Specializing in Legal Issues in Civil Engineering and Construction
Accepting Bitcoin as Legal Fees
"Legal services for small and medium-sized construction companies are not just simple consultations. The core is to provide practical solutions."
Jung Su-geun (57, Judicial Research and Training Institute Class 31), the representative lawyer of Law Firm Seonbaek, explained Seonbaek's differentiated competitiveness in this way.
Seonbaek is a unique law firm mainly composed of lawyers who have served as legal directors and team leaders at large construction companies such as GS Construction and Doosan Group. The members of Seonbaek have extensive experience directly performing various civil engineering and construction projects, including civil engineering works, plant construction, housing construction, redevelopment and reconstruction projects, private investment projects, and housing association projects. Based on this, they specialize in presenting solutions that realistically and practically resolve the legal issues faced by clients. Representative Jung said, "Thanks to my experience working at construction companies, I can quickly understand what the client wants," adding, "Many industry insiders say that it is easier to talk with us than with other lawyers, and this is the reason."
Seonbaek also shows strengths in cases requiring technical analysis, such as lawsuits for increased construction costs due to design changes or extension of construction periods, based on abundant practical experience. They collaborate with Geonyeong Engineering Group throughout the entire appraisal process to conduct technical analysis and respond accordingly.
After the enforcement of the Serious Accidents Punishment Act and the Industrial Safety and Health Act, the corporate environment has rapidly changed, and Seonbaek has also focused on advising clients to minimize and prevent risks. Representative Jung said, "Previously, the site manager was held responsible, but now management executives are also subject to criminal punishment," adding, "Companies must establish and practically operate safety and health management systems and leave evidence of this, so Seonbaek actively supports companies in building and inspecting compliance systems for proactive responses."
Seonbaek has established a collaborative system with Shinhan Accounting Corporation, Taxseyeon, Geonyeong Engineering Group, and Labor Law Firm Reason to provide one-stop legal services including tax, accounting, labor, and technical analysis. During civil litigation, they found key evidence in the opponent’s tax documents through Taxseyeon’s analysis in the evidence application process, and in cases involving violations of the Industrial Safety and Health Act and lawsuits for invalid dismissal, they collaborated with Labor Law Firm Reason to lead the cases favorably.
In 2022, Seonbaek took on civil and criminal cases related to cryptocurrency investment fraud and, after consultation with clients, made a new attempt to receive fees in Bitcoin and Ethereum. Representative Jung said, "At that time, we received fees in cryptocurrency, and given the current high market volatility of cryptocurrencies, we are managing them cautiously," adding, "Legal services utilizing cryptocurrencies are expected to continue to be discussed."
Seonbaek has traded some of the cryptocurrencies held in its corporate account. They sold part of their Bitcoin and purchased altcoins, still holding cryptocurrencies under the corporate name. However, since law firms cannot yet liquidate cryptocurrencies they hold, they are keeping them as is. Seonbaek plans to strengthen its expertise in providing legal services related to virtual assets and blockchain in addition to construction-related consultation and litigation.
Startup-related consultation is also a focus area for Seonbaek. Representative Jung said, "If startups do not clarify their governance structure early on, there is a risk that the founder’s management rights will weaken during subsequent investment rounds," adding, "Many suffer significant losses due to a lack of internal control systems during business operations." He said, "Lawyers with experience in large corporate legal departments help design governance structures and establish internal control systems tailored to each startup."
Representative Jung said, "Just as not everyone shops at department stores, Seonbaek wants to provide practical help to clients in a way differentiated from large law firms," adding, "Becoming a 'local convenience store' type of law firm is what Seonbaek aims for."
Lee Jin-young, Legal Times Reporter
※This article is based on content supplied by Law Times.
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