Case Studies
[News] Law firm Veat, exceeded 100 cases of regulatory innovation/regulatory sandbox legal consultation!
Law firm Veat has performed over 100 regulatory innovation/regulatory sandbox legal consultations through ▲2018 ICT convergence regulatory improvement consulting, ▲ICT regulatory sandbox consultation center, ▲Gyeonggi Province regulatory sandbox support project, ▲proposal of agendas to the Innovation Growth Headquarters of the Ministry of Strategy and Finance, etc. Law firm Veat, centered on Song Do-yeong, Head of Regulatory Sandbox Division, Choi Seong-ho, Managing Partner, Baek Seung-cheol, Partner, and Jo Eun-byeol, Partner, has ▲extensive consulting experience for venture/startups and ▲numerous regulatory sandbox consulting experiences, and based on this, is providing know-how and strategies that practically benefit companies applying for or considering a 'regulatory sandbox'. If you need legal advice regarding regulatory improvement and regulatory sandbox application, please contact Law firm Veat. Thank you. Law firm Veat
[Consulting] Law firm Veat provides legal consulting for Gyeonggi Province Regulatory Sandbox Support Project
Law firm Veat’s Songdo-young, Choi Sung-ho, Baek Seung-cheol, and Jo Eun-byeol attorneys have recently agreed to conduct legal consulting on application form preparation for companies applying for regulatory sandbox through the Gyeonggi Province and companies within the province. Gyeonggi Province announced its support plan for companies applying for the regulatory sandbox on April 4, 2019, at the Provincial Office. Gyeonggi Province plans to support not only application form preparation for the regulatory sandbox but also costs related to the verification for participating companies. Specifically, Gyeonggi Province plans to support up to 1/2, or a maximum of 100 million won, for the cost of prototype production, testing/verification data analysis, and test evaluation standard preparation, which are necessary for verification, for companies that have applied for a regulatory sandbox for the activation of personal mobility devices upon receiving a verification approval. It also plans to support up to 1/2, or a maximum of 10 million won, for the insurance premiums that companies must join for user protection and a maximum of 5 million won as consulting fees for shortening the verification period and early market launch. It also announced that it would reduce the burden on companies applying for the regulatory sandbox. Furthermore, Gyeonggi Province announced that it would provide 5 billion won (previously 4 billion won) in support (loan) to innovative startups that are confirmed as regulatory sandbox applicants under the government's regulations from May 2, 2019. Prior to this, a survey conducted by Gyeonggi Research Institute on 159 startups in Pangyo Techno Valley showed that 42.1% of companies experienced difficulties due to the regulatory environment. Of these difficulties, 'loss of sales' (30.3%) was the most significant, followed by 'delayed/suspended market launch' (27.3%) and 'abandoned/postponed business' (24.2%). Veat, at the request of Gyeonggi Province, provided legal advice on A Company’s regulatory sandbox application. In particular, Veat’s attorneys not only examined the legal issues presented by A Company but also carefully reviewed the regulatory sandbox application form based on the format prepared under the "Industrial Synergy Promotion Act" or the "Act on Promotion of Information and Communications Technology and Convergence," to identify any omissions or ambiguities or whether any content differed from the requirements and whether the verification plan was appropriate. They then revised and supplemented the application, receiving high praise from the applicant company. Veat successfully completed the "ICT·Convergence Regulatory Improvement Consulting Service" commissioned by the Korea Information and Communication Technology Promotion Agency (NIPA) in 2018, and from January 2019, it has been providing legal advice for the "ICT Regulatory Sandbox Consulting Center" of the Ministry of Science and ICT and the Korea Information and Communication Technology Promotion Agency. It has also agreed to provide regulatory sandbox consulting advice to Gyeonggi Province, the first local government to do so. If you need legal advice or consulting regarding legislative consulting, ICT/industrial convergence/financial regulatory sandbox, please contact Veat through the following channels. Thank you. Law firm Veat "
[News] Law firm Veat's 'ICT Regulatory Sandbox Consultation Center' legal consulting.. A great contribution to the successful settlement of the ICT Regulatory Sandbox
