Press Coverage

The court said, "Plaintiffs who subcontracted must also bear joint tort liability." A facility management company requested that a subcontractor repay the settlement money paid to the surviving family of a deceased worker, but the court dismissed the request. On the 14th of last month, the Suwon District Court ruled that the plaintiff lost in the contract money lawsuit filed by facility management company A against Mr. B, the owner of the subcontractor. The case dates back to 2023. The deceased worker, Mr. C, was a worker who had been hired by Mr. B after subcontracting the cleaning service from Company A. He collapsed and died while cleaning the subway after its operation ended on June 28, 2023. At that time, Company A paid about 100 million won in funeral expenses and condolences to the bereaved family, and later filed a contract lawsuit against Mr. B. This is because Mr. C paid the settlement amount on behalf of Mr. B at the request of Mr. B even though he was not a member of Company A, but Mr. B is not keeping his promise to repay. In relation to this, Mr. B refuted that Mr. C and himself were only workers of Company A, and that the accident occurred while performing work instructed by Company A. Regarding the settlement, he also claimed that he had never consulted with Company A, such as promising to repay. The court said, "If you look at the agreement signed with the surviving family, the plaintiff is listed as a party, and the defendant appears to have been unaware of the main content of the agreement." It ruled, "It is difficult to say that an agreement regarding repayment of the settlement was made between the plaintiff and the defendant." It also said, "Because the plaintiff subcontracted the service work to the defendant, the possibility that the plaintiff also bears joint tort liability cannot be ruled out. “There is none,” he explained. Article 760, Paragraph 1 of the Civil Code stipulates that ‘when two persons cause damage to another person through a joint illegal act, they are jointly and severally liable to compensate for the damage.’ Company A's failure to submit documents and other evidence to prove that Mr. B had promised to repay was also used as the basis for the judgment of the plaintiff's defeat. In relation to this, lawyer Jang Eun-min of Daeryun Law Firm, who represented Mr. B, said, "If the plaintiff claims that the defendant promised to pay part of another person's debt, the burden of proof for this also lies with the plaintiff." He added, "Company A did not submit any evidence that it was entrusted with the agreement from Mr. B, and the fact that Mr. B's name is not even in the agreement. “I was able to get a favorable ruling by emphasizing it,” he said. Reporter Jeong Ye-eun (ye9@kyeonggi.com)[View full article] A company demanded payment from a subcontractor for settlement money for a deceased worker... Court "Dismissed" (Shortcut)

In the second round, 331 civil cases and 43 criminal cases were added... A total of 637 people participated in the first and second civil and criminal investigations. SKT's negligence was objectively revealed... Daeryun law firm is taking full-fledged legal action by filing a second criminal complaint and complaint on behalf of the victims and filing a civil suit on behalf of the victims in relation to the SK Telecom (SKT) SIM information hacking incident. Daeryun Law Firm is representing 43 victims secured through the second internal recruitment on the 5th of this month following the 1st of last month, and Yoo Young-sang representing 43 victims. A criminal complaint was filed against SK Telecom's CEO and those responsible for security at Namdaemun Police Station in Seoul. The contents are the same as the first, including charges of breach of trust and obstruction of business, and the key point is that the company neglected its information protection obligations as a telecommunications company. Then, on the 12th, Daeryun filed a second civil damages claim with the Seoul Central District Court on behalf of 331 victims. As a result, a total of 581 people, including those who participated in the first civil lawsuit filed on the 27th of last month, have participated in the process of seeking civil and criminal liability through Daeryun. The civil lawsuit claim amount is 1 million won per person. Amid continued criticism that SK Telecom's poor security management, such as non-encryption of SIM card information, non-preservation of server logs, and lack of security investment, contributed to the accident, attention is focused on the level of disciplinary action ahead of the announcement of the final investigation results of the SK Telecom public-private joint investigation team into the infringement accident. As a result of the investigation team's additional investigation, it was confirmed that over 290,000 pieces of sensitive information, including