LIN NEWS
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LIN NewsCurrent Status of Lin Experts' Appointment by Institutions in the 3rd Quarter of 2024Recent external appointments of Lin’s legal experts are as below. Tae Eon Koo Appointed as a Member of the Compensation Management Committee of the Korea Entertainment Producers Association (KEPA) On June 1, 2024, Tae Eon Koo of LIN was appointed as a member of the Compensation Management Committee of the KEPA (June 1, 2024 - May 31, 2026). The KEPA is an organization established to preserve and inherit Korea's popular cultural heritage, advance national music culture, promote Korean music on a global stage, create a healthy cultural environment for youth, and promote the rights and welfare of member organizations. As a member of the Compensation Management Committee of the KEPA, Mr. Koo will strive to properly manage KEPA’s compensation funds while working to strengthen the infrastructure for the popular music industry and improve the rights and interests of producers, and will also do his best to facilitate active exchanges with overseas popular culture markets to support member companies’ global expansion and their artists’ activities, and to promote the rights of member companies that are being infringed upon in overseas markets. Tae Eon Koo reappointed as a Member of the Samsung Card Specialized Data Agency's Pseudonymization and Anonymization Appropriateness Assessment Committee On October 1, 2024, Tae Eon Koo of LIN was reappointed as a member of the Pseudonymization and Anonymization Appropriateness Assessment Committee of the Samsung Card Specialized Data Agency (Oct. 1, 2024 - Sept. 30, 2025). The Samsung Card Specialized Data Agency is a specialized organization that supports the safe combination and utilization of data to facilitate cross-industry data convergence based on its trusted expertise accumulated through the establishment and operation of core infrastructure. In addition, anonymization appropriateness assessment is a system that enables the safe utilization of anonymized data through a strictly constituted appropriateness assessment committee, and Koo is a member of the Pseudonymization and Anonymization Appropriateness Assessment Committee of Samsung Card Specialized Data Agency, and will diligently work to help the agency consider the appropriateness of anonymization more objectively and combine and provide data in a safer manner. Chul Soo Kim, Moon Joo Kim, and Jung Tae Kim Reappointed as External Legal Advisors to Korea Overseas Infrastructure and Urban Development Corporation (KIND) On September 1, 2024, Chul Soo Kim, Moon Joo Kim, and Jung Tae Kim of LIN were reappointed as external legal advisors to the Korea Overseas Infrastructure and Urban Development Corporation (KIND). KIND was established under the Overseas Construction Promotion Act and officially launched in June 2018, and is the Korean government's specialized support agency for overseas infrastructure and urban development projects. KIND conducts activities such as identifying and promoting overseas infrastructure and urban development projects, and providing investment, funding, and financial advisory services in order to support Korean companies' expansion into investment-development projects in overseas infrastructure and urban development sectors. Since their appointment as KIND's external legal advisors on September 1, 2022, Attorneys Chul Soo Kim, Moon Joo Kim, and Jung Tae Kim have provided legal services on various issues related to KIND's overseas infrastructure and urban development projects and management in general, and will continue to work diligently to help KIND grow as a specialized support organization for Korean companies to promote overseas infrastructure and urban development projects. Jin Kee Jung Appointed as Legal Advisor to the Air Force Academy Alumni Association Jin Kee Jung of LIN was appointed as legal advisor to the Air Force Academy Alumni Association on July 1, 2024 (July 1, 2024 - June 30, 2027). The Air Force Academy continues to innovate the education and training system for cadets to foster human resources with military expertise, while also making multifaceted efforts to develop proper character and competencies required of national and military leaders through life education, military education, and operation and development of self-governance systems. In addition, the Air Force Academy Alumni Association has been working to expand mutual exchanges and participation for the development of the Air Force Academy, and to revitalize the research activities of the Seongmu Security Research Institute and the Seongmu Scholarship Program. Jung will do his best to contribute to the development of the Air Force Academy