Bloomberg Law
June 12, 2019, 11:41 AM UTC

Wake Up Call: Korea Trade Deal Lets UK Firms Keep Seoul Offices Post-Brexit

  • A new trade deal lets four U.K-based firms keep their foreign legal consultant offices open in Seoul after the U.K. leaves the European Union. A no-deal Brexit could have forced the firms to close their offices, because under Korean law, for foreign law firms to have offices in Seoul, their home countries must have FTAs with Korea. Thanks to the post-Brexit free trade deal signed Monday by Britain and Korea, the firms Clifford Chance, Linklaters, Stephenson Harwood, and Allen & Overy can keep their offices operating, even in a no-deal Brexit scenario. Anglo-Australian Herbert Smith Freehills re-registered its Seoul office ...

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