Advised BNK Asset Management on the related financing and establishment of Korea’s first commodity farming investment fund, the ‘BNK Tuna Private Investment Trust 1’.
Acted for Standard Chartered Bank Korea on a loan transaction of $77 million relating to the development of an office building carried out by the Ascendas Korea Office Private Real Estate Investment Trust No 4.
Hana Financial Investment, Korea Investment & Securities, Mirae Asset Daewoo, Shinhan Investment Corporation
Acted for Korea Trade Insurance Corporation in relation to its partner Abu Dhabi National Oil Company raising $3 billion in debt financing from Santander.
Advised the senior and junior lenders Mirae Asset Daewoo Securities and Meritz Securities on providing $1.6 billion term loan facilities for Hyundai Merchant Marine to acquire 12 container vessels.
Hanon Systems, Kookmin Bank, Korea Development Bank, Standard Chartered Bank
Advised the lenders Samsung Securities, KB Securities and others on an extension of credit facilities to facilitate Macquarie Infrastructure and Real Assets’ total acquisition of Daesung Industrial Gases through a Korean SPV.
Represented borrower SKC Corporation on acquiring financing through a special purpose company for its purchase of copper foil manufacturer KCF Technologies from KKR valued at $1.26 billion.
IMM Private Equity, ING Bank, Kookmin Bank, NH Investment Securities
Advised the lenders involved in the refinancing of existing acquisition financing for MBK Partners’ purchase of Homeplus.
Represented Woori Bank and other lenders on providing debt financing to MBK Partners for its acquisition of controlling shares in Lotte Card.
Barclays Bank, Kookmin Bank, Korea Development Bank, Lotte Tour Development
Advised the Export-Import Bank of Korea in its $100 million project financing for the construction of the Trishuli Hydroelectric Power Plant in Nepal.
Acted for Shinhan Investment Corporation on the establishment of its REIT, the Goyang A Zone REIT, and provided on all financing aspects of its investment in a housing development project in Gyeonggi province.
Cape Investment and Securities, Industrial Bank of Korea, Samsung Securities, Shinhan Bank
Advised Goldman Sachs with respect to a loan facility provided to US-based City Storage Systems acquiring multiple real properties in Korea.
Acted for KTB Investment & Securities and KTB Asset Management in connection with the acquisition of shares in an Austrian company that owned T-Center, a commercial building in Vienna.
KTB Investment & Securities, KEB Hana Bank, Standard Chartered Bank Korea
Represented SK Biopharmaceuticals in its record-breaking Kospi IPO that brought in $800 million. Completed in July 2020, this was the country’s largest listing since 2017.
Advising lead manager Yuanta Securities on the IPO of Cambodia’s largest commercial bank, ACLEDA Bank, on the Cambodia Stock Exchange. Upon completion, ACLEDA Bank will be the first commercial bank in Cambodia to list its shares on the country’s bourse.
Acted for Korea Investment & Securities and Shinhan Investment Corporation on fintech player Settlebank’s $66 million IPO on the Kosdaq market of the Korea Stock Exchange (KRX).
JLK Inspection, Korea Electronic Power Industrial Development, Metanet Mplatform, Mirae Asset Daewoo, OliPass Corporation, Suprema ID
Acted as Korean counsel for Budweiser Brewing Company APAC on its $5 billion IPO on the Hong Kong Stock Exchange.
Engaged by KB Securities as the arranger for the $250 million bond issuance of Eastern Air Overseas, a wholly-owned subsidiary of China Eastern Airlines.
Represented Morgan Stanley and the Bank of America Merrill Lynch as the joint lead managers in connection with the $688 million convertible bond offshore private offering by LG Display.
DBS Bank, Kookmin Bank, Korea Gas Corporation, KT Corporation, Woori Bank
Represented Shinhan Card in relation to its cross-border issuance of $500 million asset-backed securities based on its credit card receivables.
