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Legal Warning

5 November 2014 - 6:19pm

What do the following scenarios have in common?

A Korean subsidiary of a foreign telecommunications company receives faulty equipment from a customer in Korea. It sends the faulty equipment to its repair facility in Japan to be repaired and then returned to the customer in Korea. The company fails to report the shipping of that broken equipment to any Korean government authorities.

Another Korean subsidiary conducts a variety of business transactions with its foreign parent company and sister company. No cash is exchanged. The companies set off their payables and receivables...

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