Shin & Kim maintains its esteemed reputation in the market across all areas, and notably moves into the ‘Outstanding’ tier for its corporate and M&A practice. Peers refer to the firm with respect and say that in recent years, the firm is furthering its visibility on matters and building on its historic strengths in capital markets and real estate. The firm boasts a 12-partner strong team dedicated purely to capital markets, one of the largest among all Korean law firms, and runs its IPO and structured finance teams separately under the capital markets wing. Top-tier capital markets specialist Jong-Ho Song returned last year to the firm after a two-year secondment at Taekwang Group. The real estate team was bolstered by the joining of partners Jun Man Shim and Dong Seon Kim from Yoon & Yang, and the corporate team lateralled in Hyoung Soo Kim from Lee & Ko and Jinwon Park, the former head of O’Melveny & Myers’ Seoul outfit.
Banking and finance
Work highlights
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.
Key clients
Barclays Bank, Kookmin Bank, Korea Development Bank, Lotte Tour Development
Capital markets
Work highlights
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.
Key clients
ChunLab, Flitto, Hyundai Capital Services, Shinhan Financial Group
Competition/antitrust
Work highlights
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.
Key clients
CJ OliveNetworks, Fiat Chrysler Automobiles, Lotte GRS, Merck, SK Telecom
Corporate and M&A
Work highlights
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.
Key clients
GE, Linde Group, Viacom, Samsung Group, Shinhan Financial Group
Dispute resolution
Work highlights
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.
Key clients
JSC Nenskra Hydro, K-Water, Lone Star Funds
Energy
Work highlights
Advised Korea Overseas Infrastructure & Urban Development Corporation on a potential investment in a PPP project through a joint venture between GS E&C and a local company that plans to build independent power transmission lines in Bangladesh.
Provided legal counsel to Korea Gas Corporation, which is in negotiations with the Ministry of Trade, Industry and Energy, to review the natural gas supply regulations under the Urban Gas Business Act.
Acted for AES Corporation, the major shareholder in a special purpose company (SPC) that owns the coal-fired Mong Duong 2 power plant in Vietnam. The team advised on a complete restructuring of the dividend mechanism and financing of the SPC.
Key clients
Jeju Hanlim Offshore Wind Power, IGIS Private Equity, Posco Energy
Insurance
Work highlights
Acted for Heungkuk Fire & Marine Insurance in a dispute against the FSC over entering into an outsourcing agreement. The client had filed an administrative lawsuit requesting the cancellation and imposition of fines, and the first instance court ruled in favour of the client.
Assisted JC Partners in obtaining approval for the change of a major shareholder in MG Non-Life Insurance.
Key clients
KB Insurance, Nonghyup Life Insurance, Tongyang Life Insurance
Intellectual property
Work highlights
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.
Key clients
BTC, Samsung Display, SBS, Seoul Semiconductor, Wemade Entertainment
Labour and employment
Work highlights
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.
Key clients
Hanwha Life Insurance, Korea Aerospace Industries, Samsung C&T, WeWork
Private equity
Work highlights
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.
Key clients
KKR, MBK, Bain Capital, Blackstone, Hahn & Co, Affinity, and Sequoia
Real estate
Work highlights
Advised KR1 CR Reit on its sale of Seoul Square building in the largest real estate transaction in the first quarter of 2019.
Acted for the Shin Young consortium on the purchase and development of certain parcels of land located at Yeouido, Seoul. It continued to advise on the following construction of complex facilities, sales facilities, an office building and apartment.
Key clients
IGIS Asset Management, Inmark Asset Management, Mirae Asset Global Investment, Pine Street Asset Management
Restructuring and insolvency
Work highlights
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.
Key clients
Daewoo Group, GBS Korea, Hyondae YooHwa, Hynix Semiconductor, SK Global
Tax
Work highlights
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.
Key clients
Asiana Airlines, Cha Biotech, CJ Logistics Corporation, Del Monte Korea, Dole Korea, Ssangyong Motor Company, Lotte Group
Technology and telecommunications
Work highlights
Acted for SK Broadband to prove that it lawfully improved the cancellation process in accordance with a corrective order issued by the communications regulator.
Represented an affiliate of SM Group, Samra Midas, regarding the approval for the change of the largest investor under the Broadcasting Act after the client acquired 30% of the shares of Ulsan Broadcasting Corporation.
Key clients
China Telecom, Hancom, Kakao, KT, NS Homeshopping, SKylife TV, Tbroad
