Baker McKenzie is significantly expanding the Firm’s capabilities in Korea through a historic joint venture with leading Korean law firm KL Partners.
Baker McKenzie & KL Partners Joint Venture Law Firm (“Baker McKenzie KLP JV”) has now received official approval from Korea’s Ministry of Justice and will officially launch in mid-October 2023. With more than 20 lawyers, the JV will become the largest international law firm in Korea by partner bench strength.
Baker McKenzie KLP JV marks an important strategic milestone in Baker McKenzie’s growth ambitions in Korea, and KL Partners’ ability to bring the best of international legal support and connectivity to its longstanding Korean client base.
Baker McKenzie KLP JV will be jointly run by Baker McKenzie Korea partner Jae-Hyon Ahn and KL Partners Managing Partner Beomsu Kim while Won Lee as the Head of the Korea Practice of Baker McKenzie will closely coordinate Baker McKenzie KLP JV, and Korea teams of Baker McKenzie located in other jurisdictions, from Baker McKenzie’s Hong Kong office.
Through Baker McKenzie KLP JV, clients will have access to both international and Korean legal advice spanning key practices across energy & infrastructure, cross-border arbitration & litigation and corporate/M&A, bolstering the Firm’s already strong client offering and bringing together an industry leading mix of partners, associates and business professionals.
The JV is an effective combination of already market proven and highly successful practices – particularly Baker McKenzie’s energy & infrastructure development and financing outbound practice (Band 1* in the Korea energy and natural resources sector for four years in a row) and KLP’s leading cross-border disputes and inbound corporate practices.
Combined with its Joint Operation platform in China, and strength in key markets including Japan, Singapore and across Southeast Asia, this launch reinforces Baker McKenzie’s position as the first and leading global law firm in Asia Pacific.
Milton Cheng, Global Chair, Baker McKenzie, said:
“In KL Partners, we have a leading full-service Firm with a strong client base, complementary practice areas and shared values. Providing a ‘one-stop shop’ approach in Korea, coupled with our deep presence in key markets that are important to Korean business will be a game changer for us and our clients in a market that remains an economic powerhouse and one that is opening up further to international investment, including in our own sector.”
Beomsu Kim, Managing Partner of KL Partners and Joint Representative of Baker McKenzie KLP JV, said:
“As we have worked to secure official approval for our joint venture and bring our two firms together, we have been impressed by the open, growth focused mindset, and collaborative spirit that Baker McKenzie has brought to the process. With their global reach, deep practice expertise, and world class client base, we are excited about what the future holds for our joint venture and clients.”
Won Lee, Head of the Korea Practice of Baker McKenzie, said:
“Korea is an important market for so many of our multinational clients, and being able to expand our offering for our clients through this joint venture makes perfect sense. We will now have a much greater ability to support our Korean multinational clients with their legal needs in Korea as well as other jurisdictions, and hence provide local law capabilities in all key markets across Asia, positioning the Firm as the first choice for legal support when expanding across the Asia Pacific region.”