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Korea Investment

South Korea’s meteoric rise into an economic power and one of Asia’s premium developed nations is one built on the hard work, dedication and determination that has become emblematic of the country’s business culture.

The country’s businesses, led by mega-conglomerates known as chaebols, are now household names globally. From ships and cars to TVs and smartphones, Korean brands have managed to earn people’s trust at home and abroad.

The global nature of Korean businesses, be it Samsung, LG, Hyundai, SK Group or Lotte, makes them some of the most sought-after investors. Countries are keen on attracting their capital and expertise, and their ability to build high-tech products that are both popular and of best quality.

Asia, North America and Europe accounted for 34.1%, 22.8%, and 23.5% of Korean outward foreign direct investment (FDI), respectively, in 2018, according to South Korean government data, while the US, China and Vietnam accounted for 28.1%, 12.4% and 8.2% of Korean FDI, respectively, by country.

The manufacturing sector was the nation’s largest, accounting for 32.3% of Korean total outward FDI in 2018. Financial services and insurance, mining and quarrying, and wholesale and retail trade sectors accounted for 18%, 14.3%, and 11.6%, respectively, in the same period.

KICA
Chae Jooyup Senior Vice President of KICA, General Counsel and VP of SK Biopharmaceuticals, International Arbitrator, KCAB International

Chae Jooyup
Senior Vice President of KICA,
General Counsel and VP of SK Biopharmaceuticals,
International Arbitrator at the KCAB International

Korea’s global outreach

As many economies start to reopen, South Korean companies are racing to expand their global outreach. According to figures released by the country’s Ministry of Trade, Industry and Energy, exports have jumped 39.7% year-on-year in June, reaching the third-largest value on record, at USD54.8 billion. It also showed that exports in May surged 45.6% on the previous year, the sharpest expansion in 32 years, with semiconductors and vehicles making the top products and signalling a robust demand globally.

In May, the government unveiled an ambitious plan to spend USD450 billion to establish the world’s largest semiconductor supply chain by 2030, joining a global competition to dominate in this key technology.. … (Read more)

korea investment guide

Tax planning strategies for South Korean investors

Globalisation seems like a clichéd term that has been around for some time. However, it is still very much alive because it is a phenomenon that continues to evolve. Whether companies have already made investments or are making new investments abroad, tax laws are constantly changing in response to the evolving practices of globalisation. (Read more)

Shin & Kim
Kim Sunyoung (Sunny), Senior foreign attorney, Tel-+82 2 316 4655, Email-syokim@shinkim.com

Kim Sunyoung (Sunny)
Senior foreign attorney
Shin & Kim

Kim Minhyung (Michelle), Foreign attorney, Tel-+82 2 316 7283, Email-mhkim@shinkim.com

Kim Minhyung (Michelle)
Foreign attorney
Shin & Kim

korea investment guide

Indian investment opportunities for South Korean businesses

The progression of foreign investment in India has made it a quintessential place for foreign investors, made possible largely due to investor-friendly regulatory reforms, availability of low-cost skilled labour and vast expanse of opportunities in the Indian market. South Korea has emerged as one of the largest contributors of foreign direct investment (FDI) in India.(Read more)

Induslaw
Gaurav Dani, Founding and Senior Partner, Email-prachi.bhardwaj@induslaw.com

Gaurav Dani
Founding and Senior Partner
IndusLaw

Saurav Kumar, Partner, Email-Saurav.kumar@induslaw.com

Saurav Kumar
Partner
IndusLaw

korea investment guide

The disputes landscape for foreign investors in India

India has a robust legal system where commercial disputes are generally settled by litigation before the courts, or through arbitration. What are the common areas of dispute and non-compliance that any South Korean investor should be aware of when planning to invest in the country, and what remedial action is available within the legal framework? (Read more)

LexOrbis
Atul Pandey, Partner, Khaitan & Co in New Delhi, Email-atul.pandey@khaitanco.com

Atul Pandey
Partner
Khaitan & Co

Ravitej Chilumuri, Partner, Khaitan & Co in Mumbai, Email-ravitej.chilumuri@khaitanco.com

Ravitej Chilumuri
Partner
Khaitan & Co

korea investment guide

Investment rules, agencies and dispute resolution in Nigeria

Nigeria is among the most promising areas of growth in Africa and attracts numerous investors in the hydrocarbons, shipping, energy, mining, agro-allied, manufacturing and infrastructure sectors. It is a federation of 36 states and one federal capital territory. Each of the states is a semi-autonomous political unit that shares power and foreign direct investment (FDI) .(Read more)

FO Akinrele
Adedolapo Akinrele, Partner, Tel-+234 813 474 2333, Email-dolapo_akinrele@foakinrele.com

Adedolapo Akinrele
Partner
FO Akinrele & Co

Adewale Sontan, Associate, Tel-+2341 4630 4702, Email-adewale_sontan@foakinrele.com

