance into new businesses., This is because many other small and medium-sized businesses may face significant difficulties.. What is problematic is the enormous cost incurred to equip human and material facilities and establish an internal control system.. Beyond simply meeting capital requirements and having computer resources,, Recruitment of professional personnel such as compliance officer, risk management officer, and chief information protection officer and establishment of a large-scale control organization, Anti-money laundering and establishing abnormal transaction detection systems are a burden that threatens the survival of small and medium-sized businesses.. This is likely to ultimately accelerate market reorganization centered on large corporations with capital power..Another concern is that the regulatory approach to be introduced domestically may conflict with global standards.. For example, the European Union 'MiCA'(Markets in Crypto-Assets Regulation) The bill provides for a single license system that allows businesses to operate in other member states if approved in one member state.('Passporting')Formed a common market by introducing. However, since the Basic Law applies regulations, including licensing, to all overseas companies that provide services to Koreans, concerns are raised that it could lead to a disconnection from the global market..So, what preparations do digital asset-related companies need to make at this point in order to effectively adapt to the Basic Law in the future??first, It is important to first understand the legal nature of the digital assets and related business structures that the company is handling.. The bill stipulates the sale, brokerage, storage, collective management, and wallet of digital assets.(Wallet)Total management, delegation, advisory, etc. 10After defining various digital asset industries, obtain approval or register/report according to each business.(Hereinafter, approval, etc.)It is mandatory to complete. After the passage of the Basic Act, digital self-employed businesses that have been outside the system can legally conduct business only if they meet the human and material requirements in accordance with the law and receive approval.. Therefore, in order to conduct business without disruption during the enforcement period of the Basic Act, it is necessary to consult with an expert group such as a law firm, meet the necessary requirements for approval in advance, and proceed with the application process in a timely manner..second, Establish a governance and internal control system at the level of a financial company., A risk management system must be established for financial and management soundness and computer stability.. This is an issue that goes beyond simple regulations and is directly related to corporate reliability., Furthermore, it is a problem of the risk of being systematically expelled from the digital asset ecosystem.. We form a management team of people who not only have expertise in digital assets but also have ethics and reliability., Equipped with an independent compliance monitoring and risk management organization, Customer verification and suspicious transaction reporting procedures must be implemented technically to thoroughly prepare for due diligence by regulatory authorities..finally, All investment contracts and terms and conditions, And the company's internal regulations must be completely reviewed.. The Basic Act stipulates reporting procedures and standard terms and conditions when enacting or changing terms and conditions., With this, it is expected that large-scale supervision of contracts and terms and conditions within the industry will be exercised.. Past cases in which the Fair Trade Commission recommended correction of unfair terms and conditions of virtual asset business operators can be used as a lesson.. In addition, there is a need to elaborate internal regulations to the level of a financial company and ensure that internal control is implemented from the daily business level by reflecting the business conduct compliance requirements of each business operator..At the time of proposing the basic law, the lead sponsor and the Digital Asset Committee announced that they aimed to pass it within the year, so there is not much time.. Rather than hastily reacting after the law goes into effect, it is wise to prepare step by step from now on.. Most importantly, the Framework Act on Digital Assets 'regulation'not 'opportunity'It is a change in perspective.. As market reliability increases through institutional incorporation, more capital and excellent talent will flow in.. Only companies that secure new growth engines through thorough preparation will be able to lead the future of digital finance.. Small and Medium Business Team [View full article] Framework Act on Digital Assets imminent… What are three strategies for survival? (Shortcut)

