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On 11th December 2017, Lifang & Partners held a seminar on Investment in South Korea. Guest speakers included Yu Chea-Ho, Department Manager, Shim Gyuhong, Team Manager, and Kim Jooyoung, Project Manager, all of the Chungbuk Free Economic Zone (CBfez) Authority, South Korea. More than 20 participants attended this meeting.
Mr. Han Linghu, Partner and Chinese legal counsel for the CBfez Authority, gave a keynote speech on the overall legal environment for foreign capital invested in South Korea. Mr. Han’s speech focused on the types of and processes for investments in CBfez and how they interacted with Chinese regulations on the approval and filing of outbound investments by Chinese entities. Detailed explanations were given for issues such as labour disputes, IP protection, and dispute resolution - which are all factors that weigh heavily on the minds of Chinese investors.
Mr. Yu Chea-Ho gave a detailed introduction to the CBfez, ranging from its ideal geographical location, convenient transportation system, good schools, modern healthcare facilities, and efficient infrastructure, to its key industries, and preferential tax policies.
Mr. Yu answered several questions from enthusiastic Chinese investors during the Q&A session. They were all eager to learn more about CBfez. Mr. Yu answered all of their questions and the seminar aroused much interest from potential Chinese investors.
China and the Republic of Korea are close neighbours who share a similar cultural and historical background, along with a significant amount of bilateral trade. We have an office in Seoul and we are able to offer professional consulting to clients from both countries.
Located in the centre of the country, CBfez has geographical benefits that have allowed it to become a powerhouse of economic development and an emerging business district around Seoul. CBfez was established by the government to improve living standards and attracting foreign investment. There, investors can enjoy an ideal business environment with generous tax preferences and subsidies.
Mr. Han Linghu is the first Chinese Foreign Legal Consultant to be certified by the South Korean Ministry of Justice. Under the terms of the Foreign Legal Consultant Act, the certification process requires lawyers to seek approval from the South Korean Minister of Justice and to register with the Korean Bar Association. Approval and registration may only take place after a person has gained over 3 years of experience in providing legal services for the jurisdiction where they have a bar certificate. As the head of Lifang & Partners Seoul office, Mr. Han is more than happy to deliver consulting services for businesses investing in South Korea.
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