Jin & Kim, PLC | Legal Blog

Short AnswerYes, potentially. A Letter of Intent (LOI) or Memorandum of Understanding (MOU) may become legally binding in Korea, even if the parties intended it to serve only as a preliminary document.Whether an LOI or MOU creates enforceable obligations depends not on its title, but on its wording, the parties' objective intentions, the surrounding circumstances, and the applicable law.Many cro..

Short AnswerWhen a purchase order, quotation, and main agreement contain conflicting terms, the controlling document depends on the contract structure, the parties’ conduct, and the applicable law.In Korea, the answer is not simply that the latest document controls or that a purchase order automatically changes the main agreement. The key questions are whether the contract contains an order of p..

Short AnswerYes. Before a divorce is finalized, a spouse may, in appropriate circumstances, ask a Korean court to issue provisional measures to preserve assets. In practice, this usually involves seeking a Provisional Attachment (가압류) or a Preliminary Injunction (가처분) over specified assets or legal rights.The term "freeze assets" is often used in everyday language, but Korean law does not impose..

Short AnswerIt depends. If you are filing for divorce in Korea, your spouse may need to be served outside Korea in accordance with Korean procedural law, applicable international treaties, and the law of the country where the documents will be served.Whether international service is required first depends on whether the Korean court has jurisdiction over the divorce. If jurisdiction exists, the ..

Short AnswerMore than one country may have jurisdiction over an international divorce. Whether a Korean court may hear the case depends on the rules of Korea's Act on Private International Law, including both its general jurisdiction principles and the special jurisdiction rules for matrimonial proceedings.In many international divorce cases, jurisdiction does not depend solely on nationality or..

Short AnswerIt depends. A foreign child custody order is not self-executing in Korea. Whether it has legal effect depends on whether it satisfies the requirements for recognizing foreign judgments under Article 217 of the Korean Civil Procedure Act, and practical enforcement may require additional proceedings before a Korean Family Court.Recognition of a foreign custody judgment and its practica..

Short AnswerIn many cases, yes. Foreign heirs can often complete a Korean inheritance without traveling to Korea by appointing a Korean attorney or other authorized representative through a properly executed Power of Attorney (POA).However, cross-border inheritance involves much more than signing a POA. Questions involving applicable law, document authentication, succession registration, inherit..

Short AnswerForeigners can generally buy a building or commercial unit in Korea, but commercial real estate requires more careful due diligence than a simple residential purchase.Before signing a purchase contract, foreign buyers should review the real estate registry, building register, existing leases, tenant deposits, permitted use, illegal construction risks, management fees, tax costs, fore..

Short AnswerBefore signing a lease or purchase contract in Korea, foreigners should review the Korean real estate registry. This document is commonly called a real estate registry extract (부동산등기부등본), although the official document is generally referred to as a certificate of registered matters.The registry helps confirm the registered owner, mortgages, attachments, provisional attachments, trust..

Short AnswerForeigners can generally buy real estate in Korea, including residential property, commercial property, land, buildings, and investment property.However, buying real estate in Korea is not just a private purchase contract between the buyer and seller. Foreign buyers should also review the property registry, contract terms, restricted-area issues, foreign exchange procedures, reportin..