Law and Compliance in South Korea
- General Observation
- You must state precisely the obligations of the vendor and the methods of quality control.
- Law Applicable to the Contract
- You must be particularly vigilant about the law applicable to the contract and the methods of conflict resolution. Indeed, Korea is not a signatory to the
Vienna Convention on International Contracts.
The Korean legal system is not easy for a foreigner to understand so you are advised to choose international law or a system of settlement by arbitration.
- Advisable Incoterms
- FOB and CIF are widely used in Korea, even if Incoterms 2000 recommends FCA in case of container, air or complicated delivery.
- Language of Domestic Contract
- Korean, English
- Other Laws Which Can Be Used in Domestic Contracts
- If the Korean law is not used, you could select the international laws especially in English or the law of your contactors (in English).
Legal Framework of Business
Equity of Judgments
- Independence of Justice
- Equal Treatment of Nationals and Foreigners
- The Language of Justice
- Recourse to an Interpreter
- Yes. With the rapid increase of the crime committed by the foreigners, the Korean courts are trying to staff up more necessary interpreters.
- Legal Similarities
- The system is modeled on European systems with Anglo-American influences like Japan.
The Different Legal Codes
|Securities related Laws||Securities and Exchange Act
Futures Trading Act
Collective Investment Scheme Act
Foreign Exchange Transaction Act
|Commerce Laws||Commercial Act
Unfair Competition Prevention Act and Trade Secret Protection Act
|Consumer Laws||Act on the Protection of Personal Information Maintained by Public Agencie
Consumer Protection Act On Eletronic Transaction
Door-To-Door Sales, Etc. Act
Electric Appliances Safety Control Act
Food Sanitation Act
Regulations On Consumer Disputes Resolution
Product Liability Act, etc.
|Tax Laws||Corporation Tax Act
Special Taxation for Foreign Investment in Restriction of Preferential Taxation Act
|Financial Laws||Banking Act|
|Labor Laws||Labor Standards Act|
|Customs Laws||Customs Act|
- Checking National Laws Online
Total Korean law service of Supreme Court
Total Korean law service
Ministry of Government Legislation (MOLEG)
Korea Legislation research Institute (KLRI)
Ministry of Finance and Economy (MOFE)
- Other Useful Resources
MOJ, Ministry of Justice
MOLEG, Ministry of Government Legislation
National Assembly, Recently Enacted Laws.
- Country Guides
Buyusainfo Country guide
Find Legal Experts in South Korea on GlobalTrade.net.
|The Constitutional Court||Decides on the Constitutionality of Laws, ruling on Competence Disputes between governmental entities, adjudicating Constitutional Complaints filed by individuals, etc.|
|Supreme Court||Hears appeals from judgments or rulings rendered by the High Courts, the Patent Court, and the appellate panels of the District Courts or the Family Court.|
|High Courts||Hear appeals from judgments or rulings rendered either by a panel of three judges of the district courts or the family court, or by the administrative court. The jurisdiction of high courts is exercised by a panel of three judges.|
|District Courts & Branch Courts||There are 18 district courts throughout the nation. In each district court, there is an administration bureau to handle administrative affairs. The district courts or branch courts retain original jurisdiction over civil and criminal cases.|
|Family Court||Exclusively deals with domestic relations and juvenile offense cases, the Family Court was established on October 1, 1963, on an equivalent level to the district courts.|
|Administrative Court||The only Administrative Court is located in Seoul.|
|Patent Court||Operates in a two-tier system. When a party is dissatisfied with the decision of the Intellectual Property Tribunal, a lawsuit may be filed with the patent court and later to the Supreme Court.|
- Public prosecutors
- Representatives of the public interest, who investigate crimes, indict suspects as well as direct and supervise the police in the investigation of crimes.
- Participate in judicial proceedings as representatives of parties in civil or administrative cases or as defense counsels in criminal cases.
- Notary publics
- They draw up notaries deeds on juristic acts and attest to the authenticity of any instruments or writings signed by private persons.
- Judicial scriveners
- They perform such duties as preparation of documents to be submitted to a court or public prosecutor's office, preparation of documents necessary for registration and proxy of application for registration or deposit.
- Independent, extra-judicial officers affiliated with the district courts. They are engaged in the execution of judgments and the service of documents.
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The Korea-U.S. FTA is a result of a paradigm shift from traditional regionalism, which deals mostly with customs-border issues, to ‘aggressive regionalism’ that codifies a whole-scale problem-solving process.
Won-Mog Choi, Ewha Law School on 24 Feb 2010 related to Law and Compliance in South Korea
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U.S. Commercial Service South Korea on 6 Jan 2010 related to Law and Compliance in South Korea
Professor, South KoreaProfessor at Ewha Law School, Ewha Womans University, Seoul, Korea
U.S. Department of Commerce, South Korea