Case Studies
Investment algorithm sales pre-check essential: Quantitative investment and Capital Market Act.
Quantitative investing is a method of making investment decisions based on data and algorithms rather than subjective human judgment, and it is rapidly spreading in modern financial markets. In the US stock market, quantitative investing already accounts for about 70% of trading volume, and it is gradually becoming more popular domestically. However, it is essential to be aware that the process of selling or using algorithms may be subject to the requirements of the Capital Markets Act for investment advisory services. What is Quantitative Investing? Quantitative investing is an investment technique that makes quantitative judgments based on statistics and data analysis, excluding emotions and subjectivity when making investment decisions. Advantages of Quantitative Investing Quantitative investing has the advantage of reflecting real-time data, as it eliminates emotional judgment, which often leads to failures in human investing, and reflects the latest economic data and market conditions immediately to make investment decisions. In addition, because multiple investors using the same algorithm can make simultaneous buy or sell decisions, it saves time and resources and greatly increases investment efficiency. Algorithm-Based Quantitative Investing and the Capital Markets Act The expansion of quantitative investing has given rise to a new business model of algorithm sales. Investors who purchase a specific algorithm can link it to their accounts and automatically proceed with investment activities. According to the Capital Markets Act, investment advisory services mean the act of providing advice on the value or investment judgment of financial investment products as a business. If algorithm sales are interpreted as providing such investment judgments, it may be considered investment advisory services. Investment advisory services require registration with the Financial Supervisory Service, and failure to comply can result in criminal penalties, so caution is needed. Therefore, if all setting values that form the basis of investment judgment are included in the algorithm, it may be considered providing investment judgment, and if the algorithm user has no leeway to change variables and produces the same result under the same conditions, it is likely to be considered investment advisory services. However, if the purchaser can adjust or change the settings of the algorithm themselves, it may not be considered investment advisory services. Similar Investment Advisory Services for Quantitative Investing Investment advisory services mean providing customized investment judgments to specific individuals. This includes advice that takes into account the individual investor’s asset situation, investment purpose, and investment experience. For example, this includes recommending a portfolio configuration that matches the client’s financial situation and goals. On the other hand, similar investment advisory services refer to the provision of general investment judgments to an indefinite number of people. This is defined as providing investment judgments without reflecting the characteristics of each investor and providing the same content to multiple people in a lump sum. A typical example is publicly announcing buy or sell opinions on specific stocks through the internet, broadcast, or SNS. The Supreme Court clarified this difference through a case where algorithm sales were deemed to be similar investment advisory services (Supreme Court 2022.10.27. Ruling 2018do4413). In this case, the algorithm uniformly provided the same investment judgment based on variables set for an indefinite number of people, and it did not reflect the investment purpose or assets of individual investors. Therefore, it was deemed to be similar investment advisory services rather than investment advisory services as defined in the Capital Markets Act. This ruling shows that the legal nature can vary depending on the method of providing investment judgments. In particular, if the algorithm seller includes customized advice that takes into account the characteristics of individual clients in the process of providing investment judgments, it is likely to be considered investment advisory services and must comply with the registration obligations for investment advisory services under the Capital Markets Act. Failure to overlook these legal requirements can result in criminal penalties for engaging in unregistered investment advisory services, so it is important to thoroughly review and comply with relevant laws and regulations. Points to Consider When Selling Algorithms - Transparent Contract Structure The function and limitations of the algorithm should be clearly stated, and a structure should be designed that allows the purchaser to adjust settings. - Review of Investment Advisory Service Registration If the algorithm provides specific investment judgments, you should review whether to register for investment advisory services with the Financial Supervisory Service in advance. - Compliance with Relevant Laws It is essential to receive professional legal advice to ensure that algorithm sales or operation do not violate the Capital Markets Act. Quantitative investing presents a new paradigm for the investment market, but it can only ensure sustainability by strictly complying with the regulations of the Capital Markets Act. In particular, legal issues related to algorithm sales are not simply technical issues but important issues that are directly related to the sustainability of the business, so it is important to seek expert assistance from an early stage to be aware of the risks and develop a plan to minimize them. Law firm Veat boasts a unique position in the investment and Capital Markets Act related fields and provides customized legal services for startups and investment firms to operate businesses successfully even in complex regulatory environments. It has been ranked 5th in the Bloomberg M&A League Table (2024 Bloomberg M&A League Table) for the number of deals in the first quarter of 2024, and has established itself as a leading player in the domestic and international investment and M&A legal advisory fields. Please contact Law firm Veat for investment advisory services, similar investment advisory services, and to minimize legal risks related to investment business operations. You can also find examples of our work on the following Law firm Veat blog. - Must-Check Before Selling Investment Algorithms: Quantitative Investing and the Capital Markets Act Thank you. Law firm Veat
Law firm Veat, Legal Times 2024 'TMT Area League Table' selected as a leading boutique law firm.