Law firm Veat successfully completed the ‘2018 ICT Regulatory Improvement Consulting’ commissioned by NIPA (Korea Information and Communication Technology Promotion Agency) last year, and since January 2019, it has been performing legal advisory and consulting services for the ‘ICT Regulatory Sandbox Consultation Center’ as stipulated in the “Act on the Promotion of Information and Communication Network and Convergence,” and is playing a major role in the successful establishment of the ICT Regulatory Sandbox. Companies wishing to obtain Regulatory Sandbox designation must analyze a great many legal issues, such as ▲selection of an appropriate method of rapid processing, temporary permits, or experimental permits, ▲concise and clear explanation of the business model, ▲accurate analysis of related regulations, ▲necessity for Regulatory Sandbox designation, ▲establishment of pilot plans or business plans, and ▲personal information protection, user protection, or safety verification, and collect relevant data. This can be a considerable burden for companies with limited personnel and budgets. Therefore, Law firm Veat is providing legal consulting services for the ‘ICT Regulatory Sandbox Consultation Center’ in collaboration with the Ministry of Science and ICT and NIPA (Korea Information and Communication Technology Promotion Agency), and is receiving high praise from applicant companies through face-to-face meetings, telephone interviews, and consulting services covering everything from business model explanations to related regulatory analysis in the application writing process. In fact, Law firm Veat has supplemented the business model explanations and clarified the legal issues through repeated meetings with applicant companies based on applications containing only basic information, thereby improving the application to the level required by law, and helping the company obtain experimental permit designation. Furthermore, Law firm Veat is providing legal review advisory opinions on legal issues related to the Regulatory Sandbox system itself, as well as attending relevant briefings and seminars, to resolve confusion or interpretive difficulties that may arise during the initial implementation of the system, and is playing a major role in expanding the base and early establishment of the Regulatory Sandbox. Law firm Veat is a law firm with strengths in the ICT sector, composed of lawyers with engineering backgrounds and extensive experience in ICT advisory and litigation, and has secured a diverse and abundant range of case studies related to the Regulatory Sandbox. Based on this expertise and abundant experience, it provides legal advisory and comprehensive consulting services not only for the “Act on the Promotion of Information and Communication Network and Convergence” (ICT Regulatory Sandbox) but also for the “Act on the Promotion of Industrial Convergence” (Industrial Convergence Regulatory Sandbox), the “Act on Financial Innovation Support” (Financial Regulatory Sandbox), and the “Act on Regulatory Special Exemptions for Regionally Specialized Development Zones” (Regulatory Sandbox-type Regional Special Zone). In fact, a company advised by Law firm Veat was designated as a ‘priority review target service’ under the “Act on Financial Innovation Support” by the Financial Committee on April 1, 2019. Companies that require further explanation and consultation regarding the Regulatory Sandbox are requested to inquire with Law firm Veat through the following channels. Thank you. Sincerely, Law firm Veat
[Criminal] A case of successfully obtaining a summary fine in a criminal complaint for trademark infringement.
Operating an online trading platform, company A discovered company E, which was conducting business with a logo that was a modified version of A's logo, creating a strikingly similar logo that would make it seem to the general public that it was operated by A. Consequently, A inquired with Law firm Veat (hereinafter Veat) regarding the possibility of legal action against the unauthorized use of trademarks. Veat’s attorneys thoroughly reviewed company E’s business activities to determine what civil and criminal measures were possible based on trademark law and relevant legal precedents, and provided an opinion letter to A. A repeatedly requested company E to voluntarily cease using A’s logo before taking legal action, but E did not comply, and eventually A filed a criminal complaint against E for trademark law violations. Veat 1) created a comparison of the trademark registered by A and the modified trademark used by E, visually presenting the similarities to make it easy for investigative agencies to recognize, and 2) added evidence that company E intentionally refused A’s requests despite repeated requests for logo corrections, and submitted the complaint. And Veat’s attorneys attended A’s complaint statement along with A’s employees to clearly assert A’s position from the perspective of legal professionals. As a result, Veat obtained a summary order result in the case where E was criminally charged with violating trademark law for unauthorized use of A’s trademark. According to the current Trademark Act Article 230, a person who infringes a trademark right is subject to imprisonment for up to seven years or a fine of up to 100 million won, but it is difficult to recognize the similarity of logos and prove the infringement of trademark rights, and most cases result in suspended sentence verdicts. However, this case is meaningful in that Law firm Veat obtained a summary order result instead of a suspended sentence, recognizing the similarity of the trademark and protecting the interests of A. If you need Law firm Veat’s help with trademark law, please inquire through the following path. Thank you.
