Case Studies
Providing legal advice on personal information processing policies and protection measures for overseas online platforms, etc.
Recently, overseas direct purchases and online platform usage have rapidly increased, leading to a rise in consumer complaints and disputes. The Personal Information Protection Committee released a press release on March 13, 2024, announcing comprehensive measures to strictly enforce domestic laws for overseas online platforms and protect consumers. In particular, personal information infringement was identified as a major item of concern for potential consumer damage. Due to the nature of services provided by overseas online platforms, the international transfer and processing of personal information is inevitable; therefore, there is an obligation to conduct legal reviews domestically and internationally and to take appropriate measures as stipulated in laws such as the "Personal Information Protection Act." Law firm Veat’s Personal Information Protection Team possesses deep expertise in various personal information issues and provides professional legal advice to ensure that companies comply with domestic and international laws, such as the "Personal Information Protection Act," when transferring and processing personal information. Law firm Veat Personal Information Legal Consultation Cases We provide advice on personal information issues to help companies minimize legal risks in the personal information processing process. Typical personal information legal consultation cases are as follows. Legal advice regarding KISA (Korea Internet & Security Agency)’s recommendations on personal information processing policies in accordance with amendments to the Personal Information Protection Act, including collection items, automatically generated information, rights and obligations of information subjects, and unannounced overseas transfer related matters. Legal advice regarding the applicability of GDPR to the European region, necessary procedures for personal information collection, notification requirements for overseas transfer of personal information, and necessary procedures for outsourcing personal information processing. Legal advice regarding the handling and transfer of personal information of both employers and job seekers, including “sensitive” information such as resumes and academic records, and “sensitive information” such as health. Legal advice regarding the establishment of a personal information management system for customized advertising sales in accordance with the amended Personal Information Protection Act enforced on September 15, 2023. Legal advice regarding the method of obtaining consent for personal information collection related to patient health checkup management services. Legal advice regarding whether acquired medical and surgical information can be converted into pseudonymized information, etc. Law firm Veat’s Role Law firm Veat provides necessary legal advice based on extensive experience and deep expertise in the field of personal information protection that may arise from online platforms. Laws and regulations related to personal information protection are continuously amended, and Law firm Veat’s Personal Information Team monitors the latest legal trends related to personal information and applies them to clients' business models to minimize legal risks and ensure legal stability. If you are concerned about legal risks due to continuously handling personal information issues while providing related services such as online platforms, please contact Law firm Veat. Law firm Veat’s personal information experts will support companies in successfully operating in the global market. Thank you. Law firm Veat
Legal review of service terms and conditions for a workforce brokerage platform and privacy policy to be posted on the website.
Law firm Veat recently received a request from workforce intermediary platform A (hereinafter referred to as the "client") to draft service usage terms and conditions and a personal information processing policy to be posted on the website, and to provide consent forms necessary for personal information collection, use, and provision. Due to the nature of the platform business aimed at intermediation and referral, the relationship between the three parties needs to be clarified and precisely defined. Drafting platform service terms is essential for legal counsel with extensive experience in related fields because there is no way to know what disputes might arise in a multi-party relationship. Law firm Veat’s e-commerce team provided clear and detailed terms of service that meet legal requirements while also aiding user understanding. Specifically, the terms accurately reflect the content of the platform service to aid user understanding and to fall within the scope not invalidated by the Act on the Regulation of Standard Contract Terms (hereinafter “Standard Contract Act”), and to identify the scope in which both parties can be relieved of liability in disputes, so that the "terms of service" are suitable for the client's service and have legal effect. Furthermore, workforce intermediary platforms handle personal information of job seekers, including sensitive information such as career and education, and sensitive information such