Business of Law
McDermott Plans to Open an Office in South Korea; Trade Agreement Allows Foreign Firms
Posted Feb 14, 2012 11:09 AM CST
By Debra Cassens Weiss
McDermott Will & Emery is planning to take advantage of a recently ratified trade agreement that allows foreign law firms to open offices in South Korea.
McDermott announced today it plans to open an office in Seoul, making it one of the first Western law firms in the country, according to a press release. Bloomberg, the Lawyer and the Chicago Tribune have stories.
The firm’s co-chairman, Jeffrey Stone, said in a press release that his law firm is on “the leading edge of what promises to be a wave of new activity in South Korea.” McDermott will focus on transactions, intellectual property and international trade matters originating within the country, Bloomberg says.
The office will be headed by In-Young Lee, head of the firm’s Korea practice group.
Several other firms are planning to open offices in South Korea later this year, the Lawyer says. They include Cleary Gottlieb Steen & Hamilton; Paul Hastings; Sheppard Mullin; and Simpson Thacher & Bartlett.