Kim & Chang > Seoul, South Korea > Firm Profile
Kim & Chang Offices
39 SAJIK-RO 8-GIL
JONGNO-GU
SEOUL 03170
South Korea
Kim & Chang > The Legal 500 Rankings
South Korea > Antitrust and competition: local firms Tier 1
With the largest antitrust team in Korea, Kim & Chang is ‘unparalleled in terms of expertise and depth of resources‘. Continuing to secure its position as a leading practice, the firm further strengthened its bench and contentious capabilities with the recruitment of Bongseog Kim, a former non-standing commissioner of the KFTC. Co-chairs Youngjin Jung and Gene-Oh (Gene) Kim have outstanding experience in all areas of antitrust enforcement in merger control, international cartel and abuse of market dominance. Min-Ho Lee is an expert in antitrust and consumer protection laws, particularly those involving IP rights; his practice is complemented with Brian Tae-Hyun Chung‘s experience advising clients in the TMT, tobacco and retail sectors. Foreign attorney Jung-Won Hyun and Hemi Lee are notable for their expertise in the healthcare and IT industries.Practice head(s):
Other key lawyers:
Testimonials
‘Kim & Chang’s antitrust team is unparalleled in the Korean market in terms of expertise and depth of resources. The team, based on its experience in the most cutting edge cases in Korea, always comes up with innovative views benefiting the client in times of need. ‘
‘Kim & Chang’s antitrust team is very reliable in terms of professional knowledge, and they provide practical advice based on multiple experience in enforcement cases. Highly supportive especially in handling on-site investigations.’
‘Jung-Won Hyun is very responsive and knowledgeable, and her advice is always helpful and practical.’
‘Hemi Lee is a dedicated attorney with the client’s best interest at heart. She is a great communicator and possesses great strength in breaking down complex cases into facts and legal arguments from a strategic point of view. She has played a crucial role in the Kim & Chang team’s securing important wins for the company in recent years, and comes highly recommended.‘
Key clients
Apple Inc.
Booking.com
SK Inc.
Samsung Electronics Co., Ltd.
Audi/VW/Porsche
Hyundai Motor Group
Siemens Healthineers AG
AstraZeneca plc
Korean Air Co., Ltd.
Work highlights
- Represented Korean Air in the global merger filing for the KRW 1.5 trillion acquisition of 63.9 percent of shares in Asiana Airlines.
- Advised multinational medical equipment companies on their appeal seeking reversal of KFTC administrative sanctions regarding alleged abuse of market dominance under the Monopoly Regulation and Fair Trade Law.
- Represented Faurecia in the KFTC’s review of its acquisition of HELLA GmbH & Co. KGaA.
South Korea > Banking and finance: local firms Tier 1
Kim & Chang’s sizeable market-leading banking team is chaired by senior partner Kye-Sung Chung, a well-respected advisor to foreign and domestic financial institution clients on commercial and investment banking issues. Housing a number of specialist; Ick-Ryol Huh, Young Kyun Cho, Young Min Kim and Ie Hwan Yoo, are experts in project and acquisition financing, particularly in infrastructure, petrochemicals, aircraft and ship financing. Elsewhere, Sang Jin Ahn is sought after by Japanese clients, and Hi Sun Yoon, by private equity funds and export credit agencies. Seon-Jee Lee continues to be active in structured finance, block-chain, NFTs, and virtual assets.Practice head(s):
Kye Sung Chung
Other key lawyers:
Testimonials
‘Kim & Chang is the best law firm with the most competent and expansive team in the Korean legal market supported by its long-standing history and experience and expertise in the market. Their expertise in the ship financing area is unparalleled, as they certainly have been the market pioneer with the highest standard and most reliable service.’
‘Thanks to Kim & Chang’s negotiation skills, we made the deal closing smoothly within the deadline. They always make an effort to provide the clients with the best service even long after the deal closing. And as the leading firm in ship financing market in Korea, the quality of their service is much worthier than their legal fees.’
‘Mr. Hi-sun Yoo, who is, undoubtedly, one of the top class lawyers in ship financing sector in Korea is the main contact for me. He has a lot of experience, not only on the overall of the ship financing, but in marine casualties.’
‘Unrivalled skills and experience and shipping and port finance across several jurisdictions. As they have overseas networks including foreign law firms, they could provide various options regarding financing issues to the clients.’
‘Hi Sun Yoon is a stand-out partner. He has extensive experience in banking and finance and has a broad network. He is recognized as a leading lawyer in the market and provides comprehensive opinions with practical solutions to clients. He is friendly and easy to contact and respond quickly to queries.’
‘All individuals from Kim & Chang whom I have worked with have high standard of responsibility. Their documentation is conducted prudently and the output is satisfactory. Also their legal advice is of high quality which I could comfortably rely on for any type of ship financing projects.’
Key clients
Hahn & Company
MBK Partners
Samsung C&T Corporation
GS Energy Co., Ltd.
