The law firm Hwa Woo announced on the 25th that it participated as the only domestic law firm in the Riyadh International Arbitration Week (RIDW) held in Riyadh, Saudi Arabia, and hosted a seminar on Korea-Saudi corporations investment.
The RIDW, which took place for five days starting from the 23rd, is a leading international event in the field of international law and dispute resolution hosted by the Saudi Arabian government and the Saudi Commercial Arbitration Center. Lawyers, arbitrators, Alternative Dispute Resolution (ADR) experts, as well as judges, government officials, and legal teams from global corporations attend.
On the second day of the RIDW, Hwa Woo held a seminar under the theme 'Promoting Bilateral Investment Between Saudi Arabia and Korea.' In the first session, Hwa Woo advisor Choi Jong-moon presented on 'Policies of the Governments of the Republic of Korea and Saudi Arabia to Enhance Investment Between the Two Countries.' The advisor introduced the current state of economic relations between the two countries, focusing on major projects, and subsequently explained how to utilize entities such as the Korean government and the Korea Trade-Investment Promotion Agency (KOTRA). He also emphasized the importance of comprehensive joint ventures in areas such as automobiles, shipbuilding, robotics, and smart cities.
In the second session, Lee Jo-seop, a senior foreign attorney at Hwa Woo (licensed in the United Kingdom and New York), presented on 'Relevant Laws and Opportunities for Promoting Investments by Corporations of the Two Countries, Including Foreign Investment Laws.' He reviewed the key contents of foreign investment laws in both Korea and Saudi Arabia, examining investment opportunities and crisis management strategies on a case-by-case basis. This foreign attorney explained the key amendments to the new foreign investment law in Saudi Arabia and also introduced major systems to be aware of when investing in Korea from abroad, including Saudi Arabia.
Hwa Woo's representative attorney Lee Myung-soo noted, 'This seminar has strengthened investment cooperation and economic ties between Korea and Saudi Arabia and has served as an important opportunity to announce the competitiveness of Korean legal services to the world.' He added, 'In the future, Hwa Woo will continue to provide the best value to clients based on high expertise in overseas operations and faithful legal services.'