Case Studies
[Terms of Use] Legal Review of Standard Provisions for Mobile Product Voucher and Statute of Limitations
Law firm Veat conducted a legal review to determine whether A Inc., which provides social welfare services, could demand a refund of the voucher purchase amount after failing to notify the valid expiration date based on the standard terms and conditions of the new type voucher product offered by the Fair Trade Commission. The standard terms and conditions of new type vouchers provided by the Fair Trade Commission have advisory effect as a standard terms and conditions, and it is possible to set different contents than the specified terms and conditions. However, if the provisions are less favorable to the user than the standard terms and conditions, it can receive corrective measures under the “Act on Regulation of Certain Business Agreements” through the Fair Trade Commission’s review as an unfair contract. Therefore, it is recommended to receive a preliminary legal review in advance to prevent such legal risks from occurring. Even if Law firm Veat did not provide notification according to the standard terms and conditions of the new type vouchers, if the upper-level period of limitations has expired, the company has no obligation to refund the amount, but if the upper-level period of limitations has not expired and only the valid expiration date has expired, the customer may have an obligation to request a refund of a certain amount in accordance with the standard terms and conditions of the new type vouchers, therefore it is necessary to conduct a legal review with a legal expert regarding the specific details. Law firm Veat provides legal review opinions by thoroughly understanding various user terms and conditions, experiences of handling user terms and conditions, and guidelines from related organizations such as the Fair Trade Commission and the Korea Consumer Protection Agency, and it provides suitable user terms and conditions by carefully reviewing the details of the client’s services. If you need the drafting and legal review of user terms and conditions, please feel free to contact Law firm Veat at any time. Thank you. Law firm Veat.
[Legal Times] ‘Rising Stars 2023’ Jo Eun-byul Attorney Selected
Veat partner lawyer Jo Eun-byeol was selected for LegalTimes’ ‘Rising Stars 2023’. LegalTimes, a legal publication specializing in corporate legal affairs, has been selecting the next generation of lawyers in the corporate legal market and announcing them. ‘Rising Stars 2023’ targeted junior partners or senior associates under 45 years old who will lead the future of Korean law firms, and selected them through recommendations from the firms, case studies, performance, and LegalTimes’ own evaluations by field. The Veat Law Firm’s Jo Eun-byeol partner lawyer was recognized for her outstanding performance in the TMT field of LegalTimes’ ‘Rising Stars 2023’ in areas such as the ICT Regulatory Sandbox, Electronic Finance, Personal Information Protection, and Metaverse. In particular, a case study of her representative case, which received recognition for the practical application of the special provisions for proof, as well as obtaining temporary approval for the CI unified conversion through Veat Law Firm’s mobile electronic notification services and mobile driver’s licenses with identity verification functions without physical cards, which were limited by regulations such as the interpretation of the Communications Commission, was introduced. Furthermore, the case regarding a personal information leak incident at a software talent training institution established by a government agency, and the cases related to the Korea Internet & Network Information Agency (KISA) as required by the Personal Information Protection Act, investigations regarding the possibility of secondary leakage, and support in identifying and notifying affected individuals, as well as the attention was paid to cases that Jo Eun-byeol lawyer has professionally handled related to personal information protection, such as the recent launch of ChatGPT and the processing of personal information within it, which was limited by regulations such as the interpretation of the Communications Commission.
[Terms of Use] Legal review and drafting of Terms of Use based on corporate characteristics.
