[Exclusive] Daeryun Law Firm stakes in New York… Building an office of 350 pyeong

US branch office opening as early as next month

Daeryun Law Firm will open a branch office in New York, USA, as early as next month.

According to the legal community on the 14th, Daeryun has rented an office in the One World Trade Center (1WTC) building located in Manhattan, New York, and is carrying out final work before opening, including renovating the interior, installing office equipment, and selecting and training permanent staff. We plan to open the office and begin operations as early as June, or at the latest, by August. The size of the office is 347 pyeong (approximately 1,147 m2).

1WTC is a new building built on the site where the World Trade Center collapsed in the September 11, 2001 terrorist attacks, and is the tallest skyscraper in the United States. Several global companies are located here, including financial services companies Ameriprise Financial and Carta, media group Condé Nast, large real estate company Dust Organization, and marketing company Stagwell.

This is the first time for a Korean law firm to move into 1WTC. Excluding some mid-sized law firms such as The Kim Law Firm, no law firms have established offices in New York. While major domestic law firms have opened branch offices mainly in Asia and Europe, Daeryun chose the United States, the center of world trade, as its first overseas expansion destination.

Park Dong-il, representative attorney at Daeryun, explained, “We want to jump into the advanced legal market and ultimately introduce an advanced legal system to Korea as well.” He added, “I think that only by having advanced services and a customer-oriented mind can we survive on the international stage and secure competitiveness in the legal market.”

The number of people who will reside at the U.S. branch office has not been determined. First, we hired 2 to 3 people and planned to increase them according to the speed of business expansion. Daeryun's U.S. office has all companies and individuals living in the U.S. as potential customers, not just Korean companies operating in the U.S. or Koreans who have immigrated to the U.S. For this reason, there are plans to directly hire a local lawyer. Currently, Daeryun's U.S. attorney includes attorney Mia Kim (Washington, DC).

Daeryun recently signed a strategic business agreement (MOU) with Korini, a comprehensive U.S. real estate platform, paving the way for its entry into the United States. Korini, headquartered in New York, is a company that provides comprehensive consulting ranging from real estate leasing and sales to corporate asset management and overseas expansion.
 

Reporter Jang Seo-woo (suwu@hankyung.com)

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[Exclusive] Daeryun Law Firm stakes stake in New York... 350 pyeong office to be built (link)