Leading Mega Deals and Breaking PEF Regulations: Jipyung’s ‘36-Year Partnership’ Field Leadership [Invest&Law]

Establishing Nine Overseas Offices in Eight Countries

Surpassing KRW 150 Billion in Revenue Without Mergers

Over 20% Revenue Growth in the First Half of the Year

CEO Personally Drafts Briefs and Presents on Key Issues

“In the A

Kim Jihong, CEO Attorney at Jipyung Law Firm, is being interviewed by The Asia Business Daily at the company building in Jung-gu, Seoul. 2026.9.10 Photo by Hyunmin Kim

In July 2011, when Korea’s legal market first opened to foreign competition, domestic major law firms turned their attention to Anglo-American hubs like New York and London, with building networks with global law firms considered the obvious route to internationalization. Jipyung Law Firm, however, took a different path. Instead of targeting established, glamorous financial centers, Jipyung dived directly into Asia’s emerging markets such as Vietnam, Cambodia, and Laos. This contrarian approach—filling untapped markets before others did—proved to be a success. Today, Jipyung holds the largest number of global offices among Korean law firms, operating nine overseas branches across eight countries: Shanghai in China; Ho Chi Minh City and Hanoi in Vietnam; Phnom Penh in Cambodia; Vientiane in Laos; Jakarta in Indonesia; Yangon in Myanmar; Moscow in Russia; and Budapest in Hungary. Leveraging this network, Jipyung is now a prominent presence in cross-border deals.

This pioneering approach to management has translated into strong business performance. Without relying on mergers with other firms, Jipyung surpassed 150 billion won in revenue last year on its own and achieved double-digit growth. In the first half of this year, the firm continued its rapid pace, boosting revenue by more than 20% year-on-year.

The person leading Jipyung’s remarkable progress at the forefront is Chief Attorney Kim Jihong, who joined immediately after graduating from the Judicial Research and Training Institute and has dedicated over 20 years to the firm. Alongside co-CEO Lee Haengyu, he represents the ‘First Generation’ of Jipyung’s young leadership cultivated through open recruitment. Rather than holding onto the authority of his position, Kim takes a hands-on approach—drafting legal briefs himself and presenting key arguments in major client presentations. This field-oriented leadership has been a driving force behind major successes, such as consecutive victories for Kakao and Naver against Fair Trade Commission (FTC) sanctions, advisory work for MakinaRocks’ IPO, and the sale of Gunsan Shipyard. We recently met with CEO Attorney Kim, who has been advocating the ‘Beyond Law’ vision—offering integrated solutions that go beyond legal advice and address broader business challenges—at Jipyung’s Seoul headquarters. The following is the Q&A.

-What are the main strengths of having a “young law firm leader” born in the 1970s?

▲Co-CEO Lee Haengyu and I have known each other for 36 years. As the first batch of open recruits at Jipyung, we have watched the firm’s growth from the ground up, which enables us to quickly pursue new initiatives while maintaining the organization’s core identity. In particular, we aim to be a thoroughly field-oriented management team. Both co-CEOs personally prepare legal briefs and take part in major client presentations. When one of us is presenting, the other manages internal operations, balancing hands-on work with staying close to our clients. Ultimately, being young means having a high level of execution that allows us to quickly embrace and integrate new possibilities in the era of artificial intelligence (AI).

-As experts in fair trade and capital markets, was there a specific case that highlighted the synergy between the two co-CEOs?

▲Fair trade and capital market issues are inevitably intertwined in corporate governance restructuring and investment processes. A prime example would be our advisory work for domestic private equity fund (PEF) managers on exemption from designation as business groups subject to public disclosure by the FTC. Despite the fact that PEFs acquire shares purely as an investment and not for the purpose of managing companies, they were being classified and regulated as conglomerates. Our fair trade, capital markets, and M&A teams worked seamlessly to persuade the FTC on this point, and for the first time in Korea, PEF-only business groups were recognized and exempted from regulation. This is a case where the co-CEOs’ complementary expertise was organically connected to deliver an optimal solution.

-Jipyung has the largest global presence among domestic law firms, with nine overseas offices in eight countries.

▲Back when the legal market opened in 2011, going to a prestigious Anglo-American law school or building networks with global firms was the typical path. However, Jipyung decided to go to the emerging Asian markets that other firms were ignoring and learn firsthand on the ground. Starting with Ho Chi Minh City in Vietnam and Shanghai in China in 2007, we moved quickly into untouched markets like Cambodia, Laos, Indonesia, Myanmar, and Moscow. This alternative route, as opposed to following the beaten path as a latecomer, has now become Jipyung’s unique and powerful competitive edge in cross-border deals that no other local firm can replicate.

Kim Ji-hong, representative attorney at Jipyung Law Firm, poses for a photo during an interview with The Asia Business Daily at the firm's office in Jung-gu, Seoul. 2026.9.10 Photo by Kim Hyun-min

-Jipyung achieved over 20% rapid growth in just the first half of this year. In which areas did you see such success?

▲Following last year’s 150 billion won revenue milestone, significant achievements have been made across the board. In labor law, we won an injunction to prohibit illegal collective action by a semiconductor company’s labor union—a precedent-setting case in this field. In fair trade, we secured three consecutive victories for platform companies such as Naver and Kakao and, representing major domestic sugar manufacturers, achieved an unprecedented decision to suspend enforcement of fines totaling about 120 billion won. In capital markets and real estate, we provided advisory services for MakinaRocks’ IPO, which attracted a 14 trillion won deposit, managed the 780 billion won sale of Gunsan Shipyard, the sale of Humax Village (280 billion won), and handled the acquisition of Hansung Motors service centers through project REITs, all of which have propelled our growth.

-Many large law firms pursue mergers to expand externally. Why does Jipyung adhere to “organic growth” instead of mergers?

▲At Jipyung, we view growth differently from simply scaling up. In 2008, we experienced firsthand the challenges of integrating organizations after merging with Jisung. Increasing the headcount or size of an organization does not guarantee sustainable competitiveness. For example, the case of David Fox, who led world-leading law firm Kirkland & Ellis’s growth but then went on to launch a small, AI-driven firm called Irving, is quite interesting. It signals that the formula for success in the legal market has changed. In an era when AI is replacing standardized work, organizational ability to see through complex situations and demonstrate integrated capabilities matters far more than the sheer number of people.

-What are the key variables for the legal market at year-end, and what is Jipyung’s outlook for the second half?

▲Without a doubt, the greatest variable is AI, as well as the evolving industrial and regulatory environments that come with it. Problems can no longer be solved solely through legal expertise, and the focus of services is shifting from post-event responses to proactive risk prevention. Jipyung will not remain confined to one area but serve as a legal partner that encompasses industry, technology, and policy business—providing genuinely actionable solutions.

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