Law Firms Mobilize Ahead of June Presidential Election

Ahead of the Presidential Election, Many Companies
Seek Advice on New Government Policy Directions
Law Firms Respond with New Teams and Strategies

#1. Company A commissioned a major law firm to analyze the direction of platform regulation under the next administration. The company specifically requested a focus on how the core elements of the 'Online Platform Fairness Act (Onple Act)' being promoted by the Democratic Party of Korea?namely, the pre-designation and regulation of large platforms?would impact businesses.

#2. Company B decided to submit a policy proposal to a candidate's campaign, believing that the recurring damages suffered by mid-sized and small businesses in the areas of fair trade and subcontracting must be addressed. The intent is to induce institutional reform by turning chronic on-site issues into campaign pledges. Company B sought advice from a small but strong law firm with extensive experience in fair trade law.

#3. Company C also approached a law firm with significant experience in regulatory reform, with a policy proposal in mind. The company wanted to share its concerns that insufficient environmental regulations are hindering corporate growth. Additionally, it believed that, given the increasingly serious issues of environmental rights violations and pollution, it would be beneficial to identify areas requiring regulation and incorporate them into policy.

With just 40 days remaining until the 6·3 presidential election, many companies are seeking policy advice from law firms. Major law firms, sensing that the "market has opened," are forming dedicated teams to quickly analyze the situation and devise tailored strategies for each stakeholder. Some small but strong law firms are directly advising candidate campaigns or submitting policy proposals in their areas of expertise to convey their clients' opinions.

Yulchon LLC is analyzing policy directions and regulatory scenarios based on the characteristics of each party and candidate, centering its efforts on its legislative support team. The firm also plans to officially launch a presidential election task force soon. A Yulchon representative stated, "Because this is an early presidential election with a very short campaign period, there is a high likelihood that issues in the economic and industrial sectors, which have been emphasized so far, will be reflected in campaign pledges."

HwaWoo LLC has established a 'Campaign Policy Response Headquarters.' The firm has analyzed each party's pledges and organized corporate response strategies. Through its newsletter on 'Policy Issues and Response Strategies Due to the Early Presidential Election,' HwaWoo highlighted key issues such as the potential expansion of labor-friendly policies, strengthened regulations on large corporations, industrial restructuring centered on digital and green industries, securing tax revenue, and tighter private equity fund regulations.

Shin & Kim LLC has also created a 'Presidential Election Advisory Task Force' within its legislative strategy advisory team. A Shin & Kim representative said, "We are already swiftly and thoroughly handling a wide range of tasks, such as preparing response strategies for the 2025 regular National Assembly session?the first government audit under the new administration?and budget-related work through our internal 'Finance TF.' Client satisfaction is high."

There are also cases where candidate campaigns directly request advice from law firms. Lee Hoyoung (44, 2nd Bar Exam), head of the legislative consulting and government affairs team at Jium LLC, said, "We are receiving many inquiries from campaign policy staff regarding campaign pledge items and regulatory reform proposals. Based on our ongoing advisory work for mid-sized and small businesses, we are communicating regulatory issues encountered on the ground to each party."

Pacific LLC has formed a 'New Government Policy TF' led by managing partner Oh Yangho (63, 15th Judicial Research and Training Institute class). The task force is providing clients with real-time analysis of policy changes under the next administration.

Gwangjang LLC is also providing advisory services such as analysis of major policy pledges and related laws through its RGA Solution Group in response to client requests. Jipyung LLC significantly expanded and reorganized its Public Policy Solution Center in January. The firm plans to systematically organize various policy proposals emerging during the presidential election period and to identify policies needed in the field.

Barun LLC is preparing a task force to address policy issues related to the presidential election. The firm plans to publish an analysis report as soon as candidates, policies, and pledges are finalized.

Daeryuk Aju LLC is preparing for the election through its election group, while Dongin LLC is preparing through its election case response team. Kim & Chang does not have a separate organization or task force, but responds flexibly to client requests as they arise, handling tasks by area of expertise.

An Hyun, Law Times Reporter

※This article is based on content supplied by Law Times.