Daeryun & SJKP Join Hands with Omani Law Firm to Tap the Middle East Legal Market

MOU with MAQ Legal…Supporting Korean companies' entry into the GCC in energy, infrastructure, and more

Amid growing entry and investment by Korean companies into the Middle East, Daeryun Law Firm and its U.S. partner firm SJKP have established a cooperative relationship with a local Omani law firm. They are strengthening the legal support needed for Korean companies' entry into Oman and the Gulf Cooperation Council (GCC) region, centered on energy and infrastructure.

Daeryun Law Firm announced on the 31st that SJKP had signed a strategic memorandum of understanding (MOU) with Al Maamary, Al Abri & Co. (MAQ Legal), an Omani law firm specializing in corporate law and projects.

MAQ Legal is a law firm based in Oman that operates in the fields of corporate law and projects. It has experience providing legal services for power plants and desalination and infrastructure projects of Korean companies such as Hyundai Group, Doosan Enerbility, GS E&C, and Korea Western Power.

Under this agreement, the two sides will broaden the scope of cooperation from traditional energy such as LNG (liquefied natural gas) and crude oil to renewable energy, green hydrogen, logistics, and information and communications technology (ICT).

The specific areas of cooperation include cross-border investment and foreign direct investment (FDI), cross-border mergers and acquisitions (M&A) and joint ventures (JV), and corporate establishment and the building of local business structures. They will also jointly provide the legal advice needed for energy, oil, and gas projects and for renewable energy, infrastructure, and construction projects.

They will also cooperate in finance and project financing (PF), local regulation and compliance, and international arbitration and inter-state dispute response. The two firms plan to connect clients with each other and, where necessary, jointly provide legal services.

They will also expand the provision of information to companies. For Korean companies, they will provide joint seminars and content introducing Oman's investment environment, energy and infrastructure projects, and local regulations. They will also jointly support the legal services needed for Middle Eastern companies to enter the Korean and U.S. markets.

Kim Gukil, CEO of Daeryun, said, "In Middle East business, accurately grasping local systems and regulations and proactively managing risks determines success or failure," adding, "This agreement enables us to provide advanced global legal solutions to Korean companies pursuing entry into Oman and the Middle East region."

SJKP, established in New York, U.S., last year, has been expanding the scope of its cooperation with overseas law firms and consulting companies, centered on international disputes, investment, and taxation. Daeryun plans to leverage its overseas network, including SJKP, to expand legal support for Korean companies' overseas business.

Reporter Hwang Jeongwon (garden@sidae.com)

[Read the Full Article]
Daeryun & SJKP Join Hands with Omani Law Firm to Tap the Middle East Legal Market (Go)