Alumni Association and Air Force personnel by faithfully providing legal advice to the organization during the term of his appointment. Seok Lee appointed as a Member of the Gyeonggi-do Climate Response Fund Management Review Committee On September 2, 2024, Attorney Seok Lee of LIN was appointed as a member of the Gyeonggi-do Climate Response Fund Management Review Committee (September 2, 2024 - October 18, 2025). The Gyeonggi-do Climate Response Fund Management Review Committee is a deliberative body established to effectively manage the fund created by the Gyeonggi-do to respond to climate change, and the committee is responsible for deliberating and coordinating the fund's operational direction, investment and execution plans. As a member of the Gyeonggi-do Climate Response Fund Management Review Committee, Lee will work diligently to help the committee manage the fund more effectively through discussions and consultations from various experts such as climate experts, public officials in related fields, and stakeholders.2024.11.26
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News Letter[Mobility Legal Updates] Regulatory Exemptions Related to Urban Air Mobility (UAM) Pilot ProjectsThe fields of “autonomous vehicles,” “electric vehicles,” and “urban air mobility” are rapidly growing sectors in the mobility industry both domestically and internationally. In response, the Korean government is increasingly easing regulations or establishing legal standards for these mobility sectors. This newsletter provides a summary of recent noteworthy developments in the mobility industry. Regulatory Exemptions Related to Urban Air Mobility (UAM) Pilot Projects On November 21, 2024, the Ministry of Land, Infrastructure, and Transport announced the finalization of regulatory exemptions to support the Urban Air Mobility (“UAM”) demonstration project under the Act on the Promotion of and Support for Utilization of Urban Air Mobility (Article 15). These exemptions provide flexibility in applying certain provisions of the existing four aviation laws (Aviation Safety Act, Aviation Business Act, Airport Facilities Act, and Aviation Security Act) to enable UAM demonstration projects. Key measures of these regulatory exemptions include establishing a basis for duplicate registration of foreign-registered aircraft domestically, permitting demonstration flights within urban areas for aircraft that have undergone prior safety testing, imposing accident reporting obligations on demonstration project operators, and defining essential flight procedures such as take-off and landing sites and emergency landing authorization for UAM demonstration projects. These regulatory exemptions allow companies to register and utilize foreign-registered aircraft domestically and verify their technologies through urban demonstration flights, advancing the development of urban air mobility businesses. Standards for the Use of Mobile Video Processing Systems for the AI Development, including Autonomous Vehicles Guidelines for Mobile Video Processing Systems under the Personal Information Protection Act On October 14, 2024, the Personal Information Protection Commission announced the release of the Guidelines for the Protection and Utilization of Personal Video Information for Mobile Video Processing Systems, designed to provide detailed application measures for the newly established provisions on mobile video processing systems (Article 25-2) under the Personal Information Protection Act. The guidelines aim to establish specific standards for utilizing such devices in applications like AI development. Key topics include methods for indicating the fact of video recording by mobile video processing systems (e.g., multi-cameras for video collection) used in autonomous vehicles, robots, and drones, as well as measures required when personal video information is used for AI training purposes. As with other guidelines related to the Personal Information Protection Act, this document serves as a crucial reference and standard for companies to ensure the lawful use of mobile video information processing devices for AI development purposes. Revision of Harmonized System of Korea Materials Related to Secondary Batteries and Electric Vehicles The Harmonized System of Korea (“HSK”) has been partially revised and will come into effect starting January 1 next year. The HSK, based on the International Convention on the Harmonized Commodity Description and Coding System, provides the classification of goods imported and exported to and from Korea and serves as the basis for verifying various requirements during customs clearance, determining rules of origin under Free Trade Agreements (FTAs), and calculating simplified fixed duty drawbacks for