Foreign Legal Consultant Act Archives

US Law Firms Turn a Blind Eye to South Korean Legal Services Market, Despite Trade Deals

SEOUL, March 16 (Korea Bizwire) – Calls for reforms to the Foreign Legal Consultant Act are growing as current legislation is being criticized as ‘too restrictive’ for international law firms to venture into the legal services market in South Korea. No American law firms have applied for a joint venture partnership with a South Korean [...]

Korea to Open Legal Market and Allow Joint Venture Law Firms

SEOUL, Aug. 5 (Korea Bizwire) — Korea is expected to implement the third stage of law market reforms permitting the establishment of joint venture law firms between local firms and foreign law firms according to free trade agreements with the European Union and the United States. The Ministry of Justice announced on August 4 that it [...]