Jin & Kim, PLC | Legal Blog

Short AnswerGenerally, not without agreement. A Korean supplier cannot automatically increase the contract price simply because raw material costs, labor costs, exchange rates, transportation costs, energy prices, or production expenses increased after the contract was signed.In most commercial contracts, the supplier remains bound by the agreed price unless the contract contains a price adjustm..

Short AnswerYes, potentially. Under Korean law, a contract may be changed through emails, messages, purchase orders, meeting minutes, or other business communications if they show that the parties actually agreed to modify the contract.However, later communications do not automatically amend an existing contract simply because one party sent them or the other party did not immediately object.The..

Short AnswerPotentially, yes — but only within limits.If a Korean distributor has already lawfully purchased and obtained ownership of genuine inventory, the distributor may have an argument that it can continue selling that inventory after the distribution agreement ends, unless the contract clearly provides otherwise.However, selling remaining inventory is different from continuing to use the ..