In this session, we consider the burning questions that arise both before and after foreign law firms are permitted establish a presence in newly open jurisdiction. Starting from the example of our host country, South Korea, we look around the world at how the presence of foreign law firms can impact on a local legal market. We consider how market opening has affected clients, the local profession, the local justice system and the bar, as well as how it has worked for the foreign law firms themselves. We debate the merits of different models, timetables and regulatory regimes for market opening. And we discuss what more the IBA can do to share this knowledge and experience. This is meant to be a highly interactive roundtable, led by a panel of distinguished speakers drawn from all corners of the globe, but with ample opportunity for extensive audience participation.