The JV will become the largest international law firm in Korea by partner bench strength
Baker McKenzie is significantly expanding the firm’s capabilities in Korea through a joint venture with Korean law firm KL Partners. The firm is the second to receive approval for a JV in South Korea, following Ashurst which launched in the country last year.
The partnership – dubbed Baker McKenzie KLP JV – has now received official approval from Korea’s Ministry of Justice and will launch in mid-October, 2023. With more than 20 lawyers, the JV will become the largest international law firm in Korea by partner bench strength, according to Baker McKenzie.
The JV will be jointly run by Baker McKenzie Korea partner Jae-Hyon Ahn and KL Partners managing partner Beomsu Kim, while Won Lee as the head of the Korea practice of Baker McKenzie will closely coordinate the JV, and Korea teams of Baker McKenzie located in other jurisdictions, from Baker McKenzie’s Hong Kong office.
Through Baker McKenzie KLP JV, clients will have access to both international and Korean legal advice spanning key practices across energy & infrastructure, cross-border arbitration & litigation and corporate/M&A.
“In KL Partners, we have a leading full-service firm with a strong client base, complementary practice areas and shared values,” said Milton Cheng, global chair, Baker McKenzie.
“Providing a ‘one-stop shop’ approach in Korea, coupled with our deep presence in key markets that are important to Korean business will be a game changer for us and our clients in a market that remains an economic powerhouse and one that is opening up further to international investment, including in our own sector.”
Kim added: "As we have worked to secure official approval for our joint venture and bring our two firms together, we have been impressed by the open, growth focused mindset, and collaborative spirit that Baker McKenzie has brought to the process. With their global reach, deep practice expertise, and world class client base, we are excited about what the future holds for our joint venture and clients.”
