Restrictions on overseas law firms practicing in South Korea
Trade barrier summary
In order for an overseas law firm to practice South Korean law, the firm must form a joint-venture with a Korean firm. The maximum foreign ownership permitted in such a joint-venture is 49% for overseas law firm to 51% for the South Korean law firms. This poses a risk to UK law firms, because they would have unlimited liability but little control.
Sectors affected
- Financial and professional services
Resolved
No
Date reported
18 October 2018
Last updated
17 December 2020
Public ID
PID-BQLXZG
If a trade barrier is affecting your exports or investment from the UK, please let us know on report a trade barrier .
If you export goods you can check duties and customs procedures for your chosen market.