Projects and energy: local firms in South Korea

Kim & Chang

Kim & Chang's projects and energy practice acts for sponsors, construction firms, investors and lenders. The firm has advised Korean companies working on projects in a range of countries including China, Vietnam and Indonesia. The team is co-led by Yon-Kyun Oh and Ick-Ryol Huh. Oh advised Taekwang Power on the multi-jurisdictional Nam Dinh project worth $500m. Huh works in project finance, with domestic and offshore experience. Young-Kyun Cho acted as lead partner advising Korea Development Bank on the project financing of Samcheok Thermal Power Plant worth $4.2bn. Claire (Mi-Jin) Kim is an expert on project finance and energy matters and is likewise recommended.

Practice head(s):

Yon-Kyun Oh; Ick-Ryol Huh

Other key lawyers:

Young-Kyun Cho; Claire (Mi-Jin) Kim

Key clients

KEXIM The Export-Import Bank of Korea

S-Oil Corporation

KOGAS (Korea Gas Corporation)

Marubeni Corporation

KDB (Korea Development Bank)

Work highlights

  • Advised Samtan and Shinhan Consortium on its acquisition of 100% shares of Yeongyang Wind Corporation and Youngduk Wind Power.
  • Advised Hahn & Company Private Equity Group (“Hahn & Co.”) on its purchase of a 27.5% stake in SK D&D from SK Gas Co. Ltd. and an individual shareholder for approximately KRW 195.3 billion.
  • Advised KEXIM on the project financing of Canakkale 1915 Bridge Project in Turkey.
  • Advised KEXIM on the project financing of Mina Justa copper mining project in Peru.
  • Advised Electricity Generating on its acquisition  of 49% interest in Paju Energy Service.

Lee & Ko

Lee & Ko's practice advises investors, insurers, contractors, government agencies and banks in regards to project and energy matters. The firm undertakes domestic and cross border work in power projects and in relation to conventional and renewable energy matters. Dong Eun Kim, co heading the team, represented Shinhan BNP Parisbas Asset Management and Korea Investment & Securities in restructuring financing for Uikeongbu Light Rail. Tom Shin , also a co head, has been active on financing for renewable energy projects, including wind and solar. Hun Ko has acted for financial institutions and construction companies in relation to project finance for renewable energy, PPI projects and real estate work. Hyunsu Kim, experienced in infrastructure projects, real estate development and project finance, is recommended.

Practice head(s):

Dong Eun Kim; Tom Shin; Hun Ko

Other key lawyers:

Hyunsu Kim

Key clients

Daelim Industrial Co., ltd

Korea Hydro & Nuclear Power

Hyundai Rotem

Bloom Energy

Dealim Energy

Samsung Life Insurance

Work highlights

  • Represented KDB infrastructure investments asset management in the investment into a Canadian PPP project.
  • Represented Daelim Industrial in the investment into the Canakkale suspension bridge project on a build operate transfer basis.
  • Represented Shinhan Bank and Shinhan Bank Vietnam in the investment into the Vietnamese photovoltaic project.
  • Represented KTB asset management in the investment into the partial acquisition of limited partnership interest in an UK infrastructure investment fund, Equitix MA VII LP.

Bae, Kim & Lee LLC

Bae, Kim & Lee LLC is prominent in the power, oil and gas sectors as well as in infrastructure projects covering highways, railroads and airports. Seungkyo Lee leads the team with knowledge of power projects, investments and project finance. Hyunchul An, alongside Lee, advised the Ministry of Land, Infrastructure and Transport in relation to a project to produce environmentally friendly cement and concrete. Chinpyo Park is a key member of the team with experience in electricity and gas regulations.

Practice head(s):

Seungkyo Lee

Other key lawyers:

Chinpyo Park

Testimonials

‘The team is experienced can provide a full service involving M&A activity, such as legal, tax and anti-trust.’

‘Junhhwan Bae and Hyunchul An are key members of the team. They are very specialized in M&A activity and are very familiar with thr refining and petrochemical sectors’.

Key clients

Ministry of Trade, Industry and Energy

POSCO

Veolia

Hyundai Heavy Industries Holdings  Co., Ltd.

LG International Corp

 

Work highlights

  • Acted as legal advisor for Hyundai Heavy Industries Holdings  Co., Ltd. as the seller and provided comprehensive and general legal services, from the outset of the Transaction, including the preparation of the MOU, the response to the purchaser’s legal due diligence, the negotiation and preparation of agreements, the review of legal issues relating to the transaction structure.
  • Advised NH-Amundi Asset Management on the acquisition of privately placed senior bonds (the “Notes”) issued by the operator of the Adani Abbot Point Terminal (“AAPT”), a major coal-export terminal in Queensland, Australia.
  • Advised Korea Western Power Co. Ltd. (“KOWEPO”), a subsidiary of the South Korean energy major Korea Electric Power Corporation, on its investment dispute with the Government of India.

