This Q&A gives an overview of key recent developments affecting doing business in South Korea as well as an introduction to the legal system; foreign investment, including restrictions, currency regulations and incentives; and business vehicles and their relevant restrictions and liabilities. The article also summarises the laws regulating employment relationships, including redundancies and mass layoffs, and provides short overviews on competition law; data protection; and product liability and safety. In addition, there are comprehensive summaries on taxation and tax residency; and intellectual property rights over patents, trade marks, registered and unregistered designs.
This resource is periodically updated for necessary changes due to legal, market, or practice developments. Significant developments affecting this resource will be described below.