Herbert Smith Freehills (HSF) has opened in Korea today (15 April), making it the third UK law firm to launch in the country after receiving approval from the Ministry of Justice last month.

The office will be co-headed by disputes partner Tony Dymond, who has relocated from London, and corporate partner Lewis McDonald from Singapore, alongside a group of two associates, a paralegal and two back office staff.

Located in Centre 1, Building 67 Suha-dong, Jung-gu in Seoul, the office will focus on M&A, antitrust, projects and disputes, in the energy, natural resources, infrastructure and technology sectors.

The other two British law firms with offices in South Korea are magic circle firm Clifford Chance, who opened its base in July 2012, and global outfit DLA Piper, which launched in January.

A total of 16 firms have now obtained approval to set up in the capital, most of which are US partnerships. Linklaters has also applied for a licence to open in the country, whilst Ashurst and Bird & Bird have expressed in interest in the market.

"Our office opening in Seoul is one of the key synergy projects for our newly merged firm," said Herbert Smith Freehills' senior partner Jonathan Scott.

"As an international law firm with the largest integrated Asia-Pacific presence and capability, we are perfectly placed to assist South Korean clients on their international expansion activities.

"We have longstanding experience in advising clients on outbound investments in a range of jurisdictions, including the more difficult territories and emerging markets, and look forward to offering our expertise to our clients."

South Korea first opened up its legal market to foreign firms in the middle of last year following the ratification of a free trade agreement with Europe in February 2011.

The world's twelfth largest economy, and fourth largest in Asia, has since seen a wealth of interest from international firms, most of which are eyeing IP, M&A or capital markets work.

Sources say British firms have had more difficulties setting up in the country than their US counterparts, primarily due to rules which require the chief representative of the Korean office to have qualified in the firm's home jurisdiction and practised there for at least three years.

Whilst there are many South Korean lawyers currently practising in the US, few are based in the UK.

HSF now has eight offices in Asia and four in Australia following the merger between Herbert Smith and Australia's Freehills last year.

The firm says it will be looking to build on its current Korean practice, which is heavily involved in advising local clients on outbound energy and natural resources deals in Australia, the Middle East and elsewhere.