South Korea

Established in 1980, Bae Kim & Lee is one of the leading full-service law firms in South Korea with approximately 750 professionals and offices across Asia and the Middle East including Seoul, Beijing, Hong Kong, Shanghai, Hanoi, Ho Chi Minh City, Yangon and Dubai.

The firm is also a member of the World Law Group, an invitation-only international network consisting of 20,000 lawyers from law firms around the world.

Focusses / specialisms  

The firm is best known for its M&A work where it has one of the largest corporate teams in the country, and it is very active in restructuring and insolvency, capital markets, finance and project development. 

Key clients  

Key clients of the firm include Affinity Equity Partners, BNP Paribas, Crédit Agricole Corporate and Investment Bank, Daewoo Shipbuilding & Marine Engineering, Emart, KB Securities, HSBC, KB Kookmin Bank, Keppel Capital, Korea Development Bank and Export-Import Bank of Korea.

Research period review: 33^rd edition (2022/2023)  

During the research period, the firm was active across practice areas including banking and finance, capital markets, M&A, private equity, restructuring and project development.

In the banking sector, the firm was very active providing legal services regarding general banking mandates as well as financing transactions such as asset financing and project financing. The team was particularly active in acquisition financing and advised both borrowers and lenders. Partner Sung Won Park and expert adviser Namsu Kim joined the firm’s banking and finance team in 2022. 

The capital markets team was preoccupied by a number of domestic and overseas IPOs advising issuers and underwriters. The team also assisted clients in share capital increase, block trade and share swap. In debt capital markets, the firm was also busy advising on asset-backed securities and green bond issuance.

The corporate team continues to be busy with public and private acquisitions, financial investments and joint ventures advising both buy and sell side. The team was also active advising private equity and venture capital companies on all stages of the investment cycle. The firm expanded its corporate team by adding partner Su Gu Kang and senior adviser Sungnam Lim.  

In the project space, the firm continues to be active in offshore wind and overseas infrastructure sectors. Partner Kwangmin Rhy joined the project team in 2022.  

Deal highlights: 33^rd edition (2022/2023)  

Meritz Securities’ $8.5 billion financing for the acquisition of Clayton, Dubilier & Rice’s Wm Morrison Supermarkets.

Peak Bio's $180 million Nasdaq listing.

09Women’s W22.4 billion ($17 million) Kosdaq listing.

Lotte Chemical’s W2.7 trillion acquisition of Iljin Materials.

Keppel’s W770 billion acquisition of Eco Management Korea Holdings.

Client feedback: 33^rd edition (2022/2023)  

Banking and finance

“Quick response with detailed explanation.”

Project finance

“Responsive and delivers on time.”

Annie Eunah Lee

“Understands customer's issues well and provides appropriate response.”

Dongha Lee

“Responsive and good in explaining details re Korean law.”

Sae Young Hong

“Met customer's timeline.”

Founded in 1997, Choi & Kim is a boutique law firm in South Korea with capabilities of providing legal services in a wide range of areas including maritime and aviation law, insurance law and international trade dispute resolution.

Focusses / specialisms  

The firm has a strong project development practice with a main focus of maritime law and aviation law. The firm regularly assists clients in relation to contractual disputes including cargo claim and charterparty. The firm also advises clients on collision cases domestically and outside Korea. It is worth mentioning that the firm has been involved in the largest auction case in Korean history in 2000, in which approximately $1 billion was at stake.

In the aviation area, the firm handles various kinds of disputes arising from air transportation including representation of air carriers in defence of claims brought by bereaved families in major air crash accidents.

The firm promoted Mr. K.M. Choi to become a new partner as of June 1 2023. He specialises in maritime/shipping, insurance and international disputes.

Established in 2009, DR & AJU is a full-service law firm resulting from a merger between Daeryook and AJU. The firm has more than 260 professionals including qualified attorneys in Korea and foreign jurisdictions, accountants, patent attorneys, and other qualified experts and advisers.

Focusses / specialisms  

The firm is known for its strength in the corporate and M&A sectors, covering insurance, commercial, real estate trust, corporate governance, shareholder disputes, compliance-related mandates, infrastructure, technology, insolvency and restructuring.

The firm is also capable of handling transactions in relation to capital markets including regularly advising for domestic listings, acquisition finance and financial investments. Active industry sectors include artificial intelligence, ESG, blockchain, fintech, legislation and government relations, gaming, sports and TMT.

Greenberg Traurig is an international law firm with 45 offices across the globe. The firm’s Korea practice is based in Seoul with English- and Korean-speaking attorneys and regularly advises Korean, US and other international clients with respect to both inbound and outbound matters. Apart from South Korea, the firm also has other offices in Asia including Shanghai, Singapore and Tokyo.

Focusses / specialisms  

The firm has the capabilities and experience to guide businesses through every stage of international business. Key capabilities include capital markets, banking and financial services, insurance, blockchain and digital assets.

Key clients  

Key clients of the firm include Hanwha Life Insurance, BNP Paribas, Korea Development Bank, Standard Chartered Bank, Hongkong and Shanghai Banking Corporation and UBS AG.

