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News & Analysis

BSP amends rules on mandatory development financing

04 August 2023 by SyCip Salazar Hernandez & Gatmaitan - Philippines

On June 9, 2023, the Monetary Board of the Bangko Sentral ng Pilipinas ("BSP") issued Circular No. 1174, amending the implementing regulations of the mandatory agricultural, fisheries and rural development financing contemplated by the Agriculture, Fisheries and Rural Development Financing Enhancement Act (Republic Act No. 11901 or the "Agri-Agra Reform Credit Act").

News & Analysis

The Future of the Food Industry: Food Tech

27 July 2023 by Lee & Ko

With significant development in dietary supplements and alternative food industry in recent years, Korean government announced alternative food (e.g., plant-based meet, cultured meat, insect based meat, etc.), dietary supplement and medical food (i.e., specially formulated food for patients with certain symptoms or nutritional needs) as industry sectors for future development.

News & Analysis

Strengthening Regulation of Unfair Trading through Amendment of FISCMA

24 July 2023 by Lee & Ko - South Korea

A proposal for partial amendment (Amendment) to the Financial Investment Services and Capital Markets Act (FISCMA) for the purpose of strengthening the regulation of unfair trading passed the plenary session of the National Assembly of Korea on June 30, 2023 and was promulgated on July 18, 2023.

News & Analysis

IndusLaw bolsters it's infrastructure & energy practice

17 July 2023 by IndusLaw

INDUSLAW is pleased to announce the addition of Shashwat Kumar, who has joined our Delhi & NCR office in the Infrastructure & Energy practice.

News & Analysis

Latest Developments on the Hydrogen Act: Introduction of the Hydrogen Power Generation Bidding Market

13 July 2023 by Jipyong - South Korea

Hydrogen power, among other new and renewable energy sources, is garnering attention as one of the carbon-free power generation sources in Korea.

News & Analysis

Enactment of the Special Act on the Promotion of Dispersed Energy & Amendment to Electric Utility Act

05 July 2023 by Lee & Ko - South Korea

The Special Act on the Promotion of Dispersed Energy (the Dispersed Energy Act) was recently enacted as of June 13, 2023 and, on the same date, the amendment to the Electric Utility Act (also known as the Electricity Business Act) (the Amendment) was also promulgated, both of which will come into force as of June 14, 2024.

News & Analysis

Can Liquidated Damages and Penalty Clauses Survive under Korean Law?

03 July 2023 by Jipyong - South Korea

Foreign contractors and subcontractors doing business with Korean companies are often puzzled by how Korean courts deal with liquidated damages and penalty clauses in contracts.

News & Analysis

Analysis of the First Applications of the Serious Accidents Punishment Act

21 June 2023 by Jipyong - South Korea

The Serious Accidents Punishment Act (“SAPA”) is a relatively new legislation that came into force on January 27, 2022.

News & Analysis

SEC Adopts the ASEAN Sustainable and Responsible Fund Standards and Establishes Rules on Recognition of Foreign Collective Investment Schemes

20 June 2023 by SyCip Salazar Hernandez & Gatmaitan

On April 13, 2023, the Securities and Exchange Commission ("SEC") issued Memorandum Circular No. 4, Series of 2023 ("MC 4-23") to adopt the ASEAN Sustainable and Responsible Fund Standards ("ASEAN SRFS") and establish rules on the qualifications of local investment companies

News & Analysis

Latest Update to “Guidelines for Workplace Risk Assessment“ to Impact Businesses in Korea

31 May 2023 by Lee & Ko - South Korea

On 22 May 2023, the Ministry of Employment and Labor (MOEL) announced a significant update to its “Guidelines for Workplace Risk Assessment“ (Guidelines), effective immediately.

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