BKL provides specialized advice on unification and inter-Korean relations at the level of policy and legal analysis, as well as large-scale inter-Korean economic cooperation projects, joint management and joint ventures with North Korean companies, independent investment projects, inter-Korean trade, inter-Korean toll manufacturing businesses, inter-Korean tourism and cultural cooperation projects, inter-Korean cooperation insurance, and sanctions against North Korea, among others. BKL was the first law firm in Korea to form a team dedicated to North Korea matters in 2002 and our experts have developed a sensitivity to the issues over many years of advising the Korean government, domestic and international businesses. Our expert team is led by Wook Yoo, widely recognized for his expertise in North Korea matters, and Chan Ho Lee,  formerly with the Ministry of Unification for over 20 years where he gained exceptional hands-on experience with inter-Korean matters.

Unification and Inter-Korean Relations 

BKL advises the Korean government, public and private institutions, interest groups, and individuals on the inter-Korean relations and unification matters, spanning the Constitution, the Inter-Korean Exchange and Cooperation Act, the Development of Inter-Korean Relations Act, the North Korean Human Rights Act, the North Korean Refugees Protection and Settlement Support Act, and the National Security Act. We also provide specialized research and legal advice with respect to the consolidation of inter-Korean laws in furtherance of closer inter-Korean relations.

Large-Scale Infrastructure Projects for Inter-Korean Economic Cooperation 

In order to facilitate and promote large-scale infrastructure projects as part of inter-Korean economic cooperation, it is essential to ensure that both South and North Koreas implement a robust legal infrastructure, establish joint management agencies or jointly managed companies, create large special economic districts, and modernize railways and roads connecting the two Koreas. BKL has a long history of advising the Korean government and private businesses in connection with the Gaeseong Industrial Complex and tourism projects at Mount Kumgang. The new economic map of the Korean Peninsula poses new challenges, such as the creation of inter-Korean special economic districts, the formation of special tourist zones, connection of railroads and roads, and cooperation between ports, and our North Korea experts are committed to working with our clients on these unique and exciting opportunities.  

Business Projects in North Korea 

Inter-Korean economic cooperation projects via joint management or joint ventures with a North Korean entity, independent investment in North Korea or establishment of an entity in any form in North Korea require compliance with the laws of both Koreas. In addition, legal review is needed on the composition and operation of the board of directors, repatriation of operating profits from the North to the South, and tax issues. We provide guidance to domestic and international entities investing or planning investments in North Korea.

Private Inter-Korean Cooperation Projects 

With respect to private inter-Korean cooperation projects (such as inter-Korean trades, inter-Korean toll manufacturing businesses, and inter-Korean tourism and cultural cooperation projects) based on the Inter-Korean Exchange and Cooperation Act and the Inter-Korean Basic Agreement, BKL works closely with our clients throughout the entire business process from business planning to negotiations with North Korean authorities, obtaining government approval and permission, and closing of the projects.

Inter-Korean Economic Cooperation Insurance and Sanctions against North Korea

The Inter-Korean Cooperation Fund Act established the inter-Korean economic cooperation insurance system as a safety valve in inter-Korean economic cooperation. As the UN and individual countries maintain sanctions against North Korea, corporations and individuals participating in inter-Korean economic cooperation projects must examine closely whether their projects and the North Korean counterparties are subject to such sanctions. Our services encompass in-depth advice on issues relating to Inter-Korean economic cooperation insurance and sanctions against North Korea.