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Unpublished Paper
BARBARIANS AT THE LEGAL GATES: EXAMINING SOUTH KOREA'S PRE-EMPTIVE GLOBALIZATION POLICIES PRIOR TO LEGAL MARKET LIBERALIZATION
ExpressO (2012)
  • Jasper Kim, Ewha Womans University
Abstract
Many South Korean law firms saw the liberalization of the South Korean legal market, with an estimated size of approximately $3 billion (as of 2010), as a major risk factor given the negative experience of Germany and France, two markets that were dominated by foreign law firms following liberalization of their legal services markets. Cognizant of this, South Korean policymakers strategically structured the liberalization of South Korea’s legal market in a way that would maximize the benefits and mitigate the risks to local law firms. This article argues that the introduction of the nation’s three “pre-emptive” policies --1) a required Anglo-American course taught in English for all incoming Korean attorneys; 2) the passage of a Foreign Legal Consultant Act (“FLCA”) allowing foreign lawyers to practice law in their respective home jurisdictions in South Korea; and 3) the introduction of South Korea’s newly-created “American-style” professional graduate law school system--represented a deliberate strategic policy by the South Korean government to bolster the nation’s domestic law firm and law school core competencies for what was viewed as an inevitable opening of the nation’s legal services sector during a “barbarians at the gate” pre-liberalization era. By doing this, the South Korean policymakers’ objective was to mitigate the risk of possible market share domination of its local legal services market by foreigners and foreign entities
Keywords
  • liberalization,
  • legal services,
  • South Korea,
  • FTA,
  • free trade agreement,
  • law school education,
  • foreign legal consultant
Disciplines
Publication Date
May 10, 2012
Citation Information
Jasper Kim. "BARBARIANS AT THE LEGAL GATES: EXAMINING SOUTH KOREA'S PRE-EMPTIVE GLOBALIZATION POLICIES PRIOR TO LEGAL MARKET LIBERALIZATION" ExpressO (2012)
Available at: http://works.bepress.com/jasper_kim/1/