Acted for Hyundai Card on its cross-border issuance of $500 million asset-backed securities based on its credit card receivables and card loans
KB Kookmin Card, KEB Hana Card, Lotte Card, Woori Card
Acted for Mirae Asset Daewoo in connection with the establishment of a $5 billion medium-term note (MTN) programme. The client became the first securities company in the world to establish an MTN programme.
Advised LG Chem on the issuance of three tranche notes due 2023, 2024 and 2029. Globally, this was the first-ever issuance of green bonds by a chemical company.
Represented Hanwha Life Insurance on its issuance of $420 million hybrid bonds due 2049 with an interest rate of 3.69%.
Central Motek, Jetema Corporation, KEB Hana Bank, Korea Hydro & Nuclear Power Corporation, Korea Resources Corporation, Posco
Acting for Hyundai Card on its planned IPO debut on the Korea Stock Exchange.
Advised Yellow Balloon Tour, Korea Investment Securities and KB Securities, on Yellow Balloon’s successful $16.8 million IPO and listing on the Korea Stock Exchange.
Represented ESR Bayman on its $1.6 billion IPO on the Hong Kong Stock Exchange, the second-largest offering in Hong Kong in 2019.
ChunLab, Flitto, Hyundai Capital Services, Shinhan Financial Group
Assisted the Export-Import Bank of Korea in issuing $1 billion global bonds with a dual-tranche.
Advising issuer Avellino Lab USA on its pending IPO in Korea and on its deposit agreement with the Korea Securities Depository to, pursuant to the IPO, list issued Korean depository receipts on the Kosdaq.
Cammsys Global, Korea Investment Holding, National Pension Service, Putra Kary International
Represented co-lead managers Nomura Securities, HSBC and Korea Investment Securities in the $345 million IPO transaction of Lotte REITs.
Advised defence group Hanwha Systems on its $331 million IPO transaction.
Acted for Hyundai Card as originator counsel in connection with the $330 million securitisation of credit card receivables.
GS Caltex, Japan Tobacco International, SNK Corporation, Stic Investments
Represented Intel Corporation, an interested third party, during the Korea Fair Trade Commission (KFTC) investigation as well as the following litigation in the landmark Qualcomm antitrust matter.
Advising homegrown search engine giant Naver Corporation in connection with the KFTC’s investigation into suspected abuse of market dominance. The competition regulator is accusing Naver of restricting competition in the e-commerce market by using its dominant market position.
AU Optronics, Han Express, SeAH Steel Corporation, SK Holdings
Advised IBM and open-source software company Red Hat in obtaining an unconditional clearance from the Korea Fair Trade Commission (KFTC) for IBM’s acquisition of Red Hat. The global mega-merger was valued at $34 billion.
Representing Danaher Corporation in the Korean merger filing for its $21.4 billion acquisition of General Electric’s Healthcare Life Sciences Biopharma Business.
Advised Booking.com International in the KFTC investigation into alleged use of unfair terms and conditions, and on its appeal of the KFTC's corrective order requiring the company to amend its terms of service. The team helped the client obtain a Seoul’s high court decision reversing the antitrust regulator’s corrective order.
Assisted Xperi Corporation and TiVo Corporation obtain unconditional clearance on their merger. Similarly, the team helped Peugeot obtain its unconditional clearance for its 50-50 merger with Fiat Chrysler Automobiles.
Gemalto, Hewlett Packard Enterprise, Momentive Performance Materials, Siemens, Thales
Acted for Saudi Aramco on filing a merger notification over the acquisition of 17% of the shares in Hyundai Oil Bank that it purchased for $1.2 billion. The client obtained unconditional merger clearance.
Assisted SK Telecom and SK Broadband in attaining merger clearance over the clients’ joint acquisition of systems operator T-Broad Corporation.
General Electric, Huawei, MediaTek, Samsung Electronics
Represented Mercedes-Benz Korea in filing a lawsuit to cancel the KFTC’s remedial order and surcharge based on dealer collusion on labour costs. The high court ruled in favour of the client, and when the KFTC appealed to the Supreme Court, the country’s top court dismissed the regulator’s appeal.
Acted for SK Global Chemical in its merger filing related to its acquisition of Arkema France.
