Shaman indicted on illegal political funds charges

A shaman allegedly involved in the presidential campaign of now-impeached President Yoon Suk Yeol was indicted on charges of taking illegal political funds from a politician who ran for the 2018 local elections, officials said Friday. The Seoul Southern District Prosecutors Office said it indicted Jeon Seong-bae without physical detention on charges of violating the Political Funds Act. Jeon, better known as Geonjin, is suspected of receiving about 100 million won ($69,027) in illegal political

Jan. 10, 2025

Constitutional Court 'not shaken' by attempts to sway public opinion

The Constitutional Court of Korea stated Thursday that it remains "unshaken" by attempts by various parties to influence or manipulate public opinion outside the courtroom. “As an independent adjudicative body, the Constitutional Court is not swayed by public opinion battles outside the courtroom and is proceeding with a fair trial,” Cheon Jae-yeon, spokesperson of the court, told reporters regarding the ongoing public opinion battle between the National Assembly and President Yoon Suk Yeol’s le

Jan. 9, 2025

Bar association joins calls for special counsel to investigate Yoon

A special counsel must be appointed to investigate insurrection charges against South Korean President Yoon Suk Yeol, Korean Bar Association President Kim Young-hoon said Tuesday, stressing it as essential to resolving the controversy over related criminal investigations. Recently, concerns have been raised regarding investigative authorities being unable to exercise an arrest warrant for Yoon due to the Presidential Security Service citing Korean law that prohibits investigations into areas dea

Jan. 7, 2025

[Bill in Focus] Food technology, digital medical products

Proposed Bill: Partial Amendment to the Banking Act Proposed by Rep. Park Ju-min (Democratic Party of Korea) ●To improve transparency and rationalize lending rates, this amendment mandates banks to disclose how they calculate their lending rates, including the specific factors that affect additional interest rates. Proposed Bill: Partial Amendment to the Telecommunications Business Act Proposed by Rep. Shin Sung-bum (People Power Party) ●Mobile virtual network operators have recently gained pop

Jan. 6, 2025

Prosecutors indict army chief, ex-martial law commander on insurrection charges

The top commander of the Army and the general who was briefly martial law commander a month ago were indicted by prosecutors on Friday, on charges of insurrection and abuse of power over their alleged roles in the Dec. 3 martial law imposition. Prosecutors indicted Army Chief of Staff Gen. Park An-su, who served as martial law commander, and Lt. Gen. Kwak Jong-keun, chief of the Army Special Warfare Command, under detention, accusing them of playing "key roles in the act of insurrection" tied to

Jan. 3, 2025

Court issues arrest warrant to detain Yoon

A Seoul court approved a request from investigative authorities to detain South Korean President Yoon Suk Yeol over his short-lived martial law declaration on Dec. 3, making him the first sitting president to face arrest in Korea's constitutional history. The Seoul Western District Court on Tuesday issued the warrant against Yoon on charges of leading and organizing the martial law declaration in early December as well as abuse of power, according to legal sources. The court’s decision comes a d

Dec. 31, 2024

Mother of legendary labor activist acquitted of martial law violations after 44 years

Court rules 1980 emergency measures unconstitutional The mother and younger brother of legendary labor activist Jeon Tae-il were acquitted of martial law violations more than 44 years after their initial convictions under Chun Doo-hwan's military regime, court officials said Friday. They were among four people whose charges were ruled invalide by the Seoul Eastern District Court, due to the unconstitutional nature of the emergency martial law under which they were prosecuted. Jeon's mother Lee S

Dec. 27, 2024

Constitutional Court nominees say Han qualified to confirm them

Two nominees recommended by the opposition Democratic Party of Korea say acting President Han Duck-soo has right to nominate them.

Dec. 23, 2024

Supporting semiconductors, securing worker safety

Proposed Bill: Partial Amendment to the Commercial Act Proposed by Rep. Park Ju-min (Democratic Party of Korea) ● Under the current Commercial Act, major shareholders’ voting rights are capped at 3 percent when appointing an auditor. To better represent the interests of minority shareholders, this amendment seeks to extend the “3 percent rule” to apply during mergers between affiliated companies. Proposed Bill: Partial Amendment to the Financial Investment Services and Capital Markets Act Propo

Dec. 23, 2024

[Legal updates in Korea] Resident identification card goes mobile

● Updated law: Resident Registration Act What it does: South Korean citizens will be issued with mobile identification cards Takes effect: Dec. 27 Punishment: None All South Korean citizens aged 17 or older who hold a national identification card can apply for a mobile one starting Dec. 27. This is the first time that digital resident ID cards have been issued in Korea. Citizens can either visit a local civic center, where they can activate their mobile ID by scanning a one-time QR code or tap a

Dec. 23, 2024

Defense technology security, urban planning reform

Proposed Bill: Partial Amendment to the Financial Investment Services and Capital Markets Act Proposed by Rep. Yoon Han-hong (People Power Party) ● This amendment requires boards of directors to take steps to safeguard shareholders‘ interests when planning significant capital transactions, such as m

Dec. 16, 2024

Strengthening shareholder rights, clearer M&A transparency

Proposed Bill: Partial Amendment to the Commercial Act Proposed by Rep. Lee Jung-mun (Democratic Party of Korea) ● To better protect the interests of general shareholders, this amendment broadens the scope of directors‘ duty of loyalty to include both the company and its shareholders. Additionally,

Dec. 10, 2024

Enhancing AI safety, regulating MVNO dominance

Proposed Bill: Partial Amendment to the Financial Investment Services and Capital Markets Act Proposed by Rep. Kim Sang-hoon (People Power Party) ● This amendment seeks to innovate the trust system by allowing liabilities, like mortgages, to be included in trusts. Currently, trust assets are limited

Dec. 2, 2024

Promoting chip sector growth, fair LLC audits

Proposed Bill: Special Act on Strengthening Competitiveness and Promoting Innovative Growth in the Semiconductor Industry Proposed by Rep. Lee Chul-gyu (People Power Party) ● Amid the intensifying global competition for semiconductor dominance, this bill introduces measures to bolster Korea’s semico

Nov. 29, 2024

[Legal updates in Korea] Providing housing for 'jeonse' fraud victims

● Updated law: The Special Act on Supporting Jeonse Fraud Victims and Housing Stability What it does: Allows "jeonse" fraud victims to live in public housing without paying rent for 10 years Took effect: Nov. 11 Punishment: None "Jeonse" is a unique Korean system in which renters give landlords a large returnable deposit instead of paying monthly rent. The system has existed for decades, but in recent years, scammers have taken advantage of the system, refusing to return th

Nov. 25, 2024