Research period review: 33^rd edition (2022/2023)  

During the research period, the firm has been very active in the capital markets. The team often advised issuers and underwriters in relation to bond/note issues. It is worth mentioning that the firm has advised on the first tier II subordinated sustainability security by a Korean life insurance company and the first international bond offering by Hyundai Heavy Industries during the 2022 to 2023 research cycle.

Deal highlights: 33^rd edition (2022/2023)  

$750 million tier II subordinated sustainability securities by Hanwha Life Insurance.

$300 million notes offering by Hyundai Heavy Industries.

SFr100 million notes offering by Korea National Oil Corporation.

Founded in 2000, Jipyong is an independent Korean firm with more than 300 professionals. Based in Seoul, the firm has further offices across major cities around the globe including Suncheon, Busan, Shanghai, Ho Chi Minh City, Hanoi, Jakarta, Phnom Penh, Vientiane, Yangon, and Moscow.

Focusses / specialisms  

The firm is well known for its work in M&A, equity capital markets, projects, restructuring and insolvency practices. The firm is also traditionally strong in the project finance area, especially with expertise in real estate finance.

Key clients  

Key clients of the firm include Mirae Asset Securities, Korea Development Bank, Kyobo Life Insurance, Woori Bank, NH Investment & Securities, STIC Investments, Narae Nanotech Corporation, Hanwha Solutions Corporation, Socius Capital, Opus Private Equity, Equinor and Korea Power Exchange.

Research period review: 33^rd edition (2022/2023)  

During the research period, the firm was very active in banking and finance, equity capital markets, M&A, private equity and projects.

The firm’s banking team continues to be active providing legal advice on a wide range of transactions, including capital markets, private equity and hedge funds, acquisition financing, real estate/project finance, financial regulations, compliance and fintech. It is worth mentioning the firm was in particular busy with real estate financing and often advised lenders.

 In the equity market, the firm handled a number of IPOs. Active industry sectors include materials, components and equipment related to the secondary battery, semiconductor and energy industries.

The corporate team was preoccupied with advising clients on transactions in relation to divestments. Apart from that, the team continued to be active in public and private acquisitions as well as joint venture and fund-raising activities. The team was also busy with restructuring work advising both debtors and creditors. 

The project team kept busy with energy and infrastructure deals, often involved in cross-border transactions and has participated in outbound investments by Korean private companies and state-owned power generation companies in the US and Europe.

Deal highlights: 33^rd edition (2022/2023)  

Koramco Energy Plus REIT’s KRW209.4 billion ($0.16 billion) acquisition finance for acquiring South Cheongna Smart Logistics Center.

STIC Investments' listing on the KOSPI Market.

COMES 2018-1M &A fund’s sale of M2I Corporation.

Hanil Holdings' sale of shares in Hanil Networks.

The Yeong Yang Wind Power project-2.

Kim & Chang is the largest law firm in Korea established in 1973. Headquartered in Seoul, the firm has 1,900 professionals with further offices in Hong Kong, Vietnam and Singapore.

Focusses / specialisms  

Kim & Chang is a household name in the Korean legal market and excels in all transactional matters across M&A, private equity, finance, capital markets, project development and restructuring and insolvency.  

Key clients  

Key clients of the firm include Affirma Capital Managers, Biomass, Bain Capital, City Gas, MBK Partners, Samsung C&T Corporation, GS Energy, JP Morgan Securities (Far East), BNP Paribas, Credit Suisse, Goldman Sachs, Nomura Securities, SK Hynix, Samsung Biologics, eBay and KKR.  

Research period review: 33^rd edition (2022/2023)  

During the research period, the firm continued to be active in all practice areas including banking and finance, capital markets, M&A, private equity, restructuring and insolvency, and projects. 

The finance team was very busy with asset financing and project financing, as well as acquisition financing and other refinancing matters. The team regularly advises clients from domestic and overseas including the US, Canada, Germany, Ireland and China. The firm bolstered its banking and finance team with three new attorneys including Hang Jin Chang, Elizabeth Jae Yeon Baek and Jessica Tae Yean Kim.

In the equity capital market, the firm was particularly active in block trades and IPOs, advising issuers, sellers and placing agents. The firm was also active in connection with bond/note issuance and securities offerings by Korean companies in the overseas markets.  

The corporate team was preoccupied with handling transactions in relation to divestments. The firm continued to be active in providing legal advice in all aspects of domestic, cross-border, private and public M&A transactions, including joint ventures, for a broad client base including strategic investors, private equity funds and financial institutions.

In the project area, the firm advised private sector sponsors, strategic and financial investors, state-owned entities, construction and engineering firms, and lenders on various energy, infrastructure and natural resource project development and project financing.

Deal highlights: 33^rd edition (2022/2023)  

LG Energy Solution’s $10 billion KOSPI IPO.

Korea Development Bank’s $30 billion global medium term note programme.

KT Corporation's $500 million 4.000% notes due 2025 listed on SGX.

The Korea Housing Finance Corporation’s $15 billion global covered bond programme.

