For Korean companies entering the Latin American market, LIN, together with the Korea-Latin America Association and Cuatrecasas, the largest global law firm in the Spanish-speaking world, hosted a seminar with the title of “Challenges and Opportunities in Latin America for Korean Companies” on April 30 at the InterContinental Seoul COEX, Samseong-dong, Seoul.
Following the opening remarks by Byung-gil Han, President of the Korea-Latin America Association, David H. Yang, attorney of LIN, presented the collaborative system between LIN and Cuatrecasas, a one-stop service connecting Korea, Latin America, and Spain, and discussed the improvement in the quality and accessibility of legal services provided thereunder.
Yang emphasized the importance of information sharing and the role of regional experts and suggested tips for targeting the Latin American market. “Real-time information sharing with local partners is essential. At the same time, the ability of local experts to coordinate local partners from Korean companies’ perspectives and independently analyze the facts and applicable laws is also important .”
After Yang's presentation, Ivan Ribenson, (attorney of Cuatrecasas Mexico City), explained the explosion of Korean investment in Mexico due to the nearshoring phenomenon. He said that Mexico, which is competing with China as the world's production base, welcomes Korean investment and pointed out the need to understand the labor laws regarding outsourcing labor force in order to do business in Mexico.
Manuel Quinze (attorney of Cuatrecasas Bogotá) and Oscar Treyes (attorney of Cuatrecasasas Lima) spoke about the active relationships of Columbia and Peru with Korea through FTAs and also discussed trade relationships with Korea as well as opportunities for infrastructure projects such as roads, ports, water and sewerage which can be jointly conducted with Korea. Cristian Conejeros (attorney of Cuatrecasas Santiago) emphasized the importance of securing sustainable resources, while highlighting Chile's lithium industry and Cuatrecasasas' international arbitration capabilities.
Omar Puertas and Albert Garoppe (attorneys of Cuatrecasas Madrid and Barcelona) shared a storyabout advising Korean soccer player Lee Kang-in regarding his transfer to Paris Saint-Germain and explained about the current state of practice related to Korea both in Spain and Portugal.
The meeting was attended by major Korean companies including Samsung C&T, SK Earthon, HD Hyundai Heavy Industries, Dohwa Engineering, Hansung Enterprise, Amorepacific, Haewoo GLS, and Inthera.
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