CJ OliveNetworks, Fiat Chrysler Automobiles, Lotte GRS, Merck, SK Telecom
Representing Qualcomm as lead counsel in Qualcomm’s appeal of the antitrust regulator’s administrative surcharge for alleged abuse of dominance involving the client’s patent licensing practices.
Advising US-based United Technologies Corporation in obtaining unconditional clearance for the Korea Fair Trade Commission’s review of its acquisition of Raytheon Company. The merger between the aerospace equipment supplier and Raytheon, a defence equipment company, is valued at $52 billion.
Camso, Cathay Pacific Airways, NGK Spark Plug Corporation, Taekwang Group
Defending Qualcomm as co-defence counsel against the Korea Fair Trade Commission (KFTC)’s allegations of abuse of dominance in mobile communication technologies, first before the KFTC in its record-setting $920 million fine decision, then at the Seoul’s high court and now before the Korean Supreme Court.
Representing Thermo Fisher in its $11.5 billion global acquisition of Qiagen to obtain antitrust clearance from the authorities.
Hitachi Automotive Systems, Schaeffler Korea, Woowa Brothers
Acted for Hyundai E&C in a dispute over maintaining successful bidder status after it was revoked. The team helped the client win a motion for a preliminary injunction against the Public Procurement Service.
Represented Ssangyong E&C in a dispute with the joint contractor, which exercised the right to set-off after the decision on the commencement of the client’s rehabilitation process. The team helped its client win the case in the first and second instance proceedings.
B Grimm Power Korea, GS Retail, Hana Financial Investment, Tae Young Engineering & Construction
Represented Kyeryong in a dispute over which company was the winning bidder in a process conducted by the Bank of Korea. The client was being challenged by the second-place bidder, even though it had been based on having the highest technical score and had submitted a bid price that was higher than the estimated price.
Advised developer consortium consisting of Daewoo E&C, Doosan E&C, Pacific E&C and YM General Construction as the plaintiffs in an action against a project owner for claims involving a delay in the construction period and significant changes in design.
Eleven Construction, OneCareWorld, Posco Engineering & Construction
Working with Korea Institute of Ocean Science & Technology on the sale of its original real estate property as it plans to relocate.
Successfully defended Busan Savings Bank in a Cambodian litigation case relating to a business cooperation agreement on the Camko City development project in Cambodia.
Jeonnam Development Corporation, Korea Land and Housing Corporation, Korea Railroad Corporation
Successfully represented a consortium of Hyundai E&C, GS E&C and SK E&C in an action raised against Korea Hydro & Nuclear Power and won all claims for additional payment of $171 million regarding the construction of Shin-Hanul nuclear power plants.
Representing Khan Bio Corporation on all aspects of an avocado farm project and processing factory in Myanmar.
Daelin Industrial, Doosan Heavy Industries, Korea Development Corporation
Advised Singapore-based SIA Engineering Company on its joint venture agreement with a Korean entity, a holding company of a regional low-cost carrier, for a maintenance, repair and overhaul (MRO) business in Korea. This was the first time a Singaporean company has invested in Korea for an MRO business.
Acted for Malaysian listed company CCM Duopharma Biotech on its acquisition of shares of SCM Lifescience, a Korean company that researches, develops, manufactures and sells stem cell therapy products.
Acted for Pan Asia Logistics Korea in a matter related to the purchase and sale of the Mercedes Benz warehouse in Iljuk. A Korean private equity fund bought the warehouse, which has a long-term lease with Mercedes Benz Korea.
Rakuten Group, Siberia Airlines, Want Want China Holdings
Advising SK Chemicals on its $321 million transfer of the bioenergy business to Hahn & Company.
Engaged by Dongbu Steel and its creditors for the transfer of control of the company by issuance of new shares to KG Group and Cactus Private Equity.
Acted for SK Investment Vina II, an investment vehicle established by SK Group for its investment in Vietnam-based Vin Group, on the issuance of new shares to Oogway2, a fund established by IMM Investment.
Advised Smilegate Megaport on its purchase of 100% shares in game developer Super Creative from the existing shareholders.
