Banking and finance
Work highlights
Acted for GS Energy and Korea Western Power (the sponsors) of the third LNG Combined Cycle Power Plant in Pyoung Taek, Korea on all aspects of the project including the project financing.
Advised Baring Private Equity Asia and the lenders in connection with Baring’s refinancing of its existing acquisition loan for its acquisition of shares of Kyobo Life Insurance.
Key clients
Korea Electric Power Corporation, Korea Investment & Securities, National Pension Service, Woori Bank
Capital markets
Work highlights
Advised the underwriters on the IPO of ING Life Insurance on the KRX. This deal will be the leading case of public placement in Korea through which a major PE house recoups its investment in a financial institution.
Advised Korea Investment & Securities on Samyang Packaging Corporation’s public offering of existing shares on the KRX.
Key clients
DBS Bank, Lotte Card, Netmarble Games, Shinhan Bank, Sumitomo Mitsui Banking Corporation
Competition/antitrust
Work highlights
Represented five among the 28 construction companies investigated by the KFTC, alleging that they colluded to manipulate the bidding prices with respect to the Wonju-Gangneung railway construction. The KFTC found the five construction companies not guilty and issued a written decision in June 2017.
Assisted Valeo, world-renowned automotive equipment manufacturer on the establishment of a Korean joint venture with PHC Group that combines the parties’ torque converter businesses. The firm led the merger filing in various jurisdictions and also acted as coordinator for the work of lawyers in China and Japan.
Key clients
Doosan Heavy Industries & Construction, Hyundai Engineering, Linde, Qualcomm
Construction
Work highlights
Advised POSCO Engineering & Construction in a lawsuit regarding the cancellation of the sale of Songdo POSCO E&C Building construction project.
Key clients
Daesan Green Energy, Hwain Construction, Samsung Fire & Marine Insurance, K Securities
Corporate and M&A
Work highlights
Advised Korea Electric Power Corporation (KEPCO) and COPA Fund on the acquisition of a 235MW solar power facility located in California by acquiring the three project companies (Astoria 1, Astoria 2, and Barren Bridge)’ equity interests.
Acted for Greens Ledge, a financial advisor to Social Finance, in the sale of shares to a selected group of Korean investors through a tender offer. This is the first investment by Korean investors in the US fintech market.
Key clients
DS Power, IMM Private Equity, Kakao, Macquarie Capital Korea, SK Holdings, Woongjin Group,
Dispute resolution
Work highlights
Defended Hyundai Elevator in a shareholder derivative lawsuit against Schindler Group, the second largest shareholder of Hyundai Elevator, in respect to Hyundai Elevator’s execution of derivative contracts with its shares in Hyundai Merchant Marine (HMM), in order to maintain its management control over HMM.
Acted for IMM Private Equity, Mirae Asset Private Equity, Hana Financial Investment Private Equity in a shareholder dispute seeking payment of the share purchase and sale price KRW700 billion against DICC, a Chinese subsidiary of Doosan Infracore. This lawsuit was the first lawsuit in Korea that addressed the meaning of minority shareholders’ right in connection with a drag along/tag along sale.
Key clients
Incheon Metropolitan City, KB Kookmin Bank, Lotte Group, Ministry of Science, Samsung Display, Shinseng Industrial
Intellectual property
Work highlights
Acted for Wemade Entertainment in a copyright dispute against Actoz Soft relating to the game Legend of Mir 2.
Key clients
Hanmi Parm, Korean Broadcasting System, Korea United Pharm, Seoul Broadcasting System
Labour and employment
Work highlights
Representing STX Heavy Industries (STX) in a lawsuit claiming unpaid wages and severance pay by former employees hired by a Chinese affiliate of STX. This case is expected to cause a significant ripple effect among larger corporations that have multiple subsidiary and affiliate companies where employees are commonly transferred and dispatched among such subsidiaries and affiliates.
Regulatory
Work highlights
Represented Korea IPTV Broadcasting Association which includes KT, SK Broadband and LG Uplus in response to the rise of payment rate of broadcasting communications development fund set forth by the Framework Act on Broadcasting Communications Development as well as providing support for smooth communication between operators and the Korean Ministry of Science, ICT and Future Planning.
Key clients
Hyundai Home Shopping, Korea IPTV Broadcasting Association, Korea Telecommunication Operators Association
Restructuring and insolvency
Work highlights
Acted for Golfzon County on the acquisition of Lake Hills Suncheon Country Club through a rare pre-package plan rehabilitation proceedings.
Tax
Work highlights
Advising Samsung SDI in connection to application for a correction of acquisition tax. This case is significant because based on the outcome of this case it will be determined whether physical criteria or non-physical criteria should be used when interpreting ‘direct use’ as a basis for tax assessment.
Key clients
Korea Cable Television and Telecommunications Association, Korea Gas Corporation, Korea South-East Power