small and medium-sized enterprises. Companies are required to include the appropriate classification codes for their products on customs declarations during import/export. In this revision, new codes have been introduced for materials and parts related to secondary batteries and electric vehicles in connection with the mobility industry. With the addition of these codes, which pertain to critical materials and components in the mobility industry, it is anticipated that the challenges companies face in determining the correct codes for customs declarations, as well as the associated risk of reporting errors, will be significantly alleviated. *** LIN has extensive experience in providing advisory and litigation services within the mobility industry, particularly in areas such as administrative regulations and patents and trade secret disputes related to motor vehicles. Our Mobility Team features attorneys and experts with a distinctive interest and passion for motor vehicles. Should you wish to learn more about this newsletter or have any other inquiries, please do not hesitate to contact our firm’s Mobility Team: Tae Joon Bae (tjbae@law-lin.com, 010-8237-8123) Min Gu Kang (mgkang@law-lin.com, 010-3907-9217) Ho Yeon Kim (hykim@law-lin.com, 02-3477-6300) Han Joon Jung (hjjung@law-lin.com, 02-3477-8695) Jeong Pil Oh (jpoh@law-lin.com, 02-3477-8695) Yeonsoo (Sara) Lim (yslim@law-lin.com, 02-3477-6300).2024.12.23
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NoticeLin Signs MOU with Korea New & Renewable Energy Association (KNREA)Mutual cooperation on new & renewable energy-related projects through legal services in the field of laws and regulations On October 26, Lin signed an MOU with KNREA to promote the development of the domestic new & renewable energy industry. The agreement was signed to provide various legal services to KNREA and its member companies, including information on new & renewable energy-related laws and regulations. Through the agreement, the two parties agreed to cooperate on ▶ improving new & renewable energy-related laws and systems ▶ providing legal advice on new & renewable energy ▶ and training on new & renewable energy. In line with the trend of carbon neutrality, Lin will exert its best to promote the sustainable development of the renewable energy industry, which can replace conventional energy using fossil fuels and nuclear power. For more information, please visit KNREA website below. http://www.knrea.or.kr/bbs/?act=bbs&subAct=view&bid=agreement&page=1&order_type=desc&seq=58282023.11.10
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Recruitment PersonnelNew RecruitmentsWe are pleased to welcome Jung Bong Lee (Partner), Lance B. Lee (Foreign Legal Consultant - Partner), and Ki Suk Seol (Of Counsel) as new members of our Firm. 1. Jeong Bong Lee, Partner - Incheon Songdo High School(68th) - Yonsei University, Department of Law - Chungnam National University, School of Law - Korean Bar Examination (40th, 1998) - Judicial Research and Training Institute (27th) - University of Vienna – Criminal Justice Institute Visiting Scholar (2008) Past) Incheon District Public Prosecutors’ Office – Prosecutor (2001) Past) Daejeon District Public Prosecutors’ Office, Hongseong Branch – Prosecutor (2003) Past) Incheon District Public Prosecutors’ Office, Bucheon Branch – Prosecutor (2005) Past) Seoul Central District Public Prosecutors’ Office – Prosecutor (2007) Past) Supreme Prosecutors’ Office - Prosecutor Researcher (2007) Past) Busan District Public Prosecutors’ Office – Prosecutor (2013) Past) Financial Intelligence Unit (FIU) - Head of Strategic Analytics (2014) Past) Chuncheon District Public Prosecutors’ Office, Gangneung Branch – Chief Prosecutor (2016) Past) Daegu District Public Prosecutors’ Office, Seobu Branch – Chief Prosecutor, Criminal Division 3 (2017) Past) Seoul Eastern District Public Prosecutors’ Office - Chief Prosecutor, Criminal Division 5 (2018) Past) Seoul Southern District Public Prosecutors’ Office - Chief Prosecutor, Criminal Division 2 (2019) Past) Supreme Prosecutors’ Office – Human Rights Policy Officer (2020) Past) Gwangju District Public Prosecutors’ Office – Human Rights Protection Officer (2021) Past) Chuncheon District Public Prosecutors’ Office – Chief of Wonju Branch (2022) Past) Seoul High Prosecutors’ Office (Daegu District Public Prosecutors’ Office, Secondment(2023), Voluntary Resignation) Current) LIN Since his appointment as a prosecutor in 2001, Mr. Lee has served as a prosecutor at the Seoul Central District Prosecutors' Office, a researcher at the Supreme Prosecutors' Office, a prosecutor at the Busan District Prosecutors' Office, a secondee at the Financial Intelligence Unit (FIU), a deputy prosecutor at the Seoul Eastern