Cigna Corporation’s sale of LINA Life Insurance Company of Korea to Chubb.

KKR’s KRW735 billion ($0.56 billion) acquisition of redeemable convertible preference shares in SK E&S.

Client feedback: 33^rd edition (2022/2023)  

Asset finance

“Very responsive with great attention to service.”

“They always provide correct and deep advice with practical/workable options for the client.”

Private equity

“As an English-speaking international investor not familiar with the Korean language, the partner on the transaction was able to bridge the language barrier and was sufficiently fluent in English (most big Korean firms will have partners that have done a LLM in US and therefore have decent English language capability) to advise and assist in negotiations. The team also provided typical Korean market norms for comparison. The firm has good internal translators to provide dual-language transaction documentation (as opposed to having external translators).”

Project development

“Very professional, and expertise in all fields. Also, customer-focused and quick turnaround.”

“Broad network with deep legal experience.”

M&A

“Professionalism.”

“K&C has a strong team who are all dedicated to providing top-notch service standards. They are plugged in to the Korean M&A market trends and practices, and able to advise us on nuances that we'd otherwise not be able to appreciate.”

Dae-Hyuk Choi

“Strong relationship with his client, deep knowledge about renewable energy.”

Hi Sun Yoon

“He has worked for the ship finance sector for a long time and provides excellent service to the client. Easy to contact.”

John Sangho Park

“Ability to manage the team at Kim & Chang, client-focused approach, and clear advice.”

Kyoung-ah Grace Nam

“Very attentive, quick to grasp the issue, great response time.”

Min-Young Oh

“Client-focused, in-depth knowledge of project-related areas of law.”

Sean Ahn

“Sean is very responsive to our requests and clarifications, on both specific M&A legal matters as well as other broader legal/regulatory matters (e.g. advice on foreign direct investment regulations and requirements).”

Established in 1977, Lee & Ko is a premier full-service Korean law firm with 550 professionals practising in 40 practice areas. Apart from its offices in Seoul and Pangyo, the firm also has offices in Beijing, Ho Chi Minh City and Hanoi.

Focusses / specialisms  

The firm is strong across all transactional practice areas including banking and finance, M&A, private equity, capital markets, project development and finance, and restructuring and insolvency.

The firm also routinely provides services to clients that require legal assistance in countries such as China, Japan, Vietnam and other southeastern nations, India, the Middle East, Russia, Commonwealth of Independent States, North and South America, and Europe.

Key clients  

Key clients of the firm include Alchemist Capital Partners Korea, the Korean government (Ministry of Economy and Finance), Export-Import Bank of Korea, Korea Development Bank, Hana Bank, BNP Paribas, Citi, HSBC, UBS, Goldman Sachs, Korea Post, SK Group, POSCO, LG Group and Carlyle Group.

Research period review: 33^rd edition (2022/2023)  

The banking and finance team has been active in advising borrowers and lenders in a wider range of financing and financing-related mandates including general banking, project finance, acquisition finance, structured finance and securitization, trade finance, lease and transportation finance, derivatives transactions, insurance and development of financial products.

In the capital markets, the firm was particularly active in debt issuance, advising issuers and underwriters as well as in securitizations. Active industry sectors include banking and financial services, government-owned financial institutions, social infrastructure, energy, natural resources, mining, manufacturing, construction and materials. On the equity side, the firm continues to be active in handling IPO transactions and block trades. Senior consultant Sang June Park joined the firm’s capital market team from the Financial Services Commission in 2022.

The corporate team was particularly busy with significant deals across all industry sectors, both domestic and cross-border. The firm bolstered its M&A team by adding partner Hyungsuk Kang, partner Jin Wook Lee, and partner Jin Hwan Chung in 2022.  

In the project area, the team continued to cover work in inbound and outbound transactions in infrastructure, PPPs, solar power, onshore and offshore wind, fuel cell power plant, data centres, logistics and biomass energy projects.

Deal highlights: 33^rd edition (2022/2023)  

 ArcLight Energy Partners’ $1.24 billion acquisition financing of eight power-generating facilities.

Korea Development Bank's issuance of approximately $2 billion global bonds.

Sale of approx. $1.1 billion shares in Samsung Electronics by way of block trade.

LS Corp’s KRW933 billion ($0.7 billion) acquisition of 49.9% of the equity interest of LS-Nikko Copper.

Development of the wind farm project in Gunwi-gun and Uiseong-gun, Gyeongsangbuk-do.

Client feedback: 33^rd edition (2022/2023)  

Asset finance

“We can identify the key points we need and get feedback at the right time.”

Banking and finance

“Lee & Ko, especially Hyunjoo Oh, is very responsive and provided very detailed advice to my clients to solve their issues.”

“Very responsive and professional. Efficient and smart.”

“Prompt feedback and reasonable legal fee amount.”

“Professional advice with in-depth expertise and timely manner.”

Capital markets

“They provide the best advice to clients based on their high understanding of capital market regulation.”