Veat-based technology Company A commissioned Law firm Veat for legal review of the terms of service. Law firm Veat made revisions to terms of service, particularly in cases where they significantly impacted clients’ interests under the “Act on the Regulation of Contracts” and referenced recent unfair contract correction cases of the Fair Trade Commission, adjusting the company’s liability scope within reasonable limits and accommodating the client’s desired provisions. Furthermore, the company modified the provision allowing the company to unilaterally change the content of the service, as this could violate the “Act on the Regulation of Contracts.” Notably, considering the “Personal Information Protection Act,” the company guided clients to collect personal information in a more easily manageable manner than when simply providing the information, as done by Law firm Veat alone. Regarding terms of service, while standard terms of service are available, they may not align with Company A’s specific services; therefore, we recommend obtaining legal review from experienced legal experts to ensure compliance with the “Act on the Regulation of Contracts” and to tailor the terms to your company’s particular needs. Law firm Veat provides optimized terms of service based on its extensive experience with various terms of service and personal information protection policies, considering the characteristics of client companies and complying with the “Act on the Regulation of Contracts.” If you require legal advice regarding terms of service and personal information protection policies under the “Personal Information Protection Act,” please do not hesitate to contact Law firm Veat. Thank you. Law firm Veat
[CoinDesk Korea] An Il-won Partner Attorney_ DeFi Regulatory Strategies Interview
Law firm Veat conducted an interview with CoinDesk Korea regarding the measures for regulating DeFi. Law firm Veat meticulously examines global trends regarding blockchain industry regulation, reviewing the comprehensively evaluated results to provide legal advice. Please refer to the article below for detailed interview content, and please contact Law firm Veat if you have any inquiries related to this interview. An Il-won Partner Attorney is a lawyer who comes from a software developer background with a Senior Manager position at the Naver Search Development Center. He has served as a mentor lawyer for the Science & Technology Information and Communications Ministry’s ICT Startup, a member of the Korean Bar Association’s IT Blockchain Special Committee, etc., providing specialized legal advice in IT and blockchain fields based on his expertise and experience. Law firm Veat provides legal advice based on abundant experience in the blockchain industry, including services for virtual asset operators, virtual asset sales agreements, etc., covering a wide range of blockchain companies and cryptocurrency exchanges, including blockchain network validator participation agreements. (Direct link to related article: Hot Potato DeFi... "New technology requires new regulations") Thank you. Law firm Veat.
[Stock Options] Startup Stock Option Design and Grant Legal Consulting
Law firm Veat has been entrusted with legal consulting regarding stock option system design and grant for healthcare platform A. Law firm Veat provided legal and institutional design advice regarding the overall legal and institutional design related to A, a 100% subsidiary of a large corporation, designing the stock option system and granting stock options to employees who contributed to the company’s founding. Law firm Veat guided clients to design a stock option system by comprehensively considering the purpose, objectives, and effects on management, referring to various domestic and international cases, including Europe and overseas. Furthermore, it provided overall legal advice regarding necessary legal procedures such as articles of incorporation, internal operating rules, and shareholder resolutions for granting stock options. Specifically, based on actual dispute cases related to stock options, it provided detailed guidance on suitable operating plans for each client. The stock option system is a compensation system to distribute future corporate value increases based on the potential value development of a company, granting rights to purchase shares of the company at a predetermined price to excellent personnel. To implement a stock option system, it is recommended to consult with a corporate legal expert and receive comprehensive legal consulting to ensure that a stock option system suitable for the company’s direction is established, involving procedures such as drafting contracts with employees to be granted stock options, amending articles of incorporation, operating rules, and shareholder resolutions. Law firm Veat provides stock option system legal consulting and comprehensive corporate legal advice based on its experience advising various startup companies. If you need legal consulting on stock options or require regular corporate legal advice, please contact Law firm Veat. Thank you. Law firm Veat
[Veat News] Partner Attorney Seung-cheol Baek, Partner Attorney Eun-byeol Jo_Advisor Attorney for the Personal Information Protection Committee Re-appointed
Law firm Veat's Baek Seung-cheol Partner Lawyer and Jo Eun-byeol Partner Lawyer have been re-appointed as advisors to the Personal Information Protection Committee. Baek Seung-cheol Partner Lawyer and Jo Eun-byeol Partner Lawyer continue to play a role in supporting the Personal Information Protection Committee's personal information protection policies and providing advice on matters related to the work overseen by the Protection Committee, including the interpretation and application of regulations and legal review. Jo Eun-byeol Partner Lawyer is continuously appointed as an advisor to the Personal Information Protection Committee, and has also been appointed as a member of the Personal Information Protection Committee’s Information Disclosure Review Committee, holding extensive and professional expertise in information protection and disclosure work, which she leverages to lead the Personal Information Consultation Team at Law Firm Veat and further enhance the team’s capabilities. Baek Seung-cheol Partner Lawyer holds qualifications as a PIPL Assessor and ISMS-P Certification Assessor, and is active as an IT specialist lawyer selected by the Korean Bar Association. Based on her extensive experience providing advice on personal information protection and personal information security incidents, she is actively conducting personal information protection courses for government agencies and businesses. Thank you. Law Firm Veat.
[Veat News] Partner Attorney Seungchul Baek – Participation in the National Assembly Discussion on the Next-Generation Agricultural and Rural Integrated Information System, as a Personal Information Expert.
