Subscribe | LinkedIn Group

Oct 21, 2010

American Law Firms in Korea

Things may be changing soon. Presently there are no U.S. law firms in Korea, but things will change if the Korea-U.S. FTA is passed. Presently numerous American law firms are interested in access to the market. I have been contacted by a few firms interested in building alliances. The doors will also open to British firms with the Korea-EU FTA.

The Korea Herald had an interesting interview with Gregory Nitzkowski the managing partner of Paul Hastings.

Gregory Nitzkowski noted in the article that:
"It is not the dominance in the Korean legal market that we seek, but rather a firmer connection to our global clients, many of whom are Korean-based international companies such as the Samsung or SK Group.   A market is usually in favor of the staus quo and changes for the unknown many come as a threat.  It is natural for Korean law firms to feel a certain degree of alarm and change themselves accordingly, but the global precedents show that they need not be intimidated by the upcoming challenges."
I have wrote numerous articles on how the introduction of competition will likely create better services for clients.  I assume, for business clients, fees may also be reduced and more transparent billing practices will be implemented by these firms.  Here are a few articles that appeared in the Korea Times and on this blog that may be of interest.


http://www.ipglegal.com/

_____
SeanHayes@ipglegal.com