Chaeum’s cross-border corporate attorneys have successfully completed due diligence of a Korean Foreign Direct Invested company (the “Target Company”) and provided legal opinion as per a request from its headquarter company based in Hong Kong (the “Client”) for the purpose of submission to the Stock Exchange of Hong Kong as part of its IPO application. The Client has established the Target Company, its fully owned subsidiary company, as a foreign direct invested entity in Korea and the Target Company is in business of manufacturing and supplying parts for mobile phones or similar devices.
For the legal due diligence, we have provided a list of request for documents and information covering (i) general corporation documents relating to valid establishment and corporate standing; (ii) approval and government regulations; (iii) commercial business and contracts; (iv) real properties and other tangible assets; (v) personnel management and labor; (vi) environment and safety; (vii) intellectual property rights; (viii) litigation and disputes; and (ix) insurance, for a period of the previous five (5) fiscal years. In relation to tax, our legal due diligence covered high-level tax compliance which ensures that there is no outstanding unpaid tax liabilities for the Target Company.
Upon completion of due diligence, we have provided a legal opinion in light of the laws of Korea in the English language based on the foregoing due diligence.
Should you require corporate due diligence in Korea and/or a legal opinion in accordance with the Korean laws, please do not hesitate to contact us.