Korean firm Shin & Kim has opened another office in China four years after its debut in Beijing. In addition, the firm has merged with real estate firm Evergreen Law Group.

With its new Shanghai office, the firm is aiming to get closer to local clientele – both the Shanghai-based subsidiaries of Korean companies, and Chinese companies looking to invest in Korea – and target corporate, M&A and capital markets work. The office was launched in March this year after the firm received approval from Chinese authorities. Shanghai partner Byoung Seon Choe will be supported by a Chinese lawyer and lawyers from the firm’s China practice, based in Seoul. 

Shin & Kim said its opening was prompted by an expected growth in appetite by Korean corporate for investments in China. Trade is flourishing between the two nations – China last year became South Korea’s largest trading partner, taking 24% of its exports. The firm has represented clients such as Hyundai Heavy Industries, Kumho Asiana and STX Corporation on their Chinese corporate transactions.

The firm also bolstered its lawyer ranks and client roster after acquiring real estate boutique Evergreen Law Group early in January this year. All of Evergreen’s 32 lawyers have transferred, including ex-Shin & Kim lawyers Kyung Don Lee, Robert Young and Yong-Seok Park, who left for Evergreen four years ago.

It is understood that Evergreen lawyers chose the bigger firm in order to retain its bigger clients – the ‘economy of scale’ theory. “It was a good time to merge,” explained partner Robert Young. “Some of us all started off at Shin & Kim before we went off on our own. We’ve always [maintained] discussions with Shin & Kim about merging and now it was a good time to do that, because of the synergy between the two firms, and the [attraction] of Shin & Kim being a larger firm that provides the full scope of services,” he said.

Shin & Kim will now join fellow Korean firms Bae Kim & Lee and Jisung Horizon having a Shanghai office (another Korean firm, Lee & Ko, has an office in Beijing). But it isn’t the only Korean law firm looking across the Yellow Sea for more work – both Yoon Yang Kim Shin & Yu and Yulchon are believed to be in the process of planning China offices.

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