“One-stop entry into the U.S. and investment in Korea”… Daeryun-SJKP strengthens two-way cross-border cooperation

Daeryun Law Firm announced on the 20th that, as the advancement of domestic companies into the global market has recently become more active, it will strengthen the integrated advisory system that encompasses the advancement of domestic companies into the United States and the settlement of foreign companies in the Korean market together with SJKP, a local corporation in New York.

In line with the global expansion of domestic companies, the influx of American companies seeking to use the Korean market as a test bed is also steadily increasing. As cross-border expansion between the two countries becomes more active, the importance of ‘cross-border risk management’ is also increasing.

According to the Ministry of SMEs and Startups and the Ministry of Trade, Industry and Energy, as of 2024, Korean small and medium-sized enterprises' exports to the United States increased by $1.88 billion compared to the previous year. Direct investment (FDI) by U.S. companies in Korea also reached $5.24 billion, showing active two-way exchange.

However, during the entry process, companies face complex legal and institutional differences, such as U.S. employment and environmental regulations that differ by state, Korea's unique serious accident punishment law, and fair trade regulations. In particular, small and medium-sized companies that have difficulty establishing a systematic in-house legal system often face difficulties in responding to these risks.

Considering these market demands, Daeryun provides integrated advisory services together with SJKP, a local corporation in New York. First, we support corporate establishment and M&A, local labor law and tax risk checks, and core technology protection so that domestic companies can stably take root in the U.S. market.

In the process of localizing American companies to the Korean market, an 'inbound customized package' is operated, including review of tax reduction benefits related to foreign investment, establishment of a personnel and labor system optimized for domestic laws, review of business combinations, and response to fair trade risks.

The plan is to manage the legal and logistics risks experienced by companies in both countries by combining practical customs solutions such as customs screening and origin verification that occur during import and export customs clearance.

Related practical advice is provided by experts with diverse field experience in each field. Kyeong-won Yoon, head of the corporate legal group, who is a former chief prosecutor and is well-versed in all aspects of domestic and international corporate law, including serving as a legal affairs officer at an embassy, ​​and Jong-soo Shin, a former partner attorney at Kim & Chang Law Firm, will support M&A and tax strategies.

Attorney Gye-jun Son, a former secretary of the Fair Trade Commission, provides advice on regulatory response, and customs experts Jae-ho Myung and Dae-ryun Kim support trade and customs clearance practices.

The local response in the U.S. and coordination between the two countries will be handled by Daeryun's foreign lawyers and lawyers from SJKP. Foreign attorney Dong-Hoo Son (USA), who has experience advising bio companies entering the market, Mia Kim (USA), who is in charge of English contract practice, and Won Yeon Won and Joon-Yong Ahn (USA), foreign lawyers in the field of international arbitration and M&A, will collaborate closely.

At SJKP in New York, Bryce S. Robins, a former U.S. local prosecutor, James Meaney, a litigation expert, and Joseph A. Raia, an attorney with financial know-how, will assist domestic companies in settling into the U.S. market.

Daeryun CEO Kim Kook-il said, "For a successful global business, not only product power but also thorough risk management based on the laws of each country must be supported. By combining the internal infrastructure of Daeryun Corporate Legal Group and the local expertise of New York SJKP, we will play the role of a legal assistant to help companies from both countries enter the market stably."

Eunhye Lee (zhses3@joseilbo.com)

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Josei Ilbo - "One-stop entry into the U.S. and investment in Korea"... Daeryun-SJKP strengthens two-way cross-border assistance (link)
Lawleader - ‘One-stop’ for entry into the US and investment in Korea...Daeryun-SJKP strengthens two-way cross-border assistance (link)