Legal Times announced that Law firm Veat was selected as the leading boutique law firm in the ‘TMT Sector League Table’ for 2024. The TMT sector is an area where legal issues related to new technologies, including AI, big data, metaverse, and mobility, encompassing technology, media, and telecommunications, are rapidly emerging, and it is an area where the ability to respond to rapidly changing environments is crucial in the legal market. Law firm Veat has been recognized as a representative boutique law firm based on its outstanding expertise and achievements within this evolving landscape. Law firm Veat: Leading the TMT Market Law firm Veat operates a TMT team centered around Song Do-young, Managing Partner, and provides specialized advice on legal issues arising from the advancement of new technologies such as AI and metaverse. In particular, Law firm Veat's extensive experience and expertise in cutting-edge technology areas such as ICT and metaverse have led to a unique position within the TMT sector. Song Do-young, Managing Partner of Law firm Veat, has been appointed as an arbitrator for the Online Advertising Dispute Mediation Committee, demonstrating his expertise in the legal field related to online advertising. He also serves as a member of the Innovative Financial Review Committee, the Korea Bar Association’s IT Blockchain Committee, and the Metaverse Self-Regulatory Committee, actively contributing to ICT convergence, metaverse, AR/VR, smart city regulatory sandbox, and other diverse TMT new technology areas. In recognition of these contributions, Song Do-young, Managing Partner, received the Prime Minister’s Commendation for the ‘2020 Day of Science and Information and Communications,’ and Law firm Veat received the Ministry of Science and ICT’s Commendation at the ‘2023 대한민국 Digital Innovation Award,’ further acknowledging its contributions to the TMT sector. From AI to Metaverse: Law firm Veat – The Core of TMT Success Law firm Veat has consistently provided regulatory sandbox-related legal consulting in various new technology sectors such as ICT, smart cities, artificial intelligence, and metaverse. Through collaboration with key organizations such as the Information and Communication Technology Promotion Agency, the Korea Industrial Technology Agency, and Daejeon Technopark, it has accumulated substantial results, providing over 1,000 instances of legal advice. Moving forward, Law firm Veat will continue to play a leading role in the TMT and regulatory sandbox sectors in line with changing new technologies and regulatory environments. Law firm Veat will continue to adapt to changes in the legal market by providing innovative legal advice in the technology, media, and telecommunications fields, and will strive to provide optimal legal solutions to its clients. Thank you. Sincerely, Law firm Veat
2026년 1월 시행 예정, 인공지능(AI) 기본법 대비하기 Scheduled to take effect in January 2026, preparing for the Artificial Intelligence (AI) Basic Act
2026년 1월, 대한민국은 「인공지능 발전과 신뢰 기반 조성 등에 관한 기본법」(이하 "AI Basic Law")을 시행하며, 세계에서 두 번째로 AI 관련 법제를 마련한 국가로 발돋움할 예정입니다. Law firm Veat introduces the background and main contents of the AI Basic Law, which is scheduled to be implemented, and will examine what companies need to prepare. Background of the AI Basic Law AI has become a key technology leading to fundamental changes in society and industry. In particular, the emergence of generative AI has raised concerns about safety and ethical issues along with new possibilities. Against this backdrop, the National Assembly of Korea has integrated 19 bills to enact the AI Basic Law, aiming to promote AI technology and industry, protect the rights and interests of the people, and establish a trust-based foundation. The AI Basic Law aims to support the safe and ethical development of AI technology and function as a comprehensive and comprehensive norm to enhance the quality of life and national competitiveness. Main Contents of the AI Basic Law 1. Definition of Concepts (Article 2) The AI Basic Law regulates areas related to AI technology by defining key concepts such as high-impact AI, generative AI, AI industry, and AI businesses. In