Global accounting and consulting firm Forvis Mazars, through its Korean partnership firm (Saebit Accounting Corporation), has signed a memorandum of understanding (MOU) with Invest Seoul, the city’s foreign investment promotion agency. This agreement aims to establish a framework to support the entry and settlement of French and European companies in Seoul.
The MOU was signed on June 18 during the Viva Tech, the world's largest technology startup fair, held in Paris. This year marks the 140th anniversary of diplomatic relations between Korea and France, making the agreement a significant milestone for enhancing economic cooperation and investment between the two countries.
Under the agreement, Invest Seoul and Forvis Mazars will collaborate to support French and European companies in entering the Korean market and expanding their businesses. They plan to implement joint programs to ensure the stable growth and settlement of foreign-invested companies in Seoul. With the expertise of Forvis Mazars’ Korean partnership firm and its local network in France, overseas companies will receive comprehensive support from the initial stages of market entry to corporate establishment, tax, accounting, regulatory compliance, and business operations.
Forvis Mazars boasts a global network spanning over 100 countries and regions and ranks as the fifth-largest accounting firm in France. The firm facilitates smooth communication and project execution between companies in both countries through its Korean Desk in Paris and French Desk in Seoul.
Julien Erbo, lead partner at Forvis Mazars Korea, stated, "This agreement will serve as a new foundation for economic cooperation between Korea and France. We will actively support the entry of French companies into Korea and the global growth strategies of Korean firms based on Forvis Mazars' global network and expertise in both markets."
As Korea and France celebrate their 140th anniversary of diplomatic relations, recent visits by President Lee Jae-myung to France and President Emmanuel Macron of France to Korea have further expanded cooperation in advanced technology and startups. During a summit in April, the two leaders agreed to increase bilateral trade to $20 billion by 2030.
Thus, this MOU is expected to promote exchanges between European companies aiming to establish a foothold in Northeast Asia and domestic firms seeking to enter the European market.
* This article has been translated by AI.
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