[Consultation] Legal consultation on the application for designation of innovative financial services
Law firm Veat provided legal advice regarding the drafting of an application for designation as an innovative financial service at the request of Company A, which provides financial services. Following the implementation of the Special Act on Financial Innovation Support on April 1, 2019, the Financial Services Commission introduced a regulatory sandbox to allow companies operating fintech businesses to be temporarily exempted from regulations when providing new services. Accordingly, Company A requested legal advice from Veat to assist in drafting the application for designation as an innovative financial service. Veat thoroughly reviewed matters regarding consumer protection and risk management, and provided legal advice. Since the regulatory sandbox provides a temporary exemption from regulations, measures to prevent financial consumer damage and risks that may occur during the designation period must be written in the application for designation as an innovative financial service. In particular, Veat suggested measures to protect the personal information and credit information of users utilizing Company A’s new services, based on the Personal Information Protection Act, the Credit Information Protection Act, and other related laws. Law firm Veat provides legal advice regarding legal review and drafting of application related to regulatory sandbox application. If you need legal review related to the financial regulatory sandbox and application for designation as an innovative financial service, please contact us through the following path.
[201906] vol 3. Esports and Law
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[Regulatory Sandbox] Hearing from Lawyers on Writing a Regulatory Sandbox Application
전회(변호사에게 듣는 한국형 규제 샌드박스란)에서 말씀드린 것처럼 혁신 성장을 뒷받침할 한국형 규제 샌드박스의 입법체계가 확립되었고, 그에 따라 여러 기업들이 규제 샌드박스를 신청하고 있습니다. 아래에서는 규제 샌드박스를 신청할 때 반드시 알아야 할 쟁점 등에 대해서 알아보겠습니다. Q1 어떤 부처에 신청을 해야 하나요? A1. 현재 규제샌드박스의 주관부서는 총 4군데로 나눠져 있습니다. 어느 부처에 신청할 것인지는 신청기업이 자율적으로 결정할 사항입니다. 정부 역시 가능한 접수 절차와 관련하여 신청기업에게 부담을 주지 않겠다는 입장을 여러 차례 밝힌바 있습니다. 다만, 「정보통신융합법」은 ‘신규 정보통신융합등 기술ㆍ서비스’를, 「산업융합 촉진법」은 ‘산업융합 신제품ㆍ서비스’를, 「금융혁신지원 특별법」은 ‘혁신금융서비스’를 각 대상으로 하는 점, 현행법상 부처간 이관 절차에 관한 명시적인 규정이 없는 점, 신청요건을 갖추지 못한 경우 신청을 반려할 수 있는 점(정보통신융합법 시행령 제40조 제3항 등), 각 신청서에 해당 내용을 구체적으로 기재하도록 하고 있는 점 등에 비추어 볼 때, ICT 기술을 활용하는지 아니면 기존의 산업간 융합에 초점을 두고 있는지, 금융 관련 서비스인지 여부에 따라 가장 직접적인 규제샌드박스를 활용하시는 것이 좋습니다. 이와 관련하여 법률 전문가의 상담을 받거나, NIPA(ICT 규제샌드박스 상담센터), KIAT(산업융합 규제샌드박스), 금융위원회 등에 문의하여 신청하려는 내용에 비추어 어떤 절차가 적절할지 살펴보는 것도 한 방법입니다. Q2. 사업모델이 달라지면 다시 신청을 해야 하나요? A2. 가장 많이 받는 질문 중 하나입니다. 