본문
Overview
Inter-Korean interaction is undergoing several ups and downs through the currents of international affairs. Should North Korea’s nuclear issue resolve and the sanctions be lifted, the existing inter-Korean joint projects as well as large-scale economic interactions like international capital investments in the SOC industry, resource development and other new areas are expected to take place.
The area requires not only a thorough understanding and analyses of the laws applicable to economic interaction between the two states, but also an acute insight into the principles and structures that are at play as the Asian socialist regime, namely from China and Vietnam, is integrated into market economy. With extensive advisory experience related to Hyundai Asan Group and the Gaeseong Industrial Complex, Yoon & Yang focuses on reviewing the practical laws related to the economic interaction while making preparations to offer advice to government, companies, and public institutions on large-scale development initiatives that may be imminent. In addition, the Team leverages its deep familiarity of corporate activities in a socialist market economy system accumulated from its work in China and Vietnam to devise nuanced strategies in relation to the open-door policy trend in the North Korean economy.
The area requires not only a thorough understanding and analyses of the laws applicable to economic interaction between the two states, but also an acute insight into the principles and structures that are at play as the Asian socialist regime, namely from China and Vietnam, is integrated into market economy. With extensive advisory experience related to Hyundai Asan Group and the Gaeseong Industrial Complex, Yoon & Yang focuses on reviewing the practical laws related to the economic interaction while making preparations to offer advice to government, companies, and public institutions on large-scale development initiatives that may be imminent. In addition, the Team leverages its deep familiarity of corporate activities in a socialist market economy system accumulated from its work in China and Vietnam to devise nuanced strategies in relation to the open-door policy trend in the North Korean economy.
Key Services
Legal advice on inter-Korean relations
- Offering general advice on the laws applicable to inter-Korean relations, including the Inter-Korean Exchange and Cooperation Act and the Development of Inter-Korean Relations Act
- Advising on the North Korean legal system and Inter-Korean Agreements
- Offering research on the unification of the legal systems of South and North Korea
- Offering research on North Korea’s regime change
Advice on North Korea investment
- Advising on the procedure for investing in special economic zones, such as the Gaeseong Industrial Complex
- Advising on the resumption of the Mt. Geumgang tourism project and the commencement of new tourism projects
- Advising on large-scale SOC projects, such as those for railway/road construction
- Advising on resource development projects in North Korea
- Advising on licenses/permits required for investments
- Advising on establishment and operation of joint venture companies between a domestic company and a foreign company
- Analyzing and advising on possible violations of sanctions against North Korea
- Drafting various agreements on investment in North Korea
- Advising on disputes and solutions related to investment
- Advising on business exit strategies and investment recovery
Legislative consulting
- Advising on the National Assembly legislation regarding the enactment and amendment of laws and regulations on inter-Korean relations
- Advising on legislative petitions regarding inter-Korean relations
Representative Cases
- Performed a legal review of Hyundai Asan’s Mt. Geumgang CC project
- Performed a legal review of Korea Tourism Organization’s inter-Korean tourism project
- Offered legal advice on corporate and retail investment in the Gaeseong Industrial Complex
- Offered legal advice on product supply agreements with North Korea
