Bird & Bird Ends South Korea Cooperation
The U.K. firm said it has concluded a non-exclusive cooperation agreement amicably with South Korean firm HMP Law.
December 17, 2019 at 07:56 AM
3 minute read
Bird & Bird and its South Korean cooperation partner firm HMP Law have announced that the two firms have mutually agreed to end the nearly six-year-old pact.
London-based Bird & Bird entered into a non-exclusive agreement with Seoul-based Hwang Mok Park in 2014; the two firms collaborated on marketing and referred client work to each other. The firms said they will continue close relations but with a more flexible approach.
Both firms said they have no plan for new formal relationships but maintain a network of informal partner firms, including each other. HMP has more than 50 lawyers and advises on cross-border corporate and IP matters. Corporate partner Kyun-je Park manages the firm.
Justin Walkey, Bird & Bird's Asia-Pacific chair, said the two firms worked together on both inbound and outbound work relating to South Korea. "Over time, our strategic priorities have evolved and it is a good point to amicably conclude the arrangement," he said. "The IP- and tech-rich South Korean market is an important one for us and we will continue to support our clients there, using a range of carefully selected South Korean firms."
Earlier this year, Dentons expanded its global network into Korea by combining with local firm Lee International. Dentons will close its existing foreign legal consultant office in Seoul following the combination and operates in Korea as Dentons Lee, a local law firm. In addition, Taylor Wessing operates an association with Korean firm DR & AJU International Law Group.
Foreign law firms are not allowed to practise Korean law in their Seoul-based foreign legal consultant offices. There are now 29 foreign firms in Korea, including two Chinese firms; the majority of the foreign firms are from the United States.
In June, Korea and the U.K. agreed to a post-Brexit free trade agreement. British law firms will be able to continue operating in Seoul after Brexit. The U.K. firms were first allowed in the country in 2012 under Korea's free trade agreement with the European Union. A spokesperson for Bird & Bird said the firm has no plans to open its own office in Seoul.
In addition to Korea, Bird & Bird has operated a similar non-exclusive cooperation with Shanghai-based AllBright Law Offices since 2017.
|Related stories:
UK Firms' Seoul Offices Safe Post-Brexit Under Trade Deal With Korea
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