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Managing Partner Tan Chong Huat highlighted the Firm’s shared optimism with its Korean Asean Plus Group partner DR & AJU in an article in The Business Times titled “Hope for the best but prepare for the worst“, on the prospects of greater development and business activity on the Korean peninsula. This follows recent progress in reconciliation between North and South Korea.
The article was first published in The Business Times on 07 May 2018.
Hope for the best but prepare for the worst
THIS WEEK’S TOPIC: How do you see the latest developments on the Korean Peninsula? What impact is there, if any, for business in the region?
Publication: The Business Times
Section/Page: Views From The Top/Online
Date: 7 May 2018
WHILE everyone understands that reconciliation can end abruptly, we at RHTLaw Taylor Wessing and our Korean Asean Plus Group partner DR & AJU are optimistic that reconciliation will impact businesses positively, especially on investments into Korea.
Over 90 per cent of the South Korean business people formerly in the North’s Kaesong Industrial Complex are willing to return.
Amid rumours that Korea’s chaebols are planning development projects in the North, shares of South Korean construction firms and real estate prices in the border region Paju, South Korea, are rising.
Investors no longer see Paju as risky, but instead believe the region is likely to experience rapid development as inter-Korean opportunities arise.