Legal Provisions to Consider When Contracting Overseas Construction Projects
Publication of Overseas Construction Legal Consulting Casebook
The Overseas Construction Association announced on the 5th that it has published the "Overseas Construction Legal Consulting Casebook," which compiles consultation cases regarding legal difficulties that companies expanding overseas may encounter during the execution of overseas construction projects.
Previously, along with the Ministry of Land, Infrastructure and Transport, the association conducted the "Overseas Construction Legal Consulting Support" project to assist small and medium-sized enterprises facing challenges such as project delays and liquidated damages due to COVID-19. Starting from September 2020, the Ministry of Land, Infrastructure and Transport signed agreements with major domestic law firms (Kim & Chang, Bae, Kim & Lee, Yulchon, Daeryook Aju, and HwaWoo) through the association to provide one-on-one customized legal consultations. The newly published casebook compiles these consultation cases.
The casebook contains vivid inquiries and law firms’ proposed solutions regarding various real issues faced by companies, including not only COVID-19 related legal issues but also contract conclusion, claims, warranty for defects, payment, contract termination, and taxes.
The appendix includes content from the "Overseas Construction Plaza 2021," held as a "Webinar Series" in six sessions together with the participating law firms, covering topics such as offshore wind power, environment, re-entry into Libya, bidding success know-how, ESG (Environmental, Social, and Governance), and construction cost recovery.
Park Sun-ho, Chairman of the Overseas Construction Association, stated, "We plan to continue various support efforts to expand overseas orders and resolve difficulties faced by companies expanding overseas."
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