particular, high-impact AI is defined as a system that may have a significant impact on basic rights, and generative AI means AI technology that generates various results such as text, images, and voices by imitating the structure and characteristics of the input data. Also, the AI industry is defined as industry providing products development, manufacturing, production, or distribution using AI or AI technology, and related services. An AI business is defined as an entity conducting AI-related business, including corporations, organizations, individuals, and state agencies that develop and provide AI, or provide AI products or AI services using AI provided by AI developers. 2. Establishment of AI Basic Plan (Article 6) The Minister of Science, ICT, Planning and Evaluation shall establish an AI Basic Plan after deliberation by the National AI Committee every three years, and incorporate policies such as basic directions for AI policy, cultivation of professional personnel, technology standardization, and establishment of a trust-based foundation into the plan. 3. Establishment of the National AI Committee (Articles 7, 8) The National AI Committee, under the President, deliberates and approves policies for promoting AI and establishing a trust-based foundation, establishes basic plans, provides directions for promoting AI utilization, and deliberates on matters related to the regulation of high-impact AI. 4. Ensuring AI Stability and Ethics (Articles 11, 12, 27) The Minister of Science, ICT, Planning and Evaluation may designate an AI Policy Center to develop and spread international norms for AI-related policies, and may operate an AI Safety Research Institute as a specialized institution to protect the lives, bodies, and property of the people from risks that may arise in relation to AI. Also, the government may enact and publicize AI ethical principles including contributions to human life and prosperity, and the Minister of Science, ICT, Planning and Evaluation may establish and support publicity and education for the implementation of the AI ethical principles. 5. Promotion of AI Technology and Industry (Articles 13, 14) The government will support related projects to promote the practical application, research and development, and standardization of AI technology, and the Minister of Science, ICT, Planning and Evaluation may promote standardization projects such as establishing standards for AI technology. 6. Ensuring Safety and Transparency of High-Impact AI (Articles 31, 32, 33, 35) Services using high-impact AI and generative AI must provide prior notice to users and clearly indicate that the results are generated by generative AI, and systems with an operation amount exceeding a certain standard must perform measures such as risk identification, evaluation, and mitigation. In particular, companies using high-impact AI must evaluate the impact on basic rights in advance, and government agencies should prioritize products or services that have completed such evaluations. 7. Cultivation of AI Technology and Industry (Articles 21, 23) The government may promote the cultivation of professional personnel and secure overseas professional personnel to develop and promote the AI industry. Also, local governments and local governments may promote the aggregation of AI and AI research and development companies and organizations to strengthen competitiveness in development and utilization. 8. Domestic Agent Designation Obligation (Article 36) Overseas AI businesses without a place of business or sales office in Korea must designate a domestic agent and establish a support system for regulatory compliance. 9. Sanctions for Violations (Articles 40, 43) The Minister of Science, ICT, Planning and Evaluation may investigate illegal acts and issue correction orders if violations occur. Also, a fine of up to 30 million won may be imposed for violating transparency obligations, domestic agent designation obligations, etc. Implementation of the AI Basic Law, offering new opportunities for companies and imposing various obligations
Virtual assets, let’s issue them actively! Review of the securities nature of virtual assets.
