(As excerpted from our monthly Associate Newsletter - Asia Pacific)

Associate Newsletter – Asia Pacific is a monthly resource that reports current legal market news, trends, partner moves and active opportunities in the Asia Pacific legal markets.

Legal Market Summary

HONG KONG

Since the Chinese New Year, we have seen an uptick in recruitment at the associate level, and more firms are reaching out about their openings. These positions are mainly in finance, IP, employment, litigation, antitrust and the projects space. The opportunities are available to lawyers with at least two years of post-qualification experience. Most of these openings are replacement hires, with a notable number of the departures being due to associates moving in-house.

Mainland CHINA

Recruitment activity remained steady in Beijing and Shanghai throughout February. Most firms believe business activities will pick up again in the second or third quarter of this year. The openings we are working on now are within the litigation and investigations space. The firms are keen on lawyers with at least four years of post-qualification experience. They are happy to relocate Chinese nationals who have gained a couple of years of experience overseas and are looking to return to the Shanghai or Beijing markets.

SINGAPORE

At the time of writing, Singapore has moved to an almost pre-COVID-19 position after removing the mask wearing requirements on public transport. It is budget time here, so Singapore is analyzing a budget that focuses on building a resilient nation for future generations, supporting business and building a more competitive tax system. This is all positive news for our law firm clients, who remain invested and are keen to grow, albeit with caution. We continue to see a demand for associates in investment funds, restructuring, major projects, and disputes. As always, quality of academics and experience is key. Please contact us if you would like to find out more about our market. 

SINGAPORE - (Interim)

Despite the potential economic downturn, the demand for interim contract lawyers remains high. There is a need for lawyers with corporate and commercial expertise, particularly in the areas of banking and finance, energy, and technology. There is also a growing need for lawyers with experience in regulatory compliance and data privacy.

SOUTH KOREA

Although the global economy has impacted cross-border transactions, there are hopes that 2023 will see an increase in cross-border deal activity, particularly in the second half of the year. MLA's Seoul consultants met with many of the international firms and major Korean firms during their trip to Korea in late January. The overall mood of the market was positive, with some M&A, project finance and litigation roles to be filled in the year ahead. Firms are also opportunistically looking to add to their partner ranks as several offices have plans for cautious but steady growth.

JAPAN

Tokyo has been buzzing with tourists and business visitors alike, as many lawyers and other professionals are visiting Japan for the first time since 2019. There are numerous associate roles open at the international firms but having the exact right skill set is more important than ever. Firms are seeking corporate bengoshi associates at all levels, and there are new roles for disputes and regulatory lawyers as well. On the foreign-qualified lawyer side, the roles are primarily in the areas of finance and M&A. Japanese fluency is still required for most but not all those open positions.

AUSTRALIA

Throughout February, we have seen a steady demand for corporate/M&A lawyers at the associate and senior associate levels with various leading firms across Sydney and Melbourne. There has also been an uptick in demand for investment funds lawyers, as well as for senior associates with construction and infrastructure experience. Law firms continue to reiterate their interest in meeting with top-tier England & Wales-qualified lawyers, with transactional experience, looking to relocate to Australia.

Partner Moves

Office openings

Watson Farley & Williams opens in Seoul