Case Studies
Che Seong-ho Representative Attorney Column on Esports Content Copyright Issues
Veat Law Firm’s Representative Attorney, Seongho Choi, contributed to Electronic News, an IT-specialized news portal, regarding esports content copyrights. Representative Attorney Seongho Choi discussed the perspectives of game developers and users, as well as economic viewpoints, regarding esports content copyrights, and emphasized the need for a balanced distribution system between game developers, professional gamers, and other stakeholders producing esports content. For more detailed information, please refer to this article. Thank you. Veat Law Firm.
[Personal Information] Revised Data 3 Act A to Z ① What is anonymous information?
On January 9, the so-called “Data 3 Laws,” including the “Personal Information Protection Act,” “Act on Promotion of Information and Communication Networks and Protection of Information,” and “Act on the Use and Protection of Credit Information” were passed by the National Assembly. After being stalled in the National Assembly for over a year, these key bills were finally passed, leading relevant agencies such as the Ministry of Interior and Safety, the Broadcasting and Communications Committee, the Financial Services Commission, and the Financial Supervisory Service, along with the Personal Information Protection Committee, to conduct a public hearing from March 31st for 40 days through a public hearing. Key Amendment Contents of the “Data 3 Laws”: “Pseudonymized Information” One of the key aspects of the Data 3 Law amendment to carefully examine is the addition of the concept of “pseudonymized information,” which redefined the scope of personal information. Previously, the Data 3 Laws based the judgment of personal information on “identifiability,” resulting in criticism that the scope of “personal information” was excessively wide. The Ministry of Interior and Safety, through the revised version of “Personal Information Protection Act Regulations and Guidelines Interpretation” (2016.12), introduced the concepts of “obtainability” and “linkability,” revealing its position that information obtained by illegal methods such as hacking will not be included. However, due to the fact that the interpretation document’s position was unclear in terms of legal basis and was inconsistent with existing precedents, it has continued to be subject to academic debates. In this regard, the revised law, recognizing the global shift towards a data economy, adopted actively data utilization to establish opportunities for consumer-centric financial innovation (refer to the reasons for amendment), significantly revamped personal information governance, and added “pseudonymized information” to the classification of personal information, resulting in a major overhaul. Accordingly, personal information is categorized into three: 1) Personal Information: data with personal information that can be identified as a specific individual (easily combinable if another information can be found, consideration of time, cost, and technology required to find a person); 2) Pseudonymized Information: information that cannot be identified as a specific individual even if additional information is not used or combined to restore the original state; 3) Anonymized Information: non-anonymized data that cannot be identified as a specific individual even if additional information is added. As such, the Data 3 Law amendment is based on reducing the scope of “personal information” in the existing law to allow companies to utilize it if it cannot be identified as a specific individual without adding additional information. While some are concerned about personal information abuse and security issues, companies are welcoming the move as the first step towards a big data society by utilizing diverse data to create new value. In the next part, we will examine the main amendments to the Data 3 Law (Personal Information Protection Act, Act on Promotion of Information and Communication Networks and Protection of Information, Act on the Use and Protection of Credit Information). Companies requiring consulting services regarding the Data 3 Law (Personal Information Protection Act, Act on Promotion of Information and Communication Networks and Protection of Information, Act on the Use and Protection of Credit Information) should contact Law Firm Veat. Thank you. Law Firm Veat Team.