Law firm Veat recently provided legal advice to a client aiming to list their virtual assets (hereinafter referred to as "this virtual asset") on a domestic virtual asset exchange, utilizing Zero Knowledge Proof (ZKP) – one of the innovative technologies in the blockchain industry – for an overseas project. What is Zero Knowledge Proof? Zero-Knowledge Proof (ZKP) is a cryptographic technology that proves a fact is true without revealing any information. In other words, it’s a method of confirming the validity of information you know without disclosing the actual data or details to the other party. This Zero-Knowledge Proof method is being re-examined in the virtual asset industry due to its ability to enable public verification while protecting personal information through encryption. Review of the Legal Nature of this Virtual Asset Act on Capital Markets and Financial Investment Article 3 (Financial Investment Products) ① As used in this Act, "Securities" means financial investment products issued by a domestic or foreign entity, which do not require any additional payment other than the money paid upon acquisition by the investor, under any pretext. However, the following securities are treated as securities only when applied to Article 15, Chapter 1, Part 2, Article 8, Chapter 1, Part 2, and Article 178 and Article 179 of this Act: 1. Investment contract securities 2. Shares, profit certificates, or securities depository receipts, considering the possibility of circulation, regulatory status in this Act or related financial laws, etc., as stipulated by Presidential Decree Generally, a financial investment product means a right acquired by agreeing to pay money or other property of value at a specific point in time, either currently or in the future, for the purpose of obtaining a profit or avoiding a loss, and involves investment risk. If a virtual asset qualifies as a financial investment product, it may be subject to the regulations of the "Act on Capital Markets and Financial Investment" (hereinafter referred to as "Capital Market Act"). Particularly, if a virtual asset qualifies as a security, it may be subject to various regulations of the Capital Market Act, so it is necessary to review the security nature of the virtual asset before issuing it to avoid violating the Capital Market Act. Law firm Veat has provided a legal opinion in Korean and English, reviewing the security nature of this virtual asset based on its deep understanding of virtual assets and the Capital Market Act, and has helped the client with the procedure of applying for trading support (listing) on a domestic virtual asset exchange. Law firm Veat with IT & Blockchain Expertise Law firm Veat provides customized legal services, harmonizing technological complexity and legal requirements, based on its expertise and deep understanding of the blockchain and virtual asset industry. Particularly, Veat's IT & Blockchain Expert Team performs legal reviews reflecting technical characteristics and supports the successful operation and growth of virtual asset projects domestically and internationally. Furthermore, Law firm Veat received commendation from the Ministry of Science and ICT for its contribution to the field of digital innovation, winning the "2023 대한민국 Digital Innovation Award," and utilizes the know-how accumulated through consulting experience with startups and IT companies to promptly and accurately meet the client’s needs. Do you need legal advice? Law firm Veat promises to continue resolving complex legal issues related to blockchain technology and contribute to the development of an innovative digital economy. If you need legal advice regarding blockchain and virtual assets, please join Law firm Veat. Thank you. Law firm Veat
Startup CEOs should know about legal safety nets, detailed clauses in shareholder agreements.
This year, conflicts between HYBE’s leading producer and representative Min Hee-jin and HYBE were reported in the media. At the center of this was a shareholder agreement. The shareholder agreement between Representative Min Hee-jin and HYBE contained important provisions. It is known to include clauses restricting the disposal of shares held by the representative, an obligation to refrain from engaging in competing businesses (non-compete), and the right to sell shares under certain conditions (put option). So, what meaning do these clauses hold for the company, founder, and investors? Let’s examine how stock disposal restrictions, non-compete, and put option clauses, which are the core of a shareholder agreement, are designed and utilized, and what role these clauses play in corporate growth and risk management. What is a Shareholder’s Agreement (SHA)? A shareholder agreement is a contract entered into by a company’s shareholders to define their rights and obligations. Shareholder agreements are typically entered into between joint founders, the company’s shareholders, or investors and related parties. They are most often entered into when a company receives investment, involving the investor, the company, and the company’s representative director. A shareholder agreement may include various items such as stock disposal restrictions, non-compete, put options, director nomination rights, consent rights for management matters, audit rights, and more. Stock Disposal Restriction: A Safety Net to Prevent Departure of Key Personnel Why is this provision necessary? The stock disposal restriction provision prevents the company’s specific shareholders (particularly the representative director, who is the core of the business) from disposing of their shares in the company, leaving the company, or losing management control without the consent of other shareholders or investors. Companies in a growth phase often have a structure where a few key personnel, such as the representative director or co-founder, hold a significant portion of the company's shares, aligning their interests with the company’s. Therefore, if a key shareholder sells their shares, it can increase the possibility that the value of shares held by other investors will decrease. For example, the stock disposal restriction provision may also include provisions such as granting other shareholders or investors the right of first refusal (Right of First Refusal) and tag-along rights. When a stock disposal restriction clause is included in a shareholder agreement, it is important to clearly understand what stock disposal conditions