South Korea to launch book to help investors on Indian law

CHENNAI: Is all well with South Korean investors in India? It is learnt that existing companies and potential investors from the country are facing difficulties in adapting to the Indian business culture, and its ‘comprehensive and complicated commercial and contractual law structure.’

In a bid to enhance awareness of various Indian laws among Korean business community, the Consulate General of the Republic of Korea will launch a book titled "Survival Indian Law" on Tuesday.

"The commercial and contractual law structure is unlike Korea and the existing companies and potential investors are facing lots of difficulties in adapting to the Indian business culture based on comprehensive and complicated commercial and contractual law structure," said Deputy Consul General HY Lee.

This book, Lee said, will provide legal knowledge to the companies and investors to shield themselves from "baseless legal accusals and threats". He said that there have been a few cases where in local companies and law firms are taking advantage of the lack of legal experience of Korean companies and investors.

He expressed confidence that the government authorities will actively intervene to protect innocent companies and investors from legal abuses, thereby attracting more Korean and other investors to India rather than other Southeast Asian countries such as Vietnam.

The Consulate is already operating a legal trouble-shooting centre for Korean companies to solve legal issues faced by its businessmen and investors since September 14, 2020 on a trial basis.