[Consultation] Legal Review of the Possibility of Issuing Domestic Stablecoins "Veat"
Law firm Veat took a referral from A, a company developing and supplying IT application software, and conducted a legal review regarding the possibility of domestic legal entities issuing Veat stable coins. A stable coin is also known as a value-stabilizing currency, and unlike existing cryptocurrencies which have significant price volatility, it is a currency that maintains a stable price. Like stable coins, their value fluctuates due to various issues, but compared to existing cryptocurrencies, they are characterized by being fixed at a certain level. Veat provided a review opinion including legal restrictions that would be expected if domestic legal entities issued and circulated Veat stable coins through a comprehensive review of relevant laws such as the “Act on Capital Markets and Investment Securities” (Capital Markets Act) and the “Electronic Financial Transactions Act.” Many companies are now paying attention to stable coins as one solution because existing cryptocurrencies are not widely recognized as exchange media for goods or services due to price volatility. Recently, the government also passed a partial amendment to the “Act on Reporting and Use of Financial Transaction Information” (Revised Act on Specific Financial Transaction Information) and is moving toward legalizing cryptocurrencies, and interest in the future of cryptocurrencies and blockchain is growing further. Law firm Veat is an IT-specialized law firm composed of IT lawyers selected by the Korean Bar Association, lawyers from engineering backgrounds, including Partner Attorney Choi Seong-ho
[IssueMaker] Veat Partner Attorney Songdo-yeong, Plays a Major Role in Establishing ICT Regulatory Sandbox
법무법인 비트 송도영 파트너 변호사의 ICT 규제 샌드박스 관련 인터뷰가 이슈메이커 4월호에 게재되었습니다. 송도영 파트너 변호사는 이번 인터뷰를 통하여 현재 담당하고 있는 ICT 규제 샌드박스 컨설팅 및 정부 용역사업 등을 소개하며, 2019년도 한 해 규제 샌드박스의 성과 및 향후 전망에 대한 의견을 밝혔습니다. “ICT 공부하는 변호사” IT 전문 로펌을 표방하는 법무법인 비트는 그 특성상, 컴퓨터공학, 전기전자 등 공학을 전공한 변호사님들이 많아 ICT 기업들과 소통이 원활하다. “저는 늘 후배변호사들에게 법적 언어뿐만 아니라 ICT 언어도 구사할 수 있는 능력을 갖춘 Bilingual Lawyer가 되어야 한다고 강조합니다. 이 능력이야 말로 저희 로펌의 강점이며 고객들과 소통할 수 있는 비결입니다” 송도영 변호사는 현재 정보통신산업지흥원(NIPA)의 ICT 규제 샌드박스 상담센터 법률컨설팅, 국토교통과학기술진흥원(KAIA)의 스마트시티 실증서비스 법제컨설팅 지원 용역 등에 참여하고 있다. 다양한 정부 용역사업을 통해 법적 도움의 손길을 필요로 하는 벤처기업이나 스타트업들에게 희망을 주고 있다 “신청기업의 사내변호사처럼” 벤처기업들의 한정된 내부 인력만으로 규제 샌드박스 신청서를 작성하는 것은 여간 어려운 일이 아니다. 송도영 변호사는 신청기업의 모든 것을 파악하기 위해 밤을 새어가며 공부를 하고, 마치 사내변호사처럼 최선을 다하려고 노력한다. "그동안 규제 때문에 사업을 펼칠 수 없었으나, 규제 샌드박스 제도를 통해 임시허가나 실증특례로 선정되면 제 일처럼 그렇게 감동적일 수 없습니다.” 그가 컨설팅한 대표적인 기업들이 공유주방의 위쿡(㈜심플컴퍼니프로젝트), 공유숙박의 위홈(㈜위홈), 그리고 모바일 헬스케어의 휴이노(㈜휴이노), 모빌리티 분야의 반반택시(㈜코나투스) 등이다. “미래를 만드는 일에 참여할 수 있어 행복해” 규제 샌드박스는 우리나라에서도 거의 첫걸음을 내딛는 제도 이기에 판례나 유권해석이 전무하다. 그러다 보니 이에 대한 틀을 만드는 과정에 상당히 많은 공을 들였다. 송도영 변호사는 ICT 규제 샌드박스에 참여하는 것을 ‘미래를 만드는 일’ 이라고 정의했다. “주무부처와의 조율은 과기부, 정보통신산업진흥원(NIPA), 인터넷기업협회 담당자 분들이 진행합니다. 기득권자들을 설득하고 조율하는 게 힘든 일인데 정말 열심히 해주셔서 많은 성과를 낼 수 있었어요. 규제 샌드박스 관계자들에게도 진심으로 감사드리고 싶어요” “벤처, 스타트업의 최고 성공파트너 되고파” 아직 인큐베이팅이 필요한 벤처기업들이 주 고객들이다보니, 송도영 변호사의 자세는 상당히 남다르다. “벤처, 스타트업 전문 로펌으로서 기업과 같이 성장하자는 것이 저희 철학입니다. 벤처기업처럼 새로운 영역을 만들어 간다는 개척자 정신으로 임하겠습니다” 법무법인 비트는 벤처, 스타트업 발전을 위한 투자유치에도 많은 성공사례를 가지고 있어, 벤처, 스타트업의 규제 샌드박스 통과는 물론 벤처캐피탈까지 연결해주는 원스톱 법률서비스를 제공하고 있다. 인터뷰 전문은 링크를 통하여 확인하여 주시기 바라며, 신기술∙신산업과 관련하여 규제 샌드박스 제도 신청에 도움이 필요하신 분들은 법무법인 비트로 문의하여 주시기 바랍니다. 감사합니다. 법무법인 비트 드림
[Advisory] Providing comprehensive legal advice regarding the PEF establishment of investment firm Veatinvestment.
