Yangon, Myanmar. Photo: Gil.K/Shutterstock.comKorea's Yulchon Expands Myanmar Reach With ZICO Law Collaboration
The collaboration will give the leading Korean firm access to legal expertise in the Southeast Asian nation.
May 29, 2019 at 12:20 PM
2 minute read
Leading Korean firm Yulchon has entered into a collaboration agreement with southeast Asian legal network ZICO Law's member firm in Myanmar.
Yulchon said in a statement that the collaboration with Yangon-based ZICO Law Myanmar will allow the Korean firm to provide clients with greater insight and access to legal expertise in Myanmar. Seoul-based Yulchon has had its own outpost in Yangon since 2014 – the first major Korean firm to enter Myanmar. Since last year, it has been staffed by Korean-speaking Burmese attorney Zin Mar Win; she is supported by a five-lawyer Myanmar team in Seoul.
ZICO Law Myanmar was launched in 2013 and since 2017 has been led by executive chairman Maung Maung Thein – Myanmar's former deputy finance minister and former chairman of the Securities and Exchange Commission. The southeast Asian legal network also has member firms in Brunei, Cambodia, Indonesia, Laos, Malaysia, the Philippines, Singapore, Thailand and Vietnam.
Yoon Hee-woong, co-managing partner at Yulchon, told Law.com's The Asian Lawyer in March that the firm sees a competitive edge in markets where international firms do not have a large presence – and Myanmar is one such market.
An initial wave of international firms entered Myanmar between 2013 and 2017, but several have since pulled out or shrunk significantly. New York-based Herzfeld & Rubin and legacy London-based Berwin Leighton Paisner shuttered their Yangon offices last year; and after a string of departures, Baker McKenzie's Yangon office will be reduced to minimum on-the-ground presence.
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