unique device identification numbers (IMEI), were stored on the hacked server, and the situation is rapidly spreading. Daeryun is taking legal action by establishing a system led by the 'Special Enforcement Headquarters (Special Department)', which is composed of attorney Cho Young-gon, a former chief of the Seoul Central District Prosecutors' Office, and attorney Yeo Sang-won, a former Supreme Court trial researcher. Attorney Yeo explained, “There were a huge number of victims, and in the process of dealing with the damage, we plan to actively assert the direct and additional damage caused by SK Telecom’s efforts to conceal the hacking, as well as the victims’ anxiety about their information being exposed.” Attorney Yeo also refuted some of the skeptical views surrounding this lawsuit. It is not right to unconditionally deny the possibility of winning the case simply because there is no precedent for punitive damages being recognized in relation to personal information infringement incidents. Attorney Yeo said, “This is an unusual case in which SK Telecom’s serious negligence was objectively revealed,” and “If the results of the investigation by the public-private joint investigation team, which will be announced later, are used as proof, liability for damages may be acknowledged.” Attorney Young-gon Cho said, “Sensitive information stored on a hacked server can be seen as the basis for mass hacking.” He added, “IMEI, ICCID, etc., which appear to have been leaked in this incident, can lead to financial fraud, identity theft, and invasion of privacy.” “The leak itself not only poses a serious risk, but also causes psychological damage to individuals,” he said. He added, “The Constitution and the Personal Information Protection Act make it clear that the responsibility for preventing the possibility of damage lies with the business operator. The reasons why victims have been disadvantaged in class action lawsuits are the asymmetry of technical information, the passivity of the judiciary, and the structure of burden of proof. As Daeryun recognizes this case as a public interest lawsuit to protect the rights and interests of the entire public, it holds companies accountable and victims are entitled to rights. “We will respond thoroughly to help you recover,” he added. Meanwhile, Daeryun plans to continue recruiting victims and begin filing additional complaints sequentially. In addition, we plan to carry out follow-up procedures, including securing evidence of SK Telecom's intentional or gross negligence, following the investigation team's final announcement. Reporter Park Jae-gwan (paksunbi@fnnews.com)[View full article] Financial News - Daeryun files second joint lawsuit over ‘SKT hacking’… “There is sufficient possibility of compensation for damages” (Shortcut) Roishu - Daeryun files second joint lawsuit over ‘SKT hacking’… “There is sufficient possibility of compensation for damages” (Shortcut) Newsis - 331 SKT users additionally participate in lawsuit against 'USIM hacking'... Increased to 580 people (Shortcut) Asia Economy - Daeryun "SKT hacking damages of 1 million won each... A total of 580 people applied" (link) Korea Economic Daily - Daeryun files second joint lawsuit over ‘SKT hacking’… “There is sufficient possibility of compensation for damages” (Shortcut) Tax and Finance News - Daeryun ‘SKT hacking’ joint lawsuit 3rd round of recruitment accepted... 637 people participated until the 2nd round (link) Wide Economy - 331 SKT users additionally participate in 'USIM hacking' lawsuit... Increased to 580 people (Shortcut) Point Daily - SK Telecom's 'Son Complaint' Participation Doubles in Boreumsae (Shortcut) The Fact - 580 victims of 'SKT hacking' sued for damages worth 1 million won per person (link)

Daeryun Law Firm announced on the 12th that it held a working-level meeting with the Consulate General of the Republic of Korea in New York (Consul General Kim Ui-hwan) to protect overseas nationals and strengthen legal cooperation between Korea and the United States. At the meeting held at the Consulate General of the Republic of Korea in New York on the 4th, diplomatic working-level staff, including Chairman Daeryun Shim Jae-guk, representative attorney Dong-il Park, and Consul General Kim Ui-hwan of the consulate, attended. This meeting was held to promote the Korean community in the United States and advance into the Korean community. It was prepared as part of discussions to respond to the diverse and complex legal demands of companies and to design a cooperation model between diplomatic missions and private law firms in advance. On this day, the two sides exchanged in-depth opinions to establish a practical cooperation structure in various fields, including △ establishing an emergency legal support and information linkage system for Korean nationals living abroad △ measures to share information on living