Competition to Hire Expert Lawyers to Strengthen Entertainment Sector Capabilities
Rising Demand for Celebrity Legal Advice
Emerging as a 'Blue Ocean' Opportunity
Law firms are actively recruiting entertainment-specialized lawyers as the entertainment industry has emerged as a new growth sector. Recently, law firm Yulchon strengthened its entertainment-specialized lineup by recruiting attorney Choi Jeong-hwan, who represents the "first generation" of the entertainment industry.
According to a report by Legal Times, attorney Choi Jeong-hwan (63, Judicial Research and Training Institute class 18) recently moved from Kwangjang to Yulchon. Choi, a founding member of Yulchon, is returning to his original firm after 27 years. Choi began his legal career in 1989 at Kim & Chang, then worked at Yulchon in 1997, DooWoo in 1998, and has been at Kwangjang since 2012. In the 1990s, as the domestic entertainment market opened up and foreign music and films flooded in, he handled work for overseas companies such as Warner Bros., Walt Disney, and Sony Music. In addition, he provided legal services for celebrity lawsuits, agencies, record companies, and broadcasters, earning recognition as a "first-generation" entertainment lawyer.
Yulchon has recently focused on the growth of the entertainment industry centered on Korean content and is actively recruiting related experts. Yeom Yong-pyo (52, class 28), who led Yulchon's Sports & Entertainment Dispute Team, became the head of litigation, making talent acquisition more aggressive. Attorney Kim Moon-hee (49, class 34), recognized as a media and entertainment expert, also rejoined Yulchon earlier this year. Kim worked at Yulchon until 2015, then at Jipyung, and recently returned to her original firm. She is also the advisory lawyer for Adore, the agency representing the girl group NewJeans.
Major Law Firms Form Dedicated Entertainment Teams to Capture the Market
Including Yulchon, major law firms have been competing to strengthen their capabilities in the entertainment sector for about 15 years. They have expanded from small roles such as representing celebrities in personal lawsuits or providing legal advice to demonstrating expertise across the cultural industry, including overseas expansion of celebrities, content export, performances, copyrights, investment, and production consulting.
The explosive growth of the entertainment industry is the background for major law firms forming dedicated entertainment teams. K-pop idols are leading market expansion through generational change and development, and agency revenues are increasing annually. HYBE, home to BTS and others, recorded sales of 2.1781 trillion KRW and operating profit of 295.8 billion KRW last year. Compared to 2022, these figures increased by 22.6% and 24.9%, respectively, marking an all-time high. As of the 10th, HYBE's market capitalization was 8.3263 trillion KRW, ranking 50th among conglomerates, and it is the only entertainment company in the top 50. SM Entertainment, which houses NCT and aespa, posted sales of 960 billion KRW and operating profit of 115.4 billion KRW last year, up 13% and 27% year-on-year, respectively. JYP Entertainment, home to TWICE and Stray Kids, reported consolidated sales of 566.5 billion KRW and operating profit of 169.4 billion KRW in 2023, with sales up 63.8% and operating profit up 75.4% compared to the previous year.
Entertainment Centered on People and Content, a Blue Ocean for Law Firms
The law firm industry expects demand for legal services to increase as the entertainment market expands. Since entertainment centers on people and content, it is exposed to various disputes such as contracts, intellectual property rights, and copyrights. With YouTube, social media, and AI technologies, cases related to malicious commenters and fake news have increased, leading to more lawsuits and advisory needs to protect celebrities' rights.
Recently, legal responses have increased to catch malicious commenters who are difficult to identify due to being based overseas. A representative case is that of group IVE's Jang Wonyoung and her agency, who obtained personal information from a U.S. court with the help of a domestic law firm to punish a fake news YouTuber.
Attorney Noh Jong-eon (46, class 40) of law firm Jonja explained, "When defamatory facts spread through YouTube, the resulting stigma greatly damages a celebrity's image, so the trend in defamation cases has shifted to immediate and active responses on broadcasts."
Woo Bin, Legal Times Reporter
※This article is based on content supplied by Law Times.
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