Law firms YK and Daeryun, leading representatives of the "network law firm" model that establishes branch offices in major hubs nationwide and maintains a cooperative system, each surpassed 100 billion KRW in revenue last year. YK showed a growth rate of 96.7% compared to 2023. In addition to ranking among the top domestic law firms by number of affiliated lawyers, their revenue also expanded significantly.
YK's 2024 revenue (based on National Tax Service VAT filings) was 154.7 billion KRW, approximately double the 78.6 billion KRW recorded in 2023.
When YK transitioned from a legal office to a law firm in 2020, its revenue was 24.9 billion KRW, steadily increasing to 46.1 billion KRW in 2021 and 53.2 billion KRW in 2022.
The main factors driving revenue growth include the firm's existing strengths in individual criminal cases and the contributions of the Fair Trade Group led by Representative Attorney In-Seok Lee, who joined last year. Additionally, collective litigation representation for Hong Kong Equity-Linked Securities (ELS) investors and legal advisory services for the Payment Gateway (PG) association related to the TMON and WEMAKEPRICE incidents also contributed.
The Family, Inheritance, and Business Succession Center led by Representative Attorney In-Gu Bae and the Tax Group headed by Representative Attorney Man-Soo Han also achieved results that propelled revenue growth.
Daeryun's revenue last year was reported at 112.7 billion KRW. However, Daeryun did not disclose its previous revenue figures.
Daeryun is also known to have expanded its corporate case response by recruiting a large number of lawyers experienced in corporate matters.
The sharp revenue increases of the two firms are expected to impact the rankings of domestic law firms. Based on last year's revenue, Kim & Chang Law Office (estimated 1.5 trillion KRW), Kwangjang (411.1 billion KRW), Bae, Kim & Lee (391.8 billion KRW), Yulchon (370.9 billion KRW), Sejong (369.8 billion KRW), and HwaWoo (250 billion KRW) lead the market, with YK ranking 7th and Daeryun (112.7 billion KRW) ranking 9th, just after Jipyung (120.6 billion KRW).
By number of domestic lawyers, YK ranks 6th with 366 lawyers, and Daeryun ranks 9th with 255 lawyers.
Meanwhile, Law Firm Roel's revenue last year was 49 billion KRW, an 18.14% increase from 41.5 billion KRW the previous year. Roel's revenue has been steadily increasing annually, with 27.6 billion KRW in 2020, 36.4 billion KRW in 2021, and 39.9 billion KRW in 2022. The rise in Roel's revenue is attributed to the expansion of litigation and an increase in corporate cases.
Reporter Suhyun Han, Law Times
Reporter Hyun Ahn, Law Times
※This article was created using content provided by Law Times.
※This article is based on content supplied by Law Times.
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