Law firm Seum said on the 3rd that it established a subsidiary in California, including Silicon Valley, to support Korean corporations entering the U.S. market.
The U.S. subsidiary provides services needed for local settlement, including marketing, network building, and field-specific mentoring, for local startups and entering corporations. Seum will continue to directly handle Korean law advisory services for Korean corporations as before.
Seum established the subsidiary as the number of Korean corporations entering the U.S. has increased, heightening the need to review not only local laws and regulations but also multiple areas such as tax, tariff, and immigration. The plan is to connect corporations with local legal, tax, and immigration experts and to support networking and mentoring needed in the course of business.
In particular, when Korean startups enter the U.S. market, they can expand business opportunities through fundraising, mergers and acquisitions (M&A), and initial public offerings (IPO), but building a local network directly requires considerable time and expense, so the policy will focus on reducing the related burden.
Choi Ji-hoon, Seum senior foreign attorney, was appointed as the head of the U.S. subsidiary. Choi, together with local staff, will oversee marketing, networking, mentoring, and local settlement support for Korean corporations.
Choi said, "One of the areas where Korean corporations face the most difficulty when entering overseas markets is the difference in information and practical experience regarding local laws, systems, and the business environment," adding, "We will focus on building a collaborative network with local experts in each field to reduce the trial and error and gaps that corporations may experience."
In April, Seum also set up a cooperation base in Phnom Penh, Cambodia, to support the local operations of Korean corporations. With the establishment of this subsidiary, the plan is to expand the overseas corporation support network to the United States.