[Sponsored Report] Law firm Yulchon honored for innovations in legal field

Yun Sai-ree, founding partner at Yulchon, accepts the Financial Times award for “Most Innovative Law Firm in Dispute Resolution” on behalf of his firm. [YULCHON]

Korean law firm Yulchon is honored to win the Financial Times award for “Most Innovative Law Firm in Dispute Resolution” and to be recognized beyond Korea as one of the Asia-Pacific’s most innovative law firms. Among all Asia-Pacific headquartered law firms, Yulchon received the highest score for innovation in legal expertise.

After being recognized by the Financial Times as “Most Innovative Law Firm in Korea” for two consecutive years in 2015 and 2016, the Financial Times selected Yulchon as one of the top five most innovative law firms in the Asia-Pacific region by awarding Yulchon “Most Innovative Law Firm in Dispute Resolution” at the Financial Times Asia-Pacific Innovative Lawyers Awards ceremony held on June 1 in Hong Kong.

Now in its fourth year, the 2017 Financial Times Asia-Pacific Innovative Lawyers Awards celebrate the most innovative legal work in the region from both international and Asia-Pacific headquartered law firms. Looking beyond “the usual criteria of measuring lawyers by revenues, profits or deal sizes,” the Financial Times Innovative Lawyers Awards seek to recognize “the real value that lawyers deliver to businesses and reward the lawyers consistently furthering the interests of their clients, their own firms and the profession itself.”

“Innovation is at the core of our strategy,” said Yun Sai-ree, a founding partner at Yulchon. “These awards are a testament to our commitment to excellence and innovation and our passion for delivering ground-breaking solutions for our clients.”

Selected from among more than 500 submissions and nominations from 71 law firms, Yulchon received high marks for demonstrating innovation in all three categories including business of law, legal expertise and social responsibility.

Yulchon topped the rankings for Innovation in Legal Expertise. This category covers the innovative strategies of law firms in developing new structures, new legal strategies or new laws to meet the business challenges of their clients. For example, Yulchon was recognized for defending the Korean vice prime minister and upholding his sanctions decision, which was challenged by an Iranian bank, and successfully representing more than 100 Korean companies in corporate tax disputes. These top two “standout” deals were commended by the Financial Times for providing innovative, client-centric legal solutions.

In the category of “Innovation in Business of Law,” Yulchon’s user-friendly, interactive LawTech platform, eYulchon, was highly praised as the most original and innovative initiative to drive change through technology and lead a digital transformation in the legal industry. “Yulchon is combining legal and non-legal components to create value for our clients,” said Carl Im, a senior adviser at Yulchon who was specially commended for spearheading the project and helping the firm provide clients with low-cost compliance tools such as apps.

Earlier this year, Yulchon was also awarded the distinction of “National Law Firm of the Year” by Chambers & Partners, one of the world’s oldest and most respected lawyer ranking firms. Yulchon’s latest Financial Times win further establishes the firm’s leadership in driving legal innovation beyond Korea and throughout the region.

Yulchon is honored to receive this award and would like to take this opportunity to express sincere gratitude to its clients and friends for their continued support and trust.

BY LEE CHAE-WON [lee.chaewon1@joongang.co.kr]