“Ms. Hyunjoo Oh's team is the most experienced team in Korea for capital market transactions. In debt capital market transactions they are an unparalleled top team in terms of deal flow, knowledge and experience. Lee & Ko has good client coverage, which in turn means they understand client needs well. They have tried to provide client-orientated and customised legal services.”

“They provide the best advice to clients based on their high understanding of capital market regulation.”

“They have a lot of experience and track records in capital market transactions and always provide reliable advice.”

“They have high expertise across the capital markets, I think they provide the best advice in any type of transaction.”

“I received a lot of help with their quick reply and detailed guidance.”

“Expertise with good knowledge about the industry.”

M&A

“They have a wealth of experience in this field as well as great legal knowledge. They always offer competitive solutions.”

“Lee & Ko identified risk points and countered new, unheard of moves brilliantly, not just fighting back and forth, finally finding middle ground where both parties could align.”

“Very attentive and well supported.”

“They always strive to find the best solution for their clients based on their specialised knowledge and wealth of experience.”

“They served every area that needed to be conducted during whole M&A transaction. They represented from setting deal structure, commercial/legal terms negotiations, foreign currency act both in US and Korea, and all administrative regulation compliance including but not limited to antitrust.”

Private equity

“Lee & Ko has in-depth knowledge in this private equity/private debt fund business and has maintained a good network with the financial supervisory boards.”

Project development

“Practical alternatives based on rich and varied experience. Leveraging our experience working with global law firms.”

Investment funds

“They are very active in advising deal term negotiation by leveraging their experience as a corporate side adviser (opposite side of mine).”

Dongyon Kim

“Very responsive and professional.”

“She has high expertise in capital markets and shows good performance in both the debt capital markets and equity capital markets.”

“She has a lot of experience and expertise, and she is faithful to communicating with customers, always providing the best advice.”

“Compared to work experience with other law firms, her expertise in financial law is excellent, and her loyalty to customers is also very nice.”

Hyunjoo Oh

“She has a great reputation in Korean capital markets amongst the lawyers and clients as well as in-depth knowledge of and expertise in the market based on years of experience. Great networking capabilities. Prompt responses at all times. Hard-working.”

“She is a really hard worker. Whenever I ask something, she responds as quickly as possible. I've never seen such a rapid response, which has good content as well. She seems to have abundant knowledge on the Korean debt market.”

“Hyunjoo is very experienced and always provides helpful advice and solutions.”

“She is the most experienced lawyer in the Korean DCM market. She has good coverage on the clients as well. She always tries to understand the situation and to provide better solutions or customised solutions to the transaction team.”

“She has the best understanding of market practice as well as financial regulations, and it is impressive that she actively tries to communicate with customers.”

“Since she has excellent expertise in both financial transaction advice and regulatory advice, she has the advantage of being able to provide integrated advice in relation to the deal.”

“She has excellent expertise and knowledge regarding the industry, and has outstanding expertise in all areas of financial transactions without being limited to certain areas.”

“In-depth legal knowledge for finance companies such as banking, securities and insurance companies, as well as private funds.”

“Active and diverse.”

“Good client relationship, knowledge about the industry and capital market products.”

“Deep knowledge in financial market and prompt response.”

Ho Joon Moon

“He always comes up with legal solutions that can actually help.”

Je Won Lee

“He is one of the most senior lawyers in Lee & Ko and the most responsive one, too.”

Sung Min Kim

“Has very good communication skills with superb knowledge.”

Sanghyun Ahn

“Quick response and friendly guidance.”

Seunga Hyun

“He has a high level of expertise that is hard to find in other law firm lawyers, and he is particularly excellent in advice for financial transactions in the capital markets.”

“He has excellent expertise in both financial transactions and financial regulations, and is also sensitive to the latest market and regulatory trends.”

“He always communicates with customers and tries to provide necessary advice from the customer's point of view, and as a result, he always provides timely and appropriate advice.”

“Very responsive and professional.”

Tae Jung Kim

“He has various experience in both domestic, and cross-border deals.”

Tom (Seungwook) Shin

“Mr. Shin is able to provide us with solutions and alternatives to the problems we face based on his many years of extensive experience.”

Yong Joon Yoon

“He has all the required properties to be an excellent lawyer for a client.”

“He is responsive and quick to identify negotiation points.”

Yi Jun Chang

“He has bright energy and shows great responsibility in solving tasks given by the clients.”

SEUM Law is a boutique law firm based in Seoul. It has a technology focus and is a member of the law firm alliance, TAGLaw. In addition, it is a Korean member of Privacy Rules, a data privacy organisation, as well as the Enterprise Ethereum Alliance.

Focusses / specialisms  

The firm is known for its commitment to the development of the startup ecosystem in Korea. It often works for startup companies, technology companies and venture capital funds handling mid-sized M&A deals for the seller. The firm also advises buyers in local and cross-border transactions.

Key clients  

Key clients of the firm include 500 Startups, Naver Corporation, LINE Corporation, Kakao, Techstars, Hashed, Hyundai Motors, HiteJinro, Daewoong Pharmaceutical Co., Celltrion, Hybe (BigHit Entertainment), Wemakeprice Inc., StradVision, NAVER Z, Knowre, Dior, and Phantom AI.

