Korean legal market valued

March 30, 2012 As the Korean legal services market opens up to foreign law firms – a result of free trade agreements recently concluded with the US and the UK – attempts are being made to discover the value of the market for the appraisal of international players.

Educated guesswork conducted by business news website InvestChosun indicates that the total value of the market is between two and three trillion won. At the head of the pack of Korean law firms is Kim & Chang, which took around 500 billion won ($440 million) in revenue last year, of which 200 billion won came from patent applications.

In second place was Bae, Kim and Lee, with a declared 170 billion won, while Shin & Kim and Lee & Ko each earned 135 billion won last year, and Yulchon brought in 115 billion won.

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