News

[Counsel] Legal counsel on registration of General Partner (GP) newly elected for management participation-format PEF

2019-10-02 | Latest Work

VEAT Law Firm recently assisted with the registration of Company D in running a Discretionary Investment Service business as General Partner (hereafter "GP") of a PEF oriented to management participation under the Act on Capital Market and Financial Investment Service (hereafter "PEF") as requested by Company D, and was notified by the Financial Supervisory Commission on December 21, 2018 that Company D had been duly registered as the GP of the PEF. VEAT Law Firm provided legal counseling for rapid and accurate GP registration based on Article 249-15 of the Act on Capital Market and Financial Investment Service and regulations concerning the financial investment service after being entrusted by Company D. This case was peculiar or different from the registration of an ordinary full-time GP, as a company already running a discretionary investment service business was to be registered. In particular, the lawyers examined the case in preparation against the possibility that issues related to internal control would arise with the fund's conflict of interest safeguard system. In addition, the registration process progressed smoothly as VEAT Law Firm attorneys quickly presented advisory opinions concerning the issues related to the Capital Market Act, for which Company D was requested by the Financial Supervisory Commission to supplement the application documents. Those in need of legal counseling for PEF, GP registration are invited to contact us at their convenience.

[Counsel] Consulting successfully completed on the protection of personal information by Yuyu Teijin Medicare Inc.

2019-10-02 | Latest Work

VEAT Law Firm successfully completed consulting on the protection of personal information by Yuyu Teijin Medicare Inc., jointly founded by Yuyu Pharmaceuticals of Korea and Teijin Pharmaceuticals of Japan for conducting an oxygen therapy business. Sensitive information, as well as general personal information, must be collected for oxygen therapy service and the import and sale of the related medical appliances. It is also essential to exchange information closely with the National Health Insurance Corporation (NHIC) municipal governments and the si, gun, and gu regional offices. As the business is unique in that it is regulated by such special acts as the Medical Devices Act as well as the Personal Information Protection Act, it requires consulting by experts who understand the structure and characteristics of the relevant industry. VEAT Law Firm provided consulting by intensive input of lawyers with rich experience in the legal counsel on diverse cases of personal information protection, consulting on the response to crises in connection with the leakage of personal information and the enhancement of systems for the protection of personal information. Lawyers specializing in the protection of personal information around the PM lawyer personally conducted interviews and field surveys over a long period. In particular, they provided counseling to have the company's system corrected and improved by presenting individual review opinions concerning the legitimacy of its processing of resident registration codes and other sensitive information and data used in its ERP system. The company also newly enacted or amended its policies and standard forms which had been insufficient thus far. The company deployed an enhanced system for the protection of personal information by streamlining its security solutions and internal systems and controlling and supervising the outsourced parties based on the recommendations immediately after the consultation. VEAT Law Firm provides optimum services by organizing a ‘personal information team' consisting of lawyers specializing in legal counseling on the protection of personal information, consulting, and response to crises. In particular, as the personal information team consists of lawyers from science and engineering schools, the clients are highly satisfied with their in-depth understanding of IT systems as well as the relevant statutes, precedents, and authoritative interpretation. Those with any questions concerning the analysis and enhancement of personal information protection systems are invited to contact VEAT Law Firm at their convenience.