Research period review: 33^rd edition (2022/2023)  

During the research period, the firm continued to be active in the corporate space. The firm was preoccupied with domestic public and private acquisitions. Active industry sectors including technology and telecommunications, healthcare, industrials and manufacturing, transport, food and beverage, media, fashion, pharmaceuticals and life sciences. Apart from regularly advising on corporate registration matters, the firm was also active in the blockchain/cryptocurrency field.

Deal highlights: 33^rd edition (2022/2023)  

Cake Corporation’s KRW91 billion merger with Hybe Edu Inc.

Genesis Lab Inc.’s KRW20 billion Series B financing.

Cardiac Insight’s KRW27.4 billion sale of 100% shares to DreamTech.

Alpha Vista Investment's KRW16.5 billion investment in Dear Dahlia.

Merck’s €110 million acquisition of Mecaro’s chemical business division.

Founded in 1981, Shin & Kim is a Korean full-service law firm based in Seoul with offices in Beijing, Shanghai, Ho Chi Minh, Hanoi and Jakarta. The firm has over 700 professionals comprising domestic and foreign lawyers, accountants, patent attorneys and tax accountants.

Focusses / specialisms  

The firm has strengths in banking and finance and capital markets. The firm remains active in M&A and project development.

Key clients  

Key clients of the firm include BNP Paribas, Credit Suisse, Novelis Inc., Korea Trade Insurance Corporation, Citibank, Commerzbank, JPMorgan Chase Bank, Toronto-Dominion Bank, Sumitomo Mitsui Banking Corporation, Koramco, Kurly and Chubb.

Research period review: 33^rd edition (2022/2023)  

During the research period, the firm was active in multiple practice areas ranging from banking and finance to restructuring and insolvency.

The finance team was particularly active in acquisition financing, acting as advisers to the largest acquisition financings in Korea in 2021 including KRW3 trillion (approximately $2.7 billion) financing extended to SK Hynix for its acquisition of Intel’s SSD business and Dalian NAND Flash Manufacturing Facility in China. The team also continued to be active in equity and debt financing-related advice and services, including project finance, acquisition finance, ship finance, real estate finance, and debt market investments. The banking and finance team added new partners Ji Hoon Kim, Jongki Kim and senior partner Mooil Moon. 

In capital markets, the firm was preoccupied with REITs offerings and large-scale IPOs. The firm was also active in the debt capital market, advised on the first overseas issuance of Tier 2 subordinated securities by a Korean insurance company and the first overseas issuance of Tier 1 perpetual sustainability subordinated capital securities by a Korean insurance company in 2022.  

In the M&A sector, the firm kept busy with high-profile cross-border transactions cooperating with their regional practices across the globe. In 2022, the firm bolstered its corporate team with new foreign attorneys Chung-In Anthony Choi, James Kang and new partners Hyun Kim, Sangmin Lee, Yeon Woo Choi, and Chaewon Kang.

In the project space, the firm continued to be active in the energy sector including renewables. Partner Hong-Hwa Jeong and Sangmyoung Shin joined the project team in 2023.

Deal highlights: 33^rd edition (2022/2023)  

$3 billion KEXIM covered global financing.

Koramco The One REIT’s RW97.5 billion IPO and listing on the KOSPI Market.

Kakao Mobility's IPO and listing on the KOSPI Market of the Korea Exchange.

8percent’s $100 million P2P loan securitization.

Chubb’s $5.75 billion acquisition of LINA Life Insurance of Korea, Cigna Korea and LINA Financial Service.

The $300 million financing of the construction of Hana Micron’s semiconductor packaging plant in Brazil.

Yoon & Yang is an independent Korean firm with offices in Seoul, Ho Chi Minh City, Tashkent, Hanoi and Jakarta. The firm is also a member firm of TerraLex and Interlex Group.

Focusses / specialisms  

The firm is strongest in the equity and debt capital markets, M&A, and restructuring and insolvency, and is active in finance and private equity.

Key clients  

Key clients of the firm include Woori Bank, KEB Hana Bank, KEXIM, IBK, Meritz Securities, Samsung Securities, NH Investment & Securities, Goldman Sachs, Credit Suisse, CLSA, SK Group, Hanwha Group, Hanjin Group, Kogas, KEPCO and Korea South East Power.

Research period review: 33^rd edition (2022/2023)  

During the research period, the banking and finance team was busy advising domestic and foreign clients on complex regulatory matters and were particularly active in transitions related to project and acquisition financing. Partner Joonho Kim, senior foreign attorney H. K. Helen Sohn, Jason W. Lee, Song Feng Hong joined the firm’s banking and finance team in 2022. 

In the capital markets, the firm continued to advise domestic and overseas companies on their IPOs and listings on KRX. The debt capital market team was preoccupied with handling debt work for KEXIM for its issuance of global bonds, including kimchi bonds, samurai bonds and hybrid bonds.

