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On July 18, Lee & Ko hosted a seminar on ‘the Implementation of the Virtual Asset User Protection Act and the Introduction of Spot ETFs for Virtual Assets: Challenges and Future Prospects’.

This seminar, which was conducted both online and offline, addressed key considerations and cautionary notes regarding the Virtual Asset User Protection Act through presentations and discussions from legal, practical, and policy perspectives. Additionally, it explored the current trends and future prospects related to the introduction of spot ETFs for virtual assets.

In the first session, Vice President Jay Jaejin Kim of the Digital Asset Exchange Alliance (DAXA) delivered a presentation on “Recommendations related to the Implementation of the Virtual Asset User Protection Act.” Vice President Kim offered practical and policy-oriented guidance on legal issues and key points regarding Korea’s first comprehensive regulation on the virtual asset market. In particular, Vice President Kim highlighted critical practical issues facing virtual asset businesses, such as the necessity for issuing real-name accounts for corporations.

Subsequently, a panel discussion moderated by Lee & Ko’s partner Jongsoo Yoon was held. The panel included Wontae Sim, Deputy Director of Virtual Asset Division at the Financial Services Commission; Dr. Kab Lae Kim, Head of Financial Law Research Center of the Korea Capital Market Institute; Juhyun Lee, Head of Strategic Legal Division at Bithumb; and Lee & Ko’s partner Wooyoung Choi. The panel shared insights on various issues related to the Virtual Asset User Protection Act, including tax issues concerning virtual assets, the possibility of arbitrage transactions to constitute unfair trade practices, and crypto staking.

In the second session on the topic of “Considerations for the Introduction of Spot ETFs for Virtual Assets”, Lee & Ko’s partner Chloe Jung-Myung Lee analyzed the current trends and future outlook regarding the introduction of spot ETFs for virtual assets by providing an in-depth examination of Korea’s current regulatory landscape and discussed the positions of global supervisory authorities, including the SEC of the U.S.

Lastly, a panel discussion moderated by Lee & Ko’s partner Hyunkoo Kang featured Dr. Jaydon Lee, Senior Research Fellow of the Korea Institute of Finance, Mr. Yongjae Lee, Senior Manager at Mirae Asset Securities, Suhan Cho, Chief Legal Officer at Uprise, and Lee & Ko’s partner Jingun Kim. The discussion covered the significance of introducing spot ETFs for virtual assets in the industry, a comparative analysis of the situations in the U.S. and Korea regarding the introduction of spot ETFs for crypto assets, and the legal and policy frameworks necessary for the introduction of spot ETFs for crypto assets.

On June 19, Lee & Ko hosted a seminar on ‘Harmonious Development of Regulatory Frameworks for Personal Information and Financial Information’ together with the Korea Association of Personal Data Professionals (KAPP) and the Financial Security Institute (FSI).  

The event brought together a diverse group of experts from regulatory bodies and the financial industry to address the evolving landscape of data protection in finance.

The seminar opened with an insightful keynote address on ‘Development of MyData and the Data Ecosystem’ delivered by Vice Chairperson Jang Hyuk Choi of the Personal Information Protection Commission (PIPC). Lee & Ko’s partner Kyung Min Son provided valuable insights on practical compliance strategies for financial institutions under the amended Personal Information Protection Act. Son emphasized the critical need for companies to adapt their practices in response to increased penalties and heightened regulatory oversight.

Following the presentations, a dynamic panel discussion explored the future of personal information, financial information, and the MyData ecosystem. The panel included representatives from the PIPC, the FSC, and industry experts. Lee & Ko’s partner Hyun Jeong Cha contributed to the discussion with valuable observations on the importance of balancing innovation and risk management when operating the MyData system.

This seminar underscores Lee & Ko’s ongoing commitment to guiding clients through the intricate interplay of technology and regulation in the financial sector. As the regulatory landscape continues to evolve, Lee & Ko remains at the forefront, providing expert advice to help businesses navigate these complex changes effectively.

On Tuesday, June 4th, LEE & KO hosted a webinar titled ‘Digital Health and AI: Regulatory Innovation’.

This webinar aimed to provide companies developing digital health products and services using AI with insights into the legal issues they need to be aware of during the planning, development, and commercialization stages. Additionally, it discussed recent regulatory innovations in the digital health industry and shared perspectives on AI-related regulations.

In the first session, Attorney Sung-Il Bang presented on "Legal Issues Related to AI Services in Digital Healthcare", focusing on the emergence and utilization of generative AI. He emphasized the importance of thoroughly reviewing legal issues related to evolving regulations from the early planning stages.