laws related to residence, immigration, labor, and family △ operating public interest legal education programs for international students and overseas Koreans. Eui-hwan Kim The Consul General said, “We welcome the advancement of leading domestic law firms like Daeryun into the local market,” and “We hope that they will successfully settle on the global stage.” Chairman Shim Jae-guk of Daeryun emphasized, “We seek to promote national interests and substantially contribute to the people through the expansion of domestic law firms into the global market.” Representative attorney Dong-il Park said, “This discussion is the first step in organically connecting Daeryun’s global strategy with local public diplomacy,” and added, “The public performance of global legal services.” “It will be an opportunity to increase effectiveness,” he said. Starting with this meeting, Daeryun plans to further solidify the system based on practical cooperation with public institutions and promote various plans to lead to joint programs such as specific business agreements in the future. Meanwhile, Daeryun, as one of the top 10 law firms in Korea, provides comprehensive legal services encompassing all fields, including criminal, corporate law, and strategic litigation, and is pursuing a full-fledged global expansion strategy to New York and Washington. Digital News Team (jebo@ikbc.co.kr)[View full article] KBC Gwangju Broadcasting - Daeryun-New York Consulate General, legal support for overseas nationals and discussion on Korea-U.S. legal exchange (link) Segye Ilbo - Daeryun Law Firm holds a meeting to strengthen legal cooperation with the Consulate General in New York (Go here) Tax and Finance Newspaper - Daeryun and the Consulate General in New York discuss legal support for overseas Koreans and legal exchange between Korea and the United States (link)

Climate change caused by global warming is shaking the landscape of shipping logistics around the world. As Arctic melting accelerates, the Northern Sea Route is no longer a future possibility, but is emerging as an imminent reality. The Northern Sea Route, which can significantly shorten the sailing distance and time compared to the existing Suez Canal route, is attracting attention as a key axis in the reorganization of the global supply chain. Currently, most of Korea's import and export volume uses the route to the Suez Canal via the East and South China Seas. However, this route overlaps with disputed waters where military and diplomatic tensions are high, such as the Taiwan Strait and the Senkaku Islands. In fact, in recent years, conflicts between China and neighboring countries have become a serious threat to the stability of maritime logistics. In this uncertain international situation, the Northern Sea Route is emerging as a new axis of the national shipping strategy beyond a simple alternative route. Changes in the international shipping order herald a significant turning point for Busan. If the full-scale operation of the Northern Sea Route becomes a reality, Busan, which is geographically located at the gateway connecting the Northern Sea Route and Northeast Asia, can reestablish its status as a transshipment base and strategic maritime city. However, the reality of Busan has reached a point where it is mentioned as being on the verge of extinction due to problems such as population decline, weakening industrial competitiveness, and concentration in the metropolitan area. The current state of a city that was once attracting attention as a maritime hub in Northeast Asia is a sad state. What Busan needs now is not piecemeal administrative reorganization or expansion of physical infrastructure. It is time to fundamentally reorganize the ‘maritime city software,’ including smart port technology, digital shipping systems, and legal and institutional infrastructure that can handle global disputes, while maximizing the use of existing ports and logistics infrastructure. In this regard, President Lee Jae-myung publicly announced his intention to establish a maritime court in Busan during his presidential campaign. This is noteworthy in that it goes beyond a simple commitment to balanced regional development and builds a strategic judicial infrastructure to respond to global shipping competition. In fact, the world's leading shipping cities, such as Singapore, London, Rotterdam, and Shanghai, without exception, operate specialized maritime judicial functions or independent maritime courts. The institutional foundation goes beyond just a framework for resolving disputes and operates as a core infrastructure that supports transactions and trust in the overall maritime economy, including ship finance, marine insurance, and international contracts. While leading Daeryun Law Firm's overseas expansion, the author personally visited major maritime cities such as Singapore, London, and Dubai, and