Pending approval from the Korean regulatory authorities, the office will be Baker’s 73rd globally and 15th in the Asia Pacific. Nam Hung Palik, Baker & McKenzie’s transactional lawyer will serve as the representative of the new office, the firm said earlier this week.
Baker & McKenzie has previously advised Korean companies on outbound investments, including a large shareholding sale by Thainox, Thailand’s largest stainless steel manufacturer, to POSCO in 2011.

Outbound asspirations

‘After many years of working with Korean clients in many parts of the globe, we will now have the opportunity to service our clients more efficiently and effectively with a base in Seoul,’ said Eduardo Leite, chairman of the firm’s executive committee. ‘Korean companies have been extraordinarily successful in expanding into international markets, and we look forward to continuing to assist them with their outbound aspirations.’
Meanwhile, English law firm Ashurst announced the opening of an office in Jeddah, Saudi Arabia last week, Legal Business Online reports. The firm plans to offer corporate services to the region and advise on energy, transport and infrastructure issues as the kingdom increasingly expands its markets to outside investment.