On December 28, 2017, the Minister of the Office of Policy Coordination announced at a press conference that the government will instruct banks to cease opening new “virtual bank accounts” (gasang gyeja in Korean) for cryptocurrency exchanges---such accounts allow buyers and sellers on cryptocurrency exchanges to send or receive funds.
SEUM advised retail tech company ZOYI Corporation, a Korean startup that develops technology to improve the shopping experience of online and offline commerce, with respect to its Series B funding round that raised 450 million yen (about USD $4 million) from both Korean and international venture capital funds such as Global Brain, Colopl Next and others.
SEUM represented a group of private investors in connection with an investment in a structured vehicle based in Singapore that will invest in digital tokens, digital coins and cryptocurrencies. With the current growing interest in cryptocurrency and blockchain technology, investors increasingly appear to be seeking opportunities in this evolving area.
What we do
General Corporate Our general corporate team provides clients with the legal services they need to conduct their business operations smoothly, while minimizing risks and complying with Korean law. Our team handles common issues that arise in day-to-day operations such as commercial contracts, intellectual property, real estate and employment issues as well as regulatory issues such as data privacy, fair trade, consumer protection and anti-bribery. The general corporate team also handles deal-based work such as stock acquisitions, business transfers, joint ventures, and venture capital and private equity investments.
Commercial Litigation If our client is unable to resolve a dispute with a counterparty, our commercial litigation team will advise on the remedies available under law and work skillfully and relentlessly to ensure the best outcome if there is litigation. Our litigation team has worked on a wide range of cases for clients including contract disputes, shareholder disputes, and IP litigation. Our team frequently represents clients in government administrative proceedings before agencies such as the tax authority and fair trade commission as well as in white collar criminal defense cases.
Corporate Services Our firm provides incorporation services which covers setup and registration of corporations, LLCs, branch offices and liaison offices. Our corporate services team will also handle registration that is required in cases such as a change of address, change in the board of directors, or issuance of new securities.
More on our services
Deals & Cases >
- SEUM Advises Fluenty on Asset Transfer 2017. 12. 5
- SEUM Advises ZOYI Corporation for Series B Funding 2017. 11. 3
- SEUM Advises on Investment in Overseas Cryptocurrency Vehicle 2017. 10. 27
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