With a dedicated practice on the ground in Seoul, Linklaters LLP handles the full range of advisory matters, supporting international investors and corporations in major inbound transactions, particularly investments into renewable energy, local commercial banks and Korean ECAs. Practice leader and managing partner Joo Hee Lee specialises in multi-source project finance and project development, while energy and infrastructure expert James McLaren advises on offshore windfarm projects. Associate Jenny Jo is also recommended.
Projects and energy: foreign firms in South Korea
Linklaters
Practice head(s):
Joo Hee Lee
Other key lawyers:
Jenny Jo; James McLaren
Testimonials
‘Joo Hee Lee is an excellent partner who provides helpful advice.’
‘The Linklaters Seoul office stands out due to its exceptional team of lawyers who bring unique strengths and capabilities to the table. They consistently provide excellent solutions and demonstrate a high level of proficiency, ensuring efficiency and effectiveness throughout.’
‘Joo Hee Lee’s ability to see the bigger picture and navigate complex financial negotiations with finesse is truly commendable.’
‘The Linklaters Seoul office excels in its ability to provide top-notch solutions during financial contract negotiations and conduct efficient and effective contract documentation. With a collaborative team, a strong emphasis on leveraging technology, and innovative billing practices, they continue to set a high standard for legal services in the industry.’
‘Joo Hee Le, truly stands out for several remarkable qualities that set her apart from others. She demonstrates exceptional abilities and has a uniquely effective approach to her work.’
Key clients
KEXIM
K-SURE
KDB
NH Investment & Securities Co., Ltd.
Samsung C&T
KEPCO
KOMIPO
KOSPO
KNOC
KIND
Lotte Chemical
Ontario Teachers Pension Plan
Standard Chartered Bank
ING Bank
The Bank of Tokyo-Mitsubishi UFJ, Ltd.
Credit Agricole Corporate and Investment Bank
BNP Paribas
Sumitomo Mitsui Banking Corporation
The Hong Kong and Shanghai Banking Corporation
Mizuho Bank Ltd.
CACIB
MUFG
Bank of America
Work highlights
- Advised the lenders on the financing of the Jeonnam 1 offshore wind farm project located in South Jeolla Province, South Korea.
- Advising the lenders including KEXIM, K-SURE and banks on the corporate financing of the Lotte Chemical sponsored Naphtha Cracker Project in the Banten province of Indonesia.
- Advising OTPP on its investment of up to US$1bn in a global offshore wind development joint venture with Corio Generation to support the development of 14 fixed bottom and floating wind projects including in South Korea.
Milbank
Milbank‘s team handles a broad range of advisory matters, supporting major Korean corporations and financial institutions, advising on power production financing. With extensive experience working in Singapore and Japan, David Gartside supports commercial lenders and contractors with infrastructure funding, in addition to financings for power production, electricity transmission, transportation, high-end manufacturing plants and telecoms projects. Special counsel Brian Youn is another key contact in the group, advising on large-scale power financing and development projects.
Practice head(s):
David Gartside
Other key lawyers:
Brian Youn
Testimonials
‘David Gartside is a great communicator, providing solutions and alternatives on conflicting matters with the sponsors.’
Key clients
The Export-Import Bank of Korea (KEXIM)
The Korea Trade Insurance Corporation (K-SURE)
Woori Bank
Korean Airlines
Asiana Airlines
Australia and New Zealand Banking Group, Ltd
Standard Chartered Bank
Shinhan Bank
European Investment Bank
Société Générale
BNP Paribas
ING Bank
Export Development Canada
Work highlights
- Advised The Export–Import Bank of Korea (KEXIM), Korea Trade Insurance Corporation (K-SURE), Euler Hermes and a consortium of international commercial banks in the US$2 billion financing for SK On’s latest Gigafactory plant in Ivancsa, Hungary.
- Advised ANZ and Korea Trade Insurance Corporation (K-SURE) in connection with a US$711 million 7-year term loan facility to finance the construction of an EV battery manufacturing project in Karawang, Indonesia, sponsored by the Hyundai Motor Group and LG Energy Solution.
- Advised a lender group of export credit agencies and international financial institutions in financing the development of a high voltage direct current subsea transmission system in the United Arab Emirates issued by Abu Dhabi National Oil Company and Abu Dhabi National Energy Company PJSC.
Latham & Watkins LLP
With considerable experience in major project development and energy infrastructure-related advisory work, Stephen McWilliams works out of both the Singapore and Tokyo offices, leading the project development and finance team at Latham & Watkins LLP. The group represents Korean and international sponsors, lenders and investors, in a number of high-profile renewable energy, mining and petrochemicals, and LNG deals. Richard Chul Kim operates from the Tokyo office, while associate David Shin advises on various project finance transactions, particularly involving Korean clients.