Law firm Veat provided legal advice to Base Investments, the early-stage startup investment firm, throughout the entire process of establishing a private equity fund (PEF) with management participation. PEF PEF is an abbreviation for private equity fund, and refers to a private fund targeted at no more than 49 investors. GP GP is an abbreviation for General Partner, meaning the unlimited liability partner who manages the fund. LP LP is an abbreviation for Limited Partner, meaning the limited liability partner including individual and institutional investors. Veat proceeded with various tasks related to PEF establishment, such as reporting and filing. ▲ Drafting of PEF articles of incorporation reflecting the interests and opinions of the GP (managing partner) and the investor LP ▲ PEF establishment (establishment of a limited partnership) ▲ PEF establishment report to the Financial Supervisory Service In the case of PEF establishment,"Capital Market and Financial Investment Business Act "(Capital Market Act) and the same Enforcement Ordinance, not only legal review of but also communication with LP, the Financial Supervisory Service and the Fair Trade Commission is a very important factor. Veat, based on its extensive practical experience in startup investments, provided tailor-made legal advice to Base Investments, an early-stage startup specialized investment firm. For those who need legal advice regarding the establishment of a private equity fund(PEF), please feel free to contact us.
[202003] #NEWS 11 Data3 Law’s A to Z for Companies
Law firm Veat provides comprehensive legal services, including litigation, arbitration, and consultation, to domestic and international clients. We have extensive experience in various fields such as intellectual property, corporate law, real estate, and labor law. Our team consists of highly skilled and experienced attorneys who are committed to providing our clients with the best possible legal representation. Law firm Veat strives to build long-term relationships with our clients based on trust, integrity, and professionalism. We are dedicated to providing innovative and effective legal solutions to meet our clients’ unique needs. Our commitment to excellence and client satisfaction is unwavering. We provide professional legal services in areas such as contract law, inheritance law, and criminal law. Law firm Veat is your trusted partner in navigating the complexities of the legal landscape. We are committed to providing exceptional legal expertise and support. We are confident that we can provide you with the legal solutions you need to achieve your goals. Law firm Veat offers diverse legal services tailored to each client's specific requirements. We are dedicated to delivering outstanding results and building lasting partnerships. With a focus on client success, Law firm Veat is committed to providing top-tier legal representation. We provide efficient and reliable legal services, ensuring the best outcomes for our clients. Law firm Veat is a leading legal firm with a strong reputation for excellence.
[Ulsan Jeil Ilbo] Law firm Veat participates in the launch ceremony of the Enterprise Growth Support Division of the Korea Industrial Complex Corporation, Ulsan Branch.
