Bills to amend the Criminal Code (which includes the proposed provision on punitive damages against companies) and to enact the Class Action Act have recently been submitted to the National Assembly, and interest in and concerns of the bills are growing among companies in Korea as it becomes more likely for them to pass.  As a result, Barun Law LLC created the “Punitive Damages and Class Actions against Companies Response Team” seeking to allay the fears of companies and to assist them in making necessary preparations.

Barun Law LLC is known for its prowess in the area of litigation and the response team is made up of the firm’s finest members who are experts in litigation. The team is led by Managing Partner SUK Ho Chul, former Research Judge of the Supreme Court of Korea, Director of Personnel Affairs of the National Court Administration of the Supreme Court of Korea, and Senior Judge of Seoul High Court (vice-minister level position), and supported by a number of renowned attorneys, including Attorney NOH Man Kyeoung, former Senior Judge of Seoul Central District Court, Attorney KIM Do Hyung, former director of Korean Securities Law Association and member of the Legislation Evaluation Committee of the Korean Bar Association, Attorney PARK Sung Ho, former senior judge, Attorney LEE Bong Sun, who is also a member of the New York Bar, and Attorney PARK Sang Oh.

The response team is committed to assisting companies not only in dealing with the amended Commercial Code and class action lawsuits, but also in analyzing and summarizing all types of business-related laws/regulations and conducting studies and research on corporate response measures, all of which can be burdensome for companies to conduct on their own concurrently with their business activities. Furthermore, Barun Law will strive to provide all-inclusive responsive measures, spanning from consultancy services, by way of inspecting compliance programs and providing opinion on improvements, to litigation-related services.

- Commercial Code Amendment Bill (Punitive Damages)

- Class Action Act Enactment Bill