How does your firm add value to your clients?
Pursuant to Yoon & Yang’s client-oriented approach, we concentrate our efforts on providing premium, tailored legal services to our clients regardless of the situations they come across. When COVID-19 first broke out in early 2020, we promptly adopted new methods which would facilitate safe, efficient communication to provide our clients with the same quality of legal services in accordance with our standard of client care. In addition, the firm’s focus is geared towards understanding client needs and providing preemptive advice on possible risks which may arise.
What is the key to maintaining long term client relationships?
As the legal market becomes more competitive, providing a higher quality of client service has become even more important in the current climate. Yoon & Yang’s managing partners and heads of each practice group have also collectively taken on the Chief Client Service Officer (CCSO) role actively providing tailored legal services to clients to steadily maintain favorable relationship with existing clients. Our CCSO lawyers work closely with responsible partners to ensure that our new and existing clients’ needs are adequately and continuously satisfied.
What internal training services do you provide to your lawyers to ensure they maintain high standards?
Yoon & Yang is one of the most active law firms in Korea in terms of educating its professionals. Our entry-level associates undergo an intense training regime, where they learn about the firm’s culture and values and begin their legal practice under close supervision from senior lawyers. For senior associates and partners, the firm regularly holds internal seminars to share up-to-date information in relation to new laws/regulations and notable changes in the market. In addition, Yoon & Yang is the first Korean law firm to establish an in-house training center, called Yoon & Yang Academy, providing various educational programs including foreign language courses and case-study courses aimed at analyzing current legal issues in depth.
What do you think differentiates your firm’s services from your peers?
Yoon & Yang offers tailored legal solutions to each client by meticulously analyzing the situation and proactively managing potential risks. The firm not only focuses on providing advice from a legal perspective, but further providing business management solutions to clients for the purposes of mitigating business risks and establishing new strategies. Yoon & Yang focuses on understanding our clients’ business, offering innovative solutions in response to circumstantial changes, and maintaining deep long-term relationships with clients. In recognition of this, Yoon & Yang was awarded the “Client Service Excellence Awards: South Korea” at the asialaw Awards 2020.
Has your firm implemented technology to meet your client’s needs? If so, what did you introduce?
In order to maintain quality client services, the firm was quick to adopt technological changes to facilitate safe and efficient communication with clients at the onset of the COVID-19 pandemic. Online meetings with clients have become the norm. The change has been welcomed by our corporate clients who have had to adopt to a work-from-home system for their employees. As always, we are committed to providing top-quality legal services by taking advantage of cutting-edge resources that are available in order to enhance client satisfaction.
How do you ensure you stay relevant to your clients?
Yoon & Yang is endlessly expanding to meet our clients’ needs overseas. We were the first among our peers to open an Uzbekistan office, which subsequently opened the door to other Commonwealth of Independent States (CIS) markets. We have offices in Ho Chi Minh City and Hanoi as well as a desk in Jakarta in cooperation with Indonesian law firm, Amir Syamsudin & Partners. Recently, we have been accelerating our global capabilities by aggressively recruiting foreign qualified attorneys with significant global experience. We believe that our efforts have been recognized as we received the prestigious ‘Overseas Practice Law Firm of the Year’ at Korea Law Awards 2020 hosted by Asian Legal Business (ALB).
Are there any changes you are considering implementing in the near future to better serve your clients?
Even though the firm is divided into practice groups and teams, we will assemble cross discipline teams to address our clients’ evolving needs, and provide consistent, up-to-date advice. For example, we have formed task force teams to address new demands for ESG and the newly enacted Punishment for Serious Accidents Act comprised of experts in various practice areas such as environment, labor, and criminal defense and others. In order to continue to provide our clients with tailored legal services, we intend to continue with our practice and adeptly change to market changes.
How do you manage the costs and budgets of your clients?
We appreciate that our clients need to keep legal fees and expenses to a minimum, and therefore, we strive to staff our attorneys efficiently to keep legal fees as low as possible. Our primary objective, however, is to provide our clients with the optimal level of advice and support. Cost efficiency is the key. Furthermore, we have the privilege of retaining experts who have previously served as general or senior counsel at multinational companies, in addition to the brightest legal minds, who bring in decades of experience at government departments, various industry sectors, and global organizations. Working alongside such accomplished professionals and deriving from their knowledge and experiences have enabled us to take pragmatic approaches and dramatically decrease legal costs.
What different payment models or schemes do you offer (e.g. Hourly basis, project basis, etc.)?
In accordance with the firm’s standard practice, we offer both time charge (based upon the number of hours devoted by each attorney and professional) and fixed-fee (project basis) options depending on the type of matter. In addition, we are always open to other creative fee arrangements that suit our clients’ needs.
How does your firm allocate staffing resources for your client’s work in terms of seniority and/or budget to meet the client’s needs?”
To meet client needs and provide tailored legal solutions, the firm continuously hires not only former high-profile officials and seasoned senior partners, but also talented lawyers at all levels in various practice areas. Recently, we have hired former judges and prosecutors, high profile government officials, and attorneys who are also licensed tax accountants and pharmacists to expand as well as reinforce capabilities in each of our practice areas.
Where does your firm or lawyers demonstrate leadership thinking or insight pieces to show it’s on top of legal and business updates?
Yoon & Yang immediately responds to legal and business updates by organizing task forces in the wake of new legislation. In particular, ESG is a recent key issue for corporate entities not only in South Korea but across the entire globe. In response to legal and industry trends, Yoon & Yang has established the “ESG Group” which comprises of key professionals who have abundant experiences in various fields and expertise, particularly in compliance matters. In addition, Yoon & Yang regularly holds webinars to share insights and provide clients with the latest legal and industry updates.
How does a firm handle conflicts (like work conflicts, between clients)?
With regards to conflicts management, Yoon & Yang regards this issue to be the paramount ethical and professional obligation. Therefore, we have a very robust conflicts check system in place to prevent any problematic situations from the beginning.
Jinsu Jeong serves as the firm’s managing partner and works closely with clients, attorneys, and staff to determine and implement Yoon & Yang’s strategic growth and development plans. Mr. Jeong is a skilled litigator with extensive experience in commercial and civil litigation as well as white-collar defense. Prior to joining Yoon & Yang, he served in various levels of courts as a judge in the Seoul Central District Court, and Seoul Western District Court and as a judicial researcher at the Supreme Court of Korea.
Yoon & Yang's rankings and leading lawyer list can be viewed here.