A public official who was assaulted by a drunk customer at a restaurant and was accused of attempted extortion after saying, “I will take legal action,” was acquitted. According to the legal community on the 2nd, the Chuncheon District Prosecutors’ Office decided not to indict Mr. A, a man in his 50s, who was accused of attempted extortion. Mr. A was assaulted while stopping Mr. B, a man in his 60s, who was drunk and making a commotion at a restaurant in Chuncheon in September last year. Mr. B went to the workplace of Mr. A, a public servant, saying he would apologize, and submitted a complaint to the investigative agency, claiming that Mr. A pressured him to file a claim for damages and demanded money. Mr. A denied all charges. He claimed, “Even when Mr. B came to apologize, he did not show sincerity by saying, ‘I don’t remember because I was drunk,’ so I only said that I would follow the proper legal process,” and “I had no intention of demanding money or threatening him.” The prosecution ruled that there was no charge, finding that Mr. B’s statements were inconsistent and that it was difficult to clearly prove that Mr. A had asked for money. In addition, even if Mr. A tried to receive a certain level of financial compensation, considering that he suffered criminal damage such as assault and swearing from Mr. B, it could not be considered an illegal act that exceeded social norms. Mr. A's legal representative, Min-young Han, a lawyer at Daeryun Law Firm, said, "If notice of harm is used as a legitimate means of realizing rights in a crime of blackmail, whether or not it is allowed should be judged by comprehensively considering the purpose and means. The reason that Mr. A brought up the lawsuit was not through threats, but through due legal procedures. “We faithfully explained that we were making it known that rights can be realized,” he said. Reporter Jeong Cheol-wook[View full article] Civil servant accused of mentioning “legal action” against the person involved in the assault… Prosecutors, no charges (Shortcut)

Police changed the type to ‘single-parent family’ when they did not qualify as newlyweds as of the notice date for recruitment of tenants. Police said, “The suspect did not request a change of type first... making it difficult to recognize the ‘illegal method.’” A suspect in his 30s who was accused of arbitrarily changing his type when he was ineligible after winning an apartment subscription was acquitted. According to the legal community on the 2nd, the Gyeonggi Hwaseong Dongtan Police Station decided not to send A, a woman in her 30s, who was booked on charges of violating the housing law on the 6th of last month. Mr. A won the subscription in 2023. I won by applying for a special supply for newlyweds, but later, during the document submission process, I learned that the marriage was registered after the date of the tenant recruitment announcement. Based on the date of the recruitment announcement, Mr. A was not a newlywed couple, so according to principle, the winning subscription should have been canceled, but the contract went ahead. This was because the winning type had changed from newlyweds to ‘single-parent family.’ In response to this, the Ministry of Land, Infrastructure and Transport requested an investigation, believing that Mr. A had conspired with the business owner to arbitrarily change the subscription type. However, Mr. A completely denied the charges. At the time, an official from the construction company responded that “since she was pregnant at the time of the recruitment announcement, it could be considered a common-law marriage,” and explained that she submitted additional necessary materials. Afterwards, when I visited the sales office again, I was told by the person in charge, “I won as the remaining generation of a single-parent family,” and I just believed and followed that. The police determined that Mr. A was not guilty. It is said that the person who first informed about the change in subscription type was an employee of the sales office. The police explained, “The employees are experts who have received training related to subscription,” and “It would have been difficult for the suspect to perceive this type change notice as an ‘unfair method.’” He also added, “The suspect did not first request a change in the subscription type, but followed the guidance of the sales agency employee, so it is difficult to say that it was intentional.” Attorney Jang Eun-min of the Daeryun Law Firm, who is Ms. A’s legal representative, said, “A violation of the housing law is only valid if it constitutes an ‘act of receiving housing by false or other fraudulent means.’” He added, “Mr. “We were able to achieve good results by emphasizing that there was no intention,” he said. Reporter Seohyun Lee (sunshine@kyeonggi.com)[View full article] ‘Change type’ after winning Newlywed Special?… 30-year-old ‘not guilty’ of housing law violation (link)