one is constrained by or imposes on others, depending on one’s position (whether one is a representative director managing the company or an investor), and to sufficiently discuss the necessity with all parties involved to prevent disputes. Non-Compete: A Safety Net to Prevent Leakage of Technology and Business Know-How Why is non-compete necessary? (1) This clause prohibits managers, such as the representative director, from working for or acquiring shares in competing companies, and (2) it includes a clause requiring a certain period of service. From the investor’s perspective, they expect the representative director to continuously operate the company and increase its corporate value, so they want them to promise a non-compete. The non-compete clause aims to prevent technological leaks or managerial losses that the existing company may suffer by restricting the representative director or other key personnel from joining a competitor or establishing a similar business. Particularly when non-compete and service obligations are included, the representative director must continue to work for the existing company for a certain period of time and cannot be involved in a similar industry even after leaving. Therefore, when entering into a shareholder agreement, it is important to carefully review the potential impact of these obligations on the founder and specify the specific conditions. Put Option: A Safety Net for Investor Protection Finally, a put option allows any shareholder to request that the company or another shareholder (e.g., the representative director) obligatorily purchase their shares if certain conditions are met, such as the company or representative director violating the shareholder agreement. From the investor’s perspective, it is often set to protect their investment and ensure the faithful performance of the investment contract. In a shareholder agreement, a put option is not a penalty for the representative director but can be used as a tool to reward performance. A put option is a mandatory clause that requires shares to be purchased by another shareholder, involving a substantial financial consideration for stock transactions and obligatorily fulfilling obligations related to the disposition of shares, and is evaluated as one of the strongest obligation clauses in the contract. However, if the purchase price, conditions, or purchase procedures are not clearly defined in the shareholder agreement containing this provision, the possibility of misunderstandings or disputes between the parties is very high. In particular, a put option requires consideration of various factors such as corporate valuation at the time of exercise, the purchasing entity’s ability to raise funds, and procedures for fulfilling contractual obligations, so it is essential to discuss these fully and clearly define them before entering into the contract. Therefore, when entering into a shareholder agreement, it is important to carefully review the details of the put option, such as the exercise conditions, purchase price, and procedures, with a legal professional to prevent unnecessary disputes and protect the interests of each stakeholder. We have examined what stock disposal restrictions, service obligations, and put options are and how they affect the rights and obligations of the parties. In addition to the clauses examined above, a shareholder agreement may also include various investor rights, company and representative director obligations, and more. All parties entering into a shareholder agreement should bear in mind that the rights and obligations of the shareholder agreement will continue to exist even after the company has grown and developed, and should carefully draft the shareholder agreement. Law firm Veat has grown alongside hundreds of companies, from startups to unicorns and decacorns, and has provided various legal advice, including drafting and reviewing shareholder agreements. Based on Veat's rich experience and practical expertise, we will resolve the various legal issues you may face and pave the way for stable growth. If you need legal advice regarding a shareholder agreement, please contact Law firm Veat. Thank you. Law firm Veat
[Law firm Veat TIP] Understanding Copyright A TO Z ‘10 Things That Can Be Prohibited by Copyright’
The Technology Intellectual Property team of Law firm Veat has contributed to Flattum, a startup-focused media platform, on the topic of “10 Things That Can Be Prohibited by Copyright.” Creative works have a great influence on culture and industry, and copyright, which protects them, is an essential right that guarantees the creator’s rights and encourages creative motivation to help create better content. In this column, we have specifically explained the main components of copyright and 10 actions that can be prohibited through it. [This link] allows you to view this column. This column, published by Law firm Veat TIP team, provides essential and detailed information on copyright, dividing it into copyright personality rights and copyright property rights, to everyone engaged in various creative activities and everyone who produces and utilizes content, detailing what rights they have and what kinds of actions can be prohibited by copyright. Copyright infringement cases can easily occur in everyday life. For example, inserting music without permission when making a YouTube video, or a situation where your work is used without permission, are representative cases. Anyone who deals with creative works or content should clearly understand the extent to which the materials they use and the works they produce are protected, and it is recommended that they seek advice from a legal professional. Law firm Veat TIP team specializes in providing legal advice and resolving disputes related to copyright, providing systematic and comprehensive support to creators so that they can safely protect their works and maximize the value of their creations. From copyright infringement prevention to legal dispute resolution, we provide customized legal services tailored to the characteristics and needs of each creative activity, helping creators establish and effectively manage the rights of their creations. If you have any questions regarding copyright issues, please feel free to contact Law firm Veat. Thank you. Law firm Veat
Venture Company Stock Option Legal Guide: Understanding everything from grant method (difference settlement type) to limits and procedures.
