Korea Investment & Securities announced on May 13 that it has signed a memorandum of understanding (MOU) with law firm Hwawoo to provide legal consulting services for family offices.
Through this agreement, Korea Investment & Securities will be able to proactively identify various legal risks that may arise during the asset succession process for family offices and ultra-high-net-worth individuals, and provide customized solutions for clients. In particular, the company explained that Hwawoo has extensive advisory experience in complex legal issues such as family business (corporate management rights) succession, corporate governance restructuring, and testamentary trusts, which is expected to further enhance the expertise and completeness of Korea Investment & Securities' family office services.
The two companies plan to cooperate not only in providing one-off legal advice, but also in establishing a foundation to systematically support clients' complex and sophisticated asset succession processes. At the same time, they aim to secure a premium client base and strengthen their differentiated service competitiveness as a joint goal.
Kim Sunghwan, CEO of Korea Investment & Securities, said, "Asset succession is an area where legal stability and sustainable structural design are key, going beyond simple tax savings," adding, "Through this agreement, we will be able to provide clients with even more sophisticated and differentiated family office services."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
