LIN NEWS
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LIN NewsSeminar Held on “Trump Administration 2.0 and Investing in the U.S.: A Case Study on Utah”Amid heightened attention to policy shifts following the inauguration of the Trump Administration 2.0, a seminar was held on Tuesday, March 25, at the Federation of Korean Industries (FKI) Tower in Seoul, co-hosted by LIN and the WTC Utah to examine investment strategies in the U.S. and share Utah's case. In his opening remarks, Jin Seok Lim (Managing Partner of LIN) emphasized that now is the time for Korean companies and individual investors to pursue new opportunities to enter the U.S. market and that a more strategic approach is required. He expressed his hope that the seminar would serve as an opportunity to build practical partnerships both in Utah and the U.S. In Session 1, Alex Miller, Investment Consultant (International Trade Administration, U.S. Department of Commerce, Washington, D.C.), introduced “SelectUSA,” the U.S. government's investment promotion program, explaining the policies and infrastructure at the federal level to encourage foreign investment. Session 2 featured Attorney Tae Joon Bae (LIN), who explained the requirements and procedures of the EB-5 immigrant investor program and provided insights into the possible introduction of the Gold Card program, which has recently attracted attention. Subsequently, Foreign Attorney David H. Yang (LIN) analyzed the renewed emphasis on industrial policy in the US in a geopolitical context and discussed the importance of localization strategies and the role of foreign investment professionals in responding to it. In Session 3, David Carlebach, Chief Operating Officer of the WTC Utah, introduced the recent changes in the investment climate in Utah, emphasizing that the state is emerging as a promising investment destination in the U.S. based on its favorable business environemnt, stable infrastructure, and responsive administrative system. He also pledged to actively support Korean investors in their successful entry into the U.S. In Session 4, CEO Kang Soo Lim (Medicell-Healthcare) shared his experience of entering the US healthcare market through the state of Utah. He said that the state's active administrative and institutional support gave him the confidence to take on the challenge of entering the US market, and he was able to achieve results that exceeded his expectations. Concluding the seminar, Dong Soo Jung, CEO of WTC Utah in Seoul said that the seminar was very beneficial for companies seeking to proactively respond to the policy changes of the Trump Administration 2.0 and to establish strategic investment foothlds in the U.S. He expressed his hope that the two countries will continue to have substantial investment cooperation in the future.2025.05.08
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News Letter[Mobility Legal Updates] [Issue]LIN's Mobility Team closely monitors not only domestic regulatory trends in industries such as automotive, energy, and AI, but also U.S. policies that may directly or indirectly impact these sectors. In January 2025, towards the end of the Biden administration's term, the U.S. Department of Energy (DOE) included South Korea in its 'Sensitive and Other Designated Countries List (SCL)’, and this measure took effect as scheduled on April 15, 2025. As this designation as a sensitive country is expected to affect the U.S. market entry and technological cooperation of domestic companies and research institutions, this issue report aims to examine the meaning of the sensitive country designation, its impact on businesses, response strategies, and implications. 1. Significance of the Sensitive Country Designation1 The U.S. DOE internally maintains and regularly updates the Sensitive Country List (hereinafter "SCL") based on concerns related to national security, nuclear non-proliferation, and support for terrorism, imposing restrictions on research cooperation and technology sharing with those countries listed. In the latest SCL, the DOE classified countries such as North Korea and Iran as 'State Sponsors of Terrorism,' countries such as China and Russia as 'Countries of Concern,' and South Korea, Taiwan, and Israel into the lowest tier, 'Other Designated Countries2. South Korea has been re-included in the SCL after 30 years, having previously been listed for approximately 13 years from 1981 to 1994. Once designated as a sensitive country, ① the sharing of advanced technology information, such as nuclear energy and artificial intelligence (AI), with the U.S. may be restricted, and ② researchers from the designated country must undergo enhanced special approval procedures, including submitting background check documents at least 45 days prior to visiting DOE- affiliated research facilities. Furthermore, stricter security standards apply when DOE employees or related researchers visit or interact with South Korea. 2. Potential Impact on Businesses and Research Institutions The DOE has not yet officially disclosed the specific reasons for designating South Korea as a sensitive country. However, the DOE maintains that this measure was taken as part of strengthening technology security and is unrelated to foreign policy3. Therefore, with the SCL taking effect, the immediate surface-level impact is likely limited to restricting domestic companies' access to DOE facilities. However, if the designation is not lifted and becomes prolonged, reduced cooperation and decreased national credibility could lead to various regulations and restrictions in areas such as contractual relationships with U.S.-based companies, technology transfer and joint research, personnel exchange, export controls, M&A, and compliance. A. Increased Overall Contract Risk Inclusion in the SCL may lead to decreased national credibility and potentially hinder cooperation between companies or institutions. This could result in disadvantages during contract negotiations with U.S. companies regarding terms such as performance conditions or confidentiality clauses. Particularly in technology transfer and joint research projects within the energy, nuclear, and advanced technology sectors, the sensitive country designation could cause delays in contract performance or make concluding contracts more difficult. This is because psychological uncertainty stemming from concerns about heightened U.S. regulations might lead to hesitation in entering new contracts. Furthermore, there could be associated risks, such as liability for damages arising from non-performance of contracts. A prime example is the potential difficulty in concluding the Reciprocal Defense Procurement (RDP) Agreement, often referred to as the FTA for the defense industry between the U.S. and South Korea, which has been under preparation for a long time. While some view that the sensitive country designation could negatively impact small modular reactor (SMR) development projects or the ongoing efforts to conclude the nuclear power plant export contract with the Czech