Law firm Veat received a request from unlisted venture company A (hereinafter referred to as “the client”) to review inquiries regarding stock options (stock purchase options) granting limits and related matters in accordance with the Venture Enterprise Act. The client inquired about how the stock option (stock purchase option) granting limit is determined when granting stock options, whether there is a limit to the granting of stock options even when adopting a difference settlement method, and whether the remaining limit is restored by the amount exercised when the granted stock options (stock purchase options) are exercised. Considering that the client is an unlisted venture enterprise, Law firm Veat reviewed the granting limit, method, and whether the limit is restored upon exercise of stock options (stock purchase options) in various aspects in accordance with the Venture Enterprise Act. Stock Purchase Options (Stock Options) Granting Method / Limit / Procedure 1. Method of Granting Stock Options (Stock Purchase Options) Stock options (stock purchase options) are designed as a system to provide motivation and compensation to employees or external experts, so they can only be granted in accordance with the permitted methods, and if they deviate from this, they have no legal effect. Therefore, they must follow one of the three granting methods specified in Article 16-3(2) of the Venture Enterprise Act to be recognized as stock options. - Right to purchase new shares: The right to purchase new shares at a predetermined price. - Right to purchase treasury stock: The right to purchase treasury stock held by the company at the exercise price. - Difference settlement method: The right to receive the difference between the exercise price and the market price of the stock in cash or treasury stock. The client’s difference settlement method refers to a method of receiving the difference between the exercise price of the stock and the current stock price in cash or treasury stock. This is a frequently used stock option exercise method in startups and unlisted venture enterprises, which can simultaneously achieve liquidity and reduce the burden of issuing shares. It is more flexible compared to the traditional stock payment method, but a clear review of the legal basis is necessary. 2. Limit of Stock Options (Stock Purchase Options) As an unlisted venture enterprise, the client is subject to the Venture Enterprise Act, which stipulates that the stock purchase option granting limit shall not exceed a portion of the total outstanding shares, and the law stipulates that there is a separate limit for those granted to external experts. Therefore, the stock option (stock purchase option) granting limit may differ depending on the specific circumstances of those who receive stock purchase options, so a review is needed. If granted in excess of the stipulated limit, it will be deemed a violation of the regulations established to protect shareholder value and prevent abuse of stock options, and may be nullified by law or subject to a claim for damages from shareholders. 3. Board of Directors’ Resolution and Article of Incorporation are Required for Stock Purchase Options (Stock Options) Board of directors’ resolution and amendment of the article of incorporation are essential procedures to secure the transparency and legitimacy of stock option granting. This proves to all shareholders that the decision has been made fairly and legally. A special resolution requires the approval of more than two-thirds of the voting rights of the attending shareholders and more than one-third of the total outstanding shares, as stipulated in Article 195 of the Commercial Law. The article of incorporation must include contents regarding stock option granting in advance. If not specified in the article of incorporation, the granting of stock options may lose its legal effect. Matters requiring a board of directors' resolution include the stock option granting targets, number of grants, exercise price and conditions, and granting method. 4. Whether the Limit is Restored After Exercise of Stock Options (Stock Purchase Options) The stock option granting limit is set as a relative ratio to the total number of issued shares. Exercised stock options are treated as the issuance of new shares or the transfer of existing shares, and can be considered as deducting from the granting limit. The Venture Enterprise Act does not explicitly specify whether the granting limit is restored when stock options are exercised. Therefore, Law firm Veat reviewed based on related materials such as the “Stock Purchase Options Manual for Unlisted Venture Enterprises.” Stock options (stock purchase options) are an important system that provides various benefits such as attracting and retaining talent, reducing the company’s financial burden, and increasing corporate value. Law firm Veat goes beyond simple legal advice and deeply understands the client’s business environment and provides customized legal solutions tailored to the growth stages of venture enterprises and startups. In particular, it discusses various aspects of the granting limit, method design, and management after exercise of stock options, which are complex legal issues, to support the introduction of stock options, and can also provide one-stop services including related registration work. Legal advice may be required not only for the stock option contract but also at the time of exercise. Those who need regular or intermittent legal advice can subscribe to Law firm Veat's regular legal advisory service or membership service to receive legal advice. Law firm Veat reviews a comprehensive range of legal issues that venture enterprises and startups may face in actual business environments and provides legal advice optimized for each company's growth stage and characteristics. For inquiries regarding stock options, regular legal advisory services, and membership services, please inquire through the link below. Thank you. Law firm Veat
Law firm Veat, "Innovation Forest Awards" presented Mindis (Charan) with the Challenging Growth Award.