Kanglim, NH Capital, SK Gas, SK South Asia Investment, Withinnovation Corporation
Acted as lead counsel to Hyundai Motor Company, Kia Motors Corporation and Hyundai Mobis in a $4 billion joint venture agreement signed between Hyundai Motor Group and NYSE-listed auto parts maker Aptiv Technologies.
Advising Hyundai Heavy Industries on its takeover bid for Daewoo Shipbuilding & Marine Engineering to acquire a 55.7% stake worth $1.7 billion in the target.
Represented Divine Kora Holdings on its $2.3 billion acquisition of the existing shares of Daesung Industrial Gases.
Estee Lauder Cosmetics, Lotte Corporation, MBK Partners, Woojin Thinkbig Corporation
Advised MBK Partners on its acquisition of 79.8% of shares in Lotte Card from Lotte Corporation for $1.2 billion.
Represented SKC Corporation, a chemical and tech material subsidiary of SK Group, on its acquisition of global copper foil maker KCF Technologies from KKR for $1 billion.
Acted for Sae-A Trading as the acquirer of 60.5% shares in Korean cardboard and box manufacturer Tailim Package, and on the acquisition of both Tailim Paper and Tailim Packaging. The seller in all these transactions was IMM Private Equity.
Aramco Overseas Company, Hyundai Oilbank, LG, Samsung Electronics, SK Broadband
Represented SJL Partners, KCC Corporation and Wonik QnC Corporation as the buyers in a $3.1 billion acquisition of MPM Holdings, a global silicones and advanced materials company. This was the second-largest outbound M&A transaction ever conducted by a Korean company.
Acted for Kumho Industrial and Asiana Airlines in the sale of the latter to HDC Hyundai Development Company and Mirae Asset Daewoo for $2.2 billion.
Advised Canadian fund manager Alberta Investment Management Corporation on its $2.12 billion acquisition of Daesung Industrial Gases from MBK Partners.
GE, Linde Group, Viacom, Samsung Group, Shinhan Financial Group
Advised Hyundai Motor Company and Gwangju Metropolitan City on their joint venture deal to establish an auto manufacturing company.
Acted for Taiwanese conglomerate Uni-President Corporation on its acquisition of Korea’s Woongjin Foods.
Represented Koramco REIT’s Management and Trust’s acquisition of Citi Bank’s Seoul Headquarters building.
CHA Biotech, E-Land Park, Jiangsu Yawei Technology Investment, Shinhan Financial Group
Advised chemical and pharmaceutical holding company SK Discovery on its merger with SK Syntec valued at $1.1 billion.
Acting for Prudential Financial with the ongoing preparations for the sale of its wholly-owned subsidiary, Prudential Life Korea for at least $1.7 billion. This transaction is expected to be the largest M&A deal of 2020 when completed.
Represented financial investors Hillhouse Capital Management, Altos Ventures, GS PIA and others to sell their collective 87.3% equity stake in online food delivery platform Woowa Brothers to Germany-based Delivery Hero for $3.48 billion.
Geo Young Corporation, Line Plus, Net 1, Silicon Mitus
Acting for domestic cosmetics company Nature Republic in disputes with global distributors over the non-payment of relevant amounts under conventional and e-commerce distribution agreements.
Represented a client in an international arbitration against a Korean Chaebol brought before the Kazakhstan International Arbitrage in Astana. The matter involved the construction of the Four Seasons hotel in Astana.
Accom Immobilien, German Ski Federation & Globetrotter, NH Investment & Securities Company, Vittoria
Represented Korean Education and Research Information Services and 17 other metropolitan and provincial offices of education in a case claiming for payment of service fees related to the infrastructure maintenance and management contracts.
Acting for Daewoo E&C in a damages compensation lawsuit involving a cartel. The team helped the client obtain a Supreme Court decision to quash and remand the case, finding that the client was not responsible for the damages.
