DaeRyuk Aju Law Firm, led by Lee Kyu-cheol, and Lin Law Firm, led by Lim Jin-seok, have successfully completed their merger preparations and signed the merger agreement. The two firms will operate under the name 'D&L'.
The signing ceremony took place on November 9 at the conference room on the 20th floor of Donghun Tower in Yeoksam-dong, Gangnam, Seoul.
This marks the completion of the merger process just over six months after the two firms signed a memorandum of understanding (MOU) on April 29. During this period, they established a merger committee to discuss various aspects of the integration, including organization, personnel, and finances. The new firm plans to officially launch after receiving approval from the Ministry of Justice and completing the merger registration in December.
The name 'D&L' was chosen through a public solicitation process, combining the initials of DaeRyuk Aju ('D') and Lin ('L'), with the '&' symbol representing the connection and unity of the two firms.
As of October 31, D&L will have 397 lawyers, ranking sixth among large law firms in South Korea, with revenues of 143.7 billion won last year, placing it eighth.
DaeRyuk Aju has built its reputation in litigation and regulatory response areas such as fair trade, major disasters, labor and employment, and tax and customs, while Lin has established itself in corporate advisory fields including mergers and acquisitions (M&A), finance, artificial intelligence, platform technology, and intellectual property. The merged firm, D&L, aims to become a well-rounded law firm with a balance between litigation and advisory services.
D&L will focus on providing clients with prompt and accurate legal services, smooth communication, and transparent fee structures.
Following the merger ceremony, the representatives of both firms shared their aspirations during a press conference.
Lee Kyu-cheol, representing DaeRyuk Aju, explained the merger's background, stating, "The rapid progress of the merger over six months was due to our mutual recognition of its necessity. DaeRyuk Aju needed to grow while maintaining a specialized law firm, and Lin, despite its strong capabilities, felt limitations in taking on cases. This urgency led to the swift completion of the merger."
Regarding future vision, he added, "We will leverage the strengths that DaeRyuk Aju has demonstrated. When assessing people, we should focus on their strengths rather than weaknesses. We plan to enhance our strengths while addressing our weaknesses. DaeRyuk Aju excels in litigation, while Lin is strong in advisory services. Combining these strengths makes this merger highly synergistic."
Lim Jin-seok, representing Lin, emphasized the importance of international clients, stating, "Recognizing the significance of overseas clients is crucial. Becoming a law firm that is well-regarded internationally will elevate our status." He expressed his commitment to developing a firm capable of addressing complex international issues with a diverse range of experts.
Lim also noted that while the merger does not immediately position D&L to compete with major law firms, the goal is to steadily increase the number of lawyers and revenue over the next two to three years, building on DaeRyuk Aju's established international presence to appeal to the market.
He highlighted that according to a survey by a legal newspaper, DaeRyuk Aju ranked second among the top ten law firms for cost-effectiveness, and Lin also excels in certain areas. Lim mentioned that they have recruited many lawyers from major firms and believe they can compete with major firms in terms of value for money.
Regarding the establishment of a unified office, Lim stated, "Even after the merger and registration, it will take time for a large number of personnel to consolidate in one location. We are considering a physical integration as quickly as possible, although the timeline is uncertain."
* This article has been translated by AI.
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