Firms in Korea and Myanmar collaboration
Korea's Yulchon has forged a collaboration arrangement with ZICO Law in Myanmar, building on historic ties between the two nations.
ZICO Law Myanmar, the Yangon-based member of the ZICO Law network, has entered into a collaboration with Korea’s Yulchon in order to serve Korean clients in Myanmar and vice-versa.
This collaboration comes two years after Yulchon established a Jakarta desk at Roosdiono & Partners, the ZICO Law network’s member firm in Indonesia. Yulchoni is Korea’s fifth-largest law firm according to the 2018 ALB Top 50 rankings, and already has an office in Yangon, led by partner Jang Bo Sung. The office is an important part of its Southeast Asia network, which also includes branches in Hanoi and Ho Chi Minh City in Vietnam and the desk in Jakarta. The ZICO Law network has member firms in 18 cities in all 10 ASEAN countries. ZICO Law Myanmar focuses on practice areas such as corporate commercial, mergers and acquisitions, insurance, projects, infrastructure and utilities, and real estate.
Korea has a long history in Myanmar, with the former becoming the first foreign investor in the latter back in 1988. According to Myanmar’s Directorate of Investment and Company Administration (DICA), Korea was the fifth-largest source of approved foreign direct investment in the Southeast Asian country, with approximately $254 million worth of FDI.