US firms have an official date for entry into Korean legal services market
US firms may legally enter and operate in South Korea from 15 March under the new free trade agreement.
Last week McDermott Will & Emery was the latest firm to announce its intention to open a Seoul office, joining a group that includes Cleary Gottlieb Steen & Hamilton, Paul Hastings, Sheppard, Mullin, Richter & Hampton, and Simpson Thacher & Bartlett.
British firms are also poised to enter the South Korean market after the European Union concluded a similar trade deal with South Korea last year, and Clifford Chance is the first UK firm to submit an application for the establishment of an office in Seoul.
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