South Korean law firm Jipyong has entered into a partnership with Kenya’s G&A that aims to assist investors from the North Asian country looking to enter Africa.
Only 0.7 percent, or $3 billion, of Korea's overseas investment headed to Africa between 2011 and 2020, however, interest is believed to be growing in recent times. Korean investors are currently assessing opportunities in certain key sectors in Kenya – as well as the broader African continent – such as agriculture, ICT, health, energy, infrastructure, education, affordable housing, and urban transport.
“Through this MOU with G& A, Jipyong will utilize its expertise and network in Kenya's legal and regulatory environment. Also, we will provide concrete and practical legal services to Korean companies to successfully enter the African market and establishing strategies on it," Jipyong said in a statement.
Added Eric Gumbo, managing partner of G&A: “This collaboration will provide a platform for both firms to offer unique value to their clients in Korea, Kenya and the African region and support Kenya and Korea’s mutual desire to unlock trade and investment opportunities between the two countries.”
According to the 2023 ALB Top 50, Jipyong is the seventh-largest law firm in South Korea, with more than 300 lawyers.