as health, and must transmit this information to both job seekers and employers, which means they are at significantly more risk of personal information processing compared to typical e-commerce companies. Therefore, even more attention must be paid to personal information processing. In fact, on July 2023, the Personal Information Protection Commission imposed a fine of 76 million won on recruitment platform I, which had a data breach due to hacking. While drafting a personal information processing policy and other forms can ensure personal information is safely processed, posting a personal information processing policy is a basis for establishing fundamental policies regarding the company’s personal information processing and demonstrating compliance with the Personal Information Protection Act, and obtaining consent forms for lawful personal information collection, use, and provision serves as a cornerstone for personal information protection. Contents to be included in the Personal Information Processing Policy 1. The specific purpose of personal information collection must be clearly stated. 2. The retention and processing period of collected personal information must be disclosed. 3. Detailed information regarding personal information collection, use, third-party provision, and outsourcing, as required by law, must be included. 4. Instructions on how information subjects can exercise their rights, such as access, correction, and deletion, must be included. 5. Explanations of internal policies and systems for securely processing personal information must be included. 6. Each company’s service may have unique characteristics, and accordingly, personal information processing related matters required by specific laws may need to be reflected in the personal information processing policy. For example, depending on the specific service, content related to video information processing equipment, and the Act on the Protection and Use of Location Information (hereinafter “Location Information Act”) may need to be added. It is important to perform a legal review to ensure that the company has accurately complied with the law when revising or establishing its personal information processing policy, whether the latest legislation has been applied, and whether the personal information processing policy is consistent with the company’s actual services. The contents of the personal information policy serve as a basis for verifying the legality of personal information processing, so we recommend that you have it reviewed in detail by a personal information attorney to ensure that the company can provide services without legal risk. Eunbyeol Jo and Seungcheol Baek, partner attorneys at Law firm Veat, have been reappointed as legal advisors to the Personal Information Protection Committee, and leverage their deep understanding and expertise in the Personal Information Protection Act to provide practical assistance to companies. In particular, Eunbyeol Jo was selected as an outstanding consultant attorney by the Personal Information Protection Committee and received an award, highlighting her expertise in personal information matters. Law firm Veat provides support based on continued experience in platform business, ensuring compliance with relevant laws in the process of establishing basic forms for platform business terms of service and personal information processing policies, while also minimizing potential legal risks that may arise from contract (terms of service) performance or personal information processing. Thank you. Law firm Veat
[202403] Monthly Veat March Issue_Regular General Meeting of Shareholders, Is This Okay?
Okay, here's the translation of the text from the provided URL, adhering to your specific instructions: 저희 Law firm Veat는 혁신적인 기술과 전문성을 바탕으로 고객에게 최적의 법률 서비스를 제공합니다. 저희는 기업, 개인을 대상으로 다양한 법률 문제에 대한 해결책을 제시하고, 고객의 성공적인 비즈니스와 성장을 지원합니다. 저희 Law firm Veat는 다음과 같은 주요 분야에서 전문적인 서비스를 제공합니다. 기업 자문 소송 지적 재산권 계약 부동산 저희 Law firm Veat는 고객의 입장에서 생각하고, 고객의 요구에 부응하는 맞춤형 법률 서비스를 제공하기 위해 노력합니다. 저희는 고객과의 신뢰를 최우선으로 생각하며, 투명하고 효율적인 서비스를 제공합니다. 저희 Law firm Veat는 고객의 성공적인 비즈니스를 위한 든든한 파트너가 되겠습니다. 문의 사항이 있으시면 언제든지 저희에게 연락 주십시오.
[Law firm Veat TIP] Starting a digital content business, copyright law!
As digital content businesses grow, the importance of copyright management is steadily increasing. This has become a key element that can determine the success or failure of a business. With the advent of the digital age, the creation, distribution, and consumption methods of content have changed rapidly, further highlighting the importance of copyright protection. In particular, the arrival of the hyper-connected society has increased connections between individuals, corporations, and even devices, accelerating the shift in media power. In this environment, content has become an asset more valuable than land or buildings, and copyright law has become the basic law for content businesses. If you are preparing for a digital content business, please refer to the following and feel free to contact Law firm Veat TIP team for specific legal advice. "Our company is preparing for a digital content business. Why is copyright important for our business?"
An Il-un, partner lawyer, conducts RSU lecture that startup executives would be curious about.
