Shin & Kim LLC said on the 21st that it signed a public-private partnership memorandum of understanding (MOU) on the 20th with the Busan-Jinhae Free Economic Zone Authority (hereinafter "the authority") to build BJ-INVESTIA, a comprehensive investment-attraction ecosystem.
BJ-INVESTIA is a comprehensive investment-attraction ecosystem that consolidates six key areas needed when foreign corporations invest in the Busan-Jinhae Free Economic Zone—▲ location and design ▲ investment and establishment ▲ finance and incentives ▲ customs clearance and logistics trade ▲ workforce and settlement ▲ innovation-driven growth—based on public-private cooperation.
Shin & Kim LLC and the authority plan to cooperate to support legal advice and professional consulting across the entire investment process for domestic and foreign corporations considering or entering investments in the Busan-Jinhae Free Economic Zone, as well as for tenant corporations.
The authority will identify and manage advisory and consultation needs of investing corporations. Shin & Kim LLC will provide legal advice and consulting that cover the entire pre-investment cycle, including investment structure design, foreign investment filing, incorporation, location and permits, and business operations.
The two organizations will begin full-scale advisory and consultation support for corporations in mid-September. They also plan to continue cooperation in various areas to support corporate investment and stable settlement, including briefings and seminars, and regulatory and institutional improvements.
Oh Jong-han, managing partner at Shin & Kim LLC, said, "Based on the firm's accumulated experience in advising on foreign investment and regulatory response, we can reduce the uncertainties corporations face in the investment decision process," and added, "We will help our free economic zone establish itself as an investment destination chosen by global corporations."
Park Sung-ho, head of the authority, said, "The broad industry expertise and legal advisory capabilities that Shin & Kim LLC has will greatly help corporations investing in the Busan-Jinhae Free Economic Zone make investment decisions and carry out their businesses stably."