IRC advises foreign financial companies on Korean market entry and development strategies.
Working in co-ordination with IRC’s business development team, the principal financial consultant, Hank Morris, advises foreign companies principally in the areas of asset management and the securities industry.
IRC can support clients with market research, resource identification, market entry and development strategies, product development and representation. IRC is also able to advise foreign companies in various fields regarding the financial accounting and financial reporting standards in use, as well as the unique elements of the banking system in Korea
Foreign companies that are considering entering or expanding their businesses in Korea face a variety of hurdles which must be overcome if their businesses are to succeed . For non-financial businesses IRC offers the following financial consulting services
- Market entry & development strategies
- Resource identification
- Opportunity identification & risk assessment
- Financial due diligence
- Optimum structure for investment (e.g. equity, loans, bonds, or lease)
- Recommendation and evaluation of alternative financing methods
- Selection of financial institutions
- Negotiation of credit on favorable terms
- Limiting exposure to foreign exchange and business risk
- Optimizing commercial terms and conditions with local customers
The Korean financial system is immature by Western standards and foreign companies must be prepared to deal with this unfamiliar financial system to achieve their overall business objectives. IRC is able to recommend experienced providers of financial services to foreign companies as part of its general consulting services to foreign companies seeking to enter the Korean market.
IRC believes that the financial services market in Korea will grow and adapt increasingly to Western standards, but inevitably, this will be a long and somewhat laborious process. As the market develops, foreign companies active in Korea will need advice regarding the opportunities as well as risks presented by the Korean financial system, and IRC is well positioned to provide in-depth advisory services.