The Legal 500

Boutique shipping firm Choi & Kim is for some the ‘first and only choice’ for maritime matters. Its expertise ranges from insurance and cargo claims to insolvency-related matters, and it has been particularly active in the latter area, recently representing a number of foreign creditors, including shipowners and P&I clubs, on issues arising from the high-profile insolvency of a Korean shipping company. It also acted for a foreign shipowner in a $50m guarantee dispute. JH Choi, CJ Kim and Sonny SW Park are all recommended.

Kim & Chang handles both dry and wet claims for a number of shipowners and P&I clubs. It also advises on shipping finance matters, most recently acting for Korea Development Bank on the financing of three newbuilds for Glovis with a combined value of $133.7m. Byung-Suk Chung is the key figure.

Lee & Ko has ‘thorough background knowledge, and delivers it in a detailed and articulate manner’. In 2010, it acted for Orient Shipyard Co in five shipbuilding contract disputes, and it has also been engaged in the rehabilitation procedure for Korea Line Corporation. Practice head Jin-Young Jung is valued for his ‘dedication and precision’.

Kwon & Moon is ‘a young and dynamic law firm’ that provides ‘superb service at all levels’. The two-partner team has been acting as legal counsel to the Korean government on the Hebei oil spill, the largest such incident in Korean history. Tae Il Kwon has a ‘commercial and practical approach’, and KM Moon is ‘very qualified’.

Pusan Pacific Law Office has an active practice representing shipowners, P&I clubs, insurance companies and stevedore companies in ship collision, salvage and crew injury claims. Young Hwa Suhr is recommended.

Sechang & Co. is acting as counsel to foreign creditors in connection with Korea Line Corporation’s rehabilitation, and is also acting for the creditors in the Chapter 11 rehabilitations of Samsung Logix and Daewoo Logistics. It also acts for Korean companies such as Hanjin Heavy and Glovis. Hyun Kim and HaeYeon Song are the key figures.

Suh & Co acts for shipowners and underwriters in collision claims, and also handles cargo cases and charterparty disputes. Managing partner Dong-Hoo Suh is recommended.

Yoon & Yang LLC has been very active in work arising from rehabilitation proceedings; it acted for SK Shipping in a charterparty dispute with Samsung Logix, and represented foreign shipowners in damages claims arising from Daewoo Logistics’ termination of charter agreements, both linked to ongoing rehabilitation proceedings. Hae Duk Jung is the key figure.

Yulchon is notable for its asset finance expertise, and is regularly called on to advise on shipping finance transactions. In 2010, it represented Korea Development Bank and Korea Finance Corporation in a two-vessel, $180m financing.

Aurora Law Offices is noted for its near exclusive insurer-side practice, regularly appearing in collision and salvage claims for all the major Korean insurance companies. Hong Kyoung Kim is the key figure.

Pusan International Law Offices fields six maritime lawyers who focus on a broad array of shipping disputes.

Yoon & Partners is a new entrant into the market, but name partner Nam Ho Yoon has a strong track record. He is acting for shipowners in various claims arising out of rehabilitation proceedings.