Shipping: foreign firms in South Korea
Stephenson Harwood
Maritime law is a core focus at Stephenson Harwood, with expert Michael Kim heading up the marine and international trade team in Seoul. The group works closely with its colleagues in Singapore, who are especially active on shipping-related restructuring and financing mandates. Contractual assistance is another key area of work. On the contentious side, the firm covers the full range of onshore and offshore disputes including shipping-related international arbitration, litigation and issues arising from shipbuilding. Kim is noted for his stellar reputation across the board and often works with associate Hannah Lee, who specialises in international arbitration and litigation arising from shipbuilding, offshore construction and shipping law.
Practice head(s):
Michael Kim
Other key lawyers:
Key clients
Hyundai Engineering and Construction
Hyundai Heavy Industries Co., Ltd
Daewoo Shipbuilding & Marine Engineering
Korea Line Corporation
Hanwha General Insurance Co Ltd
The Korea Development Bank
The Import-Export Bank of Korea
KB Insurance Co., Ltd
Chevron International Pte Ltd
The Standard Club
Hanjin Heavy Industries
Hyundai Merchant Marine
Pan Ocean Co., Ltd
Sungdong Shipbuilding
Daehan Shipbuilding Co., Ltd
Sinokor Merchant Marine Co.,Ltd
Japan P&I Club
SPP Shipbuilding Co., Ltd
Eukor Car Carriers. Inc
Macon Charter B.V.
SK Shipping Co., Ltd.
H-Line Shipping Co.,Ltd.
DB Insurance Co., Ltd
Feen Marine Scrubbers Inc.
HHIC-PHIL KOREA
Hyundai Marine & Fire Insurance Co., Ltd
KfW IPEX-Bank GmbH
Samsung Heavy Industries Co., Ltd.
SC Engineering Co., Ltd.
Seil Textile Co., Ltd.
You Chang Trading Corp
Work highlights
- Represented a major South Korean Shipbuilder in its $300m claim against a drilling company.
- Representing a joint venture between two of Korea’s biggest chaebols in relation to the construction of APR-1400 reactor units in the UAE and pursuing claims for substantial variations under the construction sub-contract on a $450m LCIA dispute.
- Represents a major Shipbuilder in defending a claim by the Buyers in the monetary region of $18m.
- Advising in relation to Permissible Delay claims under a contract for one 300,000 DWT Class Crude Oil Carrier arising out of events relating to the failure of stern tube bush and related issues.
- Representing a major Korean shipping company in relation to its dispute against the Shipbuilder involving two LNG new buildings that have been found to have serious defects in their cargo containment systems.
Norton Rose Fulbright
Ben Rose chairs the Asia-wide Norton Rose Fulbright shipping and offshore practice from Singapore. Focusing primarily on asset finance, Rose advises financial institutions, lessors and shipping companies in connection with all types of secured lending, capital raising, leasing, multi-jurisdictional sale and purchase transactions.
Practice head(s):
Ben Rose
Watson Farley & Williams LLP
Operating out of the Singapore office, Watson Farley & Williams LLP primary partner Mei Lin Goh has extensive experience working with South Korea’s largest banks, shipping companies and corporations such as Hanjin, HMM, SK Shipping and Korea Gas Corporation on on shipping finance, project finance and restructuring transactions.
Practice head(s):
Mei Lin Goh
Key clients
Bank of America, N.A.
Standard Chartered Bank
Woori Bank
Bank of Nova Scotia
Norddeutsche Landesbank Girozentrale, Singapore Branch
Work highlights
- Advised Bank of America as facility agent and security agent on behalf of a syndicate of lenders on a loan facility of up to $141m to refinance the existing loan facility in respect of one Panamanian flagged LNG carrier known as m.v. “K.Mugungwha”.
- Acting for Bank of America as facility agent in relation to a $140m refinancing of an LNG carrier known as m.v. “K. Jasmine”, operated by Korea LNG Trading Co., Ltd., a joint venture between, amongst others, Korea Gas Corporation and Korea Line Corporation.
- Advised Sumitomo Mitsui Trust Bank (Singapore Branch) as facility agent and security agent on behalf of a syndicate of lenders on two loan facilities aggregating $40 million to finance the purchase of two MR Product Tankers under construction with Korean shipyard, STX Offshore & Shipbuilding.