2023 K-LAW Highlights

The beneficiary, a U.S. citizen facing mobility challenges, sought assistance through a representative in Korea but encountered hurdles due to unfamiliarity with the disbursement process and tax procedures. Complicating matters, the beneficiary faced challenges as the Korean court, lacking an understanding of the U.S. notarization and apostille system, along with stringent document requirements from the court's expropriation officials, further added to the complexity. Leveraging our rich experience and expertise, K-Law Consulting promptly responded to the court's requests, devised a U.S. notarization method acceptable to the Korean court, and guided the client to smoothly retrieve the compensation. Our comprehensive approach also facilitated a one-stop resolution for transfer taxes and late payment penalties associated with the compensation disbursement.

In 2023, K-Law Consulting successfully provided extensive assistance in numerous inheritance cases involving U.S. citizens and residents who passed away, leaving behind inherited properties such as real estate, stocks, and bonds in Korea. Our services covered inheritance division agreements, registrations, payment of various taxes, including acquisition tax and inheritance tax, post-registration management of inherited properties (sales, gifts, etc.), and distribution. This allowed heirs to navigate through these complex procedures without the need to visit Korea. We tailored optimal solutions to address challenging inheritance issues, particularly in cases involving diverse property types, a significant number of Korean properties, heirs residing in both Korea and the U.S., or instances with disputes or intricate rights among heirs.

This case involves a client who faced a stay of indictment in Korea, posing challenges for a visit to his home country for nearly 30 years. Without the need for the client to be physically present at the Korean Prosecutors' office, K-Law Consulting represented the client in the United States, formally requesting the resumption of the investigation and engaging in communication with investigators. Successful negotiations with the victim in Korea resulted in a settlement, leading to the closure of the case with a non-prosecution decision. This accomplishment not only resolved the long-standing legal matter but also fulfilled the client's desire to visit his home country.

K-Law Consulting has successfully represented clients planning to immigrate to Korea, providing seamless legal advice across various aspects of living. Our services extend from obtaining Korean visas to securing residence permits, reviewing apartment contracts, facilitating the moving-in process, and addressing issues related to reporting, registration, and taxation in accordance with Korean government regulations. In the complex landscape of the Korean real estate market, particularly in cases involving potential pitfalls like lease scams, we have been instrumental in offering essential legal guidance, reviewing rights and responsibilities, and ensuring our clients make informed decisions. By carefully navigating issues such as identifying rental properties where deposit repayment might be at risk and responding to unwarranted requests for excessive brokerage fees, we have guided our clients to avoid unreasonable discrimination and potential harm, ensuring a smooth settlement in Korea during the immigration process.

K-Law Consulting has successfully provided ongoing consultation services to Korean companies entering the U.S. market. Over the past year, K-Law Consulting has acted as an Outsourced In-House Counsel for a diverse range of Korean companies, offering legal advice not only on corporate operations in the U.S. market but also on various practical aspects at an optimal cost. The firm has received positive feedback from clients who appreciate the satisfaction derived from these services. Leveraging a deep understanding of various industries and extensive practical experience in the legal systems of both South Korea and the U.S., the K-Law Consulting team supports clients in expanding and operating their businesses with confidence.

This noteworthy case entailed the acquisition of a Korean company by a U.S. entity, coinciding with the target company's ongoing bankruptcy and rehabilitation proceedings in the Korean courts, introducing heightened complexity and challenging issues. Drawing on an in-depth understanding of the Korean legal system and a specialized expertise in M&A, K-Law Consulting adeptly steered the intricate recovery process and acquisition for the Korean target company. The comprehensive services provided encompassed not only meticulous legal due diligence and scrutiny of Korean law issues pivotal for the U.S. company's decision on the acquisition but also extensive support spanning diverse areas such as taxation, foreign remittance, and accounting. This holistic approach facilitated an efficient and cost-effective M&A process for the U.S. company, marking a significant milestone in its inaugural investment in Korea.

The K-Law Consulting team assisted a U.S. investor facing language barriers in reviewing Korean investment contracts and related documents received from the recipient entity in Korea. Our thorough legal examination identified critical issues in the investment structure and contract. Despite these concerns, the investor, relying on personal trust, expressed an intention to proceed. In response, we effectively navigated legal and remittance-related challenges associated with foreign investment, ensuring the safeguarding of the investor's interests and facilitating a secure investment process. Additionally, through vigilant post-investment monitoring and strategic measures, we ensured the successful recovery of the entire investment, closing the transaction safely.