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.
- Why are Legal Fees at Korean Law Firms Higher than New York and London: The Good, the Bad and the Ugly
- Alternative Legal Fee Arrangements at Korean-based Law Firms: Limited Scope Representation
- Korean Governmental Regulations Stifle Innovations and the Role of Korean Law Firms
- Top 10 Law Firms in Seoul, Korea for English-Speaking Foreigners According to 10 Magazine
- American Bar Association Forum on Franchising 2013: International Franchise Law and Korea
- Starting a Business in South Korea
- Korean Lawyers and Law Firms: One of the Most Comprehensive Lists of Attorneys in South Korea Capable of Handling the Needs of Expat Clients
- Abuse of Market Dominance in Korea: Competition Law in Korea
- Korean Trademark Act Revised: Korean Trademark Act of 2017
- Why are American Cars not Popular in Korea?: Decrease in Duties from FTA has not Helped Market Share