지난 12일, 글로벌 스타트업 축제 'COMEUP 2024'의 Partner Showcase로 진행된 ‘마크앤컴퍼니 혁신의숲 어워즈 & 그로스 쇼케이스’에서 Law firm Veat가 '도전성장상(Law firm Veat상)'을 시상하였습니다. 이번 행사를 주최한 혁신의숲은 국내 스타트업의 다양한 데이터를 수집·분석하여 투자자, 대기업, 정부기관 등과 공유하는 스타트업 성장 분석 플랫폼입니다. 2021년 서비스 시작 이후 현재 약 1만 개의 스타트업 정보를 포함하고 있으며, 월간 활성 사용자 수(MAU), 소비자 거래액, 고용 현황 등 약 80여 종의 데이터를 시각화하여 제공하고 있으며, 이를 통해 스타트업 생태계의 정보 접근성과 건강한 성장을 지원하고 있습니다. 또한, 매년 '혁신의숲 어워즈'를 통해 성장 유망 스타트업을 발굴하고 지원하는 데 앞장서고 있습니다. '혁신의숲 어워즈'는 스타트업의 소비자 거래액, 방문자 수, 고용 인원 등 주요 성장 지표와 평판 및 트렌드를 종합적으로 평가하여, 성장 가능성이 높은 초기 기업을 선정하고 격려하는 자리입니다. 올해 시상은 ▲균형성장상, ▲도전성장상, ▲기술혁신상, ▲미래성장상, ▲혁신성장상 총 5개 부문으로 구성되었으며, 각 부문 시상자로는 Law firm Veat를 비롯하여 LG유플러스, NICE평가정보, 베스핀글로벌, 네이버클라우드가 참여하였습니다. Law firm Veat가 시상한 '도전성장상(Law firm Veat상)'은 중고 패션 아이템 거래를 위한 리커머스(Recommerce) 서비스 '차란'을 운영하는 마인이스(Minease)가 선정 되었습니다. 마인이스는 사용자 편리성과 신뢰를 높이는 독창적인 서비스인 '차란'을 통해 설립 2년 만에 이용자 수 20만 명을 돌파하고, 150억 원 이상의 누적 투자를 유치하며 빠르게 성장하고 있는 스타트업입니다. '차란'을 운영하는 마인이스에 1,000만원 법률 자문 크레딧을 전달한 Law firm Veat의 최성호 대표 변호사는 “혁신의숲 어워즈에서 스타트업의 도전과 성장을 응원할 수 있는 기회를 얻게 되어 매우 뜻깊다”며 “스타트업들이 직면한 규제와 법률적 장벽을 함께 극복하며, 기업이 더욱 큰 도전을 이어갈 수 있도록 지원을 아끼지 않겠다”고 소감을 밝혔습니다. Law firm Veat는 이커머스, ICT, 디지털 기술, 신기술, 신산업 등 다양한 분야에서 선도하고 있는 수 백여개의 스타트업의 자문/고문 변호사로서 법률 서비스를 제공하며, 스타트업의 성장과 성공을 함께하는 법률 파트너로서 자리매김하였습니다. Law firm Veat는 스타트업을 위한 정기 법률 구독서비스, 로빌드업, 로부스터, 로마스터(통칭 로시리즈'Law Series')등을 런칭하며 스타트업에 필요한 서비스를 제공하기 위하여 끊임없이 고민하고 있습니다. 앞으로도 Law firm Veat는 스타트업 생태계와 함께 성장하며, 도전과 혁신을 지원하는 법률 성장 파트너로서의 역할을 이어갈 것입니다. Law firm Veat가 시상한 도전성장상(Law firm Veat상) 관련한 자세한 소식은 아래의 기사를 참고해 주시기 바랍니다. 마크앤컴퍼니 혁신의숲 어워즈 & 그로스 쇼케이스 성료 감사합니다. Law firm Veat 드림
Virtual Mergers and Acquisitions Legal Guide: Key Points of the Virtual Mergers and Acquisitions Promotion Act and Enforcement Decree
On August 28, 2024, the Virtual Convergence Industry Promotion Act came into effect, along with the enforcement decree and enforcement rules that detail and present operational policies. With the Virtual Convergence Industry Promotion Act in effect, advanced technology industries such as the metaverse have officially entered the regulatory framework. This law legally defines the virtual convergence world (metaverse) for the first time in the world and focuses on establishing a legal foundation for the industry's sustained growth. Song Do-young, managing partner of Law firm Veat, participated in the drafting of the Virtual Convergence Industry Promotion Act and played a key role in designing the bill’s intent and direction from the outset. The Virtual Convergence Industry Promotion Act A law enacted to systematically support industries utilizing the metaverse and virtual convergence technology, and to promote innovation and growth. Background for the Virtual Convergence Industry Promotion Act The Rise of the Metaverse and Digital Transformation
[Veat News] Partner Song Do-young, Attorney, Commended by the Ministry of Science and ICT for Promoting Virtual Convergence Industry
