Information

This barrier is unrelated to the end of the transition period, following the United Kingdom's departure from the EU.

Public ID: PID-BQLXZG

Restrictions on overseas law firms practicing in South Korea

in South Korea

Trade barrier summary

In order for an overseas law firm to practice South Korean law, the firm must form a joint-venture with a Korean firm. The maximum foreign ownership permitted in such a joint-venture is 49% for overseas law firm to 51% for the South Korean law firms. This poses a risk to UK law firms, because they would have unlimited liability but little control.

Sectors affected

  • Financial and professional services
  • Financial and professional services

Resolved

No

Date reported

18 October 2018

Last updated

17 December 2020

Public ID

PID-BQLXZG

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