Woori Bank
Korea Trade Insurance Corporation (“K-sure”)
The Export-Import Bank of Korea (“KEXIM”)
H-Line Shipping Co., Ltd.
The Korea Development Bank (“KDB”)
Work highlights
- Advised lender, Samsung Asset Management, on review of investment-related matters based on Korean law, review of due diligence materials, and confirmation, negotiation and review of issues related to the project documents and finance documents.
- Borrower’s counsel to Centroid PE in the overall financing, equivalent to US $1 billion from certain Korean financial institutions, in order to finance the acquisition of 100% interest in Taylor Made Golf.
- Acted for foreign aircraft owners and lessors in (i) negotiating the voluntary return of leased aircraft, (ii) assisting with the termination of aircraft leases, the repossession of the leased aircraft and the deregistration of the aircraft from the Korean civil aircraft registry, and (iii) participating in the rehabilitation proceedings of a low-cost carrier in Korea.
South Korea > Capital markets: local firms Tier 1
Housing one of Korea’s largest groups of capital markets specialists, Kim & Chang is renowned for its work in market-leading IPO’s, debt capital markets, noted domestic and cross-border debt issuances and asset-backed securities. Kye-Sung Chung chairs the practice, which includes Yong-Ho Kim and Tae Min Yun, who are experts in asset securitization, ABCP conduit program and credit derivatives. Myoung Jae Chung is a well known figure in the equity and debt space, while Chang Hyeon Ko routinely acts for Korean issuers. Ie Hwan Yoo ‘s practice centers around securities and bank regulations and securities-related litigations.Practice head(s):
Kye Sung Chung
Other key lawyers:
Yong-Ho Kim; Myoung Jae Chung; Tae Min Yun; Ie Hwan Yoo
Testimonials
‘Kim &Chang’s team has vast experience in the Korean capital markets. In securitisation, the firm’s strength is backed by highly qualified professionals with market and industry knowledge. The team provide invaluable advice and support with unparalleled experience in the Korean securitization market and its access to regulators.’
Key clients
J.P. Morgan Securities (Far East) Limited.
Citigroup Global Markets Korea Securities Limited
Morgan Stanley
Goldman Sachs
BNP Paribas
Credit Suisse
Work highlights
- Acted as counsel for LG Energy Solution in its IPO to list its shares on the Korea Exchange’s KOSPI Market.
- Advised Krafton, which developed and published the renowned global online game “Player Unknown Battleground (PUBG)” in connection with the public listing of Krafton’s shares on the Korea Exchange.
- Korean legal counsel for the underwriters, Merrill Lynch International, Citigroup Global Markets, Crédit Agricole Corporate and Investment Bank, in the issuance of foreign exchange stabilization bonds by the government of the Republic of Korea.
South Korea > Corporate and M&A: local firms Tier 1
Described as ‘undeniably the best law firm in Korea‘ the Kim & Chang practice is led by the highly esteemed senior partner, Kyung Taek Jung who holds over 40 years experience advising on corporate aspects of domestic and cross-border landmark M&A transactions, restructurings, private equity and joint venture transactions. Jong-Koo Park , Jong Hyun Park , Young Man Huh and Young Jay Ro
maintain their reputation as top-tier corporate and private equity transactional lawyers.Practice head(s):
Kyung-Taek Jung
Other key lawyers:
Jong Koo Park; Young Jay Ro; Young Man Huh; Jong Hyun Park
Testimonials
‘Kim & Chang is undeniably the best law firm in Korea. As the private equity house, Kim & Chang’s service is very valuable as it always offers very informative and decisive advices whenever we need to decide in every process including investments, portfolio managements and exits.’
‘K&C is well equipped to address all the clients’ requests. Based on experience of completing multiple transactions, expertise in all relevant practice areas, and high understanding of clients’ needs with a thoughtful attitude, K&C’s practice is one of the best and significantly contributed to the successful closing of many deals.’
‘K&C’s long history in the Korean market and experience executing M&A transactions gives us more reassurance and confidence comparing with other peer law firms. They provide very good, detailed and client-driven solutions.’
Key clients
SK Hynix Inc.
Korean Air Lines Co., Ltd.
eBay lnc.
MBK Partners
Kohlberg Kravis Roberts & Co. L.P.
Yanolja Co., Ltd.
IMM (IMM Private Equity, Inc, IMM Credit Solutions Inc., IMM Investment Corp.)
Starbucks Coffee International, Inc.
HYBE Co., Ltd. (formerly named Big Hit Entertainment Co., Ltd.)
Work highlights
- Advised on SK HYNIX INC.’s acquisition of Intel’s NAND SSD business, NAND component and wafer business and the Dalian NAND memory manufacturing facility in China.
- Advised eBay Inc. on a KRW 3.5 trillion sale of 80.01% equity interest in eBay Korea LLC to an SPC formed by E-mart Inc.