Unusual deal with no down payment… UTC Invest's 'foreign acquisition', which is severely short of cash compared to the acquisition price of tens of billions of won, raising questions about the installment structure, leading to an investigation and representative lawsuit... Due to legal uncertainty, the industry is casting a skeptical eye over the deal to acquire UTC Investment (hereinafter referred to as UTC Investment) by Forest Partners, a domestic private equity fund (PEF) management company. This is because a candidate for the next head of a large company sold his personally owned venture capital (VC) company on credit without even receiving a down payment. Handing over a company without receiving a single penny is a rare case in the industry. In addition, in the case of Forest Partners, the acquiring company, the controversy is spreading as the legal risks related to the 2023 wave incident have not yet been resolved and the company's representative is involved in a lawsuit. Im Sang-min, Daesang Group's second daughter, sales structure without down payment According to the investment banking (IB) industry on the 1st, Forest Partners received the entire UTC Invest stock transfer (1 million shares) from Daesang Im Sang-min, vice president (001680), on the 1st of last month. Forest Partners plans to pay the acquisition price in three installments over the next three years. The company did not disclose the size and schedule of the acquisition. Considering that UTC Invest's net assets as of the end of March were 30.8 billion won, the industry estimates that the acquisition price of UTC Invest is in the range of 35 to 40 billion won when the typical domestic venture capital management premium (15 to 30%) is reflected. According to the Financial Supervisory Service's electronic disclosure system, Forest Partners' current assets on a consolidated basis at the end of last year were approximately 4.5 billion won. Cash equivalents are 800 million won, which is only 1/50th of the estimated transaction amount. Considering this, there is an analysis that Forest Partners will take over the management rights of UTC Investment through a fund or a separately established special purpose corporation (SPC). What the industry is paying attention to is not only the financial power of the acquirer, but also the unusualness of the transaction method. In general, in VC mergers and acquisitions (M&A), stocks are transferred with down payment and balance paid sequentially after the transaction is calculated. However, in this case, there is an installment payment structure without even a down payment, so it is evaluated that “assets worth tens of billions of won were effectively handed over on credit.” An official in the venture investment industry said:“It appears that it will be difficult for Forest Partners to pay for the acquisition of UTC Invest with its own funds,” he said. “It appears that a paid-in capital increase will be inevitable in the future, so there is a need to take a good look at the payment entity.” Ji Min-hee, attorney at Daeryun Law Firm,He said, "If this transaction is for the interests of a specific person or profit realization, it may lead to problems such as illegal trading under the Capital Markets Act, breach of trust in business, and violation of the Aggravated Punishment Act for Specific Economic Crimes." Regarding the payment, Forest Partners said, "We plan to liquidate major funds between 2025 and 2027 to recover investment funds and receive performance fees, and secure additional funds through the recovery of two convertible bonds that are maturing, sale of non-business assets, and convertible bonds assigned to shareholders." From legal risks to rumors of external intervention... Growing Suspicion Another issue surrounding this transaction is the legal risk of the acquirer. When a policy agency selects a GP (consignment management company) for an investment project, management stability is an important evaluation indicator, but Forest Partners is finding it difficult to fully meet this requirement. Forest Partners concentratedly sold 41.9 billion won worth of Fado shares in the week before the stock price decline due to Fado's 'earnings shock' in November 2023. Accordingly, the Financial Supervisory Service's Capital Market Special Judicial Police and the Southern District Prosecutors' Office detected the circumstances of illegal transactions by internal executives and employees at Fado and began an investigation. The investigation is still ongoing. Here, owner risk also emerged. Forest Partners CEO Han Seung, who took office as UTC Invest's representative in August, is embroiled in a lawsuit related to forced harassment of employees. Han Seung, CEO of Forest PartnersHe said, "There are no plans at all to raise funds from the target to pay for the acquisition," and added, "It is true that UTC Investment was not aware of the possibility of returning GP from the policy institution investment project due to a change in major shareholders during the acquisition process." He then claimed, “The lawsuit against me, including forced harassment, was brought about by an employee who left the company two years ago out of spite,” and added, “There is a high possibility that he will be found not guilty.” Some say that the background to this transaction is Vice President Lim's spouse, Kook Yoo-jin, head of Blackstone Korea. In the industry, suspicions are raised that “CEO Kook is actually trying to expand his control through Forest Partners, with which he is close.” In fact, it is known that CEO Kook had been interfering with the management of UTC Investment even before the sale, and had been in dispute with internal executives. In