Oppenheim and Jipyong have joined forces to launch a dedicated Korean desk in Hungary. With Korea now ranking as Hungary’s third-largest investor and government initiatives driving opportunities in manufacturing and trade, Partners Istvan Szatmary, Jozsef Bulcsu Fenyvesi, Seong Chang, and Ji Hye Lee explore how the partnership aims to bridge cultural and regulatory gaps and enhance regional engagement.
CEELM: Congratulations on the partnership! Why did this partnership make sense for you? What were the considerations that encouraged Oppenheim to open a Korean desk?
Szatmary: Stepping back a little bit, we’ve been working with Jipyong for many years now. We’ve cooperated on various cases and got to know each other throughout that time. With that familiarity established, we realized over the last couple of years that Hungary, on a macroeconomic level, has been attracting more and more capital from Asia – particularly from Korea. In fact, Korea has already become the third-largest investor in Hungary, surpassing many other countries. Additionally, the Hungarian government is actively exploring opportunities in manufacturing and trade, which reinforces the potential for new business avenues. So, from our perspective, forming a partnership like this made perfect sense.
Fenyvesi: As we observed an increased level of interest in CEE, foreign direct investment from Asia was zeroing in on energy, EV batteries, and other manufacturing and technology-driven industries. Large amounts of capital were flowing into Hungary and the broader region. Given our regional outlook, we positioned ourselves as a first point of contact for companies intending to invest and operate here. Furthermore, on a personal note, we already enjoyed a great relationship with Jipyong, so continuing to work together was a very natural step. There is also great potential for expanding our advisory services to other Korean businesses entering the market.
We recognized not just Jipyong’s capacity and experience, but also their disruptive edge in the Korean market: they’re still a relatively young firm with close to 400 professionals, united by a strong drive for excellence. From our viewpoint, that dynamism promises a very fruitful collaboration.
CEELM: Similarly, what was it about Hungary that sparked Jipyong’s interest? Are there plans to look at other CEE markets?
Lee: We have nine offices across eight countries, making us the Korean firm with the most extensive overseas presence. Our overarching strategy is to expand globally and to assist the growing number of Korean businesses that invest in CEE. Hungary stands out as a regional hub for automotive, energy, and EV batteries, so we saw strong momentum there.
Chang: The Korean desk at Oppenheim can also specifically serve clients in other CEE markets like the Czech Republic, Slovakia, and Poland. While we’re currently focusing on the Visegrad countries, we are open to expanding further if clients’ needs require it. With almost 300 Korean companies entering the Hungarian market, many of which we already knew in Korea, it made sense to establish a local presence.
CEELM: What were the main synergies the two firms found in each other?
Szatmary: As we mentioned, approaching Korean clients in Hungary on our own would be challenging, primarily due to cultural differences and initial credibility gaps. From a Korean manager’s perspective, navigating Hungary’s legal environment can be tough without a trusted partner. Our synergy lies in jointly delivering clear, understandable legal advice without language or cultural barriers. That is our cornerstone. Of course, we also share know-how in many areas, but bridging that cultural gap remains crucial.
Lee: Personally, I’ve always been interested in EU regulations and have continued building my business acumen in that direction. I was already supporting Korean clients with a strong focus on the EU region, and this development felt like a natural progression. Moving to Oppenheim allowed me to dedicate my expertise to bridging Korean business interests with Hungary and the broader CEE region in a more concentrated way.
I believe both Jipyong and Oppenheim share a common vision of providing high-quality, client-oriented services. Oppenheim has deep knowledge of Hungary’s legal framework, while Jipyong thoroughly understands Korean businesses. With language barriers minimized and communication styles aligned, the potential for miscommunication is practically gone.
Chang: We had experience with other law firms in the region, but the level of enthusiasm and commitment that we saw at Oppenheim was very similar to our own commitment to the CEE region. The similarities of working style (e.g., response time) convinced us that this partnership would bring the most mutual benefits for our firms.
Fenyvesi: These synergies are enhanced by having Jipyong colleagues physically present and working alongside Oppenheim’s team. That on-the-ground collaboration helps us deepen existing synergies and discover new ones, especially in building direct relationships with Korean businesses here. This collaborative presence also paves the way for further expanding our advisory services tailored to the needs of Korean market entrants.
CEELM: What are the main plans in the short term – how will this new partnership be leveraged initially, and what about the long term?
Szatmary: Beyond the practical side, we do have clear short-term outreach plans. Both firms also keep a long-term perspective in mind, where each near-term decision feeds into our broader strategy. We aim to become the go-to office for businesses across the region. From our very first discussions, we saw how well our firm cultures mesh and realized we can accomplish a lot together.
Lee: Specifically, we want to introduce our presence to as many Korean businesses as possible –through meetings, seminars, and targeted outreach. The hope is that we’ll soon become a ‘cultural leader’ for enterprises looking to enter the Hungarian market, guiding them step by step.
Szatmary: Indeed, building relationships with the local Korean community helps us realize we share a lot of common ground. Engaging with people, culture, and language in a truly meaningful way underscores just how many values we have in common and enables more cohesive cooperation.
Fenyvesi: Looking beyond Hungary, our next aim is to extend this model regionally. We’ve already explored connections and opportunities in nearby countries – it’s a classic pattern for law firms to follow their clients’ capital. Additionally, Jipyong is actively enhancing its understanding of legal technology and operational approaches – focusing on how they handle clients, manage client relationships, and apply their expertise and professionalism across every facet of work. We find this commitment particularly compelling and look forward to learning from it.