Republic, the prevailing view is that these projects are unlikely to be significantly affected by the designation at present. B. Restrictions on Personnel Exchange Sending domestic research personnel and technical experts to U.S. research institutions for assignments or training may become difficult, and visits by U.S. experts to South Korea could also face constraints due to enhanced security procedures. It cannot be ruled out that the designation as a sensitive country might influence decisions when selecting international students or visiting researchers from South Korea, or negatively impact the standing of South Korean researchers within U.S. research institutions. Consequently, companies may face challenges in securing key personnel, and there are concerns that long-term technological cooperation and innovation between the two countries could be hampered. C. Export Controls The SCL is linked to U.S. national security policies and export control regulations4 Therefore, cooperation with domestic institutions in research areas such as nuclear energy, high- performance computing, and dual-use (civilian and military) technologies may potentially be restricted. While the SCL itself does not directly regulate exports, individuals and institutions from sensitive countries may be subject to additional screening under U.S. export control laws. Additionally, screening for exports of specific technologies and equipment between South Korea and the U.S. could be tightened, and obtaining export licenses for technologies related to U.S. national security might be delayed. Notably, given that most major South Korean defense export products utilize U.S.-made components, there is a possibility of disruptions in U.S. export approvals for products incorporating these components. D. Other Impacts The sensitive country designation could indirectly affect cooperation not only with the DOE but also with other U.S. government agencies. Furthermore, it might raise concerns about South Korea's overall technology security and reliability, leading to increased compliance burdens, such as requirements for higher security standards. Moreover, beyond export controls, difficulties in U.S. market entry could arise, such as restrictions on equity investments in U.S. companies in advanced technology fields like energy, AI, and semiconductors, or more stringent procedures for establishing corporations, obtaining business approvals, or other verification processes within the U.S. 3. Response Strategies and Implications Admittedly, the sensitive country designation itself seems unlikely to directly impact domestic corporate activities immediately. However, since it is uncertain when the designation will be lifted,5 proactive measures are necessary while the designation is in effect to minimize potential risks. Primarily, domestic technology companies should continuously monitor diplomatic policy developments between South Korea and the U.S. and government responses. They must also meticulously review the contents of existing contracts or those currently under negotiation with U.S. companies to preemptively identify potential dispute factors related to the sensitive country designation, such as technology access rights, security and confidentiality clauses, grounds for contract termination or modification, and damage compensation clauses. Additionally, it is crucial to strengthen internal compliance and security systems to prevent devaluation of corporate value due to the sensitive country designation, thereby thoroughly preparing for future partnerships or M&A activities with U.S. companies. Today, the mobility industry, led by electric and smart vehicles, has become inextricably linked with the AI and energy industries. Correspondingly, technological cooperation with the U.S. plays a vital role in the development and commercialization of autonomous driving and AI technologies. Therefore, if tensions in technological cooperation between South Korea and the U.S. intensify, it could become a significant obstacle to the advancement of the domestic mobility industry. LIN's Mobility Team will closely monitor these internal and external changes surrounding the mobility industry, promptly diagnosing potential legal risks companies may face and proposing optimal response strategies. ---------------------------------------------------------------------------------------------- 1 Legal Basis: ①Order concerning the Unclassified Foreign National Access Program (DOE Order O 142.3B), ② 50 U.S. Code § 2652 - Restrictions on access to national security laboratories by foreign visitors from sensitive countries, which stipulates: "The Secretary of Energy and the Administrator may not admit to any facility described in paragraph (3) of subsection (c) other than areas accessible to the general public any individual who is a citizen or agent of a covered foreign nation or a nation on the current sensitive countries list unless the Secretary or Administrator first completes a background review with respect to that individual.” 2 As the SCL is not publicly available information, the specific countries and the exact number within each tier cannot be officially confirmed. However, it is currently understood that the list includes a total of 25 countries. Among these, six countries (North Korea, Iran, Syria, Libya, Sudan, and Cuba) are designated as State Sponsors of Terrorism, and two countries (China and Russia) are separately designated as Countries of Concern, while countries such as South Korea, Taiwan, and Israel are understood to be classified as Other Designated Countries. 3 Regarding the controversy over South Korea's addition to the sensitive countries list, Acting U.S. Ambassador to South Korea Joseph Yun reportedly explained that the designation stemmed from incidents last year where some among approximately 2,000 South Korean nationals (including students, researchers, and public officials) visiting multiple DOE-affiliated laboratories inappropriately handled sensitive information, including at facilities dealing with export-sensitive items. He further stated that the measure stems from technical and procedural issues related to handling sensitive information and clarified that it is not expected to significantly impact the overall ROK-U.S. alliance. 4 The institutional origins of the sensitive country designation lie in the Export Control Reform Act (ECRA) and the Export Administration Regulations (EAR). This framework originates from regulations restricting exports when strategic materials or dual-use technologies usable for military applications are judged to pose a risk of diversion overseas. 5 In the past, after South Korea's request to be removed from the sensitive country designation was accepted in December 1993, the designation was lifted in July 1994. However, even after the removal request was accepted, it took approximately 7 months until the actual removal occurred.2025.04.25
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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