Law firm Veat's Song Do-young, representative lawyer, has been recognized for his contribution to establishing the legal foundation for the development of the virtual convergence industry (metaverse industry) and regulatory innovation, and received a commendation from the Ministry of Science and ICT. This commendation can be seen as a recognition of his significant role in supporting the leading development of the metaverse and virtual convergence industry in Korea and establishing a sustainable industrial ecosystem. Leading participation in the world’s first definition of the metaverse and the enactment of the Virtual Convergence Industry Promotion Act Song Do-young, representative lawyer, played a leading role in legally defining the virtual convergence world (metaverse) for the first time in the world and in establishing the legal foundation for the systematic development of the virtual convergence industry. The enactment of the “Virtual Convergence Industry Promotion Act” (Metaverse Industry Act) is being evaluated as an important turning point that strengthens cooperation between the private and public sectors and supports the growth of advanced technology and new industries. Contribution to building a self-regulatory system based on private leadership Representative lawyer Song made a significant contribution to establishing a self-regulatory system led by the private sector, reflecting the characteristics of the metaverse industry. It is assessed that this has made a major contribution to providing a legal environment that guarantees the autonomy and creativity of the industry while promoting sustainable development. Proposed regulatory innovation framework 'temporary guidelines' system Furthermore, Song Do-young, representative lawyer, proposed a new regulatory innovation framework as "temporary guidelines" to resolve uncertainties arising from the existing regulatory system and to support the growth of innovative technology and new industries. This system contributes to promoting industrial development by evaluating the safety and effectiveness of new technologies while alleviating barriers to market entry. Representative lawyer Song Do-young participates in numerous key events for the development of the virtual convergence industry and contributes to the industry through professional advice and presentations. He has actively participated in forums for metaverse support, forums for metaverse convergence activation and leading the global market, seminars on metaverse ecosystem activation, and autonomous forums for industry-academia-government-association to create a sound metaverse ecosystem, and has also been appointed as a member of the Metaverse Self-Regulation Committee of the Korea Metaverse Industry Association, playing an important role in building a self-regulatory system. This commendation reaffirms that Law firm Veat is playing a leading role in the metaverse and virtual convergence industry. Law firm Veat will continue to provide innovative and professional legal services, centered around representative lawyer Song Do-young, to help Korea secure global competitiveness in the future technology industry sector. Thank you. Law firm Veat