사업계획서나 실증계획서에 기술·서비스의 세부내용을 기재하여야 하고, 주무부처는 신청서에 기재된 사업모델을 바탕으로 부처간 협의를 한 후 심의회를 개최하며, 임시허가증이나 실증특례지정서에 해당 기술·서비스의 주요 내용을 기재하도록 하고 있기 때문에(정보통신융합법 시행령 제40조 제6항, 제42조의4 제5항 등), 현행법 하에서는 사업모델이 바뀌게 되면 다시 임시허가나 실증특례를 신청해야만 할 것으로 판단됩니다. 사소한 변화에 그치는 경우에 대해서는 견해의 대립이 있고, 실무상 확립된 선례는 아직 없습니다. 현행법에는 사업내용이 변경되었을 때에 관한 명확한 절차가 없어서 이에 관해서는 입법적 보완이 필요해 보이며, 그 전까지는 ‘중대하지 않은 변화’에 대해서는 정부가 Fast Track 제도를 마련하는 방안을 강구할 필요가 있겠습니다. Q3. 혁신성이란 어떤 의미인가요? A3. 「정보통신융합법」은 ‘신규 정보통신등 기술·서비스’를 대상으로 합니다. 동법은 ‘신규 정보통신등 기술·서비스’에 대한 직접적인 정의 규정은 두고 있지는 않으나, ‘정보통신융합’에 관하여 “정보통신 간 또는 정보통신과 다른 산업 간에 기술 또는 서비스의 결합 또는 복합을 통하여 새로운 사회적ㆍ시장적 가치를 창출하는 창의적이고 혁신적인 활동 및 현상”이라고 규정하고 있습니다. ICT 규제샌드박스의 경우 기술·서비스의 ‘혁신성’을 중요한 심사기준으로 하기 때문에 신청기업은 해당 기술·서비스가 어떤 점에서 혁신성을 가지는지를 신청서에 충실히 기재할 필요가 있습니다. 상담을 하다보면 「특허법」상 ‘신규성’ 요건과 혼동을 하는 경우를 볼 수 있습니다. ‘혁신성’은 ‘신규성’과는 다른 개념입니다. 따라서 「정보통신융합법」상 ‘혁신성’은 반드시 해당 서비스가 사회일반에 아직 알려지지 않을 필요는 없고, 정보통신간 또는 정보통신과 다른 산업간의 결합 등을 통해 이용자의 편익이 증대한다거나 부가가치가 창출되는 경우라면 인정될 수 있습니다. 따라서 해외에서 서비스 중인 경우 또는 국내에 존재하는 서비스를 결합하여 새로운 형태를 가지는 경우도 가능합니다. 특허출원이 불가능한 경우라도 임시허가나 실증특례 지정은 가능합니다. Q5. 이용자 보호방안은 어떻게 작성해야 하나요? A5. ICT 규제 샌드박스의 경우, ①임시허가 신청시에는 ‘기술·서비스의 안전성 검증 자료 및 이용자 보호방안’을, ②실증특례 신청시에는 ‘기술·서비스의 이용자 보호방안’을 작성하여 제출하여야 합니다. 해당 기술·서비스를 시중에 출시하거나 실증을 하는 과정에서 발생할 수 있는 금전적, 물질적, 생명·신체, 개인정보 등에 대한 보호계획을 구체적으로 시나리오 별로 기재하고 대처방안을 기재하여야 합니다. 다만 모든 경우의 수를 예측하여 기재하는 것을 요구하는 것은 아니고 합리적인 예상할 수 있는 범위로 제한된다고 보아야 할 것입니다. 그 동안의 자문 경험에 비추어 보면, 신청서 중 ‘보호방안’ 부분에 대한 준비가 부족한 경우가 대부분이었고, 담당 변호사들이 신청기업과 여러 차례 회의를 하면서 보완을 하는 경우가 많았습니다. 자세한 사항은 법무법인 비트(담당: 송도영 변호사, 02-576-8990)로 문의하여 주시기 바랍니다. 감사합니다
[Regulatory Sandbox] What is the Korean-style Regulatory Sandbox, according to a lawyer
지난 2019. 4. 25. the government held an event to inform the public of the achievements upon reaching 100 days of the regulatory sandbox implementation. The “regulatory sandbox” has become such a prominent issue in the first half of 2019 that it’s safe to say almost no citizen is unaware of it. Law firm Veat also, starting with the “ICT·Convergence Regulatory Improvement Consulting Service” in 2018, has been making its best efforts to establish the Korean-style regulatory sandbox system by undertaking legal consulting services for the “ICT Regulatory Sandbox Consultation Center” from the beginning of 2019. Source: Government Deliberation Committee, Ministry of Science and ICT Press Release As everyone knows, but for the sake of reiteration, the “regulatory sandbox” is a system that supports the demonstration (regulatory sandbox) or market launch (temporary permit) of new technologies and services when they are rapidly created, and even if they do not comply with existing laws and regulations, they do not harm the lives and safety of citizens (Ministry of Science and ICT, ‘19.1.10 press release). Currently, the regulatory sandbox consists of the “regulatory innovation 3-pack” based on the “regulatory innovation 5 laws.” “Regulatory Innovation 5 Laws” refers to the following laws. ▲ 「Act on Promotion of Information and Communications Technology and Convergence”, (Ministry of Science and ICT, ‘19.1.17.