If Korea and the EU swiftly ratify the tentative free trade agreement (FTA) they reached on Tuesday (24 March), will UK law firms open offices ahead of their US counterparts?
Not necessarily. Most of the lawyers who work in the Korea practices of magic circle and other major UK firms are US-qualified. So they may not benefit under the rules set out for Korea-based “foreign legal consultants” in a law recently passed by Korea’s National Assembly. Such consultants would not be permitted to practise Korean law, only their home country law.