experienced how closely the maritime courts work with the local economic ecosystem. In particular, despite being an Islamic country, Dubai has created a legal environment in which global companies can transact with confidence by applying British common law within the Dubai International Financial Center (DIFC). Such a bold decision to adapt the legal system to the outside to enhance the city's competitiveness has significant implications for us as well. The maritime court to be established in Busan should also not be limited to a simple physical installation. In order to secure its status as a global maritime city, international If necessary, it should be developed into an international maritime court system that faithfully reflects the standards and procedures used in maritime transactions. A separate area can be designated to operate a dispute resolution system based on British common law, and furthermore, a plan to develop the court into a court capable of performing the functions of the International Court of Justice in maritime affairs can be considered. Busan is now standing at the doorstep of a historic opportunity called the Northern Sea Route, but it is not a simple matter of establishing a new court, but establishing a new center of Korea's maritime strategy. The sea is still Busan's future, and Busan can be the most important starting point on the road for Korea to become a maritime power again.[View full article] [Contribution] In the era of the Northern Sea Route, Busan must rise again as a maritime capital (Shortcut)

Panax Japan selects Daeryun as an advisor for its expansion into Korea... Daeryun Law Firm, which provides advisory services such as review of content industry regulations, “Provides solutions tailored to the characteristics of companies and industries in each country... We will become a global investment partner” Daeryun Law Firm is attracting attention from the industry as it is expanding its influence as a ‘global business partner’ that helps overseas companies enter the domestic market. According to Daeryun Law Firm, Japanese digital content distributor ‘Panax Japan’ signed a legal advisory contract with Daeryun Law Firm last month. Previously, Panax Japan submitted a letter of intent for investment worth 10 billion won to Goyang-si, Gyeonggi-do in June 2024 and began entering the domestic content market in earnest. Panax Japan selected Daeryun Law Firm, which has a high level of understanding of the global corporate advisory and content industry, as the final advisor among the many legal advisors that signed an MOU with Goyang City at the time. Daeryun Law Firm provided a wide range of legal services, including review of content industry regulations, copyright law and business-related licensing advice, during the advisory process for Panax Japan's Foreign Investment Company (FDI), helping to enable smooth domestic business activities. Daeryun Law Firm like this. While running the customs and international trade group, he is actively helping overseas companies advance into Korea. Multi-disciplinary experts belonging to the customs and international trade group, including lawyers, tax accountants, labor attorneys, and customs experts, received attention by providing actionable services that go beyond legal advice and come up with practical solutions. Specifically, they provide comprehensive consulting ranging from professional interpretation and advice on foreign investment-related laws such as the Foreign Exchange Transactions Act, Foreign Investment Promotion Act, and Restriction of Special Taxation Act, as well as local government licensing, tax reduction, and design of cooperation structures with domestic partners. In particular, Daeryun Law Firm is strengthening its global network by promoting the opening of an office in New York, USA, in the second half of this year, so it is possible to respond more flexibly in communication and collaboration with overseas foreign companies. Kim Kuk-il, CEO of Daeryun Law Firm, said, “Foreign companies entering the domestic market is a comprehensive project that requires an understanding of complex systems and practical design,” and added, “Daeryun is a partner that opens the door to global investment in Korea by providing customized legal solutions tailored to the characteristics and industrial groups of companies in each country.” He said, “I am playing my role.” Law Leader Reporter Son Dong-wook twson@lawleader.co.kr Law Leader - Daeryun Law Firm takes a leap forward as a global business partner...All-round support for overseas companies entering the domestic market (Go here) Sejeong Ilbo - Daeryun Law Firm focuses on all-round support for overseas companies entering Korea (Go here) Seoul Shinmun - Daeryun Law Firm advised ‘Panax Japan’ on its domestic expansion… “Leap forward as a partner for foreign companies” (Shortcut)