지난 25일, 한국산업단지공단(이하 '산단공') 울산지역본부 회의실 내에서 '2020년도 울산 기업성장지원단 발대식'이 진행되었습니다. 이번 발대식은 중점 육성기업 3개사와 전문 컨설팅 기업 및 Law firm Veat 관계자가 참석한 가운데 비대면 화상회의 시스템을 활용하여 진행되었습니다. 타 지역에 비해 상대적으로 저조한 연구개발 혁신역량을 높이기 위해 2019년 출범한 '울산 기업성장지원단'은 중소기업의 정부과제 기획과 현장의 규제 개선 및 해외 수출을 적극적으로 돕기 위해 이번 2020년도에는 규제 샌드박스 분야의 전문가로 인정받은 Law firm Veat와 함께 손을 잡았습니다. 2020년도 울산 기업성장지원단 총괄 책임자인 송도영 파트너 변호사를 필두로 신기술 기업들의 실증특례 및 임시허가를 도울 예정이며, 본 발대식은 조은별 파트너 변호사가 참가하였습니다. Law firm Veat는 '한국형 규제샌드박스' 신청서 작성에 어려움을 겪는 기업들에 사업모델 설명부터 관련 규제 분석까지 신청서 작성 전반에 걸친 컨설팅을 제공하고 있습니다. 신속처리, 임시허가, 실증특례 중 적정한 방법의 선택 등 법률 전문가의 의견이 필요하신 분들은 Law firm Veat로 문의하여 주시기 바랍니다. 감사합니다. Law firm Veat 드림
[Legal Consultation] Legal Review of Advertising Contract for Company A Operating an Application-based Platform Service
Law firm Veat received a request from Company A, which operates an application-based platform service, to review and provide a advertising contract. In a situation where Company A was about to enter into a contract with advertiser B, who requested advertisements to be posted on Company A's platform, advertiser B wanted to directly contract with Company A using its own advertising contract. Accordingly, Company A requested a legal review of this advertising contract for a reasonable contract conclusion. Veat conducted a legal review of the advertising contract, referring to Company A's existing advertising contract and advertising sales agency contract, and ▲deleted contents that were inappropriate or irrelevant to the advertising execution, ▲added contents necessary for advertising execution, such as the role of the public relations agency, and ▲modified the confidentiality and personal information protection obligations, measures upon business suspension, business partner code of conduct, etc., which were unfairly and disadvantageously imposed on one party, to the obligations of both parties to conform to the principle of fairness and validity. Law firm Veat provides rapid and efficient consultation based on its experience in providing drafting and legal review of various contracts, including advertising contracts and advertising agency contracts. Those who need a legal review related to advertising contracts should contact Law firm Veat. Thank you. From Law firm Veat
[Consulting] Proceeding with the terms of service review for A Company, which operates a healthcare information related application development business.
Law firm Veat provided legal advice to Company A regarding the review of its terms of service for services related to medical information. Company A wanted to comprehensively review its service terms of service, including paid services such as point charging, before launching a new service. Accordingly, Law firm Veat examined whether ▲ Company A's terms of service comply with the 「Regulation of Standard Contract Terms」 (Standard Contract Terms Regulation), ▲ whether regulations related to paid services, such as refund policies, comply with the 「Act on Consumer Protection in Electronic Commerce, etc.」 (Electronic Commerce Act), ▲ whether payment methods such as points, cash, and coupons violate current laws such as the 「Electronic Financial Transactions Act」 and the 「Income Tax Act」. Law firm Veat provided legal advice to Company A throughout its business to ensure compliance with the law and efficient service provision through the review of the terms of service. This consultation can be a good example for businesses that want to establish a points-related system and subsequently draft terms of service when using various forms of payment methods such as points, cash, and coupons. If you need help drafting or revising terms of service related to the provision of paid services or points and coupon services, please contact Law firm Veat. Thank you. From Law firm Veat
[Personal Information] Guidelines for Protecting Automatically Processed Personal Information
The Ministry of Public Safety and Administration has distributed the “Guideline for Protecting Personal Information in Automated Processing” through its comprehensive personal information protection portal site. This guideline applies the Privacy by Design concept to ensure that the possibility of personal information infringement is sufficiently considered from the planning stage when personal information is automatically processed through Internet of Things devices (IoT), etc., and provides considerations for each step of personal information processing based on examples. Law firm Veat, appointed as a legal advisor to the Personal Information Protection Committee in March 2020, has established a personal information protection team led by partner attorneys Baek Seung-cheol and Jo Eun-byeol , and is performing advisory services related to personal information protection and personal information protection system establishment consulting, etc., to ensure compliance with personal information-related laws, including this guideline. This law firm has extensive experience providing comprehensive advisory services for compliance with the European Personal Information Protection Regulation (GDPR), which came into effect on May 25, 2018, and can provide appropriate advice to businesses providing services in Europe and abroad regarding legal issues related to personal information and information protection, including personal information processing consent forms and personal information processing policies, responses to on-site inspections by the relevant government agency, and crisis response for personal information infringement and leakage. Please refer to the official website for more detailed examples of the law firm’s personal information-related work, and if you have any questions regarding Internet of Things devices (IoT), such as home CCTV and smart TVs, please contact Law firm Veat. Thank you. Law firm Veat