Daeryun Law Firm successfully completes ‘strategy seminar’ for companies entering China and Vietnam

Daeryun Law Firm announced on the 12th that it successfully completed the ‘Legal Dispute Response and Investment Strategy Seminar for Companies Doing Business in China and Vietnam’.

This seminar was prepared to explore preemptive response strategies for Korean companies to the rapidly changing business environment in China and the Vietnamese market, a key point in the global supply chain, and was jointly held by Daeryun and the Korea-China Association on the 11th at the FKI Tower Conference Center in Yeouido, Seoul.

Attending the seminar were executives from traditional industries such as manufacturing and construction, as well as various industries preparing to target the local domestic market, such as distribution, healthcare, and beauty. In particular, participants who wanted to explore local M&A and new business opportunities beyond simple production base relocation showed great interest.

The seminar was divided into two sessions. Attorney Kyung-won Yoon, who was the first presenter in the first China session, introduced in detail risks in each field such as contracts, intellectual property rights, labor, and investment recovery under the topic of ‘Types of legal disputes and points to keep in mind when entering China.’

Attorney Yoon emphasized, “In Chinese business, prior review of contracts is the first step in preventing disputes.” He emphasized, "Clarify the provisions for resolving disputes with local partners. Preemptive registration and monitoring are essential for intellectual property rights issues such as trademark infringement."

Regarding China's recently strengthened data protection laws, he advised, "Special attention must be paid to compliance, such as safety evaluation of data transfer abroad."

Next, Park Seung-chan, Chairman of the Korea-China Association and Director of the China Management Research Institute, gave a presentation on the topic of ‘Recent Korea-China Summit and Korean Companies’ Response.’ Chairman Park analyzed, “Korea-China economic relations have gone beyond simple mutual complementation and have entered the ‘5.0 era’ of full competition and horizontal cooperation. As China’s technological independence and supply chain internalization accelerate, our companies must read the trend of supply chain reorganization and establish more sophisticated localization strategies.”

In Part 2 of the Vietnam session, attorney Youngjin Choi and Daeryun explained ‘Types of legal disputes and points to keep in mind when entering Vietnam.’ Attorney Choi compared the pros and cons of establishing a new corporation, joint venture, and M&A as methods for entering Vietnam. He explained, “M&A allows for quick market entry, but there is a risk of inheriting hidden risks such as tax and land use rights of the acquired company. Statement guarantees and contingent liability compensation structures through acquisition contracts, etc. are essential.” He then emphasized, “Borrowing in the name of local people should be avoided as it is difficult to be legally protected and may lead to loss of management rights.”

Choi Ho-cheol, PM of the Korea Trade-Investment Promotion Agency (KOTRA), gave a presentation on the topic of ‘Vietnam Investment Advancement Support Project, Success Stories, and Investment Opportunities.’ PM Choi said, “Vietnam is going beyond a production base and is transforming into a huge consumer market with a population of 100 million people.” He added, “The M&A strategy that goes beyond simple manufacturing and targets domestic markets such as distribution, consumer goods, and healthcare is effective.”

CEO Daeryun Kim Kook-il said, “I hope this seminar will serve as an opportunity for our companies to find practical solutions in an increasingly complex global trade environment.” He added, “We will continue to provide close support to companies throughout the entire overseas expansion process, from local legal risk diagnosis to M&A and dispute resolution through the China and Vietnam groups.”

Reporter Jeong Cheol-wook

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Seoul Newspaper - Daeryun Law Firm successfully completes ‘strategy seminar’ for companies entering China and Vietnam (Go here)
Sejeong Ilbo - Daeryun Law Firm's ‘Strategy Seminar’ for companies entering China and Vietnam was a success (Go here)