and Southern District Prosecutors' Offices, and a human rights policy officer at the Supreme Prosecutors' Office, before finally retiring in 2023 as the Chief Prosecutor of the Wonju District Prosecutors' Office. During his 22 years and 8 months as a prosecutor, he discharged a wide range of cases, including intellectual property infringement, technology theft and unfair competition, medical malpractice, sexual assault, finance, taxation, homicide, special crime, public security, and human rights policy (due process compliance in investigations). Mr. Lee, who joined Lin as a partner in November 2023, plans to actively engage in various cases such as securities, finance, and corporate anti-corruption based on diverse investigative and theoretical experience accumulated from the prosecution. Lin boasts top domestic experts in responding to financial, corporate crimes, and other investigative matters, and we will strive to provide our clients with high-quality legal services. 2. Lance B. Lee, Foreign Legal Consultant (Partner) - Boston College Law School – J.D. - University of Virginia – B.A. Past) Dentons Lee - Chief Operating Officer, Head of International Arbitration & Litigation and Partner, 2012-2023 Past) Kim & Chang - Partner Past) STX Shipbuilding Corporation – Group General Counsel Past) POSCO – Overseas Projects Team Leader Past) U.S. Army JAG Corps – Trial Counsel, Prosecutor and Captain Past) Gainer, Rient & Hotis - Attorney Current) LIN – Head of International Arbitration & Litigation, Partner (Present) Mr. Lee, a U.S. attorney, was responsible for various international arbitration and litigation cases for 11 years at Kim & Chang, representing numerous international corporations and diverse fields. Serving as General Counsel at STX Shipbuilding Corporation and Head of the International Legal Team at POSCO, he handled tasks such as international arbitration, international litigation, IP, corporate M&A, contract negotiations, and joint investments for global conglomerates. Subsequently, as a partner at the Seoul Office of Dentons, he worked for 11 years as the Head of the International Arbitration/Litigation Team, leading numerous international arbitration cases as lead counsel. In 2024, for the first time in history, more than half of the global population will be holding elections, signaling the end of America’s “unilateral hegemony” and prompting the world to prepare for more disputes. With major industrial powers intensifying their industrial policies and protectionist measures to secure leadership in advanced and eco-friendly industries post-election, there is an anticipated increase in international disputes, particularly in advanced technology sectors such as semiconductors and information technology (IT). Mr. Lee, a foreign attorney leading the International Arbitration/Litigation Team, will leverage his experience and expertise to actively discharge legal advice on the prevention and resolution of international disputes for various global corporations based on his accumulated knowledge and professionalism. 3. Ki Suk Seol, Of Counsel - Hongik University, Department of Architecture - Kyungpook National University, Graduate School of Law, - KAIST, Intellectual Property Graduate School - Bar Examination (3rd) Past) Eland Group, Legal Department Past) Hyundai Engineering, Legal Department Past) Ministry of Justice, Legal Affairs Officer Past) Ministry of Justice, Legal Affairs Secretary Current) LIN Mr. Seol, as an in-house counsel for a large corporation, has accumulated expertise in a wide range of legal affairs that can arise within the company, including civil and criminal litigation and consultation, fair trade practices, compliance, intellectual property, construction, and labor-related dispute management. Subsequently, serving as a Legal Affairs Secretary at the Ministry of Justice, he handled administrative adjudication and litigation, legislation drafting and revision, interpretation of laws and rights, review of government and legislative bills, formulation of legislative strategies, improvement of attorney and notary systems, and enhancement of legal technology systems. Through these roles, he has built expertise in planning, administration, and legislation. Amidst the ongoing challenges such as the increase in unsold and unoccupied properties, rising construction costs, high interest rates, and stagnation in real estate PF, it is anticipated that legal disputes and litigation among real estate market participants, including developers, contractors, financial institutions, trustees, and local housing associations, will continue to rise. Mr. Seol, who has served as an in-house counsel for a global integrated construction company, has handled a wide range of cases from civil and criminal matters to fair trade, construction, labor, and compliance issues, from the client's perspective, collaborating with various major law firms. Drawing upon his extensive practical experience accumulated in the field, he is committed to providing tailored solutions, not only advisory services but also litigation support, to corporate clients. 