"Enhancing Global Companies' Capabilities" Wolkeul Association, Strategic Training for Securing International Competitiveness

World Class Association Conducts Practical Training for Member Companies to Secure Global Competitiveness
Former Kim & Chang Lawyer Choi Seon-jip Participates as Instructor
Practical Lectures on Internal Competitiveness Enhancement Strategies and M&A Techniques Provided

On the 26th, the World Class Enterprise Association conducted practical training to secure the global competitiveness of its member companies at the small conference room of the Korea Chamber of Commerce and Industry. About 30 executives and employees of the association's member companies participated.

Attorney Choi Seon-jip, an advisor to the World Class Enterprise Association and formerly of Kim & Chang Law Office, served as the instructor. Attorney Choi has also served as an advisory member for the Financial Supervisory Service, the Ministry of Government Legislation's Legal Interpretation Committee, and the Korea Institute of Public Finance.

Attorney Choi emphasized that for mid-sized companies to acquire international competitiveness, it is important not only to enhance internal competitiveness but also to utilize partners, specifically through M&A strategies. Leading global companies have grown by acquiring key companies with core technologies both domestically and internationally.

Google, from 2001 to 2017, acquired over 200 companies ranging from search engines and online advertising to artificial intelligence and virtual reality, growing into the world's number one global company.

In Korea, Chung Mong-koo, chairman of Hyundai Motor Group, marked a turning point in securing Hyundai Motor Group's global competitiveness by acquiring Hanbo Steel through Hyundai Steel in 1978, with the intention of achieving vertical integration 'from molten iron to finished cars.'

Attorney Choi highlighted the importance of M&A based on major acquisition cases of domestic and overseas companies and also provided education on M&A methods such as LBO (Leveraged Buy Out) and MBO (Management Buy Out).

A representative of the World Class Enterprise Association explained, "This practical training was prepared to seek new countermeasures for World Class companies in response to rapidly changing overseas market conditions and the global economic downturn, and to strengthen global competitiveness." They added, "We hope this will be an opportunity for companies to explore ways to become true global enterprises not only by securing their own competitiveness but also through acquiring major global companies."

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