The combined firm, D&L, will have 397 Korean-licensed lawyers and aims to serve the legal needs of the country’s largest conglomerates. Its leaders say the harder part, integrating two firms, will take two to three years.
D&L is the new South Korean law firm being formed by the merger of Daeryook & Aju and Lin, which signed a merger agreement in Seoul on 9 November 2026.
With 397 Korean-licensed lawyers as of 31 October 2026, D&L will be the sixth-largest law firm in South Korea by headcount. Including foreign-qualified lawyers, it has 441.
The merger takes legal effect upon registration, which the firms plan to file in mid-December 2026 or later. An official launch event is planned for January 2027.
D&L at a Glance
- New firm: D&L
- Parties: Daeryook & Aju and Lin
- Agreement signed: 9 November 2026, Seoul
- Size: 397 Korean-licensed lawyers, or 441 including foreign-qualified lawyers
- Ranking: Sixth in South Korea by headcount and about eighth by revenue
- Combined 2025 revenue: 143.7 billion won
- Next steps: Registration in mid-December 2026 or later, and a launch event in January 2027
How Did the Deal Come Together?
The agreement was signed in Yeoksam-dong, Gangnam-gu, Seoul, by Lee Gyu-cheol, managing partner of Daeryook & Aju, and Lim Jin-seok, managing partner of Lin. It came a little over six months after the two firms signed a memorandum of understanding on 29 April 2026.
The firms describe the deal as a merger of equals, with Daeryook & Aju as the surviving entity. Their combined revenue in 2025 was 143.7 billion won, which places D&L about eighth in South Korea by revenue.
Why Are Daeryook & Aju and Lin Merging?
The deal pairs two firms with different strengths. Daeryook & Aju is known for litigation, regulatory and cross-border work, and has recently expanded into serious industrial accidents and nuclear power. In 2025, it passed 100 billion won in revenue for the first time.
Lim founded the firm in 2017. It built its practice in corporate advisory work in M&A, finance and intellectual property, as well as AI and platforms.
Lim told reporters that if one plus one only makes two, there is no point in merging, and that the firms must make it at least three. He said the biggest factor in closing the deal within six months was that the much larger Daeryook & Aju embraced Lin as an equal. Lee pointed to mutual need and urgency.
Is South Korea Seeing a Wave of Law Firm Mergers?
D&L is the latest in a run of mergers among South Korean law firms:
- LKB & Partners and Pyeongsan combined in July 2025.
- Won and Minwho merged in October 2026.
- Barun and Dongin signed a merger agreement in September 2026 and are pursuing integration.
Asked about rivals’ merger moves, Lee called it simply a matter of fair competition. He said the firm remains open to further mergers that benefit both the profession and the firm, but has no specific plans at present.
