As more American firms trickle in, Covington's Park is worried that the legal marketplace in Korea may become oversaturated.
"The competition is already very tough," he said. "We are concerned, but we're fairly confident. We have a great practice to offer Korean clients."
Despite the crowded field, legal consultant Peter Zeughauser thinks there is a substantial appetite for big law in the country.
"Korea is a logical next step for firms that have gone into China and Japan," he said.