particular, experts are pointing out that this transaction has the potential to be used as an expedient gift structure beyond a simple sale. After transferring shares on credit without a down payment, actual control may remain with the owner's family depending on who invests funds during the future paid-in capital increase. Tax experts explained, "If shares are transferred between specially related persons at a price lower than the market price or in an abnormal manner, the National Tax Service may determine that the stock is subject to gift tax," adding, "We cannot rule out the possibility that this case will also be subject to investigation." Forest Partners official said:He said, "It is true that the relationship between CEO Yoo-jin Kook and Forest Partners is close," and "the close relationship with CEO Kook had an influence on Forest Partners' acquisition of UTC Invest at a relatively low price." Meanwhile, CEO Kook owns ‘Astra Holdings’, a private real estate corporation that has no major contact with his main business, PE. The business purposes of Astra Holdings include ▲real estate development, implementation, and consulting ▲real estate leasing and subleasing ▲management consulting and consulting ▲financial investment and investment advisory. Reporter Sang-rok Yoon (ysr@etomato.com)[View full article] [IB Tomato] “Download 0 won”… Daesangga's second daughter, controversy over VC credit sale (link)

Plaintiff asserts obligation to terminate commercial sale contract and restore original condition. Court said, “Important promotional content, such as business purpose, is consistent with facts... It is not enough to lead to a mistake.” The court ruled that even if promotional materials were inflated during the commercial sale process, it does not constitute an act of deception. This is because even if there are somewhat exaggerated expressions, it cannot be concluded that it is a false or exaggerated advertisement. On July 24, the 2nd Civil Affairs Division of the Ansan Branch of the Suwon District Court dismissed the plaintiff's claim in a lawsuit filed against the developer by Mr. At the time of the sale, the developer reportedly promoted through catalogs, etc., that the mall was a public-private joint venture and that business safety and economic feasibility were guaranteed. However, after the completion of the mall, Mr. A and others learned that the mall they received was not included in the government project. Accordingly, they filed a lawsuit, claiming that they had signed a contract after being deceived by the developer's false and exaggerated advertisements. It was an argument that not only should the contract be canceled due to a mistake, but the entire sales price should be refunded. The developer countered, saying, “There is no fact that there was any claim or advertisement that there was budget support for any of the buildings,” and “Therefore, the related advertisement only conforms to the facts and cannot be viewed as a false and exaggerated advertisement.” The court also ruled that it could not be said that there was an act of deception at the time of sales promotion. The court ruled, “As a result of a comprehensive review of all promotional materials, including catalogs, it is difficult to say that each building in this case was advertised with the intention of guaranteeing stability as a public-private joint venture or a national project. Therefore, we cannot conclude that the developer deceived the plaintiffs through promotional materials.” Lawyer Ha-yeon Lim of Daeryun Law Firm, the legal representative of the developer, said, “Most of the publicity that the purchasers claim to be deceptive was not conducted on their own. He explained, “It was just a prediction based on an analysis of the building by an unrelated real estate official,” adding, “Even in the official promotional material, there was only a law stating that if financial support from the government was deemed necessary, a portion of the funds could be subsidized or technical support could be provided.” Attorney Lim said, “Above all, the developer was actually selected as the final business operator in the government project contest and was scheduled to receive support for the project cost, so even if the scope and conditions changed somewhat, this was not false. Therefore, the developer had no obligation to return the sale price. “We are not liable for damages,” he added. Reporter Kim Jong-cheol (jckim99@sportsseoul.com)[View full article] “I thought it was a government-supported project… I was deceived by exaggerated advertisements” File a lawsuit for return of sale price… What are the results? (Shortcut)

