Stepping into Beijing in China after opening two offices in Ho Chi Minh City and Hanoi in Vietnam, the law firm is throwing its hat into the ring to expand Korea’s legal market overseas
With Korean law firms actively entering overseas markets, law firm Yulchon opened its Beijing office on March 3, 2011 after receiving a license from the judicial department of China. On May 12, Yulchon held an opening ceremony as well as the “Legal Seminar on Korea-China International Investment” at the Kempinski Hotel Beijing Lufthansa Center located in Beijing, China. Approximately 500 people attended the event, including Yulchon’s Represent-ative Attorney, Woo Chang-rok, Korean and Chinese government officials, figures from legal circles and academia, corporate executives, and representatives of Korean resident groups in China.
Yulchon is considered one of the top Korean law firms. Established by highly-experienced attorneys under the goal of “making a village of lawyers,” it has built an excellent reputation in numerous legal areas, including corporate law, finance, tax, fair trade, international investment and trade, arbitration, and intellectual property by providing quick and accurate legal services that are customized to the clients’ needs.
Seven attorneys will be working at Beijing office, including Beijing office head Jeong Yeon-ho, who has provided China-related lawsuit, arbitration, and consultancy services in Beijing completing courses at the Judicial Research and Training Institute (JRTI) in 1998 as a member of the 15th graduation class, Attorney Han Jeong-soo, who has been responsible for China-related lawsuits and arbitration work since completing the JRTI as a member of the 30th graduation class and received training at Peking University, Senior Expert Adviser Lee Hyun-joo, who was trained at People’s University of China and has been in charge of tax-administration support work for Korean businesses entering China, Expert Adviser Im Hun-gi, who has conducted China-related consultancy work in Beijing since Korea and China established diplomatic ties, and China Attorney Tae Chung-nam, who has provided advisory services on Korea-China international investment and trade for the last decade at various Korean and Chinese law firms.
The office head Jeong Yeon-ho was the first Korean lawyer to enter China in 1998 and has been extensively engaged in legal activities. Furthermore, he is the most prominent sinologist in Korea, creating Chinese law classes at Seoul National University as well as the JRTI for the first time in Korea. Working as an arbitrator at the Korean Commercial Arbitration Board (KCAB) and the China International Economic and Trade Arbitration Commission (CIETAC), Jeong gained valuable experience in regards to investment in China and the settlement of China-related trade disputes.
Due to the fact that Korea recently signed the Korea-EU FTA and is about to sign the KORUS FTA and the Korea-China FTA, Korea’s foreign investment and trade have increased dramatically, with the legal market growing accordingly. As a result, the Korean legal market is experiencing fierce competition, with firms not only having to compete with foreign law firms, but also new ones being established by the large number of young lawyers graduating from law school.
In order to meet current needs, Yulchon is actively strengthening its position in overseas markets in order to make a contribution not only to national development by providing critical on-site support to Korean companies abroad, but also to the expansion of international investment and trade by providing various services to foreign businesses eager to enter the Korean market. All of this has led to the opening of the Yulchon Beijing office in the world’s largest market.
With the opening of the Beijing office, Yulchon will be able to provide immediate assistance to clients while maintaining close cooperative relationships with experts in every sector, including Chinese government agencies, organizations, and multinational law firms by lining up a 20-member China team consisting of lawyers at both its headquarters and Beijing office.
Yulchon launched its Vietnam offices in Ho Chi Minh City and Hanoi in 2007 and January 2010, respectively in order to help clients invest in Indochina nations, such as Vietnam and Cambodia. Yulchon is also considering opening an office in Russia in the very near future and is also supporting clients flexibly respond to the rapidly changing global business environment by organizing task forces in regions, such as Japan, Oceania, and Europe.