4. Recruitment of Foreign Lawyer With recent concerns over deflation in China, attitudes of Korean companies towards China have become notably cautious. Consequently, there is a growing need for professional advice regarding entry into the Chinese market. Recognizing this demand, Lin has recently recruited Ms. Wenpu Yang (Chinese attorney), aiming to provide high-quality legal service that aligns with our clients’ business strategies and management objectives on various issues related to Sino-Korean business relations. Going forward, Lin promises to continuously recruit verified talents in various fields to ensure customer satisfaction.2024.02.05
[2024 Korea’s Best Law Firms & Lawyers] Managing Partner Jin Seok LIM, “LIN Will Be a Symbol of Trust Through Fusion Like a Blast Furnace.”
▲ Managing Partner of LIN, Jin Seok LIM
Managing Partner Jin Seok LIM has been leading LIN for seven years strengthening its foundation and won the Innovation Award. He cites the creation of synergy among members as the firm's competitive advantage and emphasizes its equal environment. LIN has also stood out in competition with large law firms, attracting professionals with diverse backgrounds.
LIM has eliminated authoritarianism through the Three-No’s policy and actively reflects the opinions of members in management meetings. “Each lawyer can proudly practice under their own name and be rewarded generously for their work,” he said, adding that he is “doing his best to ensure all members can realize their lives and tasks as professionals, which is natural but not common.”
To strengthen the specialized team system, LIN has launched new teams such as the Management Dispute Team and the Government Relation Team. The teams work together organically and share knowledge to establish a collaborative system. LIM emphasized that as change accelerates and new legal needs continue to arise, specialized lawyers will continue to be in demand in a segmented market.
“Associate lawyers are assigned to specialized teams at appropriate years, receiving quality training, and growing rapidly as professionals,” LIM said. With these professionals, LIN has successfully handled high-profile cases and garnered attention, all of which LIM attributes to team collaboration and effort.
LIN’s representative achievement was leading the Constitutional Court's decision of unconstitutionality and nonconformity to the constitution regarding the legal reserve of inheritance system, which is considered a legally and socially significant decision. The Constitutional Court recognized that the provisions of the Civil Act that stipulated the legal reserve of inheritance violated the constitutional principle against excessive restrictions, which in turn violated property rights.
LIN also achieved the prosecution’s decision of no charges in a case involving alleged market manipulation by Kakao Entertainment, won a management dispute of Artist United, where actor Jung-jae LEE is the largest shareholder, and won the case invalidating the exclusive contracts of “Girl of the Month” members. LIM emphasized that these achievements were “important steppingstones to showcase LIN's potential.”
LIM said that from next year, he will enhance LIN’s brand value, provide excellent advice, and establish LIN as a symbol of trust and victory.
He predicts that the use of technology will become a key factor of the competitiveness of law firms, explaining that the first wave of change in the law firm industry over the past two to three years has been driven by new market development and strategic approaches. Furthermore, he forecasted that the second wave of change will be driven by efficiency and concentration on high-value-added work using AI technology.
Finally, LIM emphasized, “I hope that lawyers will no longer rely on the authority of the past, but become the protagonists of writing new horizons and history with a challenging mind.”
For the complete coverage, please refer to the original article below.
The Korea Economic Daily Business
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https://v.daum.net/v/20241126070701470
[2024 Best Law Firms & Lawyers in Korea] LIN receives “Innovative Law Firm Award”
■ Cover Story 2024 Korea's Best Law Firms & Lawyers
Corporate legal officers need to know law firms well as their responsibility is to find and hire competent law firm when their companies face legal issues.
