29th October 2012

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U.K. law firms quickly lose ground to U.S. rivals in S. Korea

The European Union’s free trade agreement with South Korea took effect in July 2011, more than half a year ahead of the South Korea-U.S. free trade pact. That was expected to give U.K. law firms an edge over their American counterparts in establishing a presence in Seoul. But as the Asian Lawyer reports, the opposite has occurred, mostly because of the requirement that the local heads of international law firms must be licensed to practice law in the firm’s home country. Because there are far more Korean-speaking lawyers in the U.S. than in the U.K., American firms hold the advantage.

Tagged: european unionfree trade agreementsouth koreaunited stateslaw firms

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