The Consulate General of the Republic of Korea will release a book titled Survival Indian Law on Tuesday.
The book aims to enhance the awareness of the Korean business community on the various Indian laws, thereby enabling them to avoid unnecessary legal risks in India.
According to a press release from the consulate, existing companies and potential investors from Korea have faced difficulties in adapting to the Indian business culture based on comprehensive and complicated commercial and contractual law structure unlike in Korea.
The release said there had been a few cases of local companies and law firms taking advantage of the lack of legal experience of Korean companies and investors.
Deputy Consul General H.Y. Lee said that this book would provide necessary legal knowledge for Korean companies and investors to shield themselves from baseless legal accusations and threats. He expressed the hope that State authorities would actively intervene to protect companies and investors from legal abuse, thereby attracting more Korean and other investors to South India.
Since September 14, the consulate has been operating a troubleshooting centre on a trial basis to help Korean companies solve legal issues.
