Guides
Korean rules on tax, staff, visas and company paperwork, explained for foreigners by PAPATONY.
39 guides
Answer a client's privacy audit request with evidence for each article
A client's audit request is a legal duty, and companies that process personal data for clients in Korea answer it article by article, with evidence.
Legal & compliance6 min read
After a payment order objection, pay the stamp shortfall or face dismissal
Creditors facing an objection to a payment order must pay the stamp duty difference by the court's deadline, or the payment order application is dismissed.
Legal & compliance5 min read
A provisional attachment can be cancelled if you delay the main lawsuit
Security may be required even with good evidence when creditors freeze a debtor's assets in Korea, and delaying the main lawsuit can cost them the attachment.
Legal & compliance5 min read
Destroying personal data: methods set by law and a five-field record
Korean law sets how personal data must be destroyed once no longer needed. A five-field record lets your company prove it in client audits or official checks.
Legal & compliance5 min read
Personal data breach: notice and report are separate, both within 72 hours
If personal data leaks in Korea, notify the affected people within 72 hours. A report to the regulator, also due within 72 hours, is needed only in three cases.
Legal & compliance5 min read
Director pay in Korea needs the articles or a shareholders' resolution
Director pay at companies in Korea needs a basis in the articles of incorporation or in a shareholders' resolution, under Commercial Act Article 388.
Legal & compliance5 min read
Banks must identify a company's beneficial owner: the 25% test and 3 steps
Banks must identify who ultimately controls a company when founders open its bank account in Korea, starting with anyone holding 25% or more.
Legal & compliance4 min read
A contract without a seal is still valid; the issue is proving it later
A seal is not needed to form a contract in Korea, but a signature or seal makes a private document presumed genuine in court.
Legal & compliance5 min read