Sales distribution channels Local representation is essential for the success of foreign firms in the Korean market. This is especially true when considering the fact that in Korea, business relationships are built upon personal ties and social introductions, and that much of the major third-country competition is only a few flight-hours away. In addition, for sectors that involve any type of government procurement, an entity must be registered with the Korean government in order to …showed first 75 words of 1112 total…

…showed last 75 words of 1112 total…Act to permit foreign-invested firms to purchase land for business purposes, including staff housing. The United States remains concerned, however, that other laws provide disincentives for foreign investment by placing overly strict limits on the purchase, use and sale of land by foreigners. In some situations, Korean land-use laws could result in heavy taxes on unused land and possible sale of land at below-market prices if legal requirements are not met within a specified period.