LKB Partners, a medium-sized law firm with a large number of former judges and director generals, will merge with Pyeong San. Both law firms share the commonality of representing Lee Jae-myung, the presidential candidate of the Democratic Party of Korea, in a violation of public election law case.
On the 28th, LKB (Lead Attorney Lee Kwang-beom) and Pyeong San (Lead Attorney Yoon Woong-geol) noted, "We plan to sign a memorandum of understanding for a strategic merger on the 29th." They decided to name the new corporation LKB Pyeong San. The two companies stated, "The integrated firm aims to enter the top five law firms in the country within five years."
LKB was established by Lead Attorney Lee Kwang-beom, a former director general at the Seoul High Court, in 2012. Lee is a founding member of the progressive judges' group in the courts, the Our Law Research Group. The firm is noted to have grown during the Moon Jae-in administration. Attorneys who served under the former Vice Minister of Justice, Lee Yong-gu, among others, have passed through LKB. Currently, prominent figures include former North Seoul District Prosecutor Lim Kwon-soo and former special prosecutor's team member Park Chung-geun.
LKB was involved in various high-profile cases, including those related to former Minister of Justice Cho Kuk and former Governor of South Gyeongsang Province Kim Kyeong-soo's "Druking comment manipulation case." The firm also joined the legal team for Lee Jae-myung in the appeal related to the false information publication charge regarding his brother's involuntary hospitalization. Lee was acquitted in the appeal in 2020. LKB also served as legal representation for the impeachment trial of former President Yoon Suk-yeol.
Pyeong San was founded in 2017 by former Suwon District Prosecutor Kang Chan-woo, a former judicial training classmate of Lee Jae-myung, along with former Suwon District Court director general Lee Woo-ryong and former Daegu District Prosecutor's Office Western District Chief Prosecutor Lee Won-gon. Former prosecutor Kang was involved in the investigation and first trial of the public election law violation case against Lee. Pyeong San is also the law firm with which Kim Man-bae, the major shareholder alleged to be involved with Lee, signed a consulting contract.
LKB had a revenue of 27.9 billion won last year. Pyeong San's revenue is reported to be around 20 billion won. If the two firms merge, their revenue is expected to jump to between 40 billion won and 50 billion won. Currently, the 10th largest law firm generates a revenue of over 100 billion won. The number of attorneys at both firms is reported as approximately 60 for LKB and over 50 for Pyeong San.