Practice head(s):
Stephen McWilliams
Other key lawyers:
Richard Chul Kim; David Shin
Key clients
The Export-Import Bank of Korea
Korea Trade Insurance Corporation
Korea National Oil Corporation
Carlyle Asia Investment Advisors
Baker McKenzie LLP, Foreign Legal Consultant Office
Seoul-based Albert Chung, who advises on energy and infrastructure development and investment projects, works alongside practice leader Won Lee to coordinate South Korean coverage at Baker McKenzie LLP, Foreign Legal Consultant Office. The team advises both domestic and international clients on strategic partnerships, project development mandates and cross-border acquisitions. Based in Singapore, Sun Kyun Lim focuses on LNG supply agreements and is another key contact in the group.
Practice head(s):
Won Lee
Other key lawyers:
Albert Chung; Sun Kyun Lim
Key clients
SK E&S Co., Ltd.
Korea Midland Power Co., Ltd.
Korea Western Power Co. Ltd.
Korea South-East Power Co., Ld.
Korea Southern Power Co., Ltd.
Hyundai Oilbank
Pattern Energy Group LP
Hanwha Energy Corporation
SK Gas
Work highlights
- Representing SK E&S on its contemplated strategic partnership in the Asian markets with Plug Power, a NASDAQ listed hydrogen energy company in relation to the SK Group’s USD 1.5 billion investment in Plug Power.
- Advised SK E&S on its investment in a bio-ethanol CCS (Carbon Capture Storage) project developed by Summit Agricultural Group in Midwestern United States.
- Acting for Pattern and GPI on the ¥66.6bn (US$454m) 19-year project financing and project agreements for the 112 MW Ishikari Bay offshore wind project in Hokkaido, Japan.
Herbert Smith Freehills LLP
Of counsel Ken Nam leads the team at Herbert Smith Freehills LLP with the support of global head of energy, Lewis McDonald, who operates from the firm’s London office. The practice handles a broad range of mandates in the energy and natural resources arena, from acquisitions and divestments to deal structuring and LNG matters. Based in Seoul, head of the disputes group Mike McClure KC handles contentious cases, working on numerous power and construction-related arbitrations.
Practice head(s):
Ken Nam
Other key lawyers:
Lewis McDonald; Mike McClure KC
Testimonials
‘Willingness to assist day and night.’
‘Lewis McDonald is experienced and skilled in gas projects. He stands out because he understands client’s needs and always accommodates client’s requests.’
‘The lawyers are experienced in every aspect of gas projects, with sufficient commercial knowledge that is required to review project documents.’
Key clients
Korea Electric Power Corporation
Korea Gas Corporation
Korea Water Resources Corporation
POSCO Group
SK Group
Australian Strategic Materials
Korea Hydro & Nuclear Power
Work highlights
- Advised a Korean investor on its equity investment and offtake arrangements with an ASX-listed company for a graphite project in Africa.
- Advised an international infrastructure fund on its 50:50 joint venture and shareholder loan arrangements for a solar PV project in South Korea.
- Advised a Korean investor on its divestment of shares in a thermal coal mine joint venture project in Australia.
White & Case LLP (Foreign Legal Consultant Office)
The team at White & Case LLP (Foreign Legal Consultant Office) handles large-scale transactions and project financings for Korean and international sponsors in the renewable, oil and gas, and petrochemical industries. Executive partner of the Seoul office, Sungjin Kang has considerable experience advising Korean and international export-credit and private sector lenders. Kang is praised for his ‘in-depth knowledge of the market‘.
Practice head(s):
Sungjin Kang
Testimonials
‘Sungjin Kang is a very experienced partner and has provided tailored professional advices to international and Korean developers, banks and ECAs on various projects including power, renewables, and oil and gas. His in-depth knowledge of the market and solid relationships with partners is outstanding.’
Key clients
Korea Midland Power Co., Ltd.
The Export-Import Bank of Korea
Korea Trade Insurance Corporation
Woori Bank
China Development Bank, Xinjiang Branch
Credit Suisse AG
Mizuho Bank, Ltd.
MUFG Bank, Ltd.
Sumitomo Mitsui Banking Corporation
Brite Energy Partners
PT Wampu Electric Power
PT Semangka Electric Power
Lotte Chemical Corporation
Work highlights
- Advised lenders, including KEXIM, K-SURE and other ECAs on a landmark US$2.3 billion senior financing to Uzbekistan GTL LLC (UzGTL)’, the national oil and gas company of Uzbekistan.
- Advised Lotte Chemical Corporation on the development and financing of a US$3.9 billion large-scale petrochemical complex in Indonesia.
- Advised SMBC on the project financing for the Digital Seoul 1 (ICN10) data center project located in the Sangam Digital Media City in Seoul.