Commercial Dispute Resolution > Seoul judge joins BKL while Korean corruption scandal rages
Seoul judge joins BKL while Korean corruption scandal rages
Published by: Andrew Mizner at 13/03/2017
Bae, Kim & Lee has recruited another former judge to its litigation team in Seoul, against a backdrop...
Bae, Kim & Lee has recruited another former judge to its litigation team in Seoul, against a backdrop of a deepening political crisis while Korea's corruption crisis deepens, with the impeachment of the president.
South Korean firm Bae, Kim & Lee has hired a former presiding judge of the Seoul Central District Court as a litigation partner.
Seong Soo Kim had been a judge since 1998 in the Seoul Administrative Court, as well as district and high courts around South Korea, including as a research judge at the Supreme Court.
The firm's managing partner Sungjin Kim said in a statement: "We believe the addition of such reputable and skilful attorney will greatly contribute to bolstering BKL's litigation practice and reaffirming the firm's position as the leading litigation powerhouse in Korea."
The firm, the second-largest in South Korea after Kim & Chang, has regularly recruited from the Seoul bench for its litigation practice. In 2015 it was joined by Jung Il Moon from the Seoul High Court, a specialist in financial, insurance and real estate disputes, while in 2014, it hired a trio of judges to the litigation and intellectual property groups.
Korean firms are facing more competition than ever before, as international firms were finally allowed to practice in the domestic market from last year, a market in which litigation is by far and away the most popular form of dispute resolution.
Two years ago, the firm became the first Korean firm, and only the second from Asia, to open an office in Dubai.
PRESIDENT IMPEACHED
Elsewhere in Seoul, South Korean president Park Geun-hye was impeached on Friday 10 March, as a court upheld a decision made by parliament in December.
Park has been facing allegations of corruption surrounding her close relationship with spiritual advisor Choi Soon-sil and the scandal has spread into the business world, with the implication of the industrial giant Samsung.
The company's headquarters was raided by investigators last year and vice-chairman Lee Jae-yong has been charged with corruption, accused of paying Choi's organisation in return for government support for a controversial deal which restructured Samsung in order to secure its continued family ownership, against the wishes of other shareholders and its own chief executive.
Lee has been the de facto head of the Chaebol (conglomerate) since Lee Kun-hee, his father, suffered a heart attack in 2014. The Chaebol and its affiliates are involved in numerous industries, including, electronics, technology, heavy industry and insurance, and account for up to a fifth of the nation's economy.
Samsung has already admitted making payments to Choi's foundations and supporting Choi's daughter in her equestrian career.
South Korea has had a long struggle with corruption at a political and business level. Several of Park's predecessors, and numerous other political figures, have been embroiled in scandals over the years, while extensive gifts and hospitality have been an everyday part of business life.
However, a recent law passed in September 2016 has imposed strict new standards, which if enforced, would significantly alter the business and political culture.
"The paradigm of government relations will change due to the enforcement of the Kim Young-ran law," a Bae, Kim & Lee spokesperson told CDR last November.
Latest Print Edition
CDR Spring 2019
Subscribe to CDR
Subscribe now and access all of CDR's daily news and analysis, complete with a full archive of all articles and PDF back issues of CDR magazine.
Five names for IAC
The International Arbitration Centre's conflict-free arbitration list has its first names on the board, with a list notable for gravitas and diversity, as well as deep legal expertise.
Xavier Grange | 28 January, 2020
Arbitration Chambers sets up in New York
The addition of Jean Kalicki and Lucy Reed adds weight to the arbitration-only set, as it adds North America to London and Hong Kong as its areas of influence.
Quinn gains NY sovereign and insolvency disputes duo
A partner and counsel have brought their high-level sovereign litigation and insolvency litigation practices to Quinn Emanuel from Dechert in New York.
Andrew Mizner | 27 January, 2020
Brussels boosted by Reed Smith arrivals
The US-headquartered firm opens its latest office in the Belgian capital, with a five-partner hire, focused on competition, EU regulatory and trade law.
FCA appoints interim chief
The Financial Conduct Authority's director of strategy will take over as the interim CEO once Andrew Bailey departs to become Governor of the Bank of England.
Wu joins Paul Hastings in Asia
Paul Hastings has boosted its white-collar crime practice with hire of experienced investigations lawyer in Hong Kong.
Litigators on the move in Hong Kong and Singapore
Gibson Dunn, Eversheds Sutherland and CMS have been stocking up on Asian litigators, with white-collar expertise at a premium in both Hong Kong and Singapore.
Beating one's head against a wall
Jason Hungerford and Thomas Ajose of Mayer Brown look at the identification principle obstacle to financial crime enforcement.
Jason Hungerford|Thomas Ajose | 22 January, 2020
EXCLUSIVE: International Arbitration Centre to build own arbitrator list 01/07/2019
Mueller colleague joins Cooley 01/07/2019
New partners for Baker McKenzie 28/06/2019
Life in the Silver Circle 27/06/2019
LIDW19: Commercial qualities key to London's success 08/05/2019
Jenner & Block adds ex-SEC New York director 25/03/2019