The Office of the Foreign Investment Ombudsman helps foreign-invested companies overcome obstacles in the course of doing business in Korea.
The Office of the Foreign Investment Ombudsman, which was established in 1999, aims to resolve the grievances of foreign-invested companies operating in Korea.
The Foreign Investment Ombudsman is commissioned by the President of the Republic of Korea and the OFIO operates a "Home Doctor" system under which specialists from various fields, such as finance, accounting, law, industrial sites, taxation, law etc., provide foreign-invested companies one-on-one service by investigating and resolving a wide range of grievances in the most efficient and effective manner.
The United Nations Conference on Trade and Development and Asia-Pacific Economic Cooperation have praised Korea’s Foreign Investment Ombudsman system as being an effective way to prevent investor-state disputes.
Many countries are interested in benchmarking Korea’s Foreign Investment Ombudsman system, including Russia, Kazakhstan, Brazil and Vietnam. With years of grievance resolution expertise cases, the OFIO works to prevent problems and improve Korea’s investment environment.
Grievance resolution cases ’14: 437 cases → Grievance resolution cases ’15: 451 cases (On-site visits : 704 cases)