In the second session, Attorney Min-Soo Kim discussed "Regulatory Innovation in Digital Healthcare", covering key aspects of the Digital Medical Products Act set to be implemented next year, the deregulation plans by the Bio-health Innovation Committee, and the integrated review and evaluation of innovative medical devices as well as the provisional registration system for health insurance.

In the third session, Attorney Sung-Hee Chae covered "AI Regulatory Trends and Prospects in Digital Healthcare". She reviewed current regulations on AI development and use in healthcare, highlighted government policies on AI ethics and reliability, and analyzed their potential impact on future policy-making and legislative discussions by regulatory bodies.

The webinar underscored the rapid advancements in AI and digital healthcare technologies, along with the accompanying legal challenges and regulatory landscape. Recognizing the integration of AI and digital health into everyday life and various industries, LEE & KO is dedicated to promptly identifying and analyzing regulatory trends and industry issues. This commitment enables us to provide clients with thorough and tailored legal advice that addresses their specific needs.

On June 2, 2024, E-Today reported that Lee & Ko will co-host the 'EU Battery Policy Utilization for Businesses Seminar' with Korea Battery Industry Association on June 4, 2024. In this seminar, Taeho Park, president of Lee & Ko Global Commerce Institute, will deliver a keynote speech on 'Implications of the Global Trade Environment for the Battery Industry.' Following this, Park Junghyun, partner at Lee & Ko, will present 'Updates on Major EU Battery Regulations,' and Sangmin Kim, partner at Lee & Ko, will introduce the EU Corporate Sustainability Due Diligence Directive (CSDDD), trends in international supply chain due diligence laws, specific due diligence obligations, and propose strategies for battery companies.

Lee & Ko, in collaboration with the Future of Privacy Forum (FPF), hosted a seminar on ‘Domestic and International Regulatory Frameworks for Generative AI’ on May 23, 2024.

Our keynote speakers, Vice Chairperson Choi Jang Hyuk from the Personal Information Protection Commission (PIPC) and Christina Montgomery, Vice President and Chief Privacy & Trust Officer of IBM, shared invaluable insights on the PIPC's key initiatives and the necessity of establishing AI governance and adopting open innovation models, respectively.

During the first presentation, Ko Hwan Kyoung, an attorney at Lee & Ko, discussed the recent developments in AI governance and regulations in Korea, analyzing the domestic regulatory trends in key AI-related areas such as personal information and finance. He also thoroughly reviewed the current domestic legislation, including the proposed Act on Development of AI and Establishing Trustworthy AI. Mr. Ko emphasized the need to seek a practical regulatory framework that ensures the creativity of the private sector, allowing AI to become a driving force for growth and innovation.

In the second presentation, Josh Lee Kok Thong, Managing Director of FPF Asia-Pacific, provided useful information on the generative AI regulatory frameworks in Asia-Pacific countries and the relationship between AI regulation and personal information protection.

The presentations were followed by an engaging panel discussion moderated by Park Kwang Bae, an attorney at Lee & Ko, and Josh Lee Kok Thong from FPF. The panelists shared valuable opinions and insights on the topic.

In response to the various legal challenges brought about by AI, Lee & Ko recently launched the Tech & AI team, consisting of attorneys and advisors with expertise in IT and data fields, to perform organic collaboration among relevant teams such as the TMT Group and the IP Team. The TMT Group at Lee & Ko is committed to actively responding to the related legal demands with its top-notch professionals.
 

On April 26, 2024, Lee & Ko jointly held the seminar titled ‘Response & Strategies for Trade Secret Disputes and Technology Theft’ with a globally renowned U.S. law firm Gibson, Dunn & Crutcher LLP. In this Seminar, experts from both firms provided practical guidelines for in-house counsels on how a company can properly handle trade secrets and prevent technology theft. In the first session, Ms. Nicole (JungEun) Lee of Gibson Dunn presented on topics related to managing trade secrets and preventing misappropriation (titled U.S. Trade Secrets Litigation Updates and Takeaways for In-house Professionals) and Ms. Angelique Kaounis of Gibson Dunn answered questions afterward. In the second session, Mr. Heon Lee and Mr. Hong Seon Kim of Lee & Ko presented on latest trends in trade secret misappropriation suit decisions and response strategies for in-house counsels. 

Lee & Ko IP Group boasts over 120 professionals with expertise in various aspects of IP. In particular, former IP High Court judges and IPTAB examiners can provide invaluable advice to stakeholders, and most of the Group’s professionals has advanced degrees in science and technology to provide the most effective and prompt legal services in global IP disputes and advisory works alike.