Adewale Sontan
Associate
FO Akinrele & Co

Abraham Otene, Associate, Tel-+2341 4630 4702, Email-abraham_otene@foakinrele.com

Abraham Otene
Associate
FO Akinrele & Co

korea investment guide

Brief guide to FDI in the Philippines

Bangko Sentral ng Pilipinas, the central bank of the Philippines, recently reported that foreign direct investment (FDI) in the country increased by 41.5% in January 2021 to USD961 million from USD679 million in January 2020. A 116% surge in FDI net inflows stemmed mainly from foreign companies’ loans to local affiliates … (Read more)

V&A Law
Raoul Angangco, Senior Partner, Email-rr.angangco@thefirmva.com

Raoul Angangco
Senior Partner
Villaraza & Angangco

Sylvette Tankiang, Partner and Chief Financial Officer, Email-sy.tankiang@thefirmva.com

Sylvette Tankiang
Partner and Chief Financial Officer
Villaraza & Angangco

Franchette Acosta, Senior Partner, Email-fm.acosta@thefirmva.com

Franchette Acosta
Senior Partner
Villaraza & Angangco

korea investment guide

Foreign investment-friendly IP regime in Taiwan

Taiwan is an important R&D centre in Asia and plays a key role in the global supply chain. When considering an investment in the jurisdiction, IP is a crucial intangible asset for which advanced planning is necessary. The major laws in the IP field include the Patent Act, the Trademark Act, the Copyright Act, and the Trade Secrets Act … (Read more)

Formosa Transnational
Jane Wang, Partner, Email-jane.wang@taiwanlaw.com

Jane Wang
Partner
Formosa Transnational

Brian Hsieh, Partner, Email-brian.hsieh@taiwanlaw.com

Brian Hsieh
Partner
Formosa Transnational

Monica Wang, Partner, Email-monica.wang@taiwanlaw.com

Monica Wang
Partner
Formosa Transnational

korea investment guide

Overview of arbitration and dispute resolution in Taiwan

At first blush, the mechanisms in place for dispute resolution in Taiwan – including arbitration, mediation and litigation – are not so different from those in place in other civil law jurisdictions. However, some practices in Taiwan do deviate, so local nuances should be noted and considered. …(Read more)

K&L Gates
Huang Shilin, Partner, Tel-+886 2 2326 5123, Email-shilin.huang@klgates.com

Huang Shilin
Partner
K&L Gates

korea investment guide

Investment incentives and setting up business in Taiwan

Interactions between South Korea and Taiwan have become increasingly close, particularly in terms of trade. With total trade of USD36 billion in 2020, South Korea was Taiwan’s fifth-biggest partner, according to Taiwan Bureau of Foreign Trade data. Likewise, Korean customs data shows Taiwan was also South Korea’s fifth-biggest partner.(Read more)

RT-Asia-Thailand
Robin Chang, Partner, Tel-+886 2 2763 8000 ext. 2208, Email-robinchang@leeandli.com

Robin Chang
Partner
Lee and Li

Matt Lai, Associate partner, Tel-+886 2 2763 8000 ext. 2113, Email-mattlai@leeandli.com

Matt Lai
Associate Partner
Lee and Li

Lu Jialin, Attorney, Tel-+886 2 2763 8000 ext. 2461, Email-jialinlu@leeandli.com

Lu Jialin
Attorney
Lee and Li

korea investment guide

Regulatory overview for companies doing business in Thailand

South Korea was the biggest foreign investor into Thailand in the first quarter of 2021, accounting for more than THB10 billion (USD314 million) or 17% of total foreign investment in the country, according to Thai government data. While this ranking might prove temporary, it illustrates that South Korean companies see Thailand as an attractive destination to set up businesses.(Read more)

Warot
Warot Wanakankowit, Partner, Tel-+66 81 802 5698, Email-warot@warotadvisoryservices.com

Warot Wanakankowit
Partner
Warot Advisory Services

korea investment guide

Investment protection strategy post-FTAs in Vietnam

When investing in Vietnam, there are many things that South Korean investors take into consideration such as cheap and educated labour, the domestic market and benefits under international trade agreements. In this regard, it seems the investment protection mechanism provided to investors under various investment protection agreements (IPAs) is easily overlooked.(Read more)

VCI Legal
Phung Anh Tuan, Managing Partner and CEO, Tel-+84 28 38 272 029, Email-tuanphung@vci-legal.com

Phung Anh Tuan
Managing Partner and CEO
VCI Legal

David Seungmok Oh, Special Counsel, Tel-+84 28 38 272 029, Email-davidoh@vci-legal.com

David Seungmok Oh
Special Counsel
VCI Legal

Nguyen Hai, Associate, Tel-+84 24 39 364 985, Email-hainguyen@vci-legal.com

Nguyen Hai
Associate
VCI Legal