The Korea Herald had an interesting interview with Gregory Nitzkowski the managing partner of Paul Hastings.
Gregory Nitzkowski noted in the article that:
“It is not the dominance in the Korean legal market that we seek, but rather a firmer connection to our global clients, many of whom are Korean-based international companies such as the Samsung or SK Group. A market is usually in favor of the staus quo and changes for the unknown many come as a threat. It is natural for Korean law firms to feel a certain degree of alarm and change themselves accordingly, but the global precedents show that they need not be intimidated by the upcoming challenges.”
I have wrote numerous articles on how the introduction of competition will likely create better services for clients. I assume, for business clients, fees may also be reduced and more transparent billing practices will be implemented by these firms. Here are a few articles that appeared in the Korea Times and on this blog that may be of interest.
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