International Trade


Yeosan Law Offices are representing and advising in all respects of the overseas trade

"Sale of Goods"

In principle, the Civil law applies to the international sale of goods in case there is no agreed applicable law between the parties to the contract. However, since Korea became a Contracting country of CISG(UN Convention on International Sale of Goods), this convention will be applied to the extent that the sale of goods agreement falls into the scope of application of the Convention. In addition, the effect of Incorterms is recognized.

"Letter of Credit"

There is no particular Act governing the letter of credit issued by the bank. Instead, the UCP will be applied if the letter of credit contains words designating UCP as a governing law. As a result, court rulings are playing the most important role.

A bank's examination of documents under the regime of  the UCP 600

"Performance Bond or Advance Payment Guarantee"

Just like the letter of credit, there is no particular Act governing the performance bond or advance payment guarantee. If the   parties agreed to apply ISP98, this will be incorporated into the contract. If not, the Civil law and commercial law will be applied. The applicant may seek a court order(injunction) to suspend the payment by the bank to the beneficiary. But the requirements for the injunction are so strict that the ground and evidences for the injunction must be convincing at a glance. Yeosan Law Offices are representing advising foreign clients in seeking payments from issuing banks.



Fee Structure

Foreign Investment
M&A and Joint Venture
Intellectual Property
International Trade
Company Establishment

Yeosan Law Offices is providing the agency service for the foreign companies which do not need habitual staffs in Korea.

Anyone who need the agency service please click the below button.


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