Corporate Credit Investigation and Debt Collection

To expand into South Korea, the support of companies well-versed in local laws and regulations is essential. Additionally, conducting a credit investigation of target companies is equally important. It is challenging for foreign companies to investigate Korean companies independently, making it necessary to rely on local support firms.

Methods for evaluating a target company include general investigations of the company, financial statements, key financial information, credit ratings, and the preparation of summary and full reports. These reports are based on findings from highly reliable Korean credit investigation firms such as K-Report and Koryo Credit Information.

Using this evidence, support companies can provide accurate reports to businesses entering the Korean market.

Our ability to produce such reports stems from our robust network in South Korea. By leveraging information obtained from these credit investigation firms, we can create precise corporate investigation reports. With this level of support, businesses can confidently enter the South Korean market.

When expanding into South Korea and operating a business locally, one of the key challenges is collecting debts from Korean individuals or companies for unpaid receivables or loans.

Effective debt collection requires identifying the debtor's assets and implementing preservation measures, such as filing for provisional attachments or provisional dispositions, before initiating formal recovery actions. Generally, this involves obtaining real estate or corporate registry documents to verify ownership of real estate associated with the debtor's address. These documents can then be used to file the necessary applications. Additionally, if the debtor's bank account used for business transactions is known, provisional attachment or disposition measures can be applied to that account.

If the debtor's residence or business address is known, it is highly effective to send a certified letter before beginning formal legal procedures. This letter should outline the creditor's claim, the facts of the debtor's default, and provide notice of impending legal action.

Furthermore, South Korea offers a simplified debt recovery procedure, similar to those in other countries, called the payment order application process.

Our professional organization specializes in efficiently navigating these processes, enabling effective and reliable debt collection in South Korea.

To successfully expand your business in South Korea, it is essential to obtain a comprehensive credit analysis of your target company to mitigate debt risks.

Risk mitigation involves investigating and analyzing the credit status of the target company. To achieve this, it is crucial to secure the support of a company with expertise in the South Korean market.

The necessary information includes general investigations of the target company, financial statements, key financial data, credit ratings, and summary or full reports.

In South Korea, the most reliable reports are based on findings from credit investigation firms such as K-Report and Koryo Credit Information.

Using evidence from these credit investigation firms, support companies can provide accurate reports to businesses entering the South Korean market. By offering such credit analyses, trust can be built with companies seeking to establish a presence in South Korea.

Our company specializes in the South Korean market, with experts who analyze the credit status of target companies based on reports from reputable credit investigation firms.

・CHOICE Research & Consulting
・CHOICE Korea Branch Establishment & Support Services
・CHOICE Law Office