Hyundai E&C, Hyundai Motors, Kakao, Ssangyong E&C
Represented Samsung Biologics in a lawsuit to revoke a Securities and Futures Commission (SFC)-issued corrective order that found the client had committed accounting fraud in relation to its equity stake in a subsidiary.
Advised Siemens during the KFTC investigation and subsequent appeal seeking reversal of the sanctions imposed by the regulator.
Represented third-party interveners Huawei and MediaTek in a lawsuit commenced by Qualcomm against the Korean Fair Trade Commission (KFTC) for cancellation of a corrective order. The clients supported the KFTC, which ultimately won a court ruling that its decision was lawful.
Acting for the government of Korea in an investment treaty arbitration under the Korus FTA and 2013 Uncitral Arbitration Rules brought on by US hedge fund Elliott Associates.
Chungho Comnet, Hanwha Life Insurance, Kookmin Bank, Woongjin Coway
Represented Baring Private equity Asia in a $283 million dispute arising from a post-M&A transaction for one of the largest logistics companies in Korea. The arbitration was seated in Hong Kong.
Acting for Korea Western Power in an investor-state dispute filed against the government of India. The client alleges that India’s change in gas allocation policy and its implementation breached the Korea-India bilateral investment treaty and caused $400 million in damages.
JSC Nenskra Hydro, K-Water, Lone Star Funds
Representing SK Innovation in a high-profile claim filed by LG Chem over alleged misappropriation of trade secrets of its electric vehicle battery.
Acting for Kolon Life Science after the approval of its drug Invossa was revoked by the Ministry of Food and Drug Safety over allegations of falsified reports.
Audi Volkswagen Korea, British America Tobacco Korea, General Electric, Keystone Foods, MAN Truck & Bus Korea
Successfully represented Glaxo Group and GlaxoSmithKline Korea in a preliminary injunction proceeding Involving trademark infringement and unfair competition claims against a domestic pharmaceutical company.
Acted for Schaeffler Korea before the supreme court and successfully had all sanctions vacated that were imposed by the Korea Fair Trade Commission for price-fixing allegations.
British American Tobacco, NH Investment & Securities, SOCAR
Successfully represented Louis Vuitton in a high profile litigation case against LG Household & Health Care for trademark infringement based on a product from its subsidiary, The Face Shop. The high court last year decided in favour of the client after LG filed an appeal on the original district court judgement that concluded the product packaging in contention constituted dilution.
Acting for energy drink giant Red Bull in a dispute with a domestic company named Bulls One, an automobile fluid manufacturer and distributor. The dispute involved mutual attacks on the parties’ trademark registrations, and was particularly complex and interesting because market survey evidence was being utilised, a relatively new area of law in Korea.
Representing Microsoft in a case against Asiamuyeok Company for the cancellation of its domain name ‘window10.asia’ and an injunction against its sale of product keys for Windows 10 programme software without the client’s permission. This is the first case in Korea on product keys provided in the licensing of software and will have a significant impact on the widespread sale of product keys in the country.
Apple, Burberry, Crocs, Philip Morris, Tapestry
Successfully represented Kakao in securing a Supreme Court decision to reverse and remand the lower court decision in a case where a video producer sought compensation for damages from Kakao. The producer alleged Kakao had allowed its users to post his copyrighted videos on the Kakao platform without his permission.
Advising Big Hit Entertainment, the exclusive agent of global K-pop phenomenon BTS, in commencing legal action against publisher Asta TV Korea for selling photobooks fronted as entertainment magazines that featured a large number of BTS photos. The court’s decisions are the first-ever to recognise that entertainment companies are also independently entitled to legal protection for their artists’ name, logo, portrait, and photos.
Representing King.com in a landmark copyright infringement case against Korean developer Avocado Entertainment. The Supreme Court rendered a decision in favour of the client, holding that a game is afforded copyright protection if its elements are selected, arranged and combined in accordance with certain intent so that the resulting game has creative characteristics distinguishing itself from other games.
CyberOptics Corporation, Eider, GS Caltex Corporation, Netmarble Corporation, SKC Kolon PI, Tempur Korea
Acted for Chong Kun Dang Pharmaceutical in filing a patent invalidation claim against Bristol-Myers Squibb Company regarding the patent for Eliquis, the worldwide successful blockbuster oral anticoagulant drug.
