Herbert Smith Freehills (HSF) opened in Seoul last month, becoming the third UK firm to open in Korea, after Clifford Chance and DLA Piper.
The office will be co-headed by London disputes partner Tony Dymond and Singapore corporate partner Lewis McDonald, both of whom are relocating to the region.
The Seoul office will primarily focus on outbound work. It opens with two partners, three associates and a paralegal.
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DLA Piper’s recent takeover of French corporate boutique Frieh Bouhenic is the most significant development in a spate of activity involving UK-based international firms in Paris at the end of the summer.
The international giant officially joined forces with the corporate firm on 1 October. Eleven-partner Frieh Bouhenic is ranked in the second tier for private equity in The Legal 500 EMEA, with a particular reputation for leveraged buyout work. Recent highlights include advising the consortium comprising Clayton, Dubilier & Rice, AXA Private Equity and Caisse de dépôt et placement du Québec on the acquisition of SPIE.
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Good news for senior associates in emerging markets: there are now more partners than ever being made up in Asia. If you are an aspiring associate in Asia or Australia you stand a much greater chance of making partner at a UK firm now than five years ago. According to data collected by LB, this year the UK’s top 25 firms made up 48 partners in Asia, compared to just 26 in 2008.
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Management at Dewey & LeBoeuf has reacted defensively to widespread partner exits in 2012, contending the firm’s position is ‘strong’ and that it will ‘meet its financial targets for the year’.
Dewey has already seen a mass exodus of partners from its business since the start of the year, with almost 70 partners having departed – one of the highest number of partner departures in such a short timeframe.
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DLA Piper has revealed plans to open a second London office this year, concentrating on the burgeoning technology startup community.
Simon Levine, the firm’s IP and technology global co-chair, said plans were to open ‘before the summer’, with the office likely to be located in the Tech City area of East London, near the Old Street roundabout.
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