Financial Crime World

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Asset Recovery and Mutual Legal Assistance in the Republic of Korea

Mutual legal assistance (MLA) may not be provided in certain cases, including:

  • Where the offense is not punishable under Korean laws
  • Where the offense is still being tried or has already been decided, and the property requested for MLA has been ordered to be preserved for confiscation or collection
  • Where the property relevant to the request cannot be subject to legal proceedings or preservation for confiscation/collection
  • Where a third party with legitimate rights over the property was not able to claim their rights during court proceedings

MLA in corruption crimes may not be provided in cases where:

  • The act involved in the offense was committed in Korea and does not constitute a corruption offense under Korean laws
  • The requesting state has not made a guaranty to accept and respond to a request for cooperation of the same kind if Korea makes such a request
  • The requesting state has not made a guaranty that the property subject to execution will be conveyed to the original owner or any other person with legitimate rights

Disposal/Return of Assets

Assets may be returned based on the Act on International Mutual Legal Assistance in Criminal Matters or bilateral treaties. The properties shall be disposed or returned in accordance with the request or agreement between Korea and the requesting state.

Asset Recovery Agencies

If you need assistance with asset recovery, you can contact the following agencies:

International Criminal Affairs Division, Ministry of Justice

Criminal Proceeds Confiscation Center, Supreme Prosecutors’ Office

Note: The above agencies are subject to change, and it’s always best to verify the contact information before reaching out.