Can a Foreign Company be Deemed a Domestic Company for Tax Purposes and Taxed on Worldwide Income?
If Korea deems a foreign-incorporated company a Domestic Corporation, the company shall be taxed on its worldwide income. The relevant law, this determination is made under, is the Corporate Tax Act of Korea (“CTA”). In the typical case, the National…
The Case for Arbitration over Litigation in Korea
Many of you are prospectively weighing the options of executing contracts with and without arbitration clauses in Korean contracts (aka setting yourself up for prospective litigation battles in Korean courts or resolving a dispute in Korea with the help of…
Challenging an Arbitrator at the Korean Commercial Arbitration Board
In our last post we discussed, at length, the benefits of arbitration in Korea over litigation in a Korean court. We shall be updating the reader of numerous issues related to arbitration over the next couple of weeks. The following…
Korean Arbitration: An Introduction
Korean Arbitration has come a long way since the ratification of the New York Convention in 1973. The Korean Commercial Arbitration Board (KCAB) went from a small organization handling a handful of cases to, now, an organization handling hundred of…
Settling with a Korean Insurance Company: Car Accidents in Korea
Regrettably, many Korean insurance companies, in Korea, are less than generous in offering settlements to unrepresented parties in injuries sustained by car, trucks, taxis and trucks. The various Taxi Associations’ insurance coverages are, particularly, notorious. The Korean insurance companies utilize…
Preparation for Korean Police & Prosecutor Interrogations & Witness/Defendant Questioning at Korean Courts
All good Korean attorneys prepare all clients for witness questioning & suspect interrogations in Korea. Clients may be subpoenaed to appear in a Korean police office, Korean prosecutors office or to appear as a witness or a criminal defendant in…
Deportation after Criminal Conviction in Korea: Korea Immigration Law Basics
Korea’s Immigration Services has increased enforcement/deportation actions against foreigners convicted of crimes. Upon exit from Korea, the Immigration Service has been instructing individuals to report to Immigration with the written judgment and confirmation that the fine (if any) was paid…
Right Not to be Tried in Korea for the Same Crime
The double jeopardy protection afforded by the Korean Constitution in Article 13 is applied in a different manner than in, most, common law nations. The application of Double Jeopardy, in Korea, allows the prosecution to have three chances to obtain…
Distribution Agreement in Korea: Factors to Always Keep in Mind
Prior to going into any relationship with a distributor/agent in Korea, please read my post entitled: Finding a Korean Distributor: The Top 10 Things to Know Before Going to Bed with a Distributor in Korea. Please read that post in…
Liquidated (Penalty) Damages Necessary in Most Korean NDA and Non-Compete Agreements
For any company engaged in negotiations, agreements, pre-M & A due diligence, OEM outsourcing or other activities with a Korean business or individuals that may lead to you disclosing your companies intellectual property, know-how or other proprietary information, always include…