Advised domestic biotechnology company ViroMed in an arbitration for the transfer of patent rights from Reyon Pharmaceutical, another domestic pharmaceutical player.
BTC, Samsung Display, SBS, Seoul Semiconductor, Wemade Entertainment
Successfully represented golf simulator company Golfzon in a patent infringement litigation seeking an injunction and monetary damages against competitors SGM and Kakao VX.
Defended SK Networks against a patent infringement suit filed by payment systems entity Smartro seeking partial damages of $13 million. Ultimately, the court awarded a judgement in favour of the client and significantly lowered the amount of damages.
HiCon Corporation, Seoul Semiconductor
Assisted Glenwood Private Equity as the general partner as it established a Korean private equity fund called ‘Glenwood Co Investment Private Equity Fund II’.
Advised IMM Private Equity on the formation of its flagship blind fund, IMM Rosegold IV PEF, as well as its parallel investment vehicles.
Korea Investment Corporation, Praxis Capital Partners, STIC Investments
Advised Daishin Asset Management’s real estate fund’s investment in the trust beneficiary rights in the Canalside Building in Japan.
Acted for Hyundai Asset Management on its Crewe Toll Holdings Unit Trust’s acquisition of shares issued by three companies in Bailiwick of Guernsey.
KCLAVIS Asset Management, National Pension Service, SKS Mirae Asset Contents
Advised Mirae Asset Global Investments in a $6 billion transaction involving the acquisition of 15 luxury hotels located in the US from An Bang Insurance of China through a Korean private equity real estate fund.
Represented Mirae Asset Daewoo and its affiliates in their $68.6 million subscription of shares issued by Naver Financial Corporation.
CJ CGV, Hillhouse Capital Management, Unison Capital
Acted for National Intelligence Service employees in their claim for the reinstatement of their public servant status past the retirement age stipulated in the agency’s employment regulations. The Supreme Court ruled that it is unlawful to differentiate between the retirement age for men and the retirement age for women in the public sector, a landmark decision that helped gender equality.
Represented Hyundai Motor Company in a dispute over paid holidays. The court decided that it was valid for Hyundai Motor Company to reduce the number of paid holidays per month and year for executives in its employment rules after adopting a limitation of 40 working hours per week.
Hyundai Engineer, Kakao Bank
Successfully defended Hyundai Motor Company in a case brought by an employee of a dealer that had executed a dealership agreement with it. The plaintiff claimed he was an employee of the client and that he had been illegally dispatched to work for the dealer.
Assisted DuPont Korea in consolidating the working terms and conditions of its different corporate entities.
Successfully defended Hyundai Heavy Industries at all court proceeding stages over a case related to unpaid wages that focused on the inclusion of overseas onsite work allowance in ordinary wage.
Air Products Korea, Pfizer Korea, Qualcomm Korea
Advised professional gamer Kanavi on the termination of his existing contract with his former e-sports team Griffin and helped him sign a new favourable contract with a Chinese e-Sports team.
Engaged by Oracle Korea to formulate and implement a long-term strategy for support in handling and improving labour-management relations, in addition to legal support.
Advising Hyundai Motors on its appeal to the Central Labor Relations Commission (CLRC) after losing a wrongful termination suit at the Regional Labor Relations Commission (RLRC). The CLRC reversed the RLRC’s ruling and found in favour of the client. The employee has filed an appeal.
Citibank Korea, Colony Capital, Kangwon Land, Kia Motors, LG Electronics, Samsung Electronics
Representing Samsung Electronics against criminal investigations and charges of unfair labour practices brought upon it by government prosecution.
Advising Posco in a trial for remedies against unfair labour practices and labour management relationship brought on by a new Posco labour union.
Hanwha Life Insurance, Korea Aerospace Industries, Samsung C&T, WeWork
Advising GE OWS Korea and its subsidiaries on legal advice and compliance related to the operating working hour system according to the amended Labour Standards Act.
