Korean firm Daeryun to open first overseas office in New York

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Daeryun, which is a Korean law firm established in 2018, has chosen New York as its first overseas office outside South Korea.

“New York is the centre of the international legal market, where global law firms converge and compete fiercely. In order to demonstrate that the capabilities of Korean law firms are effective on the world stage, we have chosen New York as our strategic first entry point,” Kukil Kim, the managing partner at Daeryun, told Asia Business Law Journal on why his firm chose the US city.

Kim said existing Korean law firms tended to prioritise achieving short-term profitability and reducing operating costs, which led them to favour the Southeast Asian region when expanding overseas for the first time. None of the traditional Big Six firms in Korea – Kim & Chang, Lee & Ko, Bae Kim & Lee, Yulchon, Shin & Kim and Yoon & Yang – maintain offices in North America.

“We will primarily focus on providing corporate clients with advisory services on international transactions and overseas expansion and entry,” said Kim. Conversely, the firm will also provide a range of solutions for US and other foreign companies entering the Korean market, including domestic market analysis, entry strategy development, permit procedures, and legal advice on labour and taxation.

Kim added that instead of limiting itself to the existing Korean client base, the firm would target companies and individuals of all nationalities within the US as prospective clients. Accordingly, it plans to hire local attorneys directly.

The New York office is scheduled to begin operations between June and August with a team of two to three attorneys holding US bar qualifications.

When asked on the opening of additional overseas offices, Kim said: “Market research and partnership discussions concerning major cities in Europe and Asia are currently underway internally including those in the UK, Germany, Singapore and Japan, as well as the Southeast Asian market.”

In 2024, Daeryun recorded revenue of KRW112.7 billion (USD81 million), ranking it among the top 10 law firms in Korea by revenue for the first time.

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Daeryun Law Firm, established in 2018, chose New York as its first overseas office outside of Korea.

Regarding the reason for choosing New York, Daeryun's managing attorney Kim Kook-il told the Asia Business Law Journal, "New York is the center of the international legal market where global mega law firms gather and compete fiercely. We chose New York as our first strategic location to prove that the capabilities of Korean law firms are effective in the global market."

Representative attorney Kim said that in general, Korean law firms tend to prefer the Southeast Asian region by first considering securing short-term profitability and reducing operating costs when initially expanding overseas. Korea's six traditional law firms, Kim & Chang Law Firm, Gwangjang Law Firm, Pacific Law Firm, Yulchon Law Firm, Shin & Kim Law Firm, and Yoon & Yang Law Firm, all do not have offices in North America.

Representative attorney Kim said, “First of all, we will make international transactions and overseas expansion/entry advice for corporate customers our core business.” Conversely, for the entry of American and other foreign companies into the Korean market, we plan to provide a variety of solutions, including domestic market analysis, entry strategy establishment, licensing procedures, and labor and tax-related legal advice.

Representative attorney Kim also added that he will not limit himself to the existing Korean customer base but will target companies and individuals of all nationalities in the U.S. as potential customers. Accordingly, we plan to directly hire local lawyers.

The New York office is scheduled to begin operations between June and August with a team of two to three attorneys licensed to practice as U.S. attorneys.

In response to a question about opening additional overseas offices, CEO Kim said, “Currently, internally, market research and partnership discussions are in progress for major European and Asian cities such as the UK, Germany, Singapore, and Japan, as well as Southeast Asian markets.”

Daeryun recorded sales of 112.7 billion won in 2024, entering the top 10 law firms in Korea by sales for the first time.

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