Kobre & Kim Is the Latest Am Law 200 Firm to Launch in Shanghai

Kobre & Kim is opening an office in Shanghai—its first in mainland China.

The move is somewhat unusual, as other firms established a presence in China at least a decade ago or more. Several have even taken steps to reduce their presence in China recently.

Law Firms Mentioned

[caption id="attachment_649" align="alignnone" width="620"]<img class="wp-image-649 size-full" src="http://www.almcms.com/contrib

Clifford Chance
Fangda Partners

/uploads/sites/396/2017/10/Shaun-Wu-Article-201710241940.jpg" width="620" height="372" /> <i>Shaun Wu</i>[/caption] Kobre & Kim is opening an office in Shanghai��its first in mainland China. The move is somewhat unusual, as other firms established a presence in China at least a decade ago or more. Several have even taken steps to reduce their presence in China recently. But Kobre & Kim has waited until now to move to the mainland. Partner Shaun Wu, who has relocated from Hong Kong to lead the new, three-lawyer office, said this is the right time for the firm to do so, as it sees a niche opening in the market. "Unlike many other international firms, we didn't come to Shanghai following the firm's institutional clients," said Wu. "We are here to be what I call the first conflict-free disputes and investigations firm in Shanghai." Kobre & Kim is offering what Wu��describes as two unique products in Shanghai:�� independent internal investigations for multinationals operating in China; and dispute resolution for multijurisdictional joint venture disputes between Chinese and foreign parties. Under the internal investigations offering, Kobre & Kim is able to step in during a China-related Foreign Corrupt Practices Act investigation, when a client's regular counsel has a conflict; it also represents audit committees and special committees of the board of directors.��The firm gets referred to a case, Wu said, when the client needs a neutral, third-party, conflict-free expert of U.S. government investigations. To oversee investigations in Shanghai, Kobre & Kim recently hired <a href="https://www.kobrekim.com/people/wade-weems" target="_blank">Wade Weems</a>, a former��U.S. Department of Justice trial attorney in the national security division. Weems has started at the firm's Washington, D.C., office and will move to Shanghai in 2018. The second product targets Chinese companies' foreign joint ventures as they expand overseas. While the parties that form the joint ventures usually have regular panels of counsel, Wu said, there is a vacuum in representing the actual joint venture entities if disputes arise between the joint venture and the partners. Kobre & Kim's global reach also sets it apart. According to Wu, the firm's offices in the United States, the British Virgin Islands, Cayman Islands and Hong Kong create a unique mix of jurisdictions that��covers all the usual components in a Chinese business investing overseas. Like <a href="http://www.law.com/americanlawyer/almID/1202786569396/" target="_blank">Kobre & Kim's model in the United States</a>, the China practice also relies heavily on referrals from other law firms. The firm is not looking to take on all disputes originated from China, but wants to focus primarily on cases in the projects and infrastructure, technology, media and telecommunications and financial services industries. These sectors tend to have a higher demand for legal services and therefore are more likely to generate conflicts of interest. Founded in 2003 by former federal prosecutors Steven Kobre and Michael Kim in New York, the firm launched its first Asian office in Hong Kong in 2010, followed by a second��office in Seoul two years ago. Wu said the firm has been preparing for a Shanghai launch for a long time because a large part of its Asian business is China-related. "Our work requires us to be on the ground in mainland China," said Wu, who has been covering China from Hong Kong since joining the firm in 2012. "Hong Kong has a different legal system after all,"��he said. "And more importantly, the business culture is different." Although Kobre & Kim does not practice Chinese law in Shanghai, it is still��necessary for investigations lawyers to��be familiar with the Chinese regulatory system, Wu explained. "If your investigations team don't have the understanding of Chinese business culture and regulations, you will miss a lot of things," he said. Also relocating from Hong Kong along with Wu is <a href="https://www.linkedin.com/in/nan-wang-53906611/" target="_blank">associate Nan Wang</a>. Wang, a Shanghai native, studied law at Shanghai's��East China University of Political Science and Law before earning a J.D. from the University of Wisconsin Law School. The New York-based��litigation boutique received approval from the Chinese Ministry of Justice to open the��office this fall��about a year after it first applied. Kobre & Kim's latest office joins Magic Circle firm Clifford Chance, and top Chinese firms JunHe and Fangda Partners, at Shanghai's newly renovated��Grade-A office space HKRI Taikoo Hui on the upscale West Nanjing Road. Not only is Kobre & Kim at least a decade later than most global firms in mainland China, it opened its Shanghai office at a time when several firms have either <a href="http://www.law.com/almID/1202783088513/" target="_blank">scaled back��in China or exited entirely</a>. Last year, New York's��<a href="http://www.law.com/americanlawyer/almID/1202768898164/" target="_blank">Cadwalader</a>, Wickersham & Taft and Chicago's��<a href="http://www.law.com/almID/1202787331315/" target="_blank">Winston & Strawn</a> both closed their Beijing offices (Winston still has a Shanghai office). The year before, legacy Chadbourne & Parke and��Fried, Frank, Harris, Shriver & Jacobson closed doors in Beijing and Shanghai, respectively. This year, Kobre & Kim made its debut on the Am Law 200 list with $101 million in revenue. But co-founder Kim told The American Lawyer earlier this year that growth was not something his firm actively pursued. The 27-partner firm reported $1.93 million in profit per partner in 2016. Kim, who splits his time between Seoul and New York, was closely involved in the opening of the Shanghai office. "China is a key part of our Asia business," said Kim, adding that the demand in the region for the firm's specialized��products��has been increasing. Most partners saw Shanghai as a logical progression of what��the firm has been doing in Hong Kong for the past seven years, since most of the firm's cases are cross-border in nature, Wu said. "Everyone has a vested interest in what the Shanghai office brings in," he said. <

