SOUTH KOREA Law and Practice Contributed by: Jin Yeong Chung, Inhak Lee and Seung Hyeon Lee, Kim & Chang
14.2 Growth Areas With the rise of private placement funds, the authors are seeing a dramatic increase in corpo- rate management and control disputes. In 2024, there was about a 50% increase in such dis- putes involving domestic companies since 2023. Given that many domestic companies share a similar corporate structure and face similar risks associated with the succession of management rights, the authors expect the number of these disputes to continue to rise for the foreseeable future. Meanwhile, in the wake of several landmark decisions by the Supreme Court in the field of labour law, the authors are seeing a higher num- ber of lawsuits related to ordinary wages, bonus- es and subcontracted employees. Further, the recent introduction of the 52-hour work per week requirement, and the strengthened enforcement of the Serious Accident Prevention Act, have led to the filing of a high number of related lawsuits. In fact, the authors are seeing a higher num- ber of investigations by the Police, the Labour Commission and the Prosecutor’s Office under the Serous Accident Prevention Act to assess whether senior management should be held criminally liable for injuries or deaths resulting from serious accidents.
Finally, there has been an increase in the number of criminal and civil proceedings in the field of privacy law, stemming from unauthorised dis- closures of personal data due to hacking and/or breakdowns in cybersecurity.
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