Law firm Veat is hosting a special webinar covering everything about RSU (Restricted Stock Units) which plays an important role in the growth of startups and talent management. This webinar is a topic that many startup executives and HR professionals pay close attention to, informing innovative methods for retaining and motivating core talent, RSU (Restricted Stock Units). It welcomes all those involved in the future of startups, including executives, HR professionals, and organization managers. We hope you gain the knowledge needed to protect and manage talent, the greatest asset of a startup, through this webinar. Lecture Overview Topic: Prevent Key Talent Leakage, Everything about Startup RSU Date & Time: Wednesday, April 17th, 14:00~15:00 Location: Online (YouTube Streaming) Cost: Free
[Law firm Veat_Plattum Column] Understanding Copyright Law Terms
Law firm Veat's Technology Intellectual Property (TIP) team addressed 'Terminology,' the first step in understanding the 「Copyright Law」, through Platum, a magazine specializing in startups, in an easy-to-understand manner. In law, it is important to accurately understand the definition of terms. This is because the 「Copyright Law」 defines terms for 36 terms. This column details the importance of terminology in the 「Copyright Law」. Law firm Veat's TIP team provided detailed information necessary for businesses such as publishing, performance, and broadcasting, which handle various works, through this column published in Platum. You can check the full article through [해당링크]. Legal terms often differ from their dictionary meanings. This is because they reflect the specific and accurate meaning that a term has in a legal context. In particular, it is important to accurately understand the legal meaning of terms such as 'performance' in the Copyright Law. Therefore, when interpreting the law in a business that handles works, please carefully examine the Copyright Law with deep understanding so that you can correctly understand and apply terms in a legal context and prevent future legal risks. Law firm Veat's TIP team provides solutions to protect various intellectual property related to the correct interpretation and application of the Copyright Law, the accurate use of works, copyright-related disputes, and to minimize legal risks. Law firm Veat's TIP team is led by attorney Oh Seung-jong, who has handled numerous copyright cases through trials and consultations for 25 years, representative attorney Choi Seong-ho, selected as a 'Leading Lawyer' in the Legal Times TMT field, partner attorney Ahn Il-woon, who is actively serving as a community expert of the Korean Copyright Committee, and attorney Jeon Yong-hwan, who has extensive experience in ICT regulatory sandbox and proof-of-concept service legislation consulting. The team is composed of attorneys with specialized knowledge and diverse experience to solve complex copyright and intellectual property rights issues. Thank you. Law firm Veat
Legal Review of Overseas Project Financing Contracts
Law firm Veat received a request from client A and proceeded with a legal review of an overseas project financing (Project Financing) contract. Law firm Veat's investment advisory team proceeded with a legal review regarding a contract for investing funds in a specific project carried out by a foreign corporation and distributing profits from that project. In particular, Law firm Veat's investment advisory team thoroughly analyzed the scope of the project, the method and calculation criteria for profit distribution, grounds for termination or investment cancellation, and the rights of consent for investors during the contract review process, and also detailedly reviewed and advised on the ownership of intellectual property rights related to the project. Elements to Consider When Investing in Project Financing Overseas project financing requires consideration of a variety of laws, regulations, and cultures. Therefore, a deep understanding of the legal and regulatory environment of the country where the project is being carried out is necessary. Also, the overseas project financing contract should not only carefully review economic conditions such as profit distribution, investment recovery period, and cash flow based on business performance, but also carefully verify whether it includes investor protection measures, a method of sharing risk in the event of business failure, and contract provisions prepared for various risks that may occur during business execution. Therefore, we recommend that you carefully review all clauses comprehensively, including clauses such as the investor's right of consent, whether such a clause is included, whether the investor's rights are adequately protected, and whether communication for the smooth progress of the project is possible, together with a lawyer with extensive experience in related consulting. Law firm Veat is supporting investors to minimize legal risks from overseas project investment and proceed with stable investment, based on professional understanding of the investment sector, and providing legal consulting by carefully reviewing detailed provisions for investor protection. Based on know-how and successful cases related to overseas project investment, Law firm Veat is performing the role of a trusted legal partner when investors have legal issues. If you are preparing for overseas investment projects and other investments, please experience the professional legal services of Law firm Veat. Thank you. Law firm Veat
[Law firm Veat_Plattum Column] Understanding the Unclear Concepts of Copyright Law Clearly
Law firm Veat’s Technology Intellectual Property (TIP) team has addressed unclear terms in the 「Copyright Act」 in an easy-to-understand manner through Platum, a magazine specializing in startups. It is important to understand key concepts in laws related to content, including the 「Copyright Act」。 This is because it allows you to distinguish between what you can do and what you cannot do when running a business. This column clearly explains the criteria for judging unclear concepts in the 「Copyright Act」 such as originality. Law firm Veat’s TIP team has provided detailed information to startup business operators handling works through this column published in Platum. You can check the full text of the column through [this link]. In businesses dealing with works, it is important to properly understand laws related to content, including the 「Copyright Act」 which serves as the basis for the criteria. If you are running a content business, you need to correctly understand copyright issues that may arise and make proper judgments by examining various copyright judgment cases from multiple perspectives. Therefore, we recommend that you seek essential advice by receiving assistance from legal professionals who can provide clear interpretations of unclear legal concepts. Law firm Veat’s TIP team has unparalleled expertise in copyright and content-related legal issues. It provides comprehensive content legal consulting and litigation advice in the latest trend technology fields such as NFT, metaverse, and games, including copyright, trademark, patent, design rights, and unfair competition prevention law. Law firm Veat’s TIP team is led by attorney Oh Seung-jong, who has handled numerous copyright cases through trials and consultations for 25 years, along with representative attorney Choi Sung-ho, selected as a ‘Leading Lawyer’ in the Legal Times TMT field, partner attorney Ahn Il-woon, who is actively engaged as a community expert of the Korean Copyright Committee, and attorney Jeon Yong-hwan, who has extensive experience in ICT regulatory sandbox and proof-of-concept service legal consulting. The team is composed of attorneys with specialized knowledge and diverse experiences to solve complex copyright and intellectual property rights issues. Thank you. Law firm Veat
[Law firm Veat TIP] NFT Legal Guide 'What happens to perks when an NFT is resold?'
