Enhancing Legal Collaboration: The Korea-Vietnam Practice Unit

In a significant move to bolster legal cooperation between South Korea and Vietnam, South Korean law firm Yoon & Yang has teamed up with Vietnam International Law Firm (VILAF) to create a dedicated Korea-Vietnam practice unit. This collaboration is designed to support Korean businesses navigating the increasingly complex legal landscape in Vietnam, showcasing a growing relationship between the two nations.

Strategic Secondment for Legal Excellence

Under this partnership, VILAF will host senior legal professionals from Yoon & Yang on secondment at its offices in Ho Chi Minh City and Hanoi. This arrangement facilitates knowledge exchange and ensures that Korean clients receive tailored legal services directly from experienced practitioners familiar with the local environment. By placing attorneys on the ground in Vietnam, both firms aim to enhance responsiveness and efficiency in addressing client needs.

Focused Expertise in Cross-Border Operations

The newly established unit will concentrate on various areas critical to cross-border business operations. These include:

• Cross-Border Investments: As bilateral investments between Korea and Vietnam grow, the practice unit will provide crucial insights into the legal nuances of investing in either jurisdiction.

• Mergers and Acquisitions (M&A): Given the increasing trend of Korean firms acquiring Vietnamese companies, the legal framework surrounding M&A will be pivotal for clients in navigating these transactions successfully.

• Financing Transactions: With both countries witnessing dynamic economic growth, understanding financing regulations and options is essential for businesses looking to operate cross-border effectively.

• Dispute Resolution: The unit will also offer expertise in resolving conflicts that may arise in cross-border transactions, ensuring that clients have access to efficient and effective legal recourse.

Leadership Driving the Initiative

At the helm of this initiative is Zunu Lee, head of cross-border practice at Yoon & Yang. With extensive experience in M&A and investment matters involving both Korea and Vietnam, Lee’s leadership promises to be instrumental in fostering a collaborative environment that caters specifically to the needs of clients.

The Firms Behind the Initiative

Yoon & Yang, recognized as one of South Korea’s “Big Six” law firms, boasts a robust team of more than 550 lawyers and professionals. This vast pool of talent allows the firm to leverage diverse expertise across various legal sectors. On the other hand, VILAF stands out as one of Vietnam’s largest law firms, featuring 16 partners and over 100 English-speaking lawyers, which makes it well-positioned to cater to international clients.

Growing Korean Investment in Vietnam

This partnership comes amid a notable increase in Korean investment in Vietnam. In recent years, South Korea has established itself as one of the largest foreign investors in the Southeast Asian nation. The creation of the Korea-Vietnam practice unit not only reflects this growing investment trend but also signifies a commitment to enhancing cross-border understanding of legal practices.

Strengthening Professional Ties

At its core, this collaborative initiative aims to strengthen the professional ties between Yoon & Yang and VILAF. By working closely together, both firms envision a more seamless integration of legal practices and enhanced client services, ultimately benefiting businesses from both countries.

The establishment of the Korea-Vietnam practice unit marks a pivotal development in the legal landscape of both nations, opening doors for a more interconnected and informed approach to legal services as the global economy continues to evolve.