Shin & Kim

Shin & Kim handles the full range of project work concerning infrastructure, solar power, energy storage systems, fuel cells, electricity generators and liquefied natural gas (LNG). On the energy side, the group's workload is evenly split between power projects involving conventional sources (coal, oil, and gas) and those involving renewable sources. In the latter space, the firm is developing a reputation for handling a large number of wind power projects, and those pertaining to offshore wind generation specifically. Michael Chang is the name to note for outbound project investment work while Seung-Gyu Yang boasts a wide-ranging practice. Financing expert Hyunju Helen Pak is also recommended. Sang-Hyun Lee is practice head.

Practice head(s):

Sang-Hyun Lee

Key clients

POSCO Group

SK Energy

SK Hynix

AES

National Pension Service (NPS)

Korea Export Import Bank (KEXIM)

Korea Trade Insurance Corporation (K-Sure)

Korea Gas Corporation (KOGAS)

SK E&S

Korea Electric Power Corporation (KEPCO)

Lotte Chemical Corporation

Work highlights

  • Acted as counsel to POSCO for its acquisition of POSCO Energy’s off-gas combined power plant business by way of spin-off and merger transaction.
  • Acted as transaction counsel to POSCO International for the share transaction involving the acquisition of a substantial interest in the Sulphur Springs Copper-Zinc Project in the Pilbara Region, Western Australia which is currently 100% owned by Venture Resources.
  • Legal advice to KOGAS and review on revised bill related to revision of natural gas tariff scheme.
  • Korean counsel to the lenders (including Korea Trade Insurance Corporation) on the Bahrain BMP Project.
  • Advised Korea Trade Insurance Corporation in connection with lenders’ financing to be extended to a special purpose company to be incorporated by a consortium.

Jipyong

Jipyong has seen an increase in the number of cross-border energy and project instructions, especially those involving outbound investments by private Korean companies. The firm focuses on representing investment managers on their financing of renewable energy projects, often solar or wind generation ventures or those focusing on energy saving solutions (ESS). It also occasionally handles mandates related to social infrastructural in developing countries. Besides project financing, team head Cheol Jeong also specialises in M&A and corporate governance. Hye Jung Ryu is the name to note for energy transactions and disputes involving Russia, Central Asia, Iran and the Middle East.

Practice head(s):

Cheol Jeong

Other key lawyers:

Hye Jung Ryu

Key clients

SolarConnect

B.Grimm Power Public Company

Korea Offshore Wind Power

Yeongyang Windpower II

GS Yeongyang Windpower

Hanon Systems

Work highlights

  • Advised Kyobo AXA Investment Managers in connection with the fund’s PF investment into 5.5MW solar power plant project.
  • Advised Samchully Asset Management in connection with the fund’s financing investment in 4MW ESS-linked solar power plant project.
  • Advised PineStreet Asset Management in connection with the fund’s PF investment in a 1.2MW solar power plant project.
  • Advised Kyobo AXA Investment Managers in connection with the fund’s PF investment in a 4MW solar power plant project.
  • Advised KDB Infrastructure Investments Asset Management in connection with the fund’s PF investment in the 1.9MW Dogye solar power plant project.

Yulchon

Yulchon undertakes work on infrastructure, real estate development and PPP projects. The firm has developed an expertise in renewable energy and emissions trading alongside its knowledge of conventional energy in the domestic South Korean Market. Raymond M.Kang heads up the team and advises on greenfield and brownfield energy and infrastructure matters alongside financing for energy projects. Kang's experience extends to work in China, Indonesia, Cambodia and Vietnam. Yong Hee Yoon possesses an expertise in energy and environmental law and is also recommended.

Practice head(s):

Hee Woong Yoon; Raymond M Kang

Key clients

Hanwha General Chemicals

SK Chemicals

BayWa r.e.

Mirae Asset

Asia Development Bank (ADB)

Work highlights

  • Advising Lotte Group in connection with a real estate development project in Ho Chi Minh City’s location of Thu Thiem District in Vietnam.
  • Advised Khan Bio Co on the Mynamar Avocado Farm Development Project.
  • Conducted the legal feasibility study, including due diligence and analysis for Metro Line #4 in Ho Chi Minh City in Vietnam.

Yoon & Yang LLC

Yoon & Yang LLC's practice is notable for its litigation capability and transactional advice in the energy and infrastructure sectors. The firm advises South Korean and multinational companies. Soongki Yi leads the team, working on cross border energy matters, M&A and transactional work. Joon Man Shim is a key member of the practice with expertise in project financing and work in relation to real estate projects.

Practice head(s):

Soongki Yi

Key clients

Korea Southern Power

Korea Hydro & Nuclear Power

Korea Water Resources Corporation

Korea Gas Corporation

Korea National Oil Corporation

Work highlights

  • Provided Korea Electric Power with advice on its power generator project in Guam.
  • Advised Korea Hydro Nuclear Power on its hydropower development project in Indonesia.
  • Advised Korea West Power Corporation on its geothermal power plant project in Kenya.
  • Providing NH Networks with comprehensive legal advice for Solar Power business.