Lin (Managing Partner: Jin Seok Lim) has been recognized as a "Hidden Champion" law firm and "Best Law Firm" for its distinctive management philosophy and expertise in the "2024 Korea Law Firm Consumer Report," which is scheduled to be published by The Law Times on March 30th.
'Hidden Champion' is a term first conceptualized by Hermann Simon, a world-renowned scholar in the field of business administration, to refer to companies that are not well known to the public but are showing an outstanding performance in their field with high sales. LIN was selected as the "hidden champion" thanks to its clear management philosophy and exceptional innovativeness. It is impossible to be the best without proven expertise, for which continued innovation is a prerequisite.
On the occasion of 'Law Day,' The Law Times conducted a survey on law firms’ services, which included short-answer questions, of 588 legal officers from 117 companies affiliated with the top 30 domestic groups and five financial groups, and found that “expertise” is the number one criterion for consumers in the legal market to evaluate law firms. Out of the 588 respondents, 488 responded to the question asking for the "best law firm," and among the reasons for choosing a law firm, such as expertise, speed, communication skills, price, and others, 398 (63.6%) responded that they chose the best law firm for expertise, followed by speed (100, 16.0%), communication skills (82, 13.1%), and price (32, 5.1%). Lin scored 4.5 out of 5 or higher in all 14 categories in the Legal Times's competency assessment, earning the firm a spot on the list of "Best Law Firms," demonstrating that its capabilities and expertise are highly regarded by legal market consumers.
The firm has emerged as an 'emerging powerhouse' with good ratings in 10 areas, including IT-TMT, privacy, fair trade, international arbitration and international trade, financial securities, human resources & labor and employment, mergers and acquisitions, capital markets, taxation, and intellectual property.
In addition, LIN, which boasts a significant presence of legal experts from large law firms such as Kim & Chang, highlighted its ability to provide services similar to those of Kim & Chang but at much lower costs. In response to the question about 'appropriate fees' in this survey, LIN was the only one who received the perfect score of 5 out of 5 among all law firms, demonstrating its ability to provide high-quality legal services at reasonable prices.
"From 16 lawyers, including staff, when it was founded in 2017, Lin has grown to have more than 190 lawyers (113 Korean lawyers) as of 2024, nearly a 12 times increase in seven years. Most of our lawyers are from large law firms, such as Kim & Chang, and our experienced partners take the lead in providing services at the level of large law firms," said Mr. Lim. "In addition, we have been able to charge reasonable fees to our clients by actively utilizing teleconferencing and open offices without reserved seats while reducing overhead costs,” he added.
The Law Firm Ratings Task Force believes that consumers who use law firms’ services for themselves can provide the most unbiased and objective assessment of law firms. So, the survey respondents were selected from those who work in the legal departments of the 30 largest companies and the five largest financial groups, and 588 legal officers from 117 companies participated in the survey.
Given that this survey reflects the perspectives of consumers, the high evaluation of LIN is considered to be an objective view of consumers in the legal market.
For more information, please refer to the articles below.
The Legal Times
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'Hidden Champion' Law Firm is 'LIN'
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