Short AnswerForeign companies should cooperate appropriately with Korean authorities, but they should first determine which authority is conducting the investigation and what legal procedure is being used.Each authority has different legal powers, investigative procedures, and potential consequences. The appropriate response depends on the type of investigation—not simply on the fact that govern..

Short AnswerYes, but cross-border transfers of personal data are regulated under Korean law.Under the Korean Personal Information Protection Act (PIPA), personal data collected in Korea cannot simply be transferred overseas without a proper legal basis.In practice, foreign companies should check whether the transfer falls under one of the recognized legal grounds, such as separate consent, a sta..

Short AnswerCompanies should stay calm, cooperate appropriately, and quickly identify the legal basis for the raid.In Korea, a “dawn raid” may refer to different types of government action.It may involve:A criminal search and seizure by prosecutors or policeAn on-site investigation by a regulatory authorityAn inspection by an agency such as the Korea Fair Trade Commission (KFTC), Personal Inform..

Short AnswerForeign companies doing business in Korea should understand that Korean competition law may apply even if the company is incorporated overseas.Under the Korean Monopoly Regulation and Fair Trade Act (MRFTA), conduct outside Korea may still be regulated if it affects the Korean market.For foreign companies, competition law issues commonly arise in ordinary commercial activities, inclu..