Law firms poised for Korean welcome

Officials from the World Trade Organisation, the Korean government, lawyers and academics are meeting today (17 September) to discuss the possibility of opening up the Korean legal market.

International firms established in other South East Asia economies, such as Simmons & Simmons and Clifford Chance, are poised to take advantage of Korean liberalisation. However, the Korean bar is tentative about the timing of the move.
Simmons & Simmons' Hong Kong head of financial markets David McKeown said: “We're looking at Korea with interest, but we will have to see what happens.”
He said that it is unlikely that the Korean bar will completely change the laws. Foreign firms will probably be limited to practising international law before being permitted to take part in tightly controlled local joint ventures.