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.
- Financial and professional services
18 October 2018
17 December 2020