Hello, my name is Kyusung Lee, an attorney at Weon Law.

As we enter the global era, many companies are expanding beyond domestic boundaries and reaching out to the international market.

For businesses operating globally, English contracts are not optional—they’re essential. Well-drafted contracts that follow the correct legal guidelines help protect a company's rights and prevent unnecessary disputes.

If you have ever drafted an English contract while dealing with foreign companies, you’ll know the importance of these documents. However, many companies often overlook the significance of contract drafting or proceed without adequate expertise, later facing unexpected disputes.

With this in mind, I aim to share useful insights to help Korean companies avoid disadvantages arising from English contracts.

Let me first introduce myself.

I, Attorney Kyusung Lee, attended the Hotchkiss School, a renowned boarding school in Connecticut, United States, and graduated with honors in Economics from Brown University. My experience living abroad from a young age has provided me with an extensive international background.

After beginning my career in the U.S., I returned to Korea and obtained certification as a startup specialist attorney with the Korean Bar Association and as an internationally certified anti-money laundering specialist (CAMS). I currently offer a wide range of legal services, including ✅corporate legal advisory, ✅English contract services, and ✅support for foreign-invested companies.

While most attorneys have a basic command of English, simply knowing the language is not enough to handle English contract drafting. An understanding of foreign cultures, laws, and language, along with hands-on business experience, is essential.

With this in mind, I provide comprehensive services related to English contract drafting, translation, and review. Many clients have successfully completed their transactions and mitigated unexpected disputes with my assistance.

To draft an English contract that is legally sound, one must consider international trade practices, the legal systems of each country, and potential risks. Overlooking any of these elements could put you at a disadvantage in the event of a dispute.

Essential Elements of English Contract Drafting
· Clearly identify the parties involved: Legal names, addresses, business registration numbers, representative names, etc.
· Precise transaction and contract details
· Pricing structure and payment terms
· Conditions and schedule for goods or services delivery
· Warranty and quality assurance clauses
· Contract validity period and termination conditions, etc.

The points mentioned above are essential not only for drafting English contracts but also for domestic contracts in Korea. However, there are additional considerations unique to English contracts.

Firstly, [Governing Law and Jurisdiction]. In international transactions, it is crucial to specify which country’s laws will apply and where disputes will be resolved. This choice significantly impacts future legal costs and procedures, so careful selection is required.

Next is [Payment Terms]. While domestic transactions are relatively straightforward with payments in Korean Won, international transactions are more complex. Planning for exchange rate fluctuations is essential, as well as specifying payment methods, deadlines, and interest rates for late payments.

Additionally, it is important to consider the [Possibility of Force Majeure]. This includes a clause on how to respond if the contract cannot be fulfilled due to unforeseeable circumstances like natural disasters, war, or strikes. This clause serves as a safeguard for the parties, potentially exempting them from liability for delays or non-fulfillment due to such events.

Since the language used in business contracts differs slightly from everyday English, seeking assistance from an attorney well-versed in both law and language is crucial when drafting English contracts.

Attorney Kyusung Lee thoroughly reviews your company’s rights and interests to ensure no disadvantageous terms are included in your contracts. Additionally, if your company has drafted contracts internally, I provide translation and review services.

If you need support with international transactions or contracts, please reach out to Attorney Kyusung Lee at Weon Law.

Contact:

Email: kslee@weonlaw.co.kr

Phone: +82 2 6264 7604