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법의 세계화와 로펌의 성장

Globalization of Law and Growth of Law Firms

이재협
법학연구소 (The Institute of Legal Studies Konkuk University)|2007.08|외법논집 (HUFS Law Review)|제27호|pp. 573-614|DOI 10.17257/hufslr.2007..27.573

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참고문헌

키워드

로펌법률시장 개방법률가세계화globalization법사회학sociology of lawlegal professionlaw firmliberalization legal markets
주제분류법학

초록

Abstract

For the last ten year, Korean companies have become internationally competitive in management and production capacity through foreign investment due to the rapid globalization. In order to meet the growing legal demands, companies began to hire outside law firms. A legal market in a true sense has not existed in Korea because the supply of lawyers were maintained through a supplier-centered system. Compared to other professionals, lawyers in Korea in the past tended to remain very narrow in occupational scope, but the situation is changing due to the increase of the number of lawyers and the growing complexity of the Korean society. This study shows that there were significant growths and changes in Korean law firms in the past decade. Korean law firms were the main beneficiary of the globalization. During the financial crisis, a significant volume of foreign capital was induced and a great number of mergers and acquisitions occurred. Due to the heavy legal demands, a small number of law firms, so-called 'Big 5' law firms, grew rapidly during the period. The current picture of law firms, however, shows very different outlook both in quantity and quality, compared to the past. The liberalization of legal markets, especially after the conclusion of Korea-U.S. Free Trade Agreement, will bring a big challenge for Korean law firms. Some leading law firms, such as Kim & Chang, will likely maintain monopoly status even with the fierce competition against foreign law firms, as they have adopted a unique way to solve legal problems based on the local legal culture. Most other law firms will undergo mergers or alliances with Korean or foreign law firms. The definitive 'culture' of law firms in Korea has yet to emerge. A more empirical studies on Korean legal professionals are needed to illuminate the Korean legal culture.

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