Overseas Construction Legal Barriers Solved... Four Major Law Firms Assist

From the left, Kim Woo-jae, Attorney at Law, Bae, Kim & Lee LLC; Lee Kyung-joon, Attorney at Law, Yulchon LLC; Kim Young-tae, Vice Chairman, Overseas Construction Association; Park Sang-soon, Attorney at Law, Daeryuk Aju; Lee Dae-woong, U.S. Attorney, Kim & Chang Law Office

The shoulders of domestic small and medium-sized construction companies, which had difficulties expanding overseas due to a lack of understanding of local laws, are expected to become significantly lighter.

On the 2nd, the Overseas Construction Association announced that it signed a business agreement with four major law firms representing the Republic of Korea to support overseas construction companies on the 31st of last month.

At this business agreement ceremony, Kim Young-tae, Vice Chairman of the Overseas Construction Association, Lee Dae-woong, a U.S. attorney from Kim & Chang Law Office, Park Sang-soon from Dae-ryuk Aju Law Firm, Lee Kyung-joon from Yulchon, and Kim Woo-jae from Bae, Kim & Lee attended and agreed to expand joint cooperation in responding to legal issues faced by domestic construction companies struggling overseas.

The Overseas Construction Association operates the overseas construction legal consulting support project promoted by the Ministry of Land, Infrastructure and Transport. Since 2020, the legal consulting support project for overseas construction, implemented by the association, has served as a problem-solving channel for small and medium-sized enterprises with limitations in addressing legal issues that may arise during the execution of overseas construction projects.

In particular, last year, six webinars were held on specific topics such as overseas construction issues, legal points to consider when re-entering Libya, and know-how for successful bidding, providing in-depth legal advice. Additionally, a casebook compiling actual legal consulting cases was published and distributed to help companies refer to potential legal issues that may arise during overseas business promotion.

Kim Young-tae, Vice Chairman of the Overseas Construction Association, expressed gratitude for the active cooperation of the law firms for the successful business promotion of domestic companies and said, "Let us continue to work together to support companies' overseas contract activities."

The law firms stated, "Although our construction companies possess excellent technical skills, they face difficulties due to completely different legal environments inherent in overseas projects. We will devote all our capabilities to support them and strive to become a catalyst and pillar for the development of the overseas construction industry."

The overseas construction legal consulting support project is scheduled to be fully implemented from early April. Small and medium-sized enterprises registered in the overseas construction industry can apply through the association's Small and Medium Enterprise Contract Support Center.

This content was produced with the assistance of AI translation services.