Daeryun Law Firm announced on the 11th that it signed a business agreement (MOU) with the Korean Military Counseling Association, an incorporated association of the Ministry of National Defense, at the Daeryun Seoul headquarters branch office on the 10th. The Korean Military Counseling Association is a representative academic institution that has led the training and related research of military-specific counseling experts for the past 18 years and has institutionalized and developed counseling infrastructure within the military, including registration as an incorporated association of the Ministry of National Defense and operation of a qualification system certified by the Minister of National Defense. Currently, we have signed an agreement with the Marine Corps Leadership Center and are operating a military counseling certification course through consignment, and we have also signed an agreement with the Air Force Leadership Center to help people acquire military counselor certification. According to this agreement, Daeryun plans to provide legal advice necessary for the operation of the Korean Military Counseling Association's counseling program based on the expertise of the National Defense Military Group and provide professional assistance to soldiers. Specifically, △ legal counseling and conflict response advice for military personnel △ cases of human rights violations related to the military. Joint response △ We plan to promote various collaborations such as joint research and education programs related to counseling and human rights. We plan to not spare any effort in providing our own psychological treatment and legal support, such as counseling and stress management, by linking the 'Psychological Counseling Center' operated by Daeryun. Kim Wan-il, president of the Korean Military Counseling Association, said, "Collaboration with a large law firm such as Daeryun is essential to more professionally respond to various psychological and legal problems that may arise within the military organization." “We hope that the two fields of law and counseling can be combined into one to create a practical synergy in improving the welfare and rights of military members,” said Byung-Jun Ko, CEO of Daeryun. Reporter Park Jae-gwan (paksunbi@fnnews.com)[View full article] Daeryun Law Firm signed a business agreement to provide legal advice to the Korean Military Counseling Association (link)

Medical staff who were being investigated by the police for neglecting an emergency patient hospitalized in a nursing hospital, resulting in death, were cleared of charges. According to the police on the 11th, the Gwangju Police Agency recently decided not to transfer four medical staff, including Mr. A, who was suspected of causing death due to professional negligence. Previously, in 2023, a patient in his 60s, Mr. B, died at a nursing hospital in Gwangju Metropolitan City. At the time, the bereaved family said that Mr. B was killed by food. A complaint was submitted to the investigative agency, claiming that the medical staff did not take proper emergency measures such as CPR in a suffocating situation. The medical staff denied the charges, saying that Mr. B was already in cardiac arrest when they found him. They administered first aid, including oxygen administration, but claimed that they were unable to perform CPR due to a DNR (denial of life-sustaining treatment) consent form written by the patient's guardian. The police determined that they were not guilty. "It is entirely possible that the victim died of suffocation. "It is difficult to rule it out, but considering that the victim had findings such as arteriosclerosis in some parts of the cardiovascular system and that more strain is usually placed on the heart during the digestion process after a meal, the possibility of sudden cardiac death appears to be the highest." He added, "I believe that the medical staff can declare a victim with a DNR consent form dead considering his condition at the time," adding, "It was difficult for the suspects to predict the victim's cardiac arrest, and it cannot be said that there was negligence in medical practice such as first aid." This was elaborated. Attorney Kim Cheol of Daeryun Law Firm, who represented Mr. A, explained, "According to precedents, DNR status means that if pulmonary or cardiac arrest unexpectedly occurs during treatment, death is accepted without performing CPR. If high-intensity pressure is applied for CPR despite a DNR consent form, it is compulsory treatment against the patient's will and may amount to assault or injury." Jeong Eui-jin (jej88@ikbc.co.kr)[View full article] The medical staff was 'not guilty' for causing the patient's death by failing to provide first aid.. Why? (Shortcut)

