On October 24, Kim & Chang and Al Tamimi & Company co-hosted a seminar titled “Roadmap to Success: Legal Guide for Entering the Middle Eastern Market.” With Jae Ha Kwon of Kim & Chang overseeing the proceedings, the seminar delved into key legal considerations for businesses entering the Middle East, with a particular focus on Saudi Arabia.

Byung-Woo Im of Kim & Chang delivered the opening remarks, setting the stage for the informative sessions that followed.

Session One focused on setting up a business, with Don Jeon of Kim & Chang discussing the legal requirements for incorporation and liquidation processes. Mr. Jeon shared practical tips, including the types of licenses issued by the Ministry of Investment of Saudi Arabia (“MISA”), establishing a Regional HQ and the Saudization requirement.

Session Two centered on the commercial agency law and distributorship agreements. Dami Park of Kim & Chang explored key issues such as exclusivity, compensation and geopolitical risks in distributorship agreements.

Session Three delved into joint venture (“JV”) agreements and potential dispute resolutions. Sun Yul Lee of Kim & Chang discussed JV governance, transfer restrictions and non-compete clauses in M&A transactions.

The seminar concluded with a Q&A session. Kim & Chang plans to continue hosting informative seminars to assist companies in their international endeavors.