Clifford Chance
Fangda Partners

Trending Stories

The 2024 Am Law 100: Ranked by Gross Revenue

The American Lawyer

The 2024 Am Law 100: Ranked by Profits Per Equity Partner

The American Lawyer

The 2024 Am Law 100: Ranked by Revenue Per Lawyer

The American Lawyer

The 2024 Am Law 100: Ranked by Average Compensation - All Partners

The American Lawyer

Weil Revises Partner Pay Criteria, as Firm Plots Leadership Succession

The American Lawyer

People, Places & Profits, Part III: Are Law Firm Financial Metrics Keeping Pace With Inflationary Growth?

People, Places & Profits, Part II: A Look at the Geographic Destinations of the Am Law 200

A Tragic Death: How Should Big Law Respond to the Industry's Mental Health Crisis?

Featured Firms

Law Offices of Gary Martin Hays & Associates P.C.
75 Ponce De Leon Ave NE Ste 101
Atlanta, GA 30308
(470) 294-1674
www.garymartinhays.com

Law Offices of Mark E. Salomone
2 Oliver St #608
Boston, MA 02109
(857) 444-6468
www.marksalomone.com

Smith & Hassler
1225 N Loop W #525
Houston, TX 77008
(713) 739-1250
www.smithandhassler.com

Presented by BigVoodoo

More From ALM

There is no one-size-fits-all model for legal remote work, but there are some considerations that are important for every firm and legal department to address before choosing whether to adopt or update a remote work framework.

The Ultimate Guide to Remote Legal Work

Brought to you by Filevine
Download Now

Gain a comprehensive understanding of the Corporate Transparency Act (CTA) and its implications for law firms and their clients.

Law Firm Operational Considerations for the Corporate Transparency Act

Brought to you by Wolters Kluwer
Download Now

As generative artificial intelligence inspires one of the biggest transformations in generations, Practical Guidance continues to provide the latest tips to help you prepare for the rapid evolution in the way attorneys work.

Practical Guidance Journal: Protecting Work Product in a Generative AI World

Brought to you by LexisNexis®
Download Now

Premium Subscription

With this subscription you will receive unlimited access to high quality, online, on-demand premium content from well-respected faculty in the legal industry. This is perfect for attorneys licensed in multiple jurisdictions or for attorneys that have fulfilled their CLE requirement but need to access resourceful information for their practice areas.
View Now

Team Accounts

Our Team Account subscription service is for legal teams of four or more attorneys. Each attorney is granted unlimited access to high quality, on-demand premium content from well-respected faculty in the legal industry along with administrative access to easily manage CLE for the entire team.
View Now

Bundle Subscriptions

Gain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. Our second option allows you to build your bundle and strategically select the content that pertains to your needs. Both options are priced the same.
View Now

From Data to Decisions

Dynamically explore and compare data on law firms, companies, individual lawyers, and industry trends.

Exclusive Depth and Reach.

Law.com Compass includes access to our exclusive industry reports, combining the unmatched expertise of our analyst team with ALM’s deep bench of proprietary information to provide insights that can’t be found anywhere else.

Big Pictures and Fine Details

Law.com Compass delivers you the full scope of information, from the rankings of the Am Law 200 and NLJ 500 to intricate details and comparisons of firms’ financials, staffing, clients, news and events.

Middle East Legal Awards 2024

April 25, 2024
Dubai

Law firms & in-house legal departments with a presence in the middle east celebrate outstanding achievement within the profession.

Learn More

BenefitsPRO Broker Expo 2024

April 29, 2024 - May 01, 2024
Aurora, CO

The premier educational and networking event for employee benefits brokers and agents.

Learn More

Pennsylvania Legal Awards 2024

May 15, 2024
Philadelphia, PA

The Legal Intelligencer honors lawyers leaving a mark on the legal community in Pennsylvania and Delaware.

Learn More