While there have been cases in the United States where the act of profiting by investing in another company's stocks based on the company's internal information was judged to be insider trading and fined, there are voices calling for related regulatory measures in our law as well. Under the current law, insider trading is limited to cases of trading the company's own stocks. Accordingly, if a case like the US case occurs in Korea, there will be limits to sanctions and it may have a negative impact on the fairness and reliability of the capital market. The legal community points out that legislative supplementation is needed to expand the scope of insider trading. Betting on a rise in competitors' stock prices... U.S. court imposes three times fine for unjust enrichment What sparked the discussion surrounding the scope of insider trading was the so-called 'shadow insider trading' case that occurred in the United States. Shadow insider trading refers to the act of making profits by purchasing stocks of other companies based on the company's undisclosed internal information. Previously, in 2016, Matthew Panuwert, an executive at the biopharmaceutical company Medivation, heard internal information that large pharmaceutical company Pfizer was pursuing the acquisition of Medivation, and purchased options to bet on the rise in the stock price of competitors whose movements were linked to the company's stock price. The Securities and Exchange Commission (SEC) determined that Panuwat's actions constituted insider trading. Last September, the court accepted the SEC's argument and imposed a fine equivalent to three times the amount of unjust enrichment on Panuwat. However, as Hoban Group recently purchased a stake in LS, interest in shadow insider trading has increased in Korea as well. Hoban purchased shares while the subsidiaries of both companies were engaged in a lawsuit. The stock of the other party in the lawsuit was purchased. In addition, when the stock price jumped due to a partial ruling in favor of an LS subsidiary, which would ultimately be good news for Hoban, suspicions were raised that the stock was traded using internal information. “Explicit legal regulations are needed... uncertainty must be resolved” The legal community agreed that although it is difficult to view the Hoban case as shadow insider trading, laws to regulate such cases are needed to ensure a fair trading order. Attorney Kwon Mun-gyu of the law firm Space and Gil said, “Shadow insider trading is unfair trading in a state of unequal information,” and added, “Because criminal punishment is difficult under the current Capital Market Act and the provisions on the basis for other regulations are somewhat insufficient, legislative efforts to resolve this seem necessary.” Ahn Hee-cheol, the representative attorney at DL Law Firm, also said, "Shadow insider trading is a new form of unfair trading that can avoid existing insider trading regulations." He added, "We need to expand the regulatory scope of insider trading and explicitly stipulate it in the Capital Markets Act to resolve legal uncertainty." Weight was also placed on the possibility of related discussions taking place. Seungmin Lee, a lawyer at Seum Law Firm, said, "Korea's capital market law has been greatly influenced by the U.S. securities law, so if precedents such as the Panuwert case that punish shadow insider trading are established in the U.S., related discussions will inevitably continue in Korea." Cho Young-gon, a lawyer at Daeryun Law Firm, said, "Considering the recent attitudes of financial authorities and prosecutors and the direction of system improvement, there is room to discuss the creation of new punishment provisions or revision of legal provisions with the need for punishment in mind. In this process, it is necessary to analyze the impact of undisclosed information on the stock price of the industry as a whole and suspected cases of use of inside information that affect the industry as a whole." However, the key during the discussion process is to clarify the standards for shadow insider trading. Attorney Lee said, "The U.S. case was a case where insider trading was expanded to include trading the stocks of another company that is economically related (sharing market connection) using undisclosed information of one company. Since the term 'economically connected' is quite vague and can be interpreted broadly, if it is not defined accurately, there is a risk that trading in the stocks of competitors or affiliates will be unfairly restricted." Reporter Park Seon-woo (closely@bloter.net)[View full article] [Shadow Internal Transactions] ③ Legal profession calls for regulation due to threats to the capital market [Numbers] (Shortcut)

