Qatar-South Korea business and trading relations the focus at QU-LAWC forum

Qatar University College of Law (QU-LAWC) yesterday hosted the “Qatari-South Korean Law Forum: Comparative and International Approaches” aimed to discuss the legal framework of international relations related to business and trading between Qatar and South Korea.

Organized in collaboration with Korea University Law School, the forum was an opportunity to promote dialogue among students, researchers and experts from Qatar and beyond to share their ideas and knowledge on comparative and international approaches of Qatari-South Korean Law.

Ambassador of South Korea to the State of Qatar H.E. Mr Park Heung-kyeong delivered the welcoming remarks at the opening ceremony followed by LAWC Associate Dean for Research and Graduate Studies and Professor of Civil Law Prof Faouzi Belknani, and Professor of Law at Korea University Law School Prof Young-Hwan Chung. The event’s program included a film screening on LAWC and 2 panel discussions themed “New Laws, Policies and Trends in Qatari-Korean Business” and “Business Dispute Resolution”.

Discussions focused on a wide range of topics such as “International Legal Aspects of Monetary Relations within Northeast Asia: Selected Issues”, “Evaluation of the Conditional-Absolute Payment Issue in Letters of Credit: Identifying which Position Provides Maximum Party Autonomy, Certainty, Flexibility, Fairness and Good Faith”, “Assessment of Shareholders Protection in the New Qatari Corporate Law: Paving the Road for Investors”, “The protection of minority shareholders in Qatari corporate Law”, “Protection of Personal Data in Korea”, “Models of Dispute Resolution and Economic Development: QIC & DRC. DFCC and Singapore International Court as the Real Alternative”, “Access to Korean Judicial System for Foreign Nationals”, “Good faith in contracts: Qatari Law perspective”, “Electronic Litigation in Korea”, and “The Enforcement of Settlement Agreements Resulting from Mediation”.

LAWC Dean Dr Mohammed Bin Abdulaziz Al-Khulaifi said: “This forum is the first-of-its-kind in the region to highlight the solid relations between Qatar and South Korea, and both countries’ legislations from the perspective of commercial law.” Dr Al-Khulaifi stressed on the importance to provide a legal environment which contributes to the establishment of legislations that protect investment and preserve the rights of investors. He also highlighted the need to create an effective and efficient justice which is one of the most significant factors for the sustainability and the development of Qatar’s openness to foreign investment. He said: “Qatar became the Arab world’s engine of growth and development. The country was named first in the Arab world and 14^th internationally in the index of global competitiveness 2015-2016.”

H.E. Mr Park Heung-kyeong said: “I would like to convey my sincere appreciation to the College of Law at Qatar University and Korea University Law School for organizing this significant law forum here in Doha. This forum is both opportune and appropriate in discussing important legal aspects of business between Qatari and Korean companies from monetary relations, financial transactions and investments to dispute resolutions and the application of Korean judicial systems for foreign nationals. We are witnessing the activity of many large Korean companies and small and medium companies exploring business opportunities in Qatar.”

He added: “I would like also to express my deep gratitude to Qatar University for offering a Korean language program starting this semester, a collaboration between Qatar University and the Korea Foundation. Korea University, one of the best universities in Korea, has been committed to cooperating with Qatar University by last year signing an agreement for joint exchanges in Masters’ and PhD programs at both institutions.”

Prof Faouzi Belknani said: “The economic development and the increase in the number of Korean companies in Qatar led to the need for the establishment of a legal environment with the aim to enhance the growing investments in the country. In this regard, the creation of legislations should meet the needs of various developments that are taking place in the country, while maintaining Qatar’s political, economic and social roots. This forum is a valuable opportunity to establish comparative and international approaches of the Qatari and South Korean law, and to provide a better understanding of each country’s legal culture.”