International Finance in Korea

International Finance in Korea is a practical guide for foreigners about the Korean financial system and the Korean law on international finance. The author, former General Counsel of Asian Development Bank, has extensive experience in international finance and legal writing. The first chapter of the book reviews the Korean legal system and the Korean governmental structures.

The second and third chapters of the book examine relevant provisions in the Civil Code and the Commercial Code of Korea, the two primary basic laws on civil and commercial matters. The fourth chapter of the book takes up the Korean financial system and elaborates on the business scopes and functions of different financial institutions in Korea and their inter-relationships.

The fifth chapter of the book addresses major international finance-related transactions in relation to Korean law including participation, financial derivatives transactions, infrastructure financing, aircraft financing, foreign investment, disclosure of securities ownership, public offering of securities, tender offer, securities lending, marketing and sale of foreign securities to Korean residents, prohibited securities trading activities, bills of exchange and promissory notes.

The remaining chapters discuss other subject matters of relevance to international finance such as foreign exchange regulations, insolvency proceedings, enforcement of rights, conflict of laws, taxation, and legal opinions. The foreign exchange regulations of Korea affect all cross-border transactions and, therefore, must be dealt with adequately in any transactions between foreign parties and Korean parties.

Insolvency laws have become increasingly important for the sufficient protection of credit-providing institutions.