South Korea Braces For U.S. Law Firm Invasion

Law360, New York (November 10, 2006, 12:00 AM EST) -- Trade talks currently underway between the United States and South Korea are set to open the legal market in Asia’s third-largest economy to U.S. law firms, giving American lawyers a coveted foothold in Seoul and creating stiff competition for their Korean counterparts.

Bracing for the invasion, South Korean law firms have been eyeing mergers, hiring more lawyers and adopting U.S. style partnerships to compete with the formidable size and efficient management of most U.S. firms, which boast hundreds more attorneys on average.

The trade talks began...
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