Corporate and M&A: foreign firms in South Korea

Cleary Gottlieb Steen & Hamilton

Considered the ‘top go-to US firm’ on the ground for cross-jurisdictional corporate transactions, Cleary Gottlieb Steen & Hamilton‘s market leading team provides a full service to high-profile Korean clients on outbound investments and a wide range of transactional work. With decades of experience, Sang Jin Han leads the team in handling private equity M&A, joint venture, and share and convertible bond acquisition transactions. Jae Sung Kim is a respected advisor in intellectual property-infused matters, as well as internal reorganization work. Ji-Won Lim advises on corporate government matters and public M&A, while Ki Won Ahn advises on a wide range of acquisitions.

 

 

Practice head(s):

Sang Jin Han


Other key lawyers:

Jae Sung Kim; Ji-Won Lim; Ki Won Ahn


 


Testimonials

‘Cleary is the top go-to U.S. law firm in Korea for the past three decades. Cleary’s practice is diverse encompassing capital markets, M&A, antitrust and litigation, which is very rare for a foreign law firm in Korea.’

‘Sang Jin Han  is a well versed M&A practitioner sought by both Korean corporations and private equity firms.’ 

‘Cleary’s Korea practice is very strong and the best among all foreign law firms in Korea. They have vast experience in Korea, particularly in M&As involving Korean target companies and their outbound transactions. They are outstanding and other foreign firms are not even comparable to them. ’

Key clients

Blackstone Group


CBC Group, Mubadala, GS Holdings and IMM Investments


CJ Group companies


GIC Private Equity


Hahn & Company and its portfolio companies


Hanwha Group companies


MBK Partners and its portfolio companies


Naver Corporation


Palantir Technologies Inc.


POSCO Group companies


Samsung Group companies


Sequoia Capital


SK Group companies


Ashurst

Now present in the Korean market as a joint venture with HwaHyun, Ashurst services Korean and foreign clients with its ‘extremely knowledgeable, proactive and helpful,’ team. Leading the team is ‘industry leader’, John Kim who is a key figure in advising on the full range of cross-jurisdictional corporate and M&A transactions. Supporting the team head is Huiyeon Kim, who leads on international joint ventures and high-value investments in the energy and automotive industries. Senior associate Woo Kim handles outbound acquisitions and equity investments. Another key team member is Max Lee.

Practice head(s):

John Kim


Other key lawyers:

Huiyeon Kim; Woo Kim; Max Lee


Testimonials

‘John Kim’s expertise in corporate and M&A transactions is top tier. His depth of knowledge within this practice area has true depth and breadth.’ 

‘Huiyeon Kim is a detailed oriented partner who is known for her execution skills. She is quick, tenacious and immensely invested in client care.’

‘Woo Kim is very professional and great to work with. He is deeply knowledgeable, yet easy to talk to.’

Key clients

Hyundai Motor Group


Hyundai Motor Company


Hanwha Solutions


Hyundai Glovis


Kia Corporation


Mirae Asset Capital


Forest Partners Co Limited


Samsung Bioepis


Gobi Partners Inc


Samsung SRA


Kakaomobility


Hyundai Mobis


DLA Piper

With a diverse practice spanning cross-border corporate and M&A transactions, venture capital and private equity funds, as well as a range of recapitalisation and restructuring work, DLA Piper‘s team continues to be a notable figure on the Korean legal landscape. Managing partner Daniel Lee co-leads the team with head of corporate for Asia Luke Gannon. Ted Yi handles foreign direct investment, post-acquisition integration, and general corporate counselling, while California-qualified foreign legal consultant DK Donghyun Kim is sought after for a broad spectrum of deals. Senior associate Theresa Huh deals with a range of regulatory and tax issues.

