Ingresar
South Korea’s first TIPF with a Latin American country
By Guzmán Ariza, Attorneys at Law
South Korean Minister for Trade Dukgeun Ahn met with Raquel Peña, Vice President of the Dominican Republic, on April 7, 2023 at Seoul and held a Trade Investment Promotion Framework (TIPF) memorandum of understanding (MOU) signing ceremony to bolster cooperation in trade, industry and energy.
It is South Korea’s first TIPF with a Latin American country, and Seoul’s second one following the agreement with the United Arab Emirates signed in January, it added.
"The Dominican Republic is forecast to continue solid economic growth and has trade agreements with North American and European nations. So it bears greater potential for stronger trade and investment ties with South Korea, and it could serve as a base for South Korean firms’ advance into new markets," the ministry said in a press release, according to Yonhap news agency.
South Korea also will make efforts to sign a free trade agreement for a greater market opening and economic cooperation.
The two sides plan to hold a trade and investment cooperation committee meeting on a yearly basis to discuss bilateral cooperation and exchanges, the ministry added.
Guzmán Ariza, Attorneys at Law
Guzmán Ariza is a leading full-service law firm in the Dominican Republic, consistently ranked among the country’s top-tier firms by the most prominent global legal directories such as Chambers and Partners and The Legal 500.
With ten strategically located offices across the nation's principal business and tourism hubs, we are uniquely positioned to support clients in seizing opportunities within the largest and fastest-growing economy in Central America and the Caribbean.
Our multilingual team is well-versed in advising international clients across a broad spectrum of practice areas. In the field of intellectual property, we offer robust counsel and representation in both commercial transactions and litigation. Our services cover trademark and trade name protection, copyright and patent registration and enforcement, as well as licensing, assignments, and the transfer of IP rights.
Guzmán Ariza is globally connected through active memberships in prominent international legal networks, enabling us to effectively support cross-border matters and multinational transactions.
