On June 18, 2025, LIN hosted a successful seminar titled “Doing Business in Korea” for a visiting business delegation from the State of Utah, USA.
In his opening remarks, Managing Partner Jin Seok Lim highlighted Korea’s world-class infrastructure, stable legal and regulatory systems, highly educated workforce, and strategic location in Northeast Asia. He noted that these advantages make Korea an attractive destination for companies across a range of sectors, including technology, healthcare, consumer goods, and advanced manufacturing.
The first session featured David Yang, who introduced LIN’s Foreign Investment Advisory Team and discussed various entry models tailored to Korea. These included agency, distributorship, franchise, joint venture, and subsidiary establishment. He outlined the pros and cons of each model, depending on the desired level of market presence and commitment.
In the second session, Taejoon Bae delivered a presentation on Korea’s regulatory environment for foreign investors, with a focus on the Monopoly Regulation and Fair Trade Act and the Distribution Industry Development Act. He shared practical insights on legal issues commonly encountered in the distribution of imported goods and offered strategies for risk mitigation and regulatory compliance.
The Q&A session saw enthusiastic engagement from members of the Utah delegation, generating thoughtful discussion on the operational realities of entering the Korean market. Attendees welcomed the seminar as a valuable opportunity for practical guidance and legal insight.
In closing, Dong Soo Chung, Director of WTC Utah Korea, remarked,
“This seminar offered timely and practical guidance for Utah companies preparing to enter the Korean market, particularly as direct flights between Incheon and Salt Lake City open new doors for bilateral exchange. We look forward to deepening cooperation between Korea and Utah.”
View original article▼
https://www.mk.co.kr/news/business/11356618