Practice head(s):

Daniel Lee


Other key lawyers:

Luke Gannon; Ted Yi; DK Donghyun Kim; Theresa Huh


Key clients

POSCO International


LG Chem


Work highlights


  • Advised POSCO International on its acquisition of Senex Energy, a listed company in Australia, for AUD 860M.
  • Advised LG Chem on forming two joint ventures with the Archer-Daniels-Midland Company as a part of LG Chem’s global ESG initiative to develop and produce polylactic acid products.

O'Melveny

With a distinguished track record for advising Korea’s three largest conglomerates, O'Melveny‘s expanding team also handles a range of high-profile outbound M&A transactions. The team is co-led by Daniel Sae-Chin Kim and Woojae Kim, with the latter handling various joint ventures and high-value investments in the energy and entertainment industries. Hae-in Park is a trusted advisor on preferred stock financings and initial public offerings, as well as on major acquisition transactions, with the latter also handled by Owen Kim. Los Angeles-based Joseph Kim is the head of the firm-wide Korea practice.

Practice head(s):

Daniel Sae-Chin Kim; Woojae Kim


Other key lawyers:

Haein Park; Owen Kim; Joseph Kim


Key clients

Dunamu


Hankook Tire


Hyundai Mobis


Hyundai Motor Company


Kakao Healthcare


Mando


Samsung Asset Management


Samsung Electronics


Samsung SDI


SK Innovation


SK hynix


SK On


Yanolja


Work highlights


  • Advised Samsung Display in its US$218 million acquisition of eMagin Corporation.
  • Advised DL Chemical Co in its US$2.5 billion acquisition of Kraton Corporation.
  • Advised SK E&S in its US$25 million Series D investment.

Ropes & Gray LLP

Ropes & Gray LLP‘s highly-regarded corporate and M&A team for Korea is led by the ‘extremely well-regardedJaewoo Lee on the ground in Seoul. The team handles a range of cross-border corporate transactions including high-value private equity acquisition, outbound sales of Korean companies, and investment management. Kelly Hyunsoo Jin advises on majority and minority investments in the entertainment industry, while Keun Shin focuses on joint ventures and co-investments within the energy industry.

Practice head(s):

Jaewoo Lee


Other key lawyers:

Kelly Hyunsoo Jin; Ethan Kim


Testimonials

‘Jaewoo Lee is extremely well regarded by private equity players, corporations and law firm colleagues alike. He is extremely bright and always works towards a common goal, whether for a  friend or foe. ’

‘Jaewoo Lee has a deep understanding of local market practices in South Korea, but at the same time has a strong understanding of the global financial investor.’ 

‘Ropes & Gray is client oriented, always doing their best to understand the clients situation carefully and thoroughly. They think deeply in clients’ shoes. ’

 

 

Key clients

Bain Capital Private Equity


Bain Capital Special Situations


E-mart


KKR


Korea Investment Corporation


Korea Mine Rehabilitation and Mineral Resources Corporation (formerly Korea Resources Corporation)


LS MnM (formerly LS-Nikko Copper)


Mirae Asset Capital


Naver Corporation


TPG Capital


Skadden, Arps, Slate, Meagher & Flom LLP

With a significant track record on the ground in Korea, Skadden, Arps, Slate, Meagher & Flom LLP ‘s corporate and M&A team has a ‘superb international reputation,’ and a ‘deep pool of technical knowledge’. Led by H Young Shin from the Seoul office, the team represents both Korean and international corporations and financial institutions in cross-border acquisitions in the energy, metal, and technology sectors. Hyungsoo Kim handles a bulk of these acquisitions and post-closing matters, while also handling various high-value joint ventures and investments.

Practice head(s):

H. Young Shin


Other key lawyers:

Hyungsoo Kim


Testimonials

‘Skadden’s legal team in Korea remains one of the finest in the market, with an impressive reach across the different types of service and a deep pool of technical knowledge. They combine outstanding capabilities in cross-border transactions with a superb international reputation.’ 

