Case Studies
[News] Webinar on the Korean Virtual Asset Regulatory Environment Concluded
Veat successfully completed a webinar on the crypto regulations in Korea for global crypto exchanges on August 25th. One of the webinar participants said, "It was a good opportunity to discuss with foreign officials through this English webinar while wondering about Korea’s crypto regulations." This webinar can be viewed again through the Veat Law Firm YouTube channel. Veat successfully completed a webinar on the crypto regulations in Korea for global crypto exchanges on August 25th. One of the webinar participants said, "It was a good opportunity to discuss with foreign officials through this English webinar while wondering about Korea’s crypto regulations." This webinar can be viewed again through the Veat Law Firm YouTube channel. Thank you.
[English Webinar] Crypto Regulations in Korea
Law firm Veat will hold an English webinar on the Korean virtual asset regulatory environment. We aim to provide the latest information and insights to those involved in global virtual asset exchanges, blockchain technology businesses, or virtual asset funds/investment areas. The webinar will be held on Tuesday, August 25, 2021, at 2:00 PM Hong Kong time, or 3:00 PM Seoul time via the YouTube link (https://youtu.be/94bG7glKZfE). If you have any inquiries regarding the webinar, please send an email to contact@veat.kr. Thank you.
Law firm Veat, 'Leading Lawyers 2021' Corporate • M&A and TMT areas selected
Law firm Veat was featured in ‘Leading Lawyers 2021’ selected by Legal Times, alongside leading lawyers in ‘M&A and Corporate Law’ and ‘TMT (Technology, Media and Telecommunications) areas’. ‘M&A and Corporate Law’ area is one of the leading fields where the most lawyers are active among corporate legal fields. And ‘TMT (Technology, Media and Telecommunications) area’, which has recently been the fastest-growing area due to the development of new technologies such as AI, is also a field that is continuously emerging as a leading player, with the emergence of numerous new services and integrated services related to the Internet of Things, fintech, big data, cloud services, etc. This has resulted in the constant emergence of complex legal issues regarding related services and products, leading many law firms to establish and supplement specialized teams.
[Consultation] Legal Review of Software Development Dispute
Law Firm Veat conducted legal review regarding software development disputes and proposed response methods. A Co. Ltd. had a dispute due to the prolonged delay in application development commissioned from a software development company. Accordingly, A Co. Ltd. requested a consultation from Law Firm Veat regarding the rights and response methods it could exercise in this dispute situation. Law Firm Veat meticulously reviewed the software development agreement and the dispute situation from A Co. Ltd.’s perspective, and based on civil law and relevant case law regarding software development contracts, it proposed ▲Response methods that could be favorable in future disputes”>. With the growth of industries utilizing various software programs, the number of contracts related to ▲Complexity of software related contracts”> and ▲Software development company and client”> are also increasing. In the case of software development contracts, it is advisable to prepare software development contracts that can prevent disputes in advance. If a dispute has already occurred, you should consult with experts who understand the IT • Software field to confirm your legal rights and take appropriate action. Law Firm Veat provides consultation based on professional understanding of ‘IT/Technology’ and ‘Law’ led by IT specialists and lawyers who are former developers. If you need legal advice related to software development disputes, etc., please contact Law Firm Veat. Thank you.
[Announcement] `2021 Spatial Information Startup Company Legal Consultation Support` Startup Company Recruitment`
The Ministry of Land, Infrastructure and Transport and the Korea Space Information Industry Promotion Agency are conducting ‘Space Information Startup Legal Consultation Support’ in order to provide a rapid and stable growth environment for space information-based integrated startup companies. We encourage your participation. □ Overview ㅇ (Background) Recently, as various technologies and data of space information-based startup companies, such as digital twins and artificial intelligence, are utilized in integrated and combined industries, legal issues such as disputes between companies and infringement of intellectual property rights are occurring. - Therefore, a legal support program is being promoted to provide rapid stability and growth environments for space information-based integrated startup companies. ㅇ (Period/Overseeing Agency) Until November 30, 2021 / Law firm Veat ㅇ (Target) 30 startup teams based on space information * Free legal support for space information utilization startup companies (in order of application) □ Main Contents ㅇ (Application Method) Download and fill out the application form through the Promotion Agency website or the Law firm Veat website, then submit it via email (hyjeon@veat.kr,02-576-8990) - (Scope of Support) Includes intellectual property rights, general contracts, terms of use, personal information processing policies, and regulatory sandbox etc. ㅇ (Procedure) Startup company application → Receipt and review of legal consultation support scope → Matching with lawyers by field → Legal consultation conducted □ Inquiry ㅇ Law firm Veat Jeon Hyun-yeon Manager (02-576-8990, hyjeon@veat.kr) ㅇ Law firm Veat KakaoTalk Channel
[Consulting] Legal review of terms of use, privacy policy, etc., for the launch of new digital healthcare products domestically and internationally.