Successfully represented Posco ICT in an administrative litigation matter for the remedy of discrimination which was filed by dispatched workers, employees of five subcontractors.
Bayer Korea, BMW, Enercon Korea, GlaxoSmithKline, IBM Korea, McAfee Korea, Otis Elevator, Sanofi Aventis Korea
Successfully represented SK Hynix in litigation brought by its employees alleging that the client underpaid their severance because it failed to include their profit-sharing bonuses in the calculation of severance.
Advised the Blackstone Group in the acquisition of shares of Geo Young Corporation for over $873 million from Anchor Equity Partners.
Acted for MBK Partners on its $1.38 billion sale of 22.2% stake in Coway to Woongjin.
Represented KKR on its $979 million sale of 100% equity interests in KCF Technologies to SKC Corporation.
Ace Equity Partners, Bain Capital Credit, Blackstone, Glenwood Private Equity, IMM Private Equity, JC Flowers & Co, KKR
Advised Orchestra Private Equity in a buyout on its purchase of 86.3% of the shares in top digital dart company Hong International and Japanese corporation HIC.
Represented Evergreen Advisors on its management buyout of 100% of share in UMoment via JJLee Company, a holding company belonging to the client.
Acted for Industrial Bank of Korea Private Equity and BNW Investment in a management buyout transaction where they purchased 100% of the shares of Yellostory. The transaction had a unique structure in that the PE fund established two special purpose companies (SPCs) in a two-tiered structure and after the closing, merged one of the SPCs with Yellostory.
IS Dongseo, Korea Development Bank, Noh and Partners
Advised Bunjang Corporation in a $134 million buyout transaction with PE fund Praxis Capital that saw Praxis take an 80% stake in the client. Praxis chose to acquire Bunjang as the first portfolio company of its newly formed Blind Fund No 3.
Advised IMM Private Equity in the divestiture of its 20.1% stake in cable TV operator t-broad for $280 million. An interesting aspect was the transaction was innovatively structured as the client sold its shares by way of acquisition of treasury stocks.
KKR, MBK, Bain Capital, Blackstone, Hahn & Co, Affinity, and Sequoia
Represented IMM Private Equity on its $616 million minority stake investment in Shinhan Financial Holdings.
Advised TPG Capital Asia’s private buyout of Health Balance, a Korean health supplement and baby food business, from Anchor Equity Partners.
Acted for the founders of local pharmaceutical wholesaler Geo Young Corporation in the sale of their 46% stake to Blackstone for $945 million.
Altos Ventures, Goldman Sachs, Meritz Securities, Praxis Capital Partners
Advised a domestic automaker on potential competition issues that may materialise, such as platform monopoly and the abuse of market dominance in collecting big data, while launching a connected car service.
Acting on behalf of Woori bank for investigations by authorities for criminal charges related to allegations of violation of the financial supervisory service regulation, criminal code, and Capital Markets Act.
BNP Paribas Cardif Life Insurance, Sony Interactive Entertainment Korea, Wallenius Wilhelmsen Logistics
Represented Mugunghwa Trust in obtaining an approval of major shareholders’ change from the FSC during the course of its acquisition of Hyundai Asset Management.
Successfully defended Osstem Implant in an audit review and investigation by the Financial Supervisory Service.
Korea Investment Holdings, Korea Midland Power, L’Oreal Korea, Yuhan Corporation
Represented the custodian of Hwaseung’s rehabilitation and advised Hwaseung in claim allowance proceedings against several creditors.
Assisting JW Pharmaceutical in its objection to rehabilitation security rights claim allowance proceedings.
IBK Securities, Nonghyup Bank, QCP JB Technology Valuation Private Equity Fund
Advised Philippine lenders BDO Unibank, Rizal Commercial Banking Corporation, Bank of the Philippine Islands and Land Bank of the Philippines on the acquisition of shares in Hanjin Heavy Industries & Construction (HHIC) pursuant to the restructuring of the Philippine subsidiary of HHIC.
