Dongin Law Firm, led by Managing Partner Joo Chang-yeol, announced a partnership with the Korea Marine Equipment Association (KOMEA) to assist small and medium-sized shipbuilding and marine equipment companies in entering the U.S. vessel maintenance, repair, and overhaul (MRO) market.
The two organizations signed a memorandum of understanding (MOU) to help domestic companies overcome legal and regulatory challenges as they expand into global markets and to significantly enhance cooperation in the shipbuilding industry between South Korea and the United States.
The U.S. vessel MRO market is substantial and has high growth potential; however, complex local laws and regulations have made it difficult for domestic small businesses to navigate independently.
In light of this agreement, Dongin has officially established an 'MRO Dedicated Team' led by Attorney Joo Chang-yeol and International Legal Team Leader Joo Woo-hyuk, to initiate a robust support system for market entry.
The newly formed MRO team comprises experienced professionals, including Attorneys Joo Chang-yeol, Yoon Chan-joo, and Bang Seung-woo, as well as U.S. Attorneys Joo Woo-hyuk, Noh Tae-yeob, and Yoon Sun-ah, along with Administrative Officer Hong Ji-hyun.
The team will provide tailored legal services addressing all legal needs arising during overseas business operations, including precise consultations on U.S. vessel MRO and shipbuilding industry laws, regulations, contracts, and the establishment of local entities and partnerships.
Additionally, Dongin will leverage its local legal and industrial network to facilitate practical collaboration opportunities with U.S. shipyards, MRO specialists, government entities, and relevant organizations.
Both organizations also agreed to closely share information on the U.S.-Korea vessel MRO industry and market, and to jointly operate programs such as seminars and forums to identify key collaborative projects for building a global supply chain.
KOMEA plans to closely monitor the on-site needs and challenges of domestic related companies and continuously seek collaboration opportunities based on its extensive industrial network.
Attorney Joo Chang-yeol emphasized, "This agreement is significant as it establishes a practical cooperation system where the industry and legal experts jointly support the entry of domestic small shipbuilding and equipment companies into the U.S. market. We will actively assist companies in conducting stable business operations locally, leveraging Dongin's legal expertise and robust domestic and international networks."
* This article has been translated by AI.
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