The government’s 2016 decision to pull back from a full-market liberalization raised many eyebrows, especially among the global firms intending to practice Korean law.
By Anna Zhang, The Asian Lawyer
International law firms are facing a South Korean market clouded by uncertainty. Seven years into the country’s legal market liberalization, global firms still lack clarity on what to do with their Seoul offices.
Caught up in Britain’s agonizing withdrawal from the European Union, the fate of U.K. firms’ Seoul offices was suddenly thrown into question. So far, their ability to operate in Seoul hinges on a free-trade agreement between Korea and the EU, in which Britain has been a member since 1973. But all bets are off once Britain leaves.
