Amid fast-shifting economic and political winds in Korea, leading law firms like Bae, Kim & Lee LLC are taking dynamic strides to adapt. And these successful strategies are exemplified by BKL’s 500 lawyers.
Outward bound: As Korean industry pivots to Southeast Asia and other regions for manufacturing and new markets, BKL opened offices in Dubai, Hong Kong and Vietnam in 2015 and in Myanmar in 2016, on top of long-established offices in Beijing and Shanghai.
Rapid specialization: BKL has been quick to master and gear up for newer, expanding areas of regulation in Korea, such as fintech, data privacy, anti-corruption, environmental and biotechnology. When Kakao Bank launched as Korea’s first internet-only bank in 2017, BKL led the way with its experts in areas like data security and financial regulation. With business-specific teams ranging from ecommerce to renewable energy, BKL has seen its work swell by 30 percent since 2014.
Targeting innovation: Alert to looming changes, BKL had already formed a blockchain regulation team long before the recent cryptocurrency surge.
In 2018, the firm branched into the Pangyo “techno-valley” outside Seoul to serve the burgeoning cluster of high-tech leaders and startups. With each passing month, legal advisors in Korea face a “brave new world.” Firms like BKL are rising to the challenge.