Is the Trend Toward Larger Law Firms Returning?

Published 29 Apr.2026 14:54(KST)

First Major Law Firm Merger in 25 Years
"1+1 Merger Must Create Synergy Greater Than 3"

There is growing attention on how the memorandum of understanding (MOU) signed on April 29 for a merger between Daeryook & AJU LLC and LIN LLC will impact the large law firm market landscape. This is particularly noteworthy as it marks the first merger among the top 10 major law firms in 25 years, which is expected to lead to changes in market rankings and bring both advantages and challenges. Within the legal industry, there is even talk of three or four additional mergers among mid-to-large-sized law firms.

Previously, in 2009, Daeryook & AJU was formed through the merger of Daeryook LLC and AJU LLC. Now, 17 years later, Daeryook & AJU is once again embarking on expansion, aiming to complete its physical merger with LIN LLC around October 2026. Upon completion of the merger, the new firm will rise to 8th place in terms of revenue and 6th place in terms of the number of domestic lawyers.

Law Firm Logo. The Legal Times

The trend toward larger law firms has been a natural outcome of increasing societal demand for legal services. This trend began in the early 2000s. In January 2001, Sejong LLC opened the door for law firm mergers when it merged with Open Joint Law Office. This was a pivotal moment, allowing Sejong, which excelled in advisory services, to strengthen its litigation capabilities and transform into a comprehensive law firm. In 2010, Sejong further solidified its presence as a large law firm by absorbing Evergreen LLC, which had been founded by former Sejong lawyers and consisted of about 30 domestic and international attorneys.

This set the stage for a series of subsequent mergers among law firms. In July 2001, Hanmi Joint Law Office, specialized in corporate advisory, joined forces with Kwangjang LLC, known for its litigation prowess, to form Kwangjang LLC. In February 2003, Hwa Baek, which specialized in litigation, and Woobang, recognized in corporate advisory, merged to create HWAU LLC. In 2006, HWAU LLC underwent another transformation through a merger with Kim-Shin-Yoo LLC, becoming the firm as it is known today.

In 2008, Jipyung LLC entered the ranks of large law firms by merging with Jisung LLC, and in 2009, Daeryook LLC and AJU LLC joined together.

There was a lull in major law firm mergers until January 2023, when Class LLC and Hangyeol LLC signed a memorandum of understanding, leading to the launch of Class Hangyeol LLC at the end of the same year.

In July 2025, LKB & Partners merged with Pyeongsan LLC, becoming LKB Pyeongsan LLC, the largest law firm in the Seocho-dong area. LKB Pyeongsan LLC is also pursuing a merger with Jungse LLC.

If the merger between Daeryook & AJU and LIN is finalized, it is expected to have a significant impact, as it represents a merger between a large and a mid-sized law firm. Industry observers are focusing on the potential synergy created by combining Daeryook & AJU, which has strengths in litigation and overseas legal services, with LIN, which has excelled in corporate advisory and new industries. There are also reactions that this could lead to a major reshuffling among large law firms.

However, while large-scale mergers may be inevitable, concerns are being raised that simply scaling up could become a risk in a situation where the advent of artificial intelligence (AI) is expected to reduce the roles of associate lawyers.

A partner at a major law firm stated, "In the era of AI, depth of expertise will determine survival, rather than size," adding, "Even after the merger, success will depend on how robustly each practice area's specialized capabilities are built." Another partner at a large law firm commented, "Facing the limitations of scale, Daeryook & AJU and LIN appear to have made a strategic choice. The key will be whether they can achieve a qualitative leap to handle large-scale deals that they could not previously manage." He added, "After the merger, they must demonstrate that '1+1' produces at least '3' or more in synergy."

Meanwhile, Daeryook & AJU and LIN are reportedly aiming to evolve into a 'total solution' law firm, offering comprehensive legal services across all practice areas through their merger.