‘H Young Shin  is a prestigious lawyer, leading Skadden’s Korea Practice as a trusted advisor on complex and technically challenging transactions. He looks into issues objectively and comprehensively, and provides unique and pragmatic insights. He has a calm demeanor when handling pressing issues, and gives us clear, concise and practical advice.’ 

‘Skadden’s Corporation and M&A team is unparalleled in their ability to make extremely difficult deals possible. Their problem solving ability and diligence is literally top-notched. The team has the most capable attorneys in the market. ’

Key clients

Korea Zinc Company, Ltd.


SK hynix Inc.


The Middleby Corporation


Hanwha Group


Korea Zinc Co., Ltd.


White & Case LLP (Foreign Legal Consultant Office)

White & Case LLP (Foreign Legal Consultant Office) ‘s team has ‘strength and depth’ in the Korean corporate and private equity market, particularly in handling commercial inbound and outbound transactions for Korean conglomerates. The Seoul office is led by Dongho Lee, who handles a broad range of complex cross-border joint ventures, acquisitions and investments, particularly in the power and technology sectors. Specialising in mergers and private equity work, Younghee Chung works closely with New York partners Chang-Do Gong  and Robert Chung , while senior associate Kyle Oh works on extremely high-value corporate transactions.

 

Practice head(s):

Dongho Lee


Other key lawyers:

Younghee Chung;  Chang-Do Gong; Robert Chung; Kyle Oh


Testimonials

‘White & Case has strength and depth in many global jurisdictions and practice areas.’ 

‘Dongho Lee is a pleasure to work with – smart, responsive, pleasant, and tenacious in negotiations. ’

Key clients

Brite Energy Partners


Creative Artists Agency


Daewoo Shipbuilding & Marine Engineering Co. Ltd.


Jinho Chang and Minho Chang, founders of Medit Corporation


GLAAM Co.


Green Cross Holdings Corporation


Hexatronic Group


KDB Investment


Korea Investment & Securities


LOTTE Corporation


Samsung Electronics


SK Holdings


Yanolja Cloud


Zinus


Work highlights


  • Advised the founders of Medit Corporation in the sale of their interest in the company.
  • Advised Daewoo Shipbuilding & Marine Engineering on its US$1.3 billion sale of a stake to Hanwha Group.
  • Advised Zinus in its US$732 million sale of a stake to Hyundai Department Store.

Baker McKenzie LLP, Foreign Legal Consultant Office

Baker McKenzie LLP, Foreign Legal Consultant Office‘s team has decades of experience in acting for Korean businesses on multi-jurisdictional transactions across a wide range of industries. Team head Won Lee advises on cross-border M&A and joint venture transactions, specialising in energy and infrastructure development. Jae-Hyon Ahn regularly represents key stakeholders, financers and contractors in financing matters, while foreign legal consultant Albert Chung, who is qualified as a New South Wales solicitor, advises Korean clients on outbound purchase agreements.

Practice head(s):

Won Lee


Other key lawyers:

Jae-Hyon Ahn; Albert Chung


Key clients

SKC Co., Ltd.


GS Holdings Corp.


LG Electronics Inc


Work highlights


  • Advised SKC on the spin-out of its business developing and commercializing glass substrate, securing venture financing from Applied Ventures, and in negotiating a business collaboration agreement with Applied Materials.
  • Advised LGE regarding its Series B investment in SideChef Group Limited, a Hong Kong-based company specialized in content development services, marketing and advertising services.
  • Advised GS in its participation in consortium with Carlyle Asia Partners V, L.P. for joint bidding for acquisition of Medit Corporation.

Milbank

Following a major expansion of the South Korea office in 2022, Milbank has continued to expand its presence and expertise in Korea’s corporate finance and M&A market. Managing partner of the newly expanded Seoul office, David Cho has decades of experience in international corporate practice and leads the team in numerous cross-border and high-value M&A and financing transactions. Special counsel Spencer Park also joined the firm in 2022, and specialises in advising large conglomerates and asset management companies. Another key team member is Amos Yoo.