Market changes such as family business succession and creator taxation 'reactive response' → 'pre-design' paradigm shift As the legal market in the tax field is rapidly changing, major domestic law firms are actively working to strengthen their tax groups. This movement is due to an increase in the demand for tax-related laws, including an increase in the number of tax trials. According to the Tax Tribunal on the 1st, the number of tax trials processed since 2018 has exceeded 10,000 for seven consecutive years. The number of companies receiving family business inheritance deductions also more than doubled from 88 in 2019 to 188 in 2023. As the succession of family businesses and assets increases and the taxation system for new businesses such as the creator economy and platform business becomes more complex, the demand for professional legal responses such as tax appeals and correction claims has increased. The top 10 large law firms are focusing on strengthening their capabilities by recruiting experts and reorganizing their organizations to meet the needs of the evolving market and clients. On the 20th, Shin & Kim Law Firm signed a contract with Seoul National University Law School professor Lee Chang-hee and foreign lawyer Jang Maria. Kim Tae-hoon, a customs expert, was newly recruited. Attorney Jang is an expert qualified to be both a certified public accountant and a New York State attorney. Yulchon Law Firm also appointed lawyers Jeon Young-jun and Kim Geun-jae as co-heads of the tax group in February and began preparing responses to rapid market changes such as global customs conflicts and corporate tax investigations. Last month, Daeryun Law Firm carried out an organizational reorganization that separated the tax administration group into a tax group and an administrative group. The plan is to provide precise customized legal solutions by maximizing expertise in each field. Attorney Kwak Nae-won, who served as a judge at the Seoul Administrative Court, will lead the administrative group, and attorney Kang Seong-kwon, who worked at the Seoul Regional Tax Office and has a deep understanding of overall national tax administration, will lead the tax group. Attorney Kang said, "As the paradigm of the tax legal market has changed from 'reactive response' to 'pre-planning', the needs of customers have diversified," adding, "In the past, people only sought out lawyers after receiving unfair taxation notices, but recently, there are cases where they are looking for the optimal structure without risk. He explained, “Tax cases require a comprehensive understanding of accounting and management perspectives, so comprehensive assistance is needed, including lawyers, accountants, and tax experts.” He also emphasized, “We will be a reliable assistant throughout the entire process from the tax investigation stage to tax litigation to prevent clients from receiving unfair tax treatment.”[View full article] The era of 10,000 tax trials... Large law firm takes ‘swift steps’ in strengthening tax group (Click here)

An office worker in his 30s who was suspected of embezzling company transaction money was acquitted. Gyeonggi Hwaseong West Police Station decided not to forward Mr. A, a man who was booked on charges of embezzlement and breach of trust on July 31. Mr. A embezzled about 20 million won in payment received from a business partner while working at company B, a ship logistics company last year, and ignored the company's instructions not to issue documents, giving the company about 100 million won. Company B was accused of causing damage worth about 20 million won. Company B claimed that the customer suffered damage due to Mr. A's actions, and that the company compensated for the loss. Mr. A denied the charges, saying that the transaction amount was normally delivered through an in-house employee. However, he countered that it was not delivered due to an employee's mistake, or a problem occurred in the ledger while the company was handling other unpaid amounts, making proper confirmation impossible. The issuance of documents was also made after consultation with the customer. It was emphasized that the storage fee was incurred due to long-term retention issues due to local circumstances. The police determined that Mr. A was not guilty. The police said, "Considering that the company mainly manages funds in cash and deposits them in bulk, there is no way to prove which part of the money remitted from the sales department was partially deposited by the suspect. Since the company managed funds without clearly distinguishing the fares for individual payments, the suspect was unable to determine the whereabouts of the freight." “It should not be inferred that embezzlement occurred because of the inability to explain or submit data,” he said. He added, “When looking at the conversation between the customer in charge and the suspect, it is confirmed that there were logistics that incurred storage fees.” He added, “There are no circumstances to believe that the suspect committed a crime to make a profit or generate profits for a third party based on the data submitted by the complainant.” Ji Min-hee, a lawyer at Daeryun Law Firm, who represented Mr. A, said, “Company B is “We are having a business meeting to manage the receivables, and if the receivables had arisen in this situation, they would have already been managed,” he explained, adding, “As a rule of thumb, it is absolutely impossible for Mr. A to embezzle the transaction proceeds in this situation.” #Accident #Business embezzlement #Breach of trust #Reporter Daeryun Gouri[View full article] A man in his 30s who was suspected of embezzling 20 million won in transaction money was acquitted (link)