Korea Update: Summary of President-Elect Yoon’s Policy Pledge & Impacts on Industries

Shortly after his election, Seok Yeol YOON, the 20th president-elect, emphasized that the “private sector” is key value of the new administration, signaling a major policy change in many areas.  

Mr. Yoon will not be able to begin his presidency with his party as the majority of the Congress, which will be an obstacle until Mr. Yoon’s pledges are realized. However, the pledges that were mutually committed by both parties during the presidential election are expected to be feasible. In this special report, Yulchon selected and summarized the President-elect Yoon’s policy pledges that were closely related to corporate management of foreign clients and multinational companies in Korea and analyzed their implication and business impact. 

Separate from this report, on March 16, 2022, Yulchon successfully held a webinar “Changes in Policy Direction Following the Launch of the New Government and Countermeasures for Enterprises.” In the webinar, Yulchon professionals with specialty in several industry fields introduced Yoon’s policy pledges in the respective area with analysis of legal and practical issues involved while suggesting effective strategies in anticipation of the changing policy direction. The areas covered in the webinar included (1) Finance and New Digital Businesses, (2) Fair Competition for the Digital Economy, (3) ICT, Media, and Content, (4) Environment and Energy, (5) Real Estate Development and Taxation, and (6) Labor and Severe Accidents. Replay of the webinar can be watched in the following link: https://youtu.be/E1-FKh5Omck (This video is only provided in Korean) 

By Yulchon, Korea, a Transatlantic Law International Affiliated Firm. 

For further information or for any assistance please contact korea@transatlanticlaw.com 

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