In the corporate sector, the firm kept busy with handling public and private acquisitions including investment through private equity funds. The restructuring team continued to be active advice for both debtors and creditors. Active industry sectors included manufacturing, aviation, energy, and heavy and chemical industries. The firm strengthened its practice with the arrival of partner Jongsang Lee, senior foreign attorneys Sung Jin Ro, Jason W. Lee, and Song Feng Hong to the corporate team in 2022 and 2023.

The project team continued to be active in the energy and infrastructure industry, including both litigations for energy companies and advisories for energy sectors.  

In 2022, Yoon & Yang joined the Asia Securities Industry & Financial Markets Association as an attempt to expand its client basis to foreign securities firms and banks.

 Deal highlights: 33^rd edition (2022/2023)  

KRW116 billion sale of Cosmo Tower.

Soosan Industry’s KRW200 billion IPO on the KOSPI.

BioNote’s KRW234 billion IPO on the KOSPI.

Doosan Enerbility’s $1.9 billion investment in NuScale Power.

The Legoland PF case.

Client feedback: 33^rd edition (2022/2023)  

Private equity

“Experts with rich relevant experience helped successful investment execution based on careful consideration and expertise.”

M&A

“Their services are very good. The person in charge is attentive and responsive.”

“Highly dedicated and proactive, noticeable investment in continued improvement in quality of service and immediate attention to client's feedback.”

“Feedback is well organised in a timely manner.”

“I am satisfied that they provide professional and in-depth analysis on any issues our company faces. They are also proficient in quickly and accurately understanding our goals and presenting ideas which are helpful to our company, even in untypical deals. I believe it’s because of the extensive experience they have gained over the years. As far as I know, the lawyers I work with, such as Sung-Jin Kim and Hyerim Kang, have accumulated extensive experience in the M&A field and have provided broad legal consultation on diverse types of transactions for clients in various industries.”

“I, as an M&A expert in Korea, believe it is important to work with experts who have various backgrounds when I handle M&A deals. Comprised of accountants, tax attorneys and foreign attorneys as well as Korean attorneys, I believe that Yoon & Yang’s one-stop advice is second to none in the Korean M&A market. In addition, Yoon & Yang’s M&A attorneys have good negotiation skills and a high level of industry knowledge, so that I could close the M&A deals successfully. It is always impressive that they always come up with fast and effective responses to complicated legal issues. Therefore, I will continue to retain Yoon & Yang in the future.”

Dae Sagong

“Extremely dedicated to client satisfaction; proactive and responsive.”

Hyeong Joon Choi

“He is very attentive and responsive. He understands the needs of clients and provides services of very good quality.”

Hyerim Kang

“She has a quick understanding of deal structures and a remarkable ability to anticipate potential issues, so she offers specialised advice on what the company and working-level staff should be mindful of. She is truly impressive in that she is very cool-headed, realistic and objective when it comes to analysing legal issues, yet always friendly and approachable and shares genuine concerns with us, working-level staff, while taking their perspectives into consideration.”

Jung Hwan Lee

“Well experienced and provides comment in a timely manner.”

Kayoung Kim

“Kayoung Kim is a diligent lawyer who puts top priority on satisfying our company’s legal needs. Her responses are very efficient and quick.”

Sung-Jin Kim

“He is consistently responsive and offers prompt and precise analysis of legal issues in any situation. Furthermore, he stands out from other attorneys not only for his precision in a legal standpoint, but also for providing comprehensive legal consultations that take into account both business aspects and what our company ultimately wants. The owner of the company I previously worked for trusted Sung-Jin Kim enough to often seek his advice on business decisions as well.”

Established in 1997, Yulchon is an independent Korean firm with more than 600 professionals and offices in Seoul, Moscow, Shanghai, Yangon, Ho Chi Minh City, Hanoi and Jakarta.

Focusses / specialisms  

The firm is best known for its M&A work and concomitant expertise in financial distress, hostile M&A and shareholder activism. Its capital markets practice has been gaining traction of late as has its finance, private equity and projects teams.

Key clients  

Key clients of the firm include Korea Trade Bank, Korea Development Bank, Hana Bank, Goldman Sachs, TPG, Multi Asset Management, Lotte, IMM, BMW, Nomura Securities, Samsung, Hanwha, CJ, SK, Hyundai Motor, and Korea Electric Power Corporation.  

Research period review: 33^rd edition (2022/2023)  

The banking team continued to be active in the area of capital markets, securities, structured products and derivatives-related transactions. The firm regularly advised banks as lenders as well as corporate borrowers on a wide array of banking work involving bank loans, structured finance, finance-linked derivatives for hedging purposes, asset-backed securitization, real estate finance, acquisition finance, asset finance and project finance.

The corporate team kept busy with complex corporate transactions, restructurings, foreign investments, regulatory matters and legislative support projects. Notable deals included advising Korea Investment & Securities in its stock acquisition of KakaoBank and advising Lotte in the merger of Lotte Confectionery and Lotte Food. The private equity team was also active providing legal services to all issues in matters affecting private equity or venture capital funds.  

In the capital markets, the firm was preoccupied with securities issuance, block trades, IPOs and overseas ABS, as well as offshore funds activities.