Community legal information communication and collaboration officially launched. Legal content joint planning and production system officially launched. On the 11th, Korea Local Journalists Club (KLJC) and Daeryun Law Firm (Yuhan) signed a business agreement to officially launch a legal content joint planning and production system closely linked to the local community in order to provide practical and professional legal information to citizens across the country. The business agreement signing ceremony was attended by Kim Kuk-il, CEO of Daeryun Law Firm, and working-level staff, and from the Korea Regional Journalists Club, Chairman Son Kyun-geun, Chairman Lee Ki-dong (Daegu Newspaper Seoul Reporting Department Head), Kang Byeong-woon, Mudeung Ilbo Seoul Reporting Department Head and Director, Baek Joo-hee, Ulsan Maeil Newspaper/UTV Political Department Reporter, Kim Doo-soo, Gyeongsang Ilbo Seoul Headquarters and Director, and Chungbuk Ilbo Headquarters Choi Dae-man. We attended and discussed specific action plans for the future. This agreement is centered on connecting lawyers from Daeryun Law Firm (Limited) with reporters from member companies of the Korea Local Journalists Club (KLJC) to regularly provide essential legal information to local residents. Through this MOU, the two sides agreed to promote multi-faceted collaboration, including healthy development of the legal service industry, expansion of services to the public, cooperation in enacting and amending laws for autonomy, decentralization and balanced development, and legal, tax and accounting advice for members of the Korea Regional Journalists Club. “Legal information is the social foundation that protects citizens’ rights,” said Kim Kuk-il, CEO of Daeryun Law Firm (Law), adding, “By combining Daeryun Law Firm (Law) Limited’s global mega law firm system with the network of the Korea Local Journalists Club (KLJC), we will contribute to bridging regional gaps and ensuring that anyone can receive professional help.” Lee Ki-dong, president of the Korea Regional Journalists Club, gave meaning to this, saying, “We have created a decisive turning point in which local media can go beyond simply delivering news and provide legal information that is closely related to the daily lives of residents.” The two organizations plan to hold quarterly planning meetings in the future to select regionally tailored topics and sequentially expand content such as conflict case explanations, lifestyle Q&A, online and offline lectures, and seminars. Through this, we plan to continue to expand close legal service contact points with the local community beyond simple information delivery and strengthen cooperative relationships with the common goal of establishing an 'environment where everyone can receive high-quality legal services fairly.' Meanwhile, Daeryun Law Firm (Limited), founded in 2016, has established a 'global mega law firm' model that connects 41 branch offices across the country into a single integrated system centered on its headquarters in Seoul. The Korea Local Journalists Club (KLJC) is a non-profit media organization launched in July 2012, and its members include senior reporters working at 42 regional daily newspapers across the country.[View full article] Wikitree - Korea Regional Media Inc. - Daeryun Law Firm (Limited), signed a business agreement (Go here) Gwangju Daily Newspaper - Korea Regional Journalists Club and Daeryun Law Firm signed an MOU (link) Chungbuk Ilbo - Korea Local Journalists Club (KLJC) and Law Firm (Lihan) and Daeryun, business agreement (link) Daegu Newspaper - Korea Regional Journalists Club and Daeryun Law Firm signed an MOU “Providing practical legal information to local residents” (link) Gyeongsang Ilbo - KLJC and Daeryun Law Firm MOU signed (link)

Concerns about financial accidents are growing as customer personal information was recently leaked due to the SK Telecom SIM hacking incident. As the scale of information leaks is expected to reach up to 25 million, the possibility of sim swapping using SIM information, creating cloned phones, and stealing text messages or financial authentication information is being raised. Since mobile phones are used as the most important authentication medium in non-face-to-face financial transactions, there is a high possibility that hackers will abuse them for electronic financial transaction fraud. In particular, with the revitalization of Fin-Tech, which combines finance and technology, most financial transactions are currently conducted non-face-to-face. Therefore, the financial industry is often a major target for hackers targeting security vulnerabilities. In fact, non-face-to-face financial accidents appear to occur frequently. For example, in the case of voice phishing, the National Police Agency estimated last year that the total damage amount was KRW 854.5 billion, and the damage per person was approximately KRW 41 million, which is a 91% and 73% increase respectively from the previous year. So who is responsible for non-face-to-face financial incidents such as smishing, pharming, and phishing? To explain this part, we must first look at the legal basis. Pursuant to Article 21 