1/25/2008

Korea Needs More than 4000 New Lawyers per Year

A Korea Development Institute (KDI) report, published on January 14, 2008, strongly asserts that Korea is in need of at least an additional 4000 new lawywers per year.

The KDI report claims that between 1977 and 2006 lawsuits increased by about 13% to 14% per year, while the increase in the number of lawyers only increased by 8.4%, thus, creating a derth in supply.

The KDI report furthur claims that over the past 30 years lawyer incomes have consistently increased, thus, claiming to have dispeled the myth that the market is saturated.

The KDI proposes increasing the number of graduate law school students to 4000 per year in order to meet demand.

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SeanHayes@ipglegal.com