Baker McKenzie and Korean Law Firm KL Partners Launch Joint Venture
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.
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 are confident that our ability to provide one-stop global legal services will be of great benefit not only to Korean companies, but also to many Japanese companies. We’re excited by the opportunity afforded by closer economic ties between our two countries to offer our clients world class legal support and help them achieve their business objectives.”
“The creation of the Baker McKenzie KLP JV reinforces the strength of Baker McKenzie’s unrivaled global network,” added Akifusa Takada, Co-Managing Partner of Baker McKenzie’s Tokyo office.” We look forward to working with our new Korean colleagues to provide multifaceted legal services to Japanese and Korean multinationals so that we can further their success on the global stage.”
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Please refer to our global press release for more details.