Law firm Veat partner attorney Beomseong Cheol participated as an expert in the ‘Next-Generation Agricultural and Rural Integrated Information System National Assembly Forum’ held at the National Assembly Building and conducted the discussion. The discussion held in the 2nd Seminar Room of the National Assembly Building was held to gather opinions from experts in various fields regarding the ‘Next-Generation Agricultural and Rural Integrated Information System’ and to establish legal grounds. Law firm Veat partner attorney Beomseong Cheol participated in the discussion as an expert with specialized knowledge regarding the construction and operation of the Agricultural and Rural Integrated Information System. Attorney Beomseong Cheol is an ‘IT Specialist’ attorney certified by the Korean Bar Association, holds the qualifications of a PIPL examiner and ISMS-P examiner, and is being reappointed as a consultant to the Personal Information Protection Committee in 2023, and is actively performing external activities such as education and lectures on personal information protection and cybersecurity based on his abundant practical experience and experience advising on various personal information protection and infringement cases. If you are interested in articles related to the ‘Next-Generation Agricultural and Rural Integrated Information System National Assembly Forum’ with the participation of attorney Beomseong Cheol, please refer to the link below. (Article Link: ‘Next-Generation Agricultural and Rural Integrated Information System National Assembly Forum’ Held) Thank you. Law firm Veat
[eKorea] An Il-won Partner Lawyer_Can legal liability be imposed if defamation occurs due to false information spread by AI?
Law firm Veat partner attorney An Il-won conducted an interview from a legal expert perspective regarding whether legal responsibility can be demanded if defamation occurs due to false information spread by AI caused by the “hallucination phenomenon” of ChatGPT (ChatGPI). Please refer to the detailed interview content in the article below, and please contact Law firm Veat if you have any inquiries related to this interview. Partner attorney An Il-won majored in computer science and worked as Manager at Naver Corporation Search Development Center. He also conducted research and development on document ranking systems (search engine ranking systems) and distributed databases. In addition, he achieved 7th place (silver prize) in the Korean regional finals of the world-renowned coding skills competition, the Association for Computing Machinery International Collegiate Programming Contest (ACM-ICPC), and has a history of being a legal mentor for the Ministry of Science and ICT’s ICT Startup Legal, and as a member of the Korean Bar Association’s IT Blockchain Special Committee. He provides legal advice based on a deep understanding of legal issues for IT companies and blockchain/virtual asset companies. [eKorea] ChatGPT-like chatbot AI is causing problems worldwide due to the “hallucination phenomenon” – incorrectly presenting information. There is also concern that the wrong results produced by this hallucination phenomenon could damage the reputation of a specific individual. Recently, American legal scholar Jonathan Turley discovered that ChatGPT was spreading false information that he had committed a crime – he had been told that he had committed a crime. A colleague attorney requested ChatGPT to create a list of “lawyers with a criminal record” for research, and ChatGPT responded by including his name on the list. ChatGPT cited a 2018 March Washington Post article as the source of information – Turley professor cited the article, which did not exist. AI ‘Lying’ Raises Defamation Concerns, Asking ChatGPT ‘Korean Politician Who Committed a Crime’ / Source: eKorea (http://www.ekoreanews.co.kr)
[Veat News] Mr. Songdo Young Attorney at Law Appointed to the Demand-Proofing Linked Research and Development Project for Strengthening Infection Disease Medical Safety Committee
Law firm Veat’s representative attorney, Songdo-yeong, has been appointed to the Demand-Proofing Linked Committee for the Research and Development Project for Strengthening Infection Disease Medical Safety. Representative attorney Songdo-yeong of Law firm Veat will be appointed as a new member of the Demand-Proofing Linked Committee and will provide professional opinions. Representative attorney Songdo-yeong has conducted various proofing case consultations, including proofing service legal consulting and research and development projects related to the improvement and establishment of laws, and has accumulated experience through reviewing numerous sandbox proposals and providing legal consulting advice. Based on this experience, he will contribute as a member of the Demand-Proofing Linked Committee for the Research and Development Project for Strengthening Infection Disease Medical Safety. Thank you. Law firm Veat
[Veat News] Mr. Songdo Young Attorney, Appointed as Innovative Financial Appraisal Committee Member
The representative lawyer of Law firm Veat was appointed as a member of the Innovative Finance Appraisal Committee. The Innovative Finance Appraisal Committee is designated by the Financial Services Commission for the purpose of reviewing applications for the designation of innovative financial services. The representative lawyer of Law firm Veat has been appointed as a new member of the Innovative Finance Appraisal Committee and will conduct quarterly reviews of innovative financial services going forward. The representative lawyer, Songdo-yeong, has accumulated expertise through practical experience, including regulatory sandbox improvement consulting for organizations such as the Korea Information & Communications Industry Promotion Institute, the Korea Land & Geoscience Information Institute, and the Korea Institute of Industrial Technology, and will contribute professional expertise to the appraisal of innovative financial services. Thank you. Law firm Veat