Sejong Law Firm, led by Managing Partner Oh Jong-han, announced on August 21 that it signed a public-private partnership memorandum of understanding (MOU) with the Busan-Jinhae Free Economic Zone Authority, headed by Park Seong-ho, on August 20 to establish the investment attraction ecosystem 'BJ-INVESTIA.'
BJ-INVESTIA is a comprehensive investment ecosystem that connects six key areas necessary for foreign companies investing in the Busan-Jinhae Free Economic Zone: location and design, investment and establishment, finance and incentives, customs and logistics, workforce and settlement, and innovative growth.
Under this agreement, Sejong and the Free Economic Zone Authority will collaborate to provide legal advice and specialized consulting to domestic and foreign companies considering investment or entering the Busan-Jinhae Free Economic Zone.
The Free Economic Zone Authority will identify and manage the advisory and consultation needs of investment companies, while Sejong will offer legal advice and consulting covering the entire investment cycle, including investment structure design, foreign investment reporting, corporate establishment, location and permits, and business operations.
Starting in mid-September, the two organizations plan to begin providing comprehensive advisory and consultation support to companies, including seminars and workshops, and will continue to collaborate in various areas to support investment and stable settlement.
Sejong is recognized as one of the leading law firms in South Korea, particularly strong in M&A, corporate mergers, ICT regulations and permits, and fair trade, while also addressing a wide range of legal issues arising during the investment process, including real estate, construction, taxation, labor, and economic security.
Notably, Sejong has been actively engaged in cash incentive programs specialized in attracting foreign investment through its Trade and Industry Policy Center, enabling a cohesive advisory system where experts from various fields collaborate to provide consistent support from initial risk assessment to regulatory responses after business establishment.
Oh Jong-han, Managing Partner of Sejong, stated, "The Busan-Jinhae Free Economic Zone is a key investment hub in South Korea, equipped with ports, airports, and industrial complexes, and its strategic value is increasing amid the global supply chain restructuring. Based on Sejong's accumulated experience in foreign investment and regulatory response consulting, we aim to significantly reduce the uncertainties companies face during their investment decision-making process and help our economic zone become a preferred investment destination for global companies."
Park Seong-ho, head of the Free Economic Zone Authority, remarked, "Sejong's extensive industry expertise and legal advisory capabilities will greatly assist companies investing in the Busan-Jinhae Free Economic Zone in their investment decisions and stable business operations. Through this agreement, we will strengthen cooperation with specialized institutions to quickly resolve legal and regulatory challenges faced by companies during the investment process and translate them into tangible investment outcomes."
The Busan-Jinhae Free Economic Zone Authority was established as a joint local government organization between Busan Metropolitan City and Gyeongsangnam-do to oversee foreign investment attraction and the development of logistics and advanced industry centers in the area surrounding Busan New Port and Jinhae Port, with its office located in Gangseo-gu, Busan.
* This article has been translated by AI.
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