Recently, the NFT market is expanding into various areas, from digital art to music and virtual real estate. In particular, the provision of NFT perks and resales presents new opportunities and challenges for both creators and collectors. The NFT sales market is rapidly evolving, and the provision of NFT perks and resales provides many opportunities for creators and collectors. However, at the same time, the importance of legal risk management is also increasing. Law firm Veat’s TIP team provides legal guidance related to NFT perks. The following is Law firm TIP team FAQ created based on frequently asked questions to help with a basic understanding of legal issues related to NFT sales. For more detailed advice or legal services for individual situations, please feel free to contact Law firm Veat TIP team. Q1: What precautions should be taken when providing NFT perks? A1: NFT sellers have a contractual obligation to provide the perks as stated in the NFT product description. The promised perks should be provided through reasonable means and in a timely manner. Therefore, it is important for NFT sellers to explain the details of the perks as much as possible to avoid any misunderstanding, Q2: Are NFT perks valid when resold? A2: The validity of NFT perks depends on the conditions stated by the seller in the product description. It is important to clearly state the conditions for the perks, such as when they will be provided, who is eligible, and the duration. Q3: What should you do if it becomes difficult to provide the promised perks? A3: If you are unable to provide the promised perks, you should notify the buyer as soon as possible, offer alternative perks, or reach an agreement. Failure to provide the promised perks may result in damages or, if recognized as intentional, may subject you to criminal liability for fraud. You may also be subject to account suspension or blocking by the exchange. In some cases, legal liability may arise, so it is advisable to consult with a legal professional in advance. Q4: What should you do when a legal dispute arises regarding NFT perks? A4: Because the validity of NFT perks can be judged from various perspectives, if an NFT-related legal dispute arises, you should immediately consult with a professional with a deep understanding of NFTs and related advisory experience. Law firm Veat’s TIP team boasts unparalleled expertise in legal issues related to NFTs. We provide legal advice and litigation support based on deep expertise in emerging technology fields such as copyright, intellectual property protection, NFTs, metaverse, and games. Led by Oh Seung-jong, the top copyright specialist who has handled the largest number of copyright cases through litigation or consultation over the past 25 years, we have resolved complex legal issues that content business operators face. We provide essential advice and support to minimize legal risks that may arise when operating businesses in emerging technology fields such as NFTs, intellectual property rights, and the metaverse.
Legal Review of the Validity of Prior Consent Obligations in Investment Contracts
Law firm Veat received a request from Startup A (hereinafter referred to as "Client") to review the validity of the pre-consent obligation in the investment contract and prepared an opinion. Law firm Veat’s Investment Advisory Team conducted a legal review regarding the legality of key managerial consent items agreed with investors and the legality of rejecting investor consent. In particular, they focused on reviewing whether the validity of the consent obligation clause can be denied when a specific investor refuses consent and whether a violation of good faith can be argued against the investor’s refusal of consent. According to Supreme Court precedent, granting preferential rights or benefits to shareholders is generally considered a violation of the principle of shareholder equality. However, such cases may be allowed if they follow legally permitted procedures and methods or if there are special circumstances justifying the differentiated treatment. Law firm Veat’s Investment Advisory Team thoroughly reviewed recent Supreme Court precedents and legal reasoning regarding the consent obligation and the principle of shareholder equality. They clarified the complex legal relationships between investors and companies regarding the effect of managerial consent clauses and the limits of good faith violation claims when consent is rejected, and established a strategy to minimize the legal risks that the Client may face.