Acted for Samil PWC to provide legal advice for the creditor financial institutions council of Daiyang Metal during its workout programme.
Representing Korea Development Bank in a confirmatory action with Haengbok during the rehabilitation proceedings of Dongbu E&C and in the appeal that followed.
Dongwon Industries, DVB Bank SE, KEB Hana Bank, Wolverine World Wide
Acting for GS E&C, Koomin Bank and Hanwha Life Insurance in its suit against the city of Uijeongbu to enforce the rights under the operation of the agreement, after the PPP light rail project the clients had provided financing for was declared bankrupt.
Advised Korea Export and Import Bank as the largest creditor in the rehabilitation plan of Sungdong Shipbuilding & Marine Engineering Corporation.
Ascentury Busan, Busan Bank, Daesang Corporation, Joyson Safety Systems Japan KK, Nonghyup Bank
Defending DMC Industrial-Educational Development Foundation against an unjust enrichment claim filed by the bankruptcy trustee of the plaintiff, Korean-German Institute of Technology.
Acting for plaintiff Industrial Bank of Korea against the bankruptcy trustee of Tetra on an objection to the priority order of the distribution of bankruptcy assets.
Daewoo Group, GBS Korea, Hyondae YooHwa, Hynix Semiconductor, SK Global
Representing Koramco REITs Management & Trust and Hana Bank in a case filed by the tenants of a building after the original owner, Newcore, commenced a rehabilitation procedure.
Acting for Daishin AMC in a lawsuit related to the wage-related substitute payment and general right to foreclose outside bankrupty. The outcome of the Supreme Court decision will affect the priorities of dividends in bankruptcy proceedings in Korea.
K-Swiss, Metanet Security, Woori Bank
Represented Cheil General Hospital & Women’s Healthcare Center on all rehabilitation matters, including filing the petition for commencement of rehabilitation proceedings and on a comprehensive stay order to enjoin creditors from enforcing their claims against the debtor.
Successfully acted for Seoul Guaranty Insurance Company in a litigation against financial institution creditors that participated in the workout procedure for 21st Century Shipbuilding.
Heungkuk Securities, KB Kookmin Bank, Samjong KPMG
Acted for the Korean sub-custodian banks of Luxembourg SICAV and SICAF in their appeal against the tax assessment made in connection with withholding taxes on dividend and interest income received. The team led its clients to victories in all three stages of the litigation over a course of six years.
Represented a US-based multinational company in the first Supreme Court case on beneficial ownership in the context of a group restructuring.
Defended Lotte Property & Development against a tax audit from the local tax authorities concerning the acquisition of Lotte Tower.
Amazon, Baring Private Equity, Hanjin, HSBC, LG, MasterCard, Samsung, Shinsegae, SK
Advised the Korea Railroad Corporation in filing for a claim reassessment of paid gains taxes equal to $756 million after a project failed. When the tax authority rejected the claim, the team helped Korail succeed in the appellate court to reversing the tax regulator’s rejection. This was a massive win as the largest ever corporate tax dispute in Korea.
Asiana Airlines, Cha Biotech, CJ Logistics Corporation, Del Monte Korea, Dole Korea, Ssangyong Motor Company, Lotte Group
Assisting a domestic bank to review tax issues that may arise in connection with a foreign company’s capital increase by third-party allocation and its implications to the existing shareholders and related party in Korea who participate in the capital increase.
Provide tax advice to a Korean company on its acquisition of shares of a real estate investment company holding real estate in Scotland.
British American Tobacco Korea, First Abu Dhabi Bank, Hanjin Heavy Industries & Construction, Nestle Korea
Acted for SK E&S and Posco in a dispute over a pricing scheme unique to long-term LNG supply agreement and the appropriateness of dutiable value of LNG imports.
Represented several commercial banks including Woori Bank, KEB Hana Bank, KDB Bank and Export-Import Bank of Korea in a tax litigation to cancel a withholding tax assessment of $24 million on interest paid in connection with refund guarantees. The Supreme Court ruled in favour of the clients.
Asiana Airlines, Janssen Korea, Nexon Korea Corporation