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ECCK Compliance Forum
On January 14, the members of ECCK’s Compliance Forum met with expert counsel of Shin & Kim to kick-off 2016. Given the generosity that is often found during the Lunar New Year period, the meeting revolved around how to keep compliance issues at bay when sponsoring, donating or handing out gifts.
While these acts are generally well-intended, there are various restrictions imposed by, for example, the Public Official’s Code of Conduct and the Korean Criminal Code. A couple important points to note: First, there is no clear monetary threshold for an action to be deemed criminal bribery; second, both providers and receivers are subject to criminal sanctions in case of bribery.
ECCK Compliance Forum
On January 14, the members of ECCK’s Compliance Forum met with expert counsel of Shin & Kim to kick-off 2016. Given the generosity that is often found during the Lunar New Year period, the meeting revolved around how to keep compliance issues at bay when sponsoring, donating or handing out gifts.
While these acts are generally well-intended, there are various restrictions imposed by, for example, the Public Official’s Code of Conduct and the Korean Criminal Code. A couple important points to note: First, there is no clear monetary threshold for an action to be deemed criminal bribery; second, both providers and receivers are subject to criminal sanctions in case of bribery.