Practice head(s):

David Cho


Other key lawyers:

Spencer Park; Amos Yoo


Testimonials

‘Milbank have vast experience, and a deep understanding of the Korean market.’

‘David Cho is dedicated and client oriented, while Spencer Park has a vast understanding of the Korean corporate and M&A market.’ 

 

Key clients

SK ecoplant Co., Ltd.


Hana Alternative Asset Management Co., Ltd.


SK Geo Centric Co., Ltd.


Oaktree Capital Management


Paul Hastings LLP

Paul Hastings LLP‘s large international network and expertise make it an option for Korean clients dealing with high-risk M&A transactions and corporate financing. Team head Dong Chul Kim advises domestic Korean clients on outbound transactions among other work, while Iksoo Kim handles a wide range of acquisitions, joint ventures, and represents Korean clients in domestic and international private equity transactions.

Practice head(s):

Dong Chul Kim


Other key lawyers:

Iksoo Kim


Testimonials

‘Partner Iksoo Kim offer a broad range of world-class expertise on any Corporate and M&A matters, acutely carved out for the Korean corporate practice in an attentive manner. This combination of skills is very unique in the market. ’

‘Paul Hastings has a wide range of experts & professionals that clients rely on.’

‘The Corporate and M&A practice at Paul Hastings LLP is distinguished by its exceptional expertise and capabilities in handling cross-border transactions and corporate matters. The team possesses in-depth knowledge of international laws and regulations, enabling them to effectively navigate the complexities of cross-border deals.’ 

Key clients

Samsung Group


Hanwha Group companies


SD Biosensor


SJL Partners


Korea East-West Power


Korea Investment Corporation


CJ Group companies


LG Group companies


HYBE


Lotte Group


SK Hynix


IYUNO Media Group


CJ ENM


Netmarble


Work highlights


  • Advised SJL Partners and SD Biosensor on a definitive merger agreement to acquire Meridian Bioscience, Inc., a NASDAQ-listed diagnostic testing solutions and life science raw materials provider, in an all-cash transaction for US$1.53 billion.
  • Advised Hanwha Solutions in its Series A funding investment in Ampcera Inc., a US-based innovator in the development and commercialisation of high-performance solid-state electrolyte materials.
  • Advised Hanwha Systems Co., Ltd., a South Korean shareholder in OneWeb, on its proposed combination with Paris-based satellite operator Eutelsat to create a global multi-orbit satellite broadband operator.

Latham & Watkins LLP

Spearheaded by Wonsuk Kang, Latham & Watkins LLP’s transactional practice in Korea continues to strengthen and expand. The firm handles a high number of mandates for Korea’s notable businesses, specialising in representing clients from the industrials and manufacturing, information technology and semiconductor sectors. Senior associate Regina Jinseo Kim is a core member of the Seoul team and handles inbound Korean private equity deals for global clients.

Practice head(s):

Wonsuk Kang


Other key lawyers:

Regina Jinseo Kim


Simpson Thacher & Bartlett LLP

Advising from their Hong Kong office, the team at Simpson Thacher & Bartlett LLP has ‘outstanding experience’ in handling private and public M&A and inbound and outbound private equity investments. Team head Jin Hyun Park has over three decades of experience in the field, working on buyouts and minority investments, representing strategic clients and handling IPOs. Promoted to counsel in January 2023, Joongwon Park represents Korean clients in a wide range of financing transactions, specialising in the real estate and energy industries.

Practice head(s):

Jin Hyuk Park


Other key lawyers:

Joongwon Park


Testimonials

‘The team has outstanding expertise and experience in M&A transactions, is knowledgeable about the Korean market, and is capable of working seamlessly with local counsel to deliver the best work product for the client. ’

‘Joongwon Park is a fast, efficient and very capable professional whose organized approach and dedication to the client’s needs was an invaluable quality in driving the deal forward. ’