In the projects sector, the firm was active in both conventional and renewable energy projects and particularly active in handling transactions in southeast Asia.

The firm expanded its team by adding partner Choon Ku Choi, Hyo Jeong Doh, Eun Young Kim, Seong Mun, Se Jin Jung, and foreign attorney Myung Jae Lee. 

Deal highlights: 33^rd edition (2022/2023)  

BMW Financial Services Korea’s $282 million ABS.

Hyundai Capital’s KRW600 billion issuance of ABS.

Lotte’s merger of Lotte Confectionery and Lotte Food at approximately KRW3.9 trillion.

Korea Investment & Securities’ stock acquisition of KakaoBank in approximately $2.7 billion.

Curious Partners Investment’s KRW1.04 trillion acquisition of drillships under Samsung Heavy Industries.

Client feedback: 33^rd edition (2022/2023)  

M&A

“Professional attitude.”

“Great value (with the right team). Capable, responsive service.”

“Yulchon analysed the pros and cons of the commercial litigation and gave some opinion about the complementary measures for the litigation.”

“They are very professional. All the partners have very good professional legal knowledge. They have a very good business manner.”

“Yulchon is reliable and cost-efficient.”

“We like their aggressive attitude when assisting us.”

“Very competent expertise and proactive service.”

Insolvency

“Insolvency is their strong area. We usually rely on them when our accounts enter into insolvency proceedings. They always provide us with firm and supportive advice.”

Hyung Ki Lee

“Hyung Ki Lee has a very good understanding of our business and provides practical guidance.”

“Commercially savvy and pragmatic.”

“Offers innovative solutions and proactive support.”

Jin Kook Lee

“Smart and responsive.”

Kim Gun

“Conducts business in a customer-friendly manner.”

Ki Young Kim

“He has the good knowledge and rich experience of the bio-industry and thus provides an exact and precise consulting service.”

Sun Kyoung Kim

“Mr. Kim always provides us with advice on a strategic point of view and also makes sure that all stones are turned over.”

Sy Nae Kim

“Ms. Kim is very responsive, and very quick in catching the big picture in a case. She is very devoted to her cases, which makes us fully rely on our lawyer and consult on every detail.”

Tehyok Daniel Yi

“Responsive and smart.”

“He is very gentle. He has a very good business manner. He is very professional and smart.”

The multinational law firm Ashurst has a physical presence in 17 countries around the world. It is active in South Korea through its Hong Kong office.

Focusses / specialisms

The firm stands out for its capital markets work, in particular its structured finance and securitisation advice, where it assists clients in innovative bond and note programs.

The corporate and M&A group at the firm advises on the establishment of joint ventures and incorporation in South Korea. In addition, the firm assists clients as buyers and sellers in cross-border transactions.

Key clients

Notable clients for the firm include Samsung Bioepis, Hyundai Motor Group, Export Import Bank of Korea and HSBC Hong Kong.

Clifford Chance is a London-based magic circle law firm with over 3300 lawyers and 34 offices across 23 countries. The firm was one of the first international law firms to establish an office in Seoul in 2012.  

Focusses / specialisms

The firm advises Korean clients in overseas concerns and international companies investing in Korea. It is best known for its UK and US law advice in the debt capital markets work and was historically strong in M&A, particularly in outbound real estate.   

Key clients

Key clients of the firm include Citigroup Global Markets Asia, Societe Generale Asia, JPMorgan Securities, UBS and Shinhan Alternative Investment Management.  

Research period review: 30th edition (2019/2020)

During the research period the firm kept busy advising on Korean green and formosa bonds alongside programme updates and acquisitions in the logistics sector.  

The firm was hit with the departure of its Korea managing partner Hyun Kim to YKVN’s Singapore office.  

Deal highlights: 30th edition (2019/2020)

-Hanwha Group $300 million green bond issue

-K-Water $100 million formosa bond issue

-Pacific Asset Management  and Savills Investment Management €140 million acquisition of two Amazon logistic properties in Dortmund 

LAB Partners is a boutique firm established in 2018. The firm's office is based in Seoul.

Focusses / specialisms  

The firm is experienced in corporate M&A, capital markets, private equity, structured finance and securitisation.

Key clients   

Key clients include Navis Fidelis, Derkwoo Electronics, Milestone Magenta Private Equity Fund, and SG Core.

Research period review: 32^nd edition (2022/2023)     

The corporate and M&A team was very active in private acquisitions and financial investments including shares buyout, purchase of convertible bonds, and acquisition of redeemable convertible preference shares.

The corporate team welcomed two new partners, Alex Lee hired from Bae Kim & Lee, and Hyunwoo Kim hired from Shin &Kim.  The firm also added three new associates, Dongmin Kim, Seongsoo Lee, and Jin Kim. 

Deal highlights: 32^nd edition (2022/2023) 

Navis Fidelis W13 billion acquisition of Hanzo

Coway W43 billion acquisition of iOBED

SVIC 55th New Tech Business Investment Fund W64.9 billion purchase of convertible bonds and new shares issued by DUK SAN NEOLUX

Client Feedback: 32^nd edition (2022/2023)    

Asset finance

"Well versed in Korean ABS transactions. Always patient in addressing queries. Exceeds expectations, despite complexities and tight timelines involved in deals."

