Why are Legal Fees at Korean Law Firms Higher than New York and London: The Good, the Bad and the Ugly

I had a client note that their former Korean law firm was charging them double what they would have been charged in NY for a similar project.  This is not rare and the situation is, often, worse when litigation is involved.  A list of the best Korean law firms in Korea may be found at: 10 Best Law Firms in Korea. The Good: The Hourly Rates in Korea, normally, are Lower than Hong Kong, London, New York, Tokyo and Paris. Increased competition has brought down rates to levels equal to a decade ago. Korea is increasing the number of students that pass the bar exam. More international attorneys (American, British, German and Chinese) have entered the market, thus, increasing competition. More firms with international attorneys in Korean are capable of handling matters for foreigners. Competition is quickly bringing down the cost, however, foreign clients without knowledge of the market are

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