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Korean legal services set to open up
South Korea remains one of the last countries in Asia to liberalize its legal services market. Foreign law firms are prohibited from establishing offices in Korea and lawyers with foreign licenses are not officially allowed to practice foreign law. Although there are 400 foreign attorneys employed as foreign legal consultants, they aren't allowed to work independently and aren't formally recognized. But the landscape may be about to change.Arbitration at Arm's Length: Are U.S. Firms Missing an Opportunity in Asia?
International arbitration seems set to be a growth practice in Asia. But where are the Americans?Arbitration at Arm's Length: Are U.S. Firms Missing an Opportunity in Asia?
Asian arbitration is a growth industry. Yet American arbitration lawyers are scarce on the ground in Asia. Of the 10 firms that handled the most large arbitrations in 2009-2010, four have no arbitration partners based in Asia-Pacific countries. Other top-ranked firms have only a handful. Are U.S. firms missing out on an opportunity?O'Melveny, Paul Hastings Launch South Korea Offices
O'Melveny & Myers opened an office in Seoul on Monday, on the heels of Paul Hastings, which launched in the city last week, and Covington & Burling, which debuted there November 1. U.S. firms have been scrambling to get a foothold in South Korea's legal market after a free trade agreement created the opportunity earlier this year.Letter From Seoul: A City Not Exactly on the Edge
Asian Lawyer editor Anthony Lin is visiting Seoul this week, where he finds that the threat from North Korea looms both large and small.Trending Stories
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