Capital markets: Structured finance and securitization

"Very good knowledge of the legal environment. Very efficient execution."

M&A

"LAB Partners is prompt with their responses regarding our enquiries. They have always been very reliable."

Private equity

"They provide top-tier quality legal services in investment and M&A sector for both buyer and seller sides at an affordable local firm price range. "

Jeesun Park

"Always patient in addressing queries. Familiar with Korean ABS transaction documentation."

Young-Hee Jo

"Good responsiveness and problem-solving."

Youngju Kim

"Very considerate and always on time. Has always delivered more than expected."

"He is full of professional experience in his areas and able to communicate efficiently. He is one of the best legal advisers in the investment sectors in Korea."

Established in California in 1934, Latham & Watkins is an international firm with 2700 lawyers across 29 offices in the United States, Europe, the Middle East and Asia. The firm’s three-partner-strong office in Seoul was established in 2016 and leverages off its Asia network of offices in Beijing, Shanghai, Singapore and Tokyo. 

Focusses / specialisms

The firm’s Korea practice is best known for M&A and projects and infrastructure transactions, but can also handle venture capital, financing, restructuring, intellectual property, disputes and capital markets matters for its Korean clients. 

Key clients

Key clients of the firm include Hyundai Motor Company, Anadarko Petroleum Corporation, Daelim Energy, Kexim and K-Sure.  

Research period review: 30th edition (2019/2020)

During the research period the firm handled acquisitions, joint ventures, refinancing and project development mandates in the automotive, power, energy and oil and gas industries.  

Deal highlights: 30th edition (2019/2020)

-Hyundai €156 million acquisition of 41.9% stake in Sixt Leasing

-Hyundai Motor Company / Aptiv  joint venture

-Mong Duong 2 1240MW thermal power project

-Mozambique LNG project

O'Melveny & Myers is a global law firm with 18 offices and more than 750 lawyers across Asia, North America, and Europe. The firm was founded in 1885 and established its foreign legal consultant office in Seoul in nearly ten years.

Focusses / specialisms 

The firm’s Seoul office and Korea practice is especially known for advising clients in M&A and private equity transactions. It’s corporate focus also include joint ventures, growth investments, leveraged acquisitions, private equity buyouts, going-private transactions, carve-outs and spin-offs.

Key clients 

Notable clients include Samsung, Hanwha SolarOne, DL Chemical, CJ ENM, SK E&S, Dongwon Group and GS Energy.

Client Feedback: 32nd edition (2022/2023) 

M&A

“Top notch end-to-end legal advisory service for M&A, with a strong industry team dedicated to due diligence / risk assessment, a seasoned M&A team for negotiations and documentation, and overall great experience with O'Melveny's thoughtful communication and stakeholder management.”

Ropes & Gray

Established in 1865, Boston-based Ropes & Gray is an international law firm with over 1400 lawyers and 11 offices across the United States, Asia and Europe. The firm became the first foreign legal consultant office in Korean history when it opened in July 2012.

Focusses / specialisms 

The Seoul team is best known for its intellectual property and disputes work, but on the transactional front, it launched its M&A practice in 2013 and is known to act for private equity firms.

Key clients 

Key clients of the firm include Bain Capital, Bain Capital Credit, E-mart, Hugel, Korea Investment Corporation, KKR, Korea Resources Corporation, LG International, Mirae Asset Capital and TPG Capital.

Shearman & Sterling is a New York-based international law firm with 850 lawyers across 24 offices. The firm’s Seoul office was established in 2019 and leverages off its global and Asia network to carry out transactions in Greater China, Southeast Asia, Japan, India, Mongolia and South Korea.

Focusses / specialisms 

The firm’s Seoul office focuses on advising Korean clients on a full range of project-related work across the across a wide range of sectors, including oil and gas, petrochemicals, transportation, thermal, nuclear, renewable and power infrastructure.

It also coordinates with its network to handle Korea-related arbitration, competition and funds matters.

Key clients 

Key clients of the firm include The Export–Import Bank of Korea, Korea Trade Insurance Corporation, Korea Development Bank and Korea Overseas Infrastructure & Urban Development.

Skadden Arps Slate Meagher & Flom

Formed in 1948, Skadden Arps Slate Meagher & Flom is a New York-based international law firm with 1700 lawyers across 22 offices. The firm established its office in Seoul in 2014.

Focusses / specialisms 

The Seoul office is focussed on advising Korean and international companies on M&A, private equity and capital markets transactions, as well as energy and infrastructure deals and international disputes matters.

The firm covers a wide range of industries, including semiconductor, technology, automotive and financial services.

Key clients 

Key clients of the firm include SK hynix, Korea Zinc, SK Group, Samsung Electronics, Hanwha Group, CJ CheilJedang, GS Group, Hyosung Corporation, LG Hausys and SM Entertainment.