As uncertainty continues to grow surrounding the coronavirus outbreak, it affects employment and the world economy. Many factories have been closed, and operations have been downsized as a result of COVID-19. The attached article addresses issues about whether or not the noncompete agreement entered by employers and employees is still enforceable in Korea, especially when employees have been laid off because of downsizing in this period of uncertainty.
If you are (i) a foreign worker in Korea who signed a noncompete agreement or (ii) a foreign employer who wishes to enforce the noncompete agreement even after laying off your employees in Korea, please check if the noncompete agreement is still enforceable and under what circumstances it will be voidable. The attached article provides a tip on interpreting the validity of the noncompete agreement during the period of COVID-19 in Korea.
If you have any questions or need further information on these matters, please feel free to contact us at inquiry@dowoolaw.com or call +82.2.6207.1114.