Jipyong and Kudun and Partners have advised Korean beauty and skincare company RIMAN on its strategic entry into the Thailand market.
South Korea’s Jipyong served as the overall co-ordinating counsel for RIMAN and Bangkok-based Kudun and Partners acted as Thai local counsel.
Jipyong advised on structuring and scheduling the market entry, preliminary analysis of the licensing and regulatory framework, and instructing and reviewing work carried out by Kudun and Partners.
Partners Sehun Ko and Jong Hun Collin Lee, as well as senior foreign attorney Ki Il Ban, spearheaded the Jipyong team.
“The most challenging aspect of the project was that the licensing and approval process for the cosmetics direct sales business in Thailand had to be completed in a sequential and interdependent manner,” Ko told Asia Business Law Journal.
“Jipyong addressed this by designing a critical path for each licence and managing step-by-step milestones throughout the process,” he said.
“In RIMAN’s Thailand market entry project, Jipyong and [Kudun] worked together as a single integrated team from start to finish.”
Kudun and Partners assisted on RIMAN’s establishment in Thailand, covering corporate structuring, regulatory and licensing matters, and strategic advice related to direct marketing and ongoing operational compliance. The firm also assisted with applicable foreign investment and commercial regulatory frameworks.
The team was led by founding partner Kudun Sukhumananda, corporate and M&A partner Chai Lertvittayachaikul, and head of regulatory, permits and licensing Thanyaluck Thongrompo.
“Our scope included advising on suitable business structures for operating in Thailand, foreign business restrictions under the Foreign Business Act, product commercialisation considerations, corporate establishment matters, and general regulatory compliance relevant to its intended operations in Thailand,” Lertvittayachaikul told ABLJ.
He said that supporting RIMAN’s establishment in Thailand was a key highlight, but noted the importance of adhering to local regulations.
“While the transaction itself was relatively straightforward from an execution perspective, the main focus was ensuring that the proposed structure and operations were compliant with Thai regulatory requirements while remaining commercially workable for a foreign investor entering a new jurisdiction.”
