The Legal 500

Allen & Overy is ‘very active in the region’ and, as an ‘expert in the capital markets field’, is particularly well known for its work with Korean Development Bank (KDB). In 2012, KEPCO and Korea Gas Corporation both appointed the group to advise on global mining and resources investments and acquisitions. On the banking and finance front, Roger Lui led a team advising a group of lenders – co-ordinated by HSBC and including China Construction Bank, Hang Seng Bank, and Tai Fung Bank – on an offshore RMB loan for E-Land Fashion. The team also advised Bank of America Securities, Barclays, and Citibank on the establishment of Korea Finance Corporation’s $3bn commercial paper programme. Walter Son and John Lee are recommended.

Cleary Gottlieb Steen & Hamilton LLP ‘has been active in Korean capital markets for a long time’, and has four partners – Jinduk Han, Yong Lee, Sung K Kang, and Sang Jin Han. The 17-lawyer team is particularly strong on the debt side, and typically acts for the issuer. A team led by Han and counsel Jay Hoon Choi recently advised Samsung on its $1bn guaranteed notes offering. The firm announced plans to open an office in Seoul in 2012.

Paul Hastings LLP’s ‘active’ practice regularly advises on cross-border M&A, litigation, joint ventures and international capital markets. In 2011, Daniel Kim led advice to Samsung on the $1.4bn sale of its hard disk drive business to Seagate. On the capital markets front, the team advised Goldman Sachs and Nomura on a $900m convertible bond offering issued by Lotte Shopping. Antitrust litigation clients include Korean Airlines, LG Display, and Kolon Industries, and the firm is also handling trade secrets litigation for Honam Petrochemical. The firm has submitted an application to open an office in the jurisdiction.

Simpson Thacher & Bartlett LLP’s ‘top-notch’ team is headed by Jin-Hyuk Park. It recently advised BNP Paribas, HSBC, JPMorgan, Merrill Lynch International, and Morgan Stanley on Hyundai Capital America’s $500m notes offering. It also advised Daewoo Securities and Citigroup Global Markets on Hi-Mart’s share offering, which involved a domestic public offering and an international placement. Park and Youngjin Sohn co-head the team. The firm lodged its application for an office in the jurisdiction in March 2012.

Ashurst Hong Kong’s ‘excellent, knowledgeable, and responsive’ team has ‘cutting-edge expertise’, particularly in securities and derivatives, and is ‘establishing itself in a rapid manner’. It is also noted for combining ‘global technology with local expertise’. The team displayed its skills in cross-border M&A when it advised SK Group on a strategic placement to support Cockatoo Coal’s A$313m growth projects in the Surat Basin. On the projects side, it is advising POSCO on its $5.6bn development of the West Pilbara iron ore project. Peter Kwon and Chris Whiteley are commended for their ‘teamwork’ and ‘proactive mentality’.

Won Lee heads Baker & McKenzie’s team, which has expertise spanning energy, steel and telecoms, and advises on projects, joint ventures and acquisitions. In 2011, it acted for regular client POSCO on its $411m acquisition of all outstanding shares in Thainox Stainless.

Clifford Chance’s team is led by Hyun Suk Kim. It recently advised Barclays Capital, Credit Suisse and RBS as joint co-ordinators of the $700m global depositary receipts issued by OCI. It also advises clients such as Citi, Goldman Sachs and Morgan Stanley on cross-border M&A deals, and has seen an increase in project finance instructions from Korean developers.

DLA Piper made a number of additions to the team, including of counsel Ted Yi (Tokyo), and Franklin Kang and of counsel Yong-Nam Jun (Los Angeles). It has been advising on a number of inbound private equity transactions, as well as outbound transactions to Europe and Australia. A team led by Daniel Lee advised POSCO on the EPC for a $10bn iron ore development project. Other clients include Samsung Securities, Hana Bank and Woori Bank. JC Lee ‘understands the client’s needs’.

Linklaters’ ‘excellent’ team ‘provides a tailored service based on in-depth knowledge’, and has ‘abundant experience in the industry’. The firm is also valued for its ‘ample Korean resources’. Strengths include capital markets, particularly for government issuers such as KOSEP, KORAIL, and KOGAS. It advised KST Electric as borrower on the financing of a 433MW combined-cycle gas turbine in Chihuahua. Hyung Ahn heads the team, which now includes Hyo Young Kang and project finance and energy expert James McLaren. Associate Kyungseok Kim ‘adds value, due to good regional and industry knowledge’.

Orrick, Herrington & Sutcliffe LLP’s ‘excellent’ four-partner team added several new associates in 2011. The firm is active on outbound and inbound M&A across many industries, and advised OCI on its $700m issue of GDRs on the Singapore Exchange. Inbound work included advising Bio Robotics Co Ltd on divesting shares worth $40m. Other clients include Hyundai and Doosan Heavy Industries. Mark Lee is ‘one of the best corporate finance lawyers, not only in Korea, but in Asia regionally’. Michelle Taylor is noted for securitisation work, upon which she has advised numerous airlines and credit card companies.

With 30 years’ experience in the region, Sidley Austin is deeply entrenched in the Korean market, and is well known for litigation and corporate work. Experienced litigator Allen Kim and IP litigation expert Peter Kang are recommended.

Davis Polk & Wardwell LLP’s Eugene Gregor is ‘extremely well respected for capital markets work’, where it has a superb track record. Clients include Korea Finance Corporation, Korea Hydro & Nuclear Power, KDB, and Korea Life Insurance. David Caplan is the main contact in New York.

Freshfields Bruckhaus Deringer’s Neil Chang is ‘very active around Seoul’, and is ‘extremely capable’. Chang is known for big-ticket M&A, private equity and capital markets work, acting for clients such as AIG, Alibaba Group, and LG. His impressive track record includes advising KEPCO on its global offering of eurobonds and samurai bonds, and the privatisation of its assets.

Shearman & Sterling LLP is renowned for projects and matters relating to electric power. Won Lee and Yu-Jin Tay are noted for capital markets and international arbitration, respectively.

Sullivan & Cromwell LLP is ‘excellent for regional equity deals’, and clients include Goldman Sachs and Doosan. Hong Kong-based Michael DeSombre is recommended.

Watson, Farley & Williams LLP is a big name for ship finance and shipping litigation. In 2012, a team led by Goh Mei Lin and Madeline Leong advised various syndicates of lenders (led by names such as BNP Paribas and Citibank) on the $1bn Korean rehabilitation proceedings relating to Korea Line Corporation.