Credit: Adobe Stock Major South Korean Law Firm Bae Kim & Lee Launches In Singapore
The launch seeks to capitalise on several major Korean conglomerates moves into the country.
August 24, 2021 at 12:15 AM
2 minute read
Bae Kim & Lee, one of South Korea's largest law firms, is launching its first office in Singapore.
The launch is an expansion of a small unofficial 'liaison office' the firm has had since 2020, according to partners at the firm, which will now be "reorganized as BKL's overseas subsidiary" and "duly licensed to practice independently" in the nation state.
BKL Southeast Asia practice head Eric Yang has relocated to Singapore from Vietnam to lead the office and the firm is looking to hire "talented lawyers with expertise in international finance or arbitration", a spokesperson added.
The base will initially launch with three to five lawyers and the firm plans to gradually increase its footprint.
The opening comes on a wave of new mandates in Singapore, according to a partner at the firm, who added that Korean conglomerates including Samsung, LG, Lotte, and CJ and large Korean financial institutions have "considered Singapore as a foothold for their advancement into the broader Asian market."
The partner continued: "As these companies succeed in their overseas expansion, we expect that other Korean companies will also utilize Singapore as a bridge and platform to expand to the Asian and global markets. Accordingly, we expect that demand for legal services in Singapore will naturally increase.
"Therefore, we want to increase our exposure to the ASEAN market by providing, via our Singapore office, Korean companies with comprehensive legal services in Singapore as well as provide knowhow that we have accumulated in Vietnam, Myanmar, Indonesia, and other South East Asian regions."
35-year old BKL is one of Korea's powerhouse firms, having pre-pandemic seen its gross revenue breaking the 300 billion Korean won (about $273 million) barrier.
The firm entered Vietnam in 2015 with offices in Hanoi and Ho Chi Minh City, then launched in Yangon, the largest city in Myanmar, the following year.
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