With the European Union’s passage of a free trade agreement with Korea, British firms are eager to move on Seoul ahead of their U.S. counterparts. Finding the right lawyers to go to Korea might not be so easy, though.
Ratified by the European Parliament in February, the E.U.-Korea FTA is widely expected to be passed by the Korean National Assembly in the next month or so. Once passed by both sides, the agreement will become effective July 1, after which E.U. firms will be able to open offices in Korea and operate there under that nation’s Foreign Legal Consultant Act. A Korea-U.S. FTA has been signed but not yet ratified by either side.
