Page 6 - Framework Act News Today

Namkoong Whon, co-CEO of Kakao, stepped down on Wednesday to take responsibility for the recent service disruptions including its popular messenger app KakaoTalk due to a data center fire and vowed to complete a backup system within two months to prevent a recurrence. “Currently, most of our services have been normalized. We have caused great inconvenience for a lengthy period of time as our response did not meet the expectations of users,” Namkoong said during a press conference at its offi...

The Financial Supervisory Service (FSS) is looking into whether Kakaos financial affiliates took timely countermeasures after a fire broke out at a data center on Saturday. Accord...

Han-Jin Lee, Sung Yun Kang and Mooni Kim of Kim & Chang explain why multilateral cooperation to achieve global harmonisation of the laws and regulations in the digital asset market is more important than ever

The paper says it is high time for Korea to encourage more people to get married or give birth to babies even without being formally married. Read more at straitstimes.com.

The Ministry of Gender Equality and Family has changed its position on recognizing common-law marriage and cohabitating households as legal families. The liberal opposition Democratic Party of Korea proposed an amendment recently to the Framework Act on Healthy Families, aiming to delete a clause in the act that defines family as a “unit formed by marriage, blood ties and adoption.” However, the ministry submitted its opinion to the National Assembly last week, saying that the act “needs t...

The Ministry of Gender Equality and Family is backtracking on its plan to embrace diverse forms of families - such as unmarried cohabitating couples - as formal legal households, drawing criticism from civic groups, which support the move.

With new and burgeoning enterprises waging war over attracting and keeping talent, granting shares to their most formidable knights in exchange for loyalty is ever more popular

The categories of information that OSA publishes and how to get that information.

No tolerance for inherited employment

This article highlights some of the key legal issues surrounding project finance transactions in South Korea, including government approvals, financing registration and governing law.