LawTalk

About LawTalk

LawTalk is a South Korean legal-tech platform operated by Law & Company Inc. that connects users with lawyers. The company was co-founded in 2012 by CEO Kim Bon-hwan and Vice CEO Jung Jae-sung, who met at a university club. The LawTalk platform was officially launched in 2014 to address the information asymmetry in the legal market, making legal services more accessible and transparent for consumers. Users can search for lawyers based on their specialty and location, review their experience, and see consultation fees and reviews from previous clients. The platform offers various consultation options, including 15-minute phone calls, video consultations, and 30-minute in-person meetings, with fixed-fee pricing starting from 20,000 KRW.

The company's primary business model is based on advertising revenue from lawyers who pay a monthly fee to be featured more prominently in search results. This model allows consumers to access initial information and post inquiries for free, while lawyers gain a marketing channel to build their expertise and attract clients, particularly beneficial for younger lawyers without extensive networks. Law & Company does not take a commission from the legal fees between the lawyer and the client.

Since its inception, LawTalk has faced significant opposition from the Korean Bar Association (KBA), which has accused the platform of being an illegal broker and has attempted to prohibit its members from using the service. This has led to multiple legal battles and regulatory challenges over nine years, all of which LawTalk has won, with authorities like the police, prosecutors, and the Fair Trade Commission ruling that the service is a legal advertising platform, not an illegal brokerage. In September 2023, the Ministry of Justice definitively ruled in favor of LawTalk, canceling the KBA's disciplinary actions against 123 member lawyers and removing major regulatory obstacles. Despite the legal victories, the prolonged disputes have caused significant financial losses and staff reductions.

Law & Company has secured over 40 billion KRW in cumulative investments and was selected as a preliminary unicorn by the Ministry of SMEs and Startups. Following the favorable legal resolutions, the company aims to achieve a $1 billion valuation. The company is also expanding its services, developing AI-based tools like 'SuperLawyer,' a subscription-based AI chatbot to assist attorneys with legal research and document drafting, and plans to enter the U.S. market.