The Korean legal services has just opened. The first UK law firm received its approvals to open an office in July 2012. The opening of the market will be staged over the next six years in line with the EU-Korea FTA.
Korea’s has one of the world’s oldest legal systems, which can trace its origins back over 5,000 years. The system as it exists today began in the late 19th century, and subsequently evolved under the influence of Japanese colonisers, and US in the immediate post-war period. A modern Korean legal profession is a relatively new phenomenon. While numbers of lawyers are rising rapidly; at the beginning of 2000 there were only 3,800 private practitioners and there are now over 6,600, the underdeveloped legal sector is still seen as a drag on the Korean economy.