In an era when most businesses have become transnational, Seoul-based law firm Yulchon LLC has carved a good field by connecting its local and international clients through close collaboration.
“Our law firm was established in 1997 and celebrated its 25th anniversary last year. We may not be the oldest firm (in South Korea), but we are one of the fastest-growing ones,” said Managing Partner Hee Woong Yoon.
One of Yulchon's standout initiatives was setting up an IRA-CHIPS Act Center after the United States passed the Inflation Reduction Act and the CHIPS and Science Act in 2022.
The center, a “one-stop shop” headed by specialists in taxation, intellectual property, energy, environment, social and governance issues, assists Korean companies in navigating new territory in U.S. business created by the two laws.
“Instead of opening our own offices abroad, we collaborate with global and local law firms. We believe this approach is faster and more efficient in serving the various needs of our clients, leveraging the existing expertise and networks of these firms,” Yoon said.
By covering new, emerging industries, Yulchon LLC helps its clients thrive in a rapidly evolving global landscape. Its IRA-CHIPS Act Center is reflective of a firm commitment to stay on top of the industry.
