Trade and Investment in North Korea
Our North Korea Investment and Consulting Practice has been developing deep knowledge and experience concerning the North Korean market and investment environment. Based on this extensive knowledge and experience, we are able to provide our clients specific and detailed analysis on the opportunities and risks that should be considered when domestic and overseas companies conduct business in North Korea. Furthermore, we provide advice on Korean laws such as the Inter-Korean Exchange and Cooperation Act and laws applicable to the Gaesung Industrial Complex that apply to trade and investment in North Korea as well as international cooperation for North Korean development project.
Advice on North Korean Laws
One unique aspect about our North Korea Investment and Consulting Practice is its capability to provide comprehensive legal advice on North Korean laws that apply to businesses investing in North Korea, including its foreign investment laws such as accounting, finance, insurance, and tax regulations applicable to business operations as well as permits, licenses, and procedures for incorporation of the Company. As part of such comprehensive legal service, we also interpret and advise on North Korea’s foreign investment laws regarding the Gaesung Industrial Complex, the Mt. Kumgang Special Zone, the Rason Economic and Trade Zone, the Hwanggumphyong and Wihwado Economic Zone and provide advice to businesses considering entry into special economic zones. Furthermore, we provide advice on North Korean laws on specific issues such as copyright law and labor law for foreign-invested enterprises.
Advice on Sanctions Against North Korea
We provide advice on the UN sanctions, US, EU, Japan, Australian, and other bilateral sanctions against North Korea as well as South Korea’s May 24 Measures, the Inter-Korean Exchange and Cooperation Act, and export controls. We provide a priori analysis to prevent risks from potential economic sanctions violations and advise on response measures to suspected violations of such on a post facto basis.
Advice on North Korean Foreign Policy Issues
Our experts in inter-Korean relationships and foreign affairs provide cutting edge advice on inter-Korean relationships, economic cooperation between the two Koreas and negotiations between North Korea and the US for denuclearization of the Korean peninsula and advances in their bilateral relationships. Also, we provide specific strategies and prospect analyses for entry and investment into North Korea amid the ever-changing global situation.
Our North Korea Investment and Consulting Practice provides comprehensive legal service and advise on investment and entry into North Korea for domestic and foreign corporations and financial institutions that seek cooperation and investment into North Korea. Our members have been providing legal advice on a variety of issues surrounding North Korean laws to public institutions, organizations, and academia.
Advice on Domestic Companies
- Advised financial institutions on North Korean legal issues.
- Advised companies on inter-Korean economic cooperation matters.
- Advised financial institutions on sanctions against North Korea by US and EU.
- Advised insurance company on legal issues regarding Gaesung Industrial Complex.
- Advised financial institutions regarding compliance with the US sanctions against North Korea.
- Advised medical foundation on provision of medical aid to North Korea.
- Advised non-profit organization on its humanitarian aid to North Korea.
Advice on Foreign Companies
- Provided advice to Russian company on North Korean and international laws.
- Provided advice to Singaporean company related to UN sanctions on North Korea.