施行), ▲「Act on Promotion of Industrial Convergence”, (Ministry of Trade, Industry and Energy, ‘19.1.17.施行), ▲「Special Act on Support for Financial Innovation”, (Financial Services Commission, ‘19.4.1.施行), ▲「Act on Regulatory Exceptions for Regulatory Free Zones and Regional Special Development Zones”, (Ministry of SMEs and Startups, ‘19.4.17.施行) ▲「Act on Basic Policy for Administrative Regulation”, (Government Deliberation Committee, ‘19.7.17.施行) “Regulatory Innovation 3-Pack” consists of ▲expedited processing, ▲temporary permits, and ▲regulatory exceptions for demonstration, and sometimes also includes ▲batch processing system. Looking specifically at the 「Information and Communications Convergence Act」, (1) ’Expedited processing’ is a system that allows those who want to conduct business using new ICT convergence technologies and services to inquire about whether there are any permits or regulations related to the business and, if there is no response from the relevant ministries within 30 days, to be deemed as having no regulations and to be able to freely conduct business (Information and Communications Convergence Act Article 36, etc.). (2) ‘Temporary permit’ is a system that allows the early market launch under certain conditions when new ICT convergence technologies and services have sufficient safety to be released into the market but there are no corresponding standards, regulations, or requirements, or when applying existing standards, regulations, or requirements is unclear or unreasonable, and market launch is delayed (Information and Communications Convergence Act Article 37, etc.). (3) ‘Regulatory exceptions for demonstration’ (regulatory sandbox) is a system that allows for limited testing and technical verification of the technology and services when applying for a permit or when the application of existing standards, regulations, or requirements is unclear or unreasonable (Information and Communications Convergence Act Article 38-2). The above is a brief overview of the regulatory sandbox system upon reaching 100 days of implementation. Source: Ministry of Science and ICT Press Release From the next session, we will discuss practical issues related to the regulatory sandbox system and things to pay attention to when writing an application, based on various regulatory sandbox consultation and review cases. Please contact Law firm Veat (contact: Song Do-young, attorney, 02-576-8990) for more information.
[Personal Information] What are the countermeasures when a company leaks personal information?
