Law firm LKB and law firm Pyeongsan, both prominent in the Seochodong Legal Town, are set to merge. Comprised of attorneys with backgrounds as High Court chief judges and chief prosecutors, the two firms are expected to become a major law firm with around 120 experienced lawyers through the merger.
Seochodong "Legal Town" in Seoul, where offices of institutions such as the Seoul Central District Court and District Prosecutors' Office, as well as professions including lawyers and judicial scriveners, are concentrated. Photo by Heo Younghan
On April 28, LKB and Pyeongsan announced that they would sign a memorandum of understanding for a strategic merger on April 29 at the LKB Lounge in Jeonggok Building, Seocho-gu, Seoul. The tentative name for the new law firm is 'LKB Pyeongsan.'
LKB was established in 2012 by Lee Kwangbum, a former Seoul High Court chief judge who served as Director of Judicial Policy and Chief Secretary under Supreme Court Chief Justice Lee Yonghoon. Lee, who founded the Woori Law Research Association, served as special prosecutor in the "Naegokdong Scandal" involving former President Lee Myungbak, and more recently was part of the National Assembly legal team for the impeachment proceedings against former President Yoon Sukyeol. Other notable lawyers include Kim Heejun, a former prosecutor specializing in narcotics and violent crime, and Kim Jongbok, who served as Director of Judicial Policy at the National Court Administration.
Pyeongsan, founded in 2018, includes lawyers such as Kang Chanwoo, a former chief prosecutor of the Supreme Prosecutors' Office's Anti-Corruption Department known as a leading "special investigations" prosecutor; Yoon Woongul, a former chief prosecutor with expertise in public security and planning; and Lee Wongon, a former deputy chief prosecutor who played a key role in the investigation team for the Samsung Scandal. The firm brings together attorneys with a wide range of experience.
The merged firm will be jointly managed and will have around 120 lawyers. The firms have announced a goal of entering the top five law firms in Korea within five years.
Both sides have reached agreement on the major issues of the merger, and the final procedures are expected to be completed by the end of May.
Lee Kwangbum, managing partner of LKB, stated, "We will provide the highest level of service by combining practical experience and the expertise of specialists in each field." Yoon Woongul, managing partner of Pyeongsan, said, "Our brand alone will allow us to surpass the leading law firms," adding, "We will continue to pursue integration with other small and mid-sized law firms as well."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
