200% A university life fueled by zeal and passion

Jung was a student who meticulously organized his time down to the minute. Prior to his military service, he was deeply involved in university life as a member of both his department’s and the dormitory student councils. However, after completing his military service, the focus of his passion shifted, as he began to contemplate his path after graduation in light of his interest in business. “As I explored various professions, I found management consulting particularly appealing. The idea of working with a company’s management team to analyze problems and come up with solutions fascinated me, prompting me to prepare for a career in a consulting firm.”

During his eight years at KU, Jung immersed himself in various experiences. These included being a member of the Eyes of Global Insight (EGI) and the Korea University Value Investment Community (KUVIC) clubs, internships at investment, consulting, and foreign companies, overseas trips to the US, China, and Japan, and participation in volunteer groups in Uganda, the Philippines, and Vietnam. Through meeting individuals from diverse cultures and backgrounds and through his studies, he naturally developed the skills necessary for business. “In particular, I grew a lot through my activities in EGI. I was able to learn the A to Z of management, which was unfamiliar territory for me as an engineering student. The experience of preparing weekly presentations overnight, delivering them, and providing feedback helped me build my fundamental competencies.”

His exchange program in the US, in particular, provided him with practical insights. “During my time as an exchange student in the US in 2008-2009, the global financial crisis hit. Witnessing numerous companies collapse, I realized that even the best strategies and forms of execution are futile without a solid financial basis. Upon my return, I recognized the need to study finance, so I pursued financial engineering as an interdepartmental major and joined EGI to learn how to analyze companies.”

Lowering the barrier to accessing legal services

Upon graduation, Jung started his career as a consultant at the esteemed consulting firm McKinsey. However, having identified the information asymmetry present in the legal services market, he co-founded Law&Company with his colleagues. “Despite a significant increase in the number of lawyers since the inception of the law school system in 2009, consumers seeking legal services often lacked the necessary information to make informed decisions. Research showed that in more than 70% of civil lawsuits, both plaintiffs and defendants represent themselves without lawyers. We usually compare brands, prices, and features before purchasing even a low-cost product. It struck me that when choosing a legal service—a decision of far greater importance—we should be able to do so based on the cases handled and activities undertaken by lawyers.”

Lawtalk, the core platform of Law&Company, was welcomed not only by consumers but also by lawyers. “Lawyers can build their expertise through Lawtalk. In particular, young lawyers can take on various cases through Lawtalk, which allows them to gain access to clients based on their skills, even without networks or capital. In addition, with online consultations, they can meet more clients per hour than before.”

“Our vision for the future is to grow the legal market by aiding lawyers through technology so that more citizens can access and benefit from legal assistance.”

Changing the market one leap at a time

As the country’s first legal tech firm, Lawtalk found itself at odds with the existing industry. Lawyer associations repeatedly accused the company of illegality. However, the platform has been deemed legal by all the relevant agencies, including the police, prosecutors, and the Fair Trade Commission. The Ministry of Justice made a final decision last fall, stating there was no issue with lawyers’ registration and activities on Lawtalk. Having weathered these challenges, Lawtalk is now poised to take further strides. “With the cancellation of the Bar Association’s disciplinary actions against lawyers who joined Lawtalk, the conflict has come to an end. I think this was an inevitable process in the midst of the digital transformation in all fields. Going forward, we will focus on developing Lawtalk into a service that not only enhances public welfare but also enables lawyers, as service providers, to showcase their expertise with ease.”

With an average of about 1.3 million visitors and 20,000 consultations per month, Lawtalk is preparing to develop and launch a service that leverages ChatGPT technology to boost lawyers’ productivity and efficiency. This initiative aims to foster a healthier ecosystem in the expanding legal services market. “Our vision for the future is to grow the legal market by assisting lawyers with appropriate technology so that legal tech firms and lawyers can coexist and more people can access legal assistance and benefits.”

Jung, whose passionate exploration of his field and preparation for his career now finds him leading a company as Vice CEO, had some advice for KU students dreaming of making a meaningful impact in life. He encouraged them to embrace challenges and even failures, and to maintain a broad interest in our ever-changing world. “I hope you cultivate an interest in as many areas as possible, gain diverse experiences, take on challenges, and engage in conversations with a wide range of people. In this changing world, I urge you not just to follow the pack, but to take the lead. I hope that you will become a global KU student who looks beyond the immediate and sees the wider world.”