South Korea is currently the third biggest investor in Indonesia (after Singapore and Japan) with an aggregate total investment of US$7.5 billion over the last five years (2012-2017) comprising some 7,607 projects in the country. Korean companies, including financial institutions, are actively working on ways to advance into Southeast Asia, and Indonesia has seen a rapid increase in demand for legal services.
In light of this trend, South Korean law firm Yulchon has announced it is establishing a ‘Jakarta Desk’ together with Roosdiono & Partners (R&P) in the Jakarta office of the latter, from which the firm’s attorneys will provide support and legal services for both Korean companies investing in Indonesia and vice versa. Yulchon’s Min Taek Lim (a US-qualified attorney) and Min Woo Baek, a Korean attorney fluent in Indonesian, will dedicate their time to the Jakarta desk from this June.
Founded in 1999, R&P is a leading Indonesian firm and member of ZICO Law, a network of independent local law firms with a full presence in all 10 ASEAN countries.
Yulchon is the first among the ‘big 5’ law firms in Korea to establish a Jakarta desk. The firm has taken a lead in engaging in overseas jurisdictions, having already established overseas offices in Vietnam, China, Myanmar and Russia. Yulchon was recently named the 2017 In-House Community Visionary Law Firm – Asia at an awards ceremony in Hong Kong.