Jeong Ho-seok, managing partner of Law Firm Seum, said in an interview with ChosunBiz on the 6th that the spread of generative artificial intelligence (AI) has ushered in a phase where the very "protocol" of legal services is changing. Jeong said the role of law firms will be redefined beyond simple contract review to helping with clients' decision-making and execution.
Since its founding in 2012, Seum has provided advisory and dispute services mainly for startups and IT corporations. Jeong said the firm designed its organizational operations to learn and execute quickly like a startup, and in the process has accumulated transaction, negotiation, and dispute data as an internal asset. The following is a Q&A with Jeong.
─ What is Seum's identity after 14 years of focusing on startups and IT?
Seum is a law firm that has stayed close to the growth of startups and IT corporations, co-designing advisory and dispute strategies. We do not end with saying "it can't be done." After explaining the risk, we find, together, options and execution paths that can reach the goal while bearing that risk. Startups are organizations that look for "ways it can work," but many legal professionals stop at answers like "it's risky" and "it's difficult." In the meantime, clients lose time and options. The partner and mentor roles we talk about also start at that point.
─ What is different about Seum's "data advisory"?
In investment contracts or M&A, the more cases you build, the more negotiation data you accumulate. Internally, we retain records of which clauses were conceded and which were held to the end when transacting with certain counterparts, and where agreement was ultimately reached. In negotiations, it is important to know the patterns in which the other side moves. With historical data, strategic advisory becomes possible beyond simple review. We can explain, with figures and examples, the ranges the market accepts for stock options or key clauses, and present realistic target levels that can be achieved.
Startups face recurring problems at each growth stage, even across different industries. Similar disputes appear when investment scales up, sales surge, or headcount increases rapidly. If stage-specific issues are organized as data, there are fewer "first-time problems," and response speed improves. Disputes often come down to contract wording. That is why Seum designs from the outset to ensure the founder's intent and the business structure are accurately reflected in the contract language.
─ How will law firms' ways of working change in the AI era?
The spread of AI is not just a change in work tools but a phase that changes the premise of legal services themselves. Existing protocols are being shaken, from lawyer training to deliverables to internal collaboration structures. Now legal consumers also obtain a certain level of information with AI. All the more, law firms' competitiveness will hinge on speed and experience. Based on accumulated transaction and dispute data, firms must present clients' "next actions" to create value. This change is also appearing in advisory for AI corporations. For example, when the scope of data collection and watermark standards for voice AI services were unclear, we reviewed overseas legislative examples and research to advise, and later a direction similar to the government's guidelines was presented.
─ How are Seum's size and portfolio changing?
Although we surpassed 10 billion won in sales for three consecutive years recently, last year was somewhat lower than the previous year. Until the first half, startups and IT corporations struggled significantly. However, from the second half, we have seen signs of transactions picking up, centered on AI. I think there is potential for a rebound this year. We have around 60 attorneys, and the staff is of a similar size.
Our work used to be advisory-centered, but we strengthened litigation a few years ago. Now the ratio of advisory to litigation is about 6 to 4. Industry understanding built in advisory helps in litigation, and risks revealed in litigation, in turn, advance the advisory framework.
─ What are the benefits of bundling advisory and litigation into a "one team"?
Many law firms separate advisory and litigation or operate litigation on its own. At Seum, the litigation team handles litigation procedures, and the advisory team joins to move as a TF, providing background knowledge of the case and industry context. This is possible because of the "one team" structure. What clients need is not answers that know only procedure but executable solutions that reflect the industry and transaction structures.
This approach has also worked in virtual asset cases. In a suspected scam coin issuance fraud case, we scrutinized concrete evidence of false disclosure and the scope of the duty to explain, and secured a non-prosecution disposition. In a case alleging price and volume manipulation by an exchange head, we won partial acquittals.
─ What role does "Seum Rocket" play for ultra-early startups?
At the ultra-early stage, basic risks like incorporation, equity structure, key contracts, and terms and conditions must be sorted out quickly. But early corporations lack expense and time. Seum Rocket offers legal, registration, and tax services in a flat-fee bundle for startups with cumulative investment of 1 billion won or less. Using accumulated data and standardized processes, it focuses on reducing early legal risks.
Seum Rocket is also a "market radar" for the law firm. By closely encountering the concerns of early founders and the flow of technology, we can quickly read which fields are heating up and what forms of entrepreneurship are increasing.
─ What kind of "mentoring" is possible for large corporations or funds investing in or acquiring startups?
These days, large corporations view startups not as targets to catch up with but as partners for collaboration and market entry. In investment and acquisition, what matters is ensuring that the essence of the business and growth strategy are reflected in the contract structure without exaggerating or downplaying the startup's risks. If startups lack experience with where disputes arise or what control mechanisms are needed, their decision-making can be distorted. Because Seum has extensive experience advising startups, we can help investors and acquirers make sound decisions.
Our strengths were evident in advisory for startup investment and acquisitions by LG Electronics and Naver. Large corporations can easily miss startups' organizational cultures, decision-making styles, and the conditions founders truly prioritize. Based on our startup advisory experience, Seum played a role in connecting the languages and expectations of both sides.
─ How do you view risks in the virtual asset and blockchain fields, and what do you advise?
Virtual assets differ in risk depending on the type of operator, issuance and distribution stages, and technical structure, making them hard to explain with a single standard. You need to understand the industry's characteristics to see what to clarify in contracts and what issues to set up in disputes. Because this is an industry in the process of rulemaking, it is important to refer to the flow of financial regulation and make it possible to predict what constitutes sustainable operations.
─ You graduated from the Department of Mechanical and Aerospace Engineering at Seoul National University. In what ways has your engineering background helped with "mentor-type advisory"?
In startup advisory, it is useful to first break down the technology and business structure and then trace back where legal risks arise. While a major does not provide the answers, the habit of structuring problems and approaching them remains part of my work. In technology-based businesses, if you do not sort out what is core and what is peripheral, both contracts and disputes can easily go astray.