Korean law firm Yulchon will launch its first Chinese office in Beijing later this month in response to increasing Sino-Korean cross-border transactions.
Yulchon partner Jeong Yeon Ho said that while the firm has been providing legal advice to Korean companies investing in China for some time, an office in the nation's capital will allow it to capture work emerging from Chinese companies looking to invest in Korea.
"Our goal is to target Chinese enterprises entering inbound to Korea," Jeong said. "In the short term, we would be looking to funding enterprises, representing financial institutions, banks and private equity funds because Korea has a lot of opportunities for investment."
Two sectors that the firm will be looking to tap include energy & resources as well as shipping work, including maritime financing.
The firm's Beijing office will initially be staffed with 10 lawyers and 3 partners. The firm's two other partners include a tax and a Chinese law specialist. The firm hopes to launch an additional office in Shanghai in three to four years time.
Yulchon, Korea's fifth largest law firm by headcount, launched its first overseas office in Vietnam (Ho Chi Minh) in 2007 and opened its second (Hanoi) in 2010.ALB
Other related stories: