It’s been a whirlwind year for our Seoul office, with major personnel changes and managing the COVID-19 pandemic, but Office Executive Partner Ji Hoon Hong believes the team is stronger for it.

Regulations in South Korea mean that international firms aren’t permitted to practice Korean law, so the office’s focus is naturally cross border.

Ji says: “Most of our work involves advising Korean clients on their investments and matters overseas, but we also handle inward investment from international clients.

“This includes ongoing work on several off-shore windfarm transactions, where we’re helping our colleagues in Singapore and Australia.”

The office has also been working on liquified natural gas and petrochemical-related projects in the United States and Africa, while it continues to represent Korean sponsors in developing or financing projects in Indonesia and Pakistan to name a few.

Ji adds: “We also assist our New York, London and Singapore teams in international arbitration or litigation matters. Examples include collaborating with our New York team with our representation of the Korean government in some high-profile International Center for Settlement of Investment Disputes (ICSID) cases and on a U.S. patent litigation for a Samsung Group company.

“We’re also involved in a domestic M&A matter that requires European Commission approval, so we’re collaborating with our Brussels office to get that done.”

The Firm opened the Seoul office in 2015 and, while it can’t offer legal advice on Korean laws, it does enlist the help of local firms when needed.

Ji says: “South Korea has a very outward looking, export-driven economy, which is a perfect match for the Firm’s strategic goals.

“Having a presence in Seoul is vital if we want to be considered a serious player in the South Korean market. If we didn’t have feet on the ground here, it would be a severe disadvantage.”

Ji joined the office from New York in late 2016 and was faced with the challenge of replacing three senior lawyers in early 2019.

He explains: “Losing three senior lawyers wasn’t easy, but we’ve since replaced them with a team that I believe is stronger and more diverse.

“It’s been a bit like assembling the Avengers, with the arrival of a new counsel, a new local partner and a new partner. We also have two terrific associates – Sebyul Chun and Mijin An. So, we’ve revitalized the team.”

Among the new senior appointments is Counsel Sarah Park, who specializes in project development and finance.

“Sarah was an important hire for us,” says Ji, “because increasing our strength in this area was one of our priorities over recent years.

“Local M&A Partner Won Sun Jung also brings incredible experience of dealing with local conglomerates in Korea, while our new M&A Partner, Dongho Lee, has a track record for successfully leading Korean practice at another international firm.”

The office is already reaping the benefits of all these appointments, receiving new mandates from Korean household names such as LG Group, SK Group and Hyosung Group, a significant new M&A mandate, which will see the Seoul office work in collaboration with our team in Hong Kong, and a new international trade matter, which our colleagues in Washington, D.C. and Tokyo will work on together with the Seoul office.

It has also attracted several new clients on the project development and finance side.

“The past 12 months have seemed like a long and winding road as we’ve rebuilt,” says Ji, “but we’re stronger and better for it. I’m very happy with where we are.”

As with much of the world, the current pandemic has brought a new challenge to the South Korean market and society.

Ji says: “It’s obviously caused a lot of fear and uncertainty, but I think we’ve been extremely fortunate because the Korean government and healthcare system operated so well to flatten the curve and keep the number of cases down.

“From an office point of view, we also benefitted from advice from our colleagues in China, who went through the pandemic earlier and shared their experiences, so we were able to prepare in advance.”

The office did move to homeworking during the peak of the pandemic from mid-February to mid-April, but the advantage of being such a small team was that everyone could easily stay in touch through virtual town halls, calls or emails, and appreciate the personal needs and circumstances of each person.

Ji says: “This meant that, when we did return to the office, we could offer a bespoke solution on a case-by-case basis, considering childcare and avoiding peak commuting hours.

“While we know there could be future spikes in the virus, we’re happy with our response so far.”

The pandemic did result in an unusual induction for Partner Dongho Lee, whose early days with the Firm were impacted when he was quarantined for two weeks on his return from a trip to the United States.

Ji says: “The pandemic meant we introduced Dongho to the team via a Webex call, but we did give him a proper welcome when the office re-opened and we’re delighted to have him on board.”

Ji believes that COVID-19 will be the biggest source of uncertainty for the Korean market and the office in the coming months.

He says: “The immediate challenge is how major South Korean businesses adapt to the new business environment that emerges from the pandemic.

“Like elsewhere, the economy took a serious hit and companies are having to re-consider their business strategies, investment plans and priorities. All this uncertainty will need to work itself out before we get a clearer picture of the situation.

“From a client perspective, we’ll need to be proactive and identify and adapt to our clients’ new needs – something I am sure all our offices are doing.

“Thankfully, I believe we have a great team in place to achieve that.”

While Ji only joined the Seoul office in 2016, he was born and raised in South Korea and attended the office’s opening reception in 2015 because, by chance, he was on holiday in the country at the time.

He says: “I moved to the United States as a college freshman so, while South Korea is my home country, I sometimes still feel like a stranger in my own town.

“My wife and I were well settled in America and had no plans to return to Asia until my then practice group head raised the idea during a roadshow event we were running in the region.

“To my surprise, I was open to the idea and, when the opportunity came up, we relocated, arriving at the Incheon airport with just ourselves and a few big suitcases ready for a new start.

“I’ve not regretted the decision at all, especially now we’ve finished rebuilding and developing the team.

“We also have an incredible Business Services team, led by our excellent Operations Manager Eunjung Park, who has excelled during the current pandemic and the office space expansion of last summer.

“Of course, the office is very different from New York in terms of the role I’m doing and the size of the office. Being given this opportunity seems almost like starting a new career, but I’m relishing the task and looking forward to the future.

“We may only be a small office, but we’re on the cutting edge of the Firm’s wider strategy.”