• Opening of the Hermit Kingdom Liberalization of the Korean Legal Services Market Pursuant to the Korea-U.S. Free Trade Agreement
  • November 13, 2007 | Author: Brian C. Rupp
  • Law Firms: Drinker Biddle & Reath LLP - Chicago Office ; Drinker Biddle & Reath LLP - Philadelphia Office
  • South Korea remains one of the last countries in Asia to liberalize its legal services market. Currently, foreign law firms are prohibited from establishing offices in Korea, and lawyers with foreign licenses are not officially allowed to practice foreign law. Although there are approximately 400 foreign attorneys employed as "Opening of the Hermit Kingdom Liberalization of the Korean Legal Services Market Pursuant to the Korea-U.S. Free Trade Agreement" in various Korean law firms, they are not permitted to work independently and there is no formal registration system recognizing their status as foreign lawyers.