DR Lee, a partner at leading international law firm Clyde & Co, is joining The Law Society’s trade mission to Korea which is taking place from 19-21 April. The firm, which has operated in Korea for more than 30 years, is joining the trade mission because of the massive growth potential this market offers.
The mission, which aims to strengthen relationships with local law firms, is taking place in light of the new EU-Korea Fair Trade Agreement to liberalise legal services, which is paving the way for UK firms to do more business within Korea.
DR Lee commented "We have always been fully committed to the Korean shipping industry and now there is the potential to further demonstrate our commitment to this market. We hope that this move to liberalise the market for legal services may present opportunities for us to provide an even higher level of service to our clients in the region.”
Nick Graydon, partner, who has acted for acted for most of the major Korean shipowners/operator companies says: "This is an interesting development which has been in the pipeline for a number of years. There are around one-tenth as many lawyers in Korea compared with the UK for a similar size in population, so there is great potential for legal services in this market."
Simon Culhane, partner, whose major clients include leading marine insurers in the Korean market added "Amongst the rapidly growing markets in Asia, Korea continues to increase its influence in the global shipping and marine insurance industries. It currently accounts for approximately one-third of world tonnage, and its vessels carry a high volume of seaborne trade. As a firm with our roots in the marine and insurance industries, we welcome the opportunity to build closer ties with the markets there.”