dominates

SEOUL, Oct. 24 (UPI) — South Korea’s law firm industry is ruled by Kim & Chang by any measure, while a handful of other companies struggle to catch up with the leader.

In terms of annual revenue, Kim & Chang reportedly posted about $1 billion last year, which was roughly equivalent to the combined revenue of its next four competitors — Lee & Ko, Bae, Kim & Lee, Yulchon and Shin & Kim.

When it comes to the number of lawyers, Kim & Chang was also second to none.

According to the Ministry of Justice, 1,020 lawyers licensed in Korea worked for Kim & Chang as of July, followed by 565 at Lee & Ko, 519 at Shin & Kim, 497 at Bae, Kim & Lee and 433 at Yulchon.

Kim & Chang was the only South Korean law firm in 2024 to be featured among the world’s Top 100 in a survey published by The American Lawyer and Law.com International.

Observers expect that the outfit will maintain its dominant position for the foreseeable future.

“As a perennial leader, Kim & Chang enjoys a premium. Corporate clients with deep pockets tend to select the best law firm available regardless of cost,” Sungkyunkwan University former law school professor Choi June-seon told UPI.

“Kim & Chang has a recruiting team that picks the cream of the crop. Its reward system, based on intense internal competition, is also notable. Its dominance is unlikely to fade within five years. And I expect it to continue even for a decade,” he said.

Economic commentator Kim Kyeong-joon, formerly vice chairman at Deloitte Consulting Korea, said that Kim & Chang has savored a first-mover advantage. Named after two founders, Kim Young-moo and Chang Soo-kil, it was established in 1973.

“As one of the earliest law firms in South Korea, Kim & Chang has stood out by meeting the mounting demand from corporate clients at a time when the country was undergoing rapid economic growth,” Kim said in a phone interview.

“In addition to its long history, the firm’s strength lies in its diversity across practice areas and industries, including M&A consulting, finance, antitrust, tax and litigation in both Korean and foreign languages,” he said.

Kim & Chang said the full-service law firm employs up to 2,100 professionals, including accountants, tax specialists and patent attorneys, on top of Korean and international lawyers.

Yonhap Infomax, a subsidiary of Yonhap News Agency, reported that Kim & Chang advised on 168 M&A deals last year worth $25.95 billion, capturing a 35.88% market share and remaining atop the list for 12 consecutive years.

Shin & Kim ranked No. 2 with 19.8%, chased by Lee & Ko with 12.6%, and Yulchon with 10.31%.

During the first half of this year, Kim & Chang again topped the podium with a market share of 28.27%.

Globally renowned law firms have tapped into the South Korean market since the early 2010s, but they have failed to make their presence felt. Some even exited the country after failing to achieve significant results.

“From the perspective of global law firms, it would be very difficult to build networks within Korea’s tightly-knit legal community. That’s why they have languished,” Seoul-based consultancy Leaders Index CEO Park Ju-gun said. “The situation is not likely to change in the near future.”

Asked which company might emerge as a serious contender to Kim & Chang, Park named Yulchon, which has chalked up fast growth over the past several years. Even so, he projected that it would take quite a lot of time.

Founded in 1997 as a latecomer, Yulchon has risen to the top ranks on the back of its expertise in tax, antitrust, and regulatory affairs. Other major players were mostly launched in the 1970s and 1980s.

Carlos Ulberg dropped Dominick Reyes in the opening round for his ninth straight win at UFC Fight Night in Australia.

New Zealand’s Carlos Ulberg made short work of the Ultimate Fighting Championship (UFC) light heavyweight title challenger Dominick Reyes on Saturday night with an effortless first-round stoppage at 4:27 at UFC Fight Night in Perth, Australia.

Ulberg (13-1 MMA) kept his messaging simple following his ninth consecutive UFC win, confirming his attendance for next Saturday’s UFC 320 title fight rematch in Las Vegas between Russian Magomed Ankalaev (21-1, 1 NC, or no contest) and ex-light heavyweight champion Alex Pereira (12-3) of Brazil.

“I’m coming [for the belt],” Ulberg said following the fight.

Ulberg dominated the main event bout from the outset, relentlessly coming forward and stifling Reyes’s punches.

Following a straight left punch that appeared to stun Reyes, Ulberg then seized his opportunity with less than a minute remaining in the opening round, unleashing a huge right hook that knocked the American to the ground, ending the fight.

Reyes’s (15-4 MMA) loss on Sunday snapped his three-fight winning streak, and it was his first knockout/technical knockout (KO/TKO) loss since November 2022 to Ryan Spann.

“My goal with Reyes was to box him, and he felt the power early, and I saw in his eyes that he didn’t want to feel that again, so the next opportunity I went with the two and dropped him,” Ulberg said.

 The co-headliner event at light heavyweight saw the home country’s Jimmy Crute (14-4-2) win back-to-back fights, this time beating Croatia’s Ivan Erslan (14-6) by rear-naked-choke at 3:19 of the first round.

Erslan is still without a UFC win through three appearances, last coming away with a victory in February 2024. Meanwhile, Crute’s submission was the sixth of his career.

Featherweight Jack Jenkins of Australia used his volume striking and forward movement to overcome the always durable Ramon Taveras of the United States by unanimous decision: 30-27, 30-27, 29-28.

