Korean companies, rich in cash reserves, are increasingly looking overseas to fulfil their global ambitions. In addition to China, South America and the Middle East, there has been a significant focus on Southeast Asia, which boasts attractive growth rates and low costs. Some of Korea’s law firms too are following their clients there and have already opened, or plan to open, in the region. Kanishk Verghese reports on Korea Inc’s latest outbound trends, and analyses Korean law firms’ strategies overseas and expansion plans for the year ahead.

Allen & Overy has promoted 16 lawyers to its partnership globally, including three appointments each in Hong Kong and Dubai.

UK law firm Bird & Bird has entered into a cooperation agreement with South Korean firm Hwang Mok Park, marking the first tie-up between an international firm and one of Korea’s top 10 law firms.

Shearman & Sterling has bolstered its project development and finance practice with the addition of George Borovas as a partner in Tokyo.

Norton Rose Fulbright has hired insurance litigation specialist Declan McDaid as a partner in its Hong Kong office.

After years in the making, Malaysia’s Personal Data Protection Act came into force last November. The Act is the first of its kind in Malaysia, and changes the manner in which organisations, including law firms, interact with their employees and clients, as well as how they collect and handle personal data. Kanishk Verghese reports

Slaughter and May has hired securities lawyer John Moore from Morrison & Foerster and promoted senior associates Clara Choi and Natalie Yeung to the firm’s partnership in Hong Kong.

K&L Gates has hired investment management and financial services regulatory specialist Greg Heaton as a partner in Hong Kong.

DLA Piper has strengthened its restructuring practice with the addition of Mark Fairbairn as a partner in Hong Kong, and Ashley Bell as of counsel in Singapore.

Weil, Gotshal & Manges has hired Albert Cho from Kirkland & Ellis as a partner in the firm’s global private funds group in Hong Kong.