Law firm Veat took on a referral from Company A in anticipation of the launch of a new digital healthcare service and handled the drafting of terms of use, personal information processing policies, and personal information consent forms. The digital healthcare service provided by Company A was related to a big data business utilizing sensitive patient information, so Law firm Veat reviewed and provided opinions on lawful collection · use methods in accordance with the Personal Information Protection Act and on the precautions that Company A should take during its collection · use process. In particular, as Company A planned to provide global services starting with Europe, North America, etc., it requested Law firm Veat to review the legality regarding personal information transfer and use during global service provision in addition to the forms necessary for the domestic service launch, and Law firm Veat provided comprehensive opinions after reviewing the inquiries. Law firm Veat researched and guided regarding personal information cross-border transfer of patient data from Europe and North America regions in accordance with GDPR, CCPA, etc., and regarding compliance with GDPR, CCPA and related guidelines concerning cookie collection in multiple countries such as EU countries and North America. In the age of the Fourth Industrial Revolution, various industries are converging and new industries or businesses with unprecedented diversity, unseen in existing industries, are emerging worldwide. In response to this trend, new technologies or services such as wearable devices (wearable device) and remote medical services, which integrate IT, digital technology, and healthcare, are emerging, and legal issues related to them are constantly raised. The lawyers at Law firm Veat, with a background in science and technology and extensive practical experience, understand both ‘IT/Technology’ and ‘Law’, and possess know-how accumulated through handling various regulatory sandbox-related matters, therefore, they provide rapid, accurate, and in-depth advice necessary for the rapidly changing digital healthcare field. If you are a person who needs legal review of basic forms such as terms of use and personal information processing policies in anticipation of the launch of digital healthcare related services, please contact Law firm Veat. Thank you. Law firm Veat Dream
[202107] Monthly Veat July Issue_Articles to be checked when raising capital
Law firm Veat https://stib.ee/TLl3
[Consultation] Review of the legality of collecting and using customer information, preparation of a personal information collection and usage consent form.
Law firm Veat conducts a legal review of the validity of collecting, using, and providing customer information, and accordingly, drafted consent forms for the collection and use of personal information. A, a domestic artificial intelligence (AI) startup, requested that Law firm Veat conduct a legal review of the validity of customer information collection and requested consent forms for the collection and use of personal information in order to expand its services. In this regard, Law firm Veat, based on the “Personal Information Protection Act” and other related regulations, conducted a legal review of the validity of customer information collection and, accordingly, drafted consent forms including user software usage record collection and use of personal information collection and use related to customer information collection and use. What is consent from information subjects and anonymization violating the “Personal Information Protection Act”? If consent from information subjects and anonymization are not conducted in violation of the “Personal Information Protection Act,” a fine of up to 5 years of imprisonment or a penalty of 5,000만원 may be imposed. Furthermore, personal information processors can use anonymized information for statistical purposes, scientific research, and public interest record preservation without the consent of information subjects, even after the data3 law amendment, but in this case, a penalty of up to 3% of the total sales revenue may be imposed if the conditions for anonymized information processing are violated, so companies should pay particular attention. Law firm Veat provides legal advice related to personal information such as personal information collection and use consent forms, considering the company's services and the content of the personal information collected. If you need to draft consent forms for the collection and use of personal information, please contact Law firm Veat at any time. Thank you.
[Consulting] Legal review of the securities nature of cryptocurrencies
Law firm Veat conducted a legal review regarding the securities status of virtual currency used within the game. A사는, which provides metaverse-related games based on blockchain, requested a legal review concerning the securities status of virtual currency used within that game. Accordingly, Law firm Veat meticulously analyzed the role and scope of use of virtual currency within the game, based on relevant laws and regulations, precedents, and interpretations, such as the “Act on Capital Markets and Investment Securities” (“Capital Markets Act”), and prepared a legal opinion regarding the securities status of virtual currency. Law firm Veat is working with major domestic partners in the virtual currency and blockchain industry, leading the legal market for blockchain, and providing excellent legal advisory services to help clients overcome the uncertainties of the blockchain business environment. Specifically, the leading lawyers of Law firm Veat, including CEO Seongho Kim, Partner Dongyung Song, and Senior Partner Ilwon An, have been appointed as members of the IT Blockchain Committee of the Korea Bar Association, further enhancing their expertise. If you need legal advice regarding virtual currency and blockchain, please contact Law firm Veat at any time. Thank you.
[Consulting] Providing M&A legal advisory services for ‘Pet Friends,’ a pet-specialized e-commerce platform, with a scale exceeding 100 billion won.
Law firm Veat provided all legal advisory services related to this M&A, including review of term sheets, SPA, and SHA, during the process of Petfriends being acquired by IMM PE, and successfully finalized this M&A. Veat, which was known as a privilege of large law firms, successfully completed a deal exceeding 100 billion won in M&A transactions, proving Veat’s expertise and trustworthiness, and astonishing the investment industry once again. We promise to continue to provide Veat’s differentiated legal advisory services in the areas of M&A and investment, and we sincerely congratulate the successful completion of this M&A between Veat and Petfriends, which has been together from the startup stage, ! Please refer to the related article for more specific details regarding this M&A. Thank you.