The Supreme Court has confirmed the ruling (2018 December) that KT was not liable for damages in two lawsuits (2017da207994, 2017da256910) related to a personal information leak incident that occurred in 2012, attracting considerable attention. Examining the circumstances of the incident mentioned in this ruling, Mr. Choi and others developed a hacking program in April 2012 and illegally obtained and leaked over ten million customer personal information records from KT over a period of five months. (hereinafter referred to as “this case”) In connection with this case, a large number of personal information leak victims (plaintiffs) filed a lawsuit against KT (defendant) for damages, and the Supreme Court concluded the case with the plaintiff’s loss in this ruling. In this ruling, the Supreme Court comprehensively examined whether KT, as an information and communication service provider, had taken all reasonably expected protective measures as of 2012, when this case occurred. In particular, it judged whether KT faithfully implemented technical and administrative protective measures stipulated in personal information-related laws. This ruling pertains to a personal information leak incident that occurred in 2012, and the laws in effect prior to the amendments apply. Our personal information protection laws have undergone numerous amendments since 2012, and strong penalties such as statutory damages and recommendation of sanctions against representatives have been newly established; therefore, companies cannot neglect personal information management solely based on this precedent. On the contrary, due to the personal information protection law amendment in 2016, damages can be imposed at a maximum of KRW 3 million per personal information record, so it is even more necessary for companies to faithfully implement safety assurance measures and technical and administrative protective measures for personal information before personal information leak incidents occur. Law firm Veat has established a personal information team comprised of attorneys responsible for personal information protection consultation, consulting, and crisis response, and is striving to provide the optimal services related to personal information. The law firm’s personal information team, composed of attorneys with backgrounds in engineering and IT specialists, has been highly rated by clients for their high level of understanding of IT systems that implement personal information protection laws and relevant precedents and official interpretations. If you need consulting regarding personal information leak incident response and personal information system establishment, please contact Law firm Veat. Thank you.
[Blockchain] Kakao Ground X service opening is expected to bring blockchain technology one step closer to consumers, what about the policy?
News is attracting attention from several media outlets that Watcha's 'Content Protocol' will join the Ground X’s Klaytn platform as a partner. The significance of Ground X, Kakao's blockchain subsidiary, opening the Klaytn platform in 2019 can be seen in two major points. Other partner companies that have joined the Klaytn platform were also selected as media outlets that make blockchain technology accessible to the general public, such as games, video media, and travel. The incorporation of blockchain technology in these diverse fields will serve as a foundation for online/offline service users to utilize more advanced services. First, Watcha's 'Content Protocol', which has a large number of users, joining Klaytn suggests that blockchain technology will take another step towards popularization. Watcha is already a platform with approximately 4 million users, which is receiving attention. Klaytn users will be able to receive reward tokens through everyday participation, such as leaving movie ratings and recommending movies to others on the Watcha platform. Second, the opening of this Klaytn platform will be a good opportunity for entrepreneurs exploring blockchain-related businesses. At the same time, there is a difficulty because legal regulations related to blockchain have not yet been established, and we do not know what regulations the Korean government will impose on services based on blockchain technology in the future. In November, the Korean Bar Association’s Blockchain TF team held a press conference to announce a statement urging the preparation of blockchain-related laws and policies for the formation of a healthy market. It appears that startups who want to provide platforms and services based on blockchain technology should carefully review various legal regulations in advance. Since relevant regulations and policies have not yet been publicized, please review from various perspectives such as the Capital Market Act, Personal Information Protection Act, and Electronic Commerce Act. Law firm Veat is contributing in various ways to the preparation of blockchain-related policies and regulations through joining the Korean Bar Association’s Blockchain TF team and other activities. Drawing on extensive legal consulting experience in blockchain and virtual currency, we provide comprehensive legal advice related to the blockchain industry. Moving forward, Law firm Veat will provide comprehensive and professional advice to entrepreneurs and companies who want to develop technology and services based on blockchain, enabling them to conduct their businesses stably even in an unclear legal and regulatory environment. Thank you. Law firm Veat "