of the Electronic Financial Transactions Act (Obligation to Secure Safety), financial companies, etc. must exercise the utmost care as good managers to ensure that electronic financial transactions are processed safely, and are obligated to comply with the standards set by the Financial Services Commission in relation to the information technology sector and electronic financial services, such as manpower, facilities, and electronic devices for electronic transmission or processing, to ensure the safety and reliability of electronic financial transactions. In addition, in accordance with Article 9 of the same Act, financial companies, etc. are required to comply with the standards set by the Financial Services Commission in relation to electronic financial services, including manpower, facilities, and electronic devices for electronic transmission or processing, to ensure the safety and reliability of electronic financial transactions. If damage occurs to a user due to an accident that occurs during the electronic transmission or processing of a contract or transaction instruction, or an accident that occurs due to the use of an access medium obtained by false or other illegal means by intruding into an electronic device or information and communication network for electronic financial transactions, the user is responsible for compensating for the damage. In other words, unless there is intentional or gross negligence on the part of the user, in principle, the financial company must compensate the user for any damages incurred. What should be done if a non-face-to-face financial accident actually occurs? First, you can report or consult with the Telecommunications Financial Fraud Integrated Reporting and Response Center (112) or apply for damage relief to the relevant financial company. In urgent cases, you can apply by phone and submit the documents later. Once the financial company receives the application, the account will be suspended from payment, and if any damages still remain in the account, procedures will be taken to refund the victim. If you report a financial fraud to the police and obtain an incident confirmation certificate detailing the date, time, and amount of damage, you can use it as evidence or explanatory material in future procedures. You can also consider seeking punishment for criminals from the investigative agency through a criminal complaint. Naturally, the biggest concern from the victim's point of view is recovering the amount of damage. Based on the agreement with the Financial Supervisory Service, first-tier financial institutions will implement 'non-face-to-face financial accident responsibility sharing standards' from 2024 and second-tier financial institutions will implement 'non-face-to-face financial accident liability sharing standards' from 2025, and they will independently calculate the liability ratio for damages and provide corresponding compensation to users. It is also possible to apply for dispute mediation to the Financial Dispute Mediation Committee of the Financial Supervisory Service. For example, in 2022, the committee acknowledged the negligence of a financial institution in suspending payments for voice phishing and decided to compensate for the full amount of causal damage. It is also possible to file a lawsuit against a financial company claiming damages under the Electronic Financial Transactions Act, or to file a lawsuit to confirm the non-existence of debt for an identity theft loan that was not made against the person's will. In relation to this, there have been a number of recent precedents in lower courts favoring the victims. However, the best way is to prevent damage in advance. Do not click on links included in text messages unless you trust the source, and make efforts to regularly remove malware and viruses using security or anti-virus programs. Financial accidents can be largely prevented by using the mobile phone identity theft prevention service of the Korea Association for Information and Communications Technology (KAIT) or, if your personal information has been exposed, by registering it with the Financial Supervisory Service's Personal Information Exposure Accident Prevention System. If actual financial transactions due to identity theft are confirmed or suspected, you can also suspend payments in your name at the Korea Financial Telecommunications and Clearings & Clearings Institute Account Information Integrated Management Service (Account Info) or report your credit cards as lost all at once. It is possible. Account Info also provides a safe blocking service for non-face-to-face account openings, which can prevent additional opening of identity theft accounts. Small and Medium Business Team[View full article] Phishing and smishing rampant... Damages from non-face-to-face financial accidents, what are the responsibilities and solutions? (Shortcut)