BKL and WestExec Advisors Ink MOU to Support Government Affairs Under Lee Jae-myung Administration

BKL Enters MOU with WestExec Advisors to Bolster Government Affairs Support

BKL (formerly Kim & Chang) announced the signing of a strategic partnership agreement with WestExec Advisors on October 29, 2025, at BKL headquarters in Jongno-gu, Seoul. The agreement aims to mutually support government affairs for South Korean and American companies, offering strategic advice on policy and regulatory changes in both countries. This partnership is expected to facilitate effective responses to the various challenges faced by companies in South Korea and the U.S. amid rapidly changing international dynamics, ultimately contributing to the strengthening of economic cooperation between the two nations. BKL plans to leverage its accumulated expertise and network through this collaboration to provide clients with broader and deeper legal counsel. In particular, it anticipates offering accurate information on local regulations and policy trends to Korean companies seeking to enter the U.S. market, proactively identifying potential issues and providing tailored solutions. WestExec Advisors also expects to enhance its understanding of the Korean market and strengthen its presence in the Asian market through cooperation with Korean companies.

Key Areas of Cooperation and Expected Effects

Through this strategic partnership, BKL and WestExec Advisors will collaborate in the following key areas: Firstly, supporting South Korean companies' operations within the U.S. This encompasses various forms of business, including market entry, investment, and business expansion, providing all necessary support such as legal advice, regulatory compliance, and government relations. Secondly, supporting U.S. companies' operations within South Korea. Similarly, this involves providing legal, regulatory, and government relations resources to U.S. companies seeking to enter, invest in, or expand their businesses in the South Korean market. Thirdly, providing strategic advice on policy, regulatory, and industry trends in both countries. This aims to provide timely and accurate information on the evolving policy landscape, enabling companies to respond effectively. Through this collaboration, both firms expect to provide clients with more professional and differentiated services. In particular, it is anticipated to contribute to minimizing the various risks faced by companies in the rapidly changing international environment and creating new business opportunities. BKL will leverage its accumulated experience and expertise through this partnership to serve as a reliable partner for clients' successful business operations.

Key Discussion Points of the Cooperation

In connection with the signing of this partnership, key figures such as Woo Byung-ryul, Head of the Regulatory Group at BKL, Advisor Lim Sung-nam, and Henry Haggard, Senior Advisor at WestExec Advisors, discussed cooperation plans. They explored concrete collaboration methods to provide clients with the best possible services by maximizing the expertise and network of both firms. In particular, they focused on analyzing potential risks that Korean companies may face in connection with the recent changes in the U.S. government's policies towards China under the Trump administration, and on establishing response strategies. In addition, in-depth discussions were held on providing customized solutions for U.S. companies to successfully expand their businesses in the South Korean market. Both sides pledged to continue communication and cooperation in the future to leverage their respective strengths, create synergy effects, and provide even more valuable services to clients. BKL plans to further strengthen its international competitiveness through this cooperation and take a more proactive role in supporting the successful activities of Korean companies in the global market. WestExec Advisors also expects to expand its presence in the Asian market through this partnership and secure new growth engines through cooperation with Korean companies.

Impact of U.S.-China Trade Negotiations on the South Korean Economy

Meanwhile, The Wall Street Journal (WSJ) reported on the 28th (local time) that the Donald Trump U.S. government is pushing for a re-establishment of relations with China during his second term. This move is expected to have a wide-ranging impact not only on trade relations between the U.S. and China but also on the global economy. In particular, ahead of the U.S.-China summit scheduled for the 30th in Busan, trade negotiation delegations from both countries conducted negotiations in Kuala Lumpur, Malaysia, for two days starting on the 25th, reaching a basic agreement for the summit. In these negotiations, China conceded to resuming imports of U.S. soybeans and suspending restrictions on rare earth exports, while the U.S. agreed to consider postponing new tariff impositions, partially withdrawing 20% tariffs related to the fentanyl crisis, and withholding additional sanctions. While these agreements suggest the possibility of easing trade tensions between the U.S. and China, significant challenges remain between the two countries. Lee Jun-seok, leader of the Reform Party, assessed on the 30th that tariff reductions on automobiles and semiconductors were a positive outcome, but expressed disappointment that sustained high tariffs on steel and the maintenance of tariff gaps with Japan were not achieved. The trajectory of the U.S.-China trade conflict will have direct and indirect impacts on the South Korean economy, requiring continuous attention and preparation from the government and businesses. In particular, changes in U.S. policies toward China can affect the export strategies and supply chain management of South Korean companies, requiring careful analysis and the establishment of response strategies. The partnership between BKL and WestExec Advisors is expected to play an important role in supporting South Korean companies to effectively respond to these uncertain international dynamics.