Jenkins (14-4) has won five of his last seven, while Taveras (10-4) has lost three of his last five and has gone more than 20 months without a win.

For the second straight fight, UFC welterweight veteran Neil Magny of the US kept the submission trend rolling with a D’arce choke against Australian fan favourite Jake Matthews at 3:08 of the third round.

Magny (31-14) survived an early onslaught from Matthews (22-8) before rallying to secure his 24th UFC win and improve his winning streak to two.

Orange Lutheran coach Rod Sherman has known Jon Ellinghouse for a long time.

Before facing Sierra Canyon on Thursday night at Orange Coast College, Sherman said he wouldn’t mind telling the Trailblazers coach directly that he thought Ellinghouse’s team was the best he had seen the school produce.

After No. 2 Sierra Canyon dismantled No. 7 Orange Lutheran 41-9, Sherman was certain.

“No doubt,” he said.

Eric Sondheimer, The Times’ high school sports columnist, nicknamed the Trailblazers’ swarming, antagonizing defense the “Kaboom Squad” — a superhero-like, nonstop force of power, speed and IQ.

How do you stop a defensive front such as Sierra Canyon’s?

Orange Lutheran (3-2) was still searching for an answer in the muggy-air aftermath of a suffocating loss that featured 10 tackles for loss and six sacks.

“There were some unbelievable special plays defensively,” said Ellinghouse after Sierra Canyon improved to 5-0.

Junior defensive back Madden Riordan sealed the game with an interception. Senior defensive lineman Mikhal Johnson recorded two sacks. Junior defensive tackle Kasi Currie had two tackles for loss and an interception over a four-play span in the second quarter.

The Trailblazers sideline shouted in the third quarter when senior defensive back Trey Brown snuck in for a booming sack.

“Everybody was hype for me,” Brown said.

It was relentless. The Lancers completed just five passes on 17 attempts.

Senior defensive end Richard Wesley’s scream in the middle of the postgame huddle said it all.

“I’m happy,” Wesley — who made a sack — roared, extending the “y” for emphasis.

Don’t let the scoreboard fool you; it could have been an Orange Lutheran goose egg — so much so that Ellinghouse said he considered the game a shutout.

The Trailblazers began their first drive with a tipped-pass interception from Lancers freshman defensive back Kiingbaraka Kizzee — stalling in the red zone and settling for a field goal — and ended the first half with a blocked field goal and a 71-yard touchdown return from junior Matthew Zapien.

None of the Lancers’ scores came from a steady drive. On the other hand, the Trailblazers scored with ease.

Ellinghouse called a trick, double-reverse leading to Sierra Canyon senior quarterback Laird Finkel finding big man Brayden Tautolo in the end zone for an eight-yard touchdown to make it 14-3 in the first quarter.

After an Orange Lutheran three-and-out, Louisiana State defensive back commit Havon Finney Jr. scored on a 62-yard punt return. It didn’t let up.

Sierra Canyon junior running back Jaxsen Stokes scored on a 16-yard run in addition to a pair of three-yard touchdown runs. Even Wesley contributed on offense with a 16-yard reception.

A big question remains.

After dominant wins against JSerra, Oaks Christian and Downey, as well as Punahou (Hawaii) — to a 233–16 total points differential — what’s stopping Sierra Canyon from challenging Mater Dei, St. John Bosco, and others for the Southern Section Division 1 crown?

Ellinghouse is ready to see if his team has what it takes to dominate in Mission League play.

And so are his players.

“Me and my teammates were watching that Mater Dei versus Corona Centennial — we just thought to ourselves, why not us this year?” Currie said. “We’re gonna win this year. I believe that; I’m stating that we’re gonna win this year.”

Top-seed Jannik Sinner cruised through the semifinals, losing only seven games to Italian compatriot Lorenzo Musetti.

Defending champion Jannik Sinner continued his ruthless run at the US Open by beating 10th seed Lorenzo Musetti 6-1 6-4 6-2 on Wednesday in the first all-Italian men’s Grand Slam quarterfinal.

The world number one, who also holds the Australian Open trophy, extended his hardcourt winning streak to 26 matches and will take on Canadian 25th seed Felix Auger-Aliassime in the semifinal on Friday.

“It was a good performance, I was very solid, I started well … It’s nearly midnight, so thank you all for staying,” Sinner told the crowd.

“Obviously, we know each other well,” he said of Musetti.

“We’re from the same country, there are so many Italians in the draw. Many Italians here so it’s nice to play here. Playing Davis Cup together and stuff but you have to take the friendship away for the match. When we shake hands, everything is fine.

“It’s amazing, I’m sure that back home some Italians are not sleeping. It’s a special country and we have amazing support.”

Sinner’s thunderous hitting from the word go helped him take a 5-0 lead, and while the loudest applause of the evening came when Musetti got on the board, that was the only joy he had in the opening set.

Musetti briefly threatened to break early in the second, but Sinner staved off his challenge to double his advantage, before easing through the next set and finishing it with a clean hold.

“Every player in the semifinals of a Grand Slam is playing amazing tennis,” Sinner added.

“It’s a very special tournament. The last Grand Slam of the year. There’s no better place to play a night match here, on the biggest stadium we have, with an amazing crowd.

“It means a lot to me.”