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Sun, July 22, 2018 | 17:37

Opinion > Blogs > New Technologies & The Law >

Penalties for cryptocurrency crimes

Between February and May this year, Korean investigators conducted search and seizures at some of the leading cryptocurrency exchanges on suspicion of various charges. Recently the scope of the investigations has expanded to include companies that have held initial coin offerings (ICOs).

New Technologies & The Law | 2018-07-21 09:01

Are overseas initial coin offerings beyond Korean law?

Officially, it is Korean government policy that all initial coin offerings (ICOs) are prohibited. However, as a lawyer, I believe Korea lacks legal grounds to make illegal all kinds of ICOs, especially in the case of utility token ICOs, because there is as yet no particular law to regulate and prohibit them unless the tokens are security tokens.

New Technologies & The Law | 2018-07-16 14:24

Many differences between Korean, EU data protection laws

The European Union's General Data Protection Regulation (GDPR) came into effect on May 25, 2018. The purpose of this law is to regulate the storage, processing and transfer of the personal data of individuals living in the EU, but it also affects companies outside the EU who have anything to do with the data of EU residents, which is why it is relevant to Korean businesses.

New Technologies & The Law | 2018-06-30 10:04

Accounting fraud and accounting standards

The issue of whether accounting fraud has been committed is now being hotly debated among a certain bio-industry company, its accounting firm and the Financial Supervisory Service. The last accuses the first of fraud.

New Technologies & The Law | 2018-06-27 14:47

Employment status in ride-hailing services

Ride-hailing services like Uber, Lyft, Grab, etc. have had an innovative impact on the conventional taxi industry. They have improved the quality of transport services by competing with taxi companies. They contribute to the development of IT technology through their apps, which also make other businesses grow such as those processing transport data.

New Technologies & The Law | 2018-06-17 11:56

Do startups need legal advice?

In Korea, many start-ups, such as those involved in block-chain technology, are forming in the flow of the fourth industrial revolution. Most of these companies begin only with a name and a plan. And most of them think, “legal advice is not a problem because our company is just a startup." But this is a really bad idea.

New Technologies & The Law | 2018-06-10 11:04

Privacy issues in blockchain technology

The cryptocurrency fever that has shaken the world since the end of last year has been arousing people's interest in blockchain technology and letting them know what it is. Recently, many platforms utilizing the technology have emerged, meaning that it is gradually becoming a part of our everyday life, not simply a measure of investment or speculation.

New Technologies & The Law | 2018-06-05 14:02

Time to adopt negative regulatory system

Government regulatory policies can be divided into two main categories: positive and negative regulations. Positive regulations define what is legal and prohibit everything else. On the other hand, negative regulations define what is legally prohibited and allow for everything else. In short, a positive regulatory system says "just do this" and a negative one says "everything...

New Technologies & The Law | 2018-05-28 14:47

A legal perspective matters for innovation

“Simple can be harder than complex.” This is a famous quote from the late Steve Jobs. Innovation comes from simple ideas.

New Technologies & The Law | 2018-05-19 10:12

The legal status of online game items in Korea

Computer games, which used to be regarded as simple amusements, have evolved to offer a whole other world to the players of today.

New Technologies & The Law | 2018-05-13 10:19

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