“Korea's Best Law Firms & Lawyers,” organized by The Korea Economic Daily Business, The Korea Economic Daily, and the In-house Counsel Forum (ICF), is an annual survey of in-house counsel and corporate legal staff who are the actual users of law firms. Launched in 2010, it has now reached its 15th year.
The significance lies in the direct selection of the most capable law firms and attorneys by those who have actual experience working with them.
To enhance the credibility of the evaluation, expert review was also conducted. The final results were determined through qualitative evaluation by the Evaluation Committee” composed of professors from major law schools and corporate legal team executives. Here we introduce the “2024 Korea’s Best Law Firms & Lawyers” that are driving the Korean legal market.
The “2024 Korea’s Best Law Firms” expertise evaluation covered 14 sectors, including “General Finance (Banking, Securities, Fintech, etc.),” “M&A/ IPO,” and “Tax & Customs.”
The survey was sent to corporate legal officers and ICF members, the main clients who knock on law firms' doors, and asked them which law firm in Korea they thought the most competent.
More than 2100 people completed the survey. Their answers were scored, and the results were reviewed by the Evaluation Committee (six members, including Lee Hwang, Dean of Korea University Law School). The Committee made a qualitative evaluation based on achievement reports submitted by major law firms. The final rankings were determined by excluding all responses with unclear names or affiliations.
■ LIN Wins “Innovative Law Firm Award” in 2024 Best Law Firms Expertise Category
Founded in 2017, LIN won the “Innovative Law Firm Award” at “Korea's Best Law Firms & Lawyers.” The firm has been one of the most prominent firms in the industry in recent years, actively recruiting veteran lawyers from large firms such as Kim & Chang. The firm currently has more than 100 lawyers. It has grown to the size of a large law firm. LIN is making strides in various areas with its talented lawyers and is evaluated as a law firm that could potentially cause significant changes in the industry in the near future.
For the complete coverate, please find the original article below.
The Korea Economic Daily Business
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https://v.daum.net/v/20241126070802475
Jin Seok LIM & Hong Won LEE Selected as “Leading Lawyers” by Legal Times 2024 – Securities & Finance
As attorneys practicing in law firms become increasingly specialized and their expertise continue to deepen, Legal Times select outstanding corporate lawyers in Korea as “Leading Lawyers 2024” across 13 practice areas, including securities and finance, corporate and M&A, IP, and TMT.
[Leading Lawyer 2024 – Securities & Finance]
Jin Seok LIM (20th class of the Judicial Research and Training Institute), Managing Partner, and Hong Won LEE (31th class of the Judicial Research and Training Institute), attorney at LIN, were recognized as Leading Lawyers in the “Securities & Finance” category in the October issue of Legal Times' Leading Lawyers 2024 special issue.
The Securities & Finance sector is an important area considered as one of the two pillars of corporate legal practice along with the corporate law field. As new financial techniques are developed one after another, the field is becoming increasingly specialized, and lawyers are developing deeper expertise. Fintech, digital finance, etc. are known as the most prominent areas that are gradually emerging, and the demand for financial regulatory advisory services is constantly increasing.
Jin Seok LIM worked in the finance team at Kim & Chang from 1994, handling various disputes and tasks in most areas of the finance sector, including banking and securities. Based on his experience and know-how from active external activities, including as an advisor to the Ministry of Economy and Finance, he became the Managing Partner of LIN in the second half of 2017 with his long-set goals of conducting dynamic legal practice and training the next generation of attorneys.
Hong Won LEE’s practice focuses on financial regulations, inspection response, licensing and permits (including internet-only banks), and investment and securities-related advisory and litigation. He has built substantial expertise in both advisory work and dispute resolution.
For the complete coverage, please find the original article below.
Legal Times
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https://www.legaltimes.co.kr/news/articleView.html?idxno=81946
