[Invest&Law] LKB Pyeongsan Law Firm Sheds 'Pro-Myung' Image, Competes with Expertise and Capability [Interview]

Interview with Kim Byunghyun, Managing Partner of LKB Pyeongsan
Launch and Joint Operation of New LKB Pyeongsan Law Firm
Track Record of Handling Cases for President Lee Jaemyung and the Democratic Party
"The Era of Connections Is Over... Law Firms Must Enhance Expertise"
Establishment of 11 Specialized Centers Including Finance and Virtual Assets
Goal to Enter Top 5 Law Firms Within 5 Years

"Just because a lawyer knows the president well does not mean a case will be resolved. It is not politics, but expertise and capability that solve cases."

Kim Byunghyun, CEO of the law firm LKB Pyeongsan, is being interviewed on the 17th at LKB Pyeongsan in Seocho-gu, Seoul. Photo by Kang Jinhyung

Kim Byunghyun, managing partner of the law firm LKB Pyeongsan (25th class of the Judicial Research and Training Institute), shared his thoughts on the label of a "major pro-government law firm" in an interview with Asia Economy on August 6. He stated, "The merger was unrelated to any political calculations," and added, "The era of connections is over. Now, I aim to build a law firm that is evaluated based on expertise."

LKB and Pyeongsan launched a new law firm and began full joint operations on July 10. From the moment the merger was announced, the firm was viewed as a "pro-Myung (pro-Lee Jaemyung) law firm," as both firms had previously handled cases related to President Lee Jaemyung and the Democratic Party of Korea.

Kim emphasized, "In a society facing extreme confrontation, there is no need for law firms to be seen as having political leanings," adding, "Law firms should not follow that path, and clients will also know that only professional insight and capability can resolve their cases."

Discussions about the merger began in November of last year, during the Yoon Sukyeol administration. Initially, only one-third of the members supported the idea, as there were significant concerns about political burdens and client relationship adjustments. Kim built consensus around the belief that specialization and scale expansion were the only way forward, gradually persuading the members. After two months of discussions and dozens of meetings, 99% of the members agreed to the merger.

Immediately after the merger, LKB Pyeongsan established 11 specialized centers, including the Financial Construction Center, Virtual Asset Center, and Defense Industry Center. Kim noted, "Especially in finance and virtual assets, where the market changes rapidly and is highly complex, only law firms with expertise can be competitive."

He also directly criticized the monopolistic structure of large law firms and accounting firms. Kim stated, "As large law firms and network law firms dominate the market, companies are bearing excessive costs," and added, "Mid- to large-sized law firms need to offer reasonable alternatives, and LKB Pyeongsan can fulfill that role."

The short-term goal is to stabilize and professionalize the merged organization. This year, the focus will be on internal integration and strengthening the capabilities of each center. Starting next year, the firm will work to expand its share of finance and virtual asset litigation. In the defense sector, the plan is to lay the groundwork through specialized consulting for national strategic industries.

In the long term, the firm aims to become one of the top five law firms in five years. Currently, LKB Pyeongsan is ranked around 12th in Korea, with annual revenue of 30 billion won. Kim declared, "I want to build a law firm that is recognized not just for its size, but for its expertise and dignity."

This content was produced with the assistance of AI translation services.