During the internship I worked mainly for three organizations. The main work I did was Korean law research. The main reason is because I am Korean; secondly, the relationship between Korea and Mongolia is close, thus there are frequent legal disputes between two countries; and thirdly, because Korea and Mongolia have similar legal system, thus it is good to use these legal systems for comparative research.
At NLI I worked for the team doing comparative study about regulations of financial institutions and private loan businesses. In particular, the team was interested in how Korea regulates bank loans and private loan businesses such as pawn shops and small credit companies. Annual interest rates in Mongolian pawnshops are 36-40% while commercial banks provide 21-23% of interest rates. However, many people use pawnshops in Mongolia.
I also researched the provisions for the postponement of a trial, especially in the civil procedures of Russia and Germany. What I learned from my internship at “Insto Lex” is that postponement is being used too frequently. It is possible to postpone a trial without just cause. The reason of necessity to review materials is enough to postpone a trial, thus lawyers use it sometimes, for strategic reasons, and sometimes, only because of the lawyer’s work schedule. Therefore, even if a date of a court hearing is set, it is difficult to expect an attitude to strictly observe it, and it is required to solve such a problem.
My other work is confidential, but it was incredibly rewarding.