- Advised on Hyundai Motor Group’s acquisition of Boston Dynamics.
South Korea > Dispute resolution: local firms Tier 1
Kim & Chang houses a deep bench of experts including former judges, those with in-house experience and subject matter specialists in securities litigation, white-collar crime and regulatory investigations, commercial litigation, insurance matters and competition law. Former judges Chang Hoon Baek and Hye Kwang Lee both have an extensive track record in M&A litigation, criminal defense work, insolvency and restructuring, trade secret and banking disputes. Jin Yeong Chung a notable name in the firm for cross-border disputes, aAlso noted are head of banking litigation, Sun Seong Park and arbitration specialist Chul-Won Lee who is experienced in shipping, product liability and insurance and is also qualified as an English solicitor.Practice head(s):
Jin Yeong Chung
Other key lawyers:
Chang Hoon Baek; Sun Seong Park; Chul-Won Lee
Testimonials
‘Kim & Chang offers excellent legal advice with a high performing team, providing perfect English language capabilities. Able to assemble a flexible, hard-working and well coordinated team.’
‘Jin-Yeong Chung is the responsible partner, perfectly leading the team in complex multi-jurisdictional litigation cases.’
Key clients
Volkswagen AG
Goldman Sachs
Morgan Stanley
JP Morgan
The Boeing Company
Bank of America Merrill Lynch
Korean Air
Hyundai Motor Company
Hankook & Company including Hankook Tire & Technology
Work highlights
- Represented a global bank in its successful appeal before the Seoul High Court seeking annulment of a corrective order imposed by the KFTC for allegedly engaging in bid-rigging regarding cross-currency swap contracts.
- Represented Samsung Asset Management in a large-scale collective action for damages brought by approximately 2,000 investors, and also a case of first impression in Korea raising the issue of the proper scope of an asset management company’s discretion in managing a passive fund.
South Korea > Insurance: local firms Tier 1
Kim & Chang represents a variety of insurance, reinsurance and brokerage companies in Korea. Jay Ahn’s practice spans insurance transactions and regulatory matters and contentious insurance law. He is assisted by Jae Ho Baek and Hyun Wook Shin , who also assist on the establishment of insurance subsidiaries, privacy and with ongoing regulatory compliance issues. Joon Young Kim is the key contact for fintech and e-business industry clients.Practice head(s):
Jay Ahn
Other key lawyers:
Jae Ho Baek; Hyun Wook Shin; Joon Young Kim
Key clients
Samsung Life Insurance Co., Ltd.
Samsung Fire & Marine Insurance Co., Ltd.
AIA Life Insurance Co. Ltd.
LINA Life Insurance Company of Korea
ACE American Fire Marine Insurance Co., Ltd. Korea Branch
Hyundai Marine and Fire Insurance Co., Ltd.
Korean Reinsurance Company
Prudential Life Insurance Company of Korea Ltd.
ABL Life Insurance Co., Ltd., (formerly Allianz Life Insurance Co., Ltd.)
AIG (American International Group) Korea Inc.
Factory Mutual Global (FM Global)
KakaoPay Insurance Corp
KB Life Insurance Co., Ltd.
Work highlights
- Advised Cigna Corporation on its sale of LINA Korea to Chubb Limited.
- Advised FM Global on the establishment and licensing of a non-life insurance branch in Korea.
- Advised KakaoPay on a digital insurance company’s IT security matters.
South Korea > Intellectual property: local firms Tier 1
Kim & Chang continues to rapidly expand its market-leading IP practice, with the addition of numerous patent attorneys from KIPO, Korean firms and specialist practices and foreign IP specialists, to bolster its full-service offering in patents, trade marks, copyright and designs and transactional IP. Won Kim has ‘very deep and extensive knowledge‘ in trademarks, copyright in the IT, entertainment and game industries, while Sean (Seung-Hun) Lee has developed a specialism in patents in telecoms systems, wireless communications and computer networks, and Chul Hwan Jung in mechanical patents. In the pharmaceutical space, patent attorneys In Hwan Kim and Young Kim continue to represent Pfizer in enforcement and defense actions. Seok Hee Lee and Minjung Park are among the firms’ top IP trademark litigators. Jay (Young-June) Yang is another notable name in the team.Practice head(s):
Jay (Young-June) Yang
Other key lawyers:
Won Kim; Sean (Seunghun) Lee; Chul Hwang Jung; In Hwang Kim; Young Kim; Seok Hee Lee; Minjung Park
Testimonials
‘In-Hwan Kim is very service-minded and knowledgeable. Walks the extra mile to understand the needs of the client.’
‘The strength of Kim & Chang is that it can build up a team of the best experts that fit your case. Kim & Chang has the most experienced legal experts backed by a big pool of talented patent attorneys who provide in-depth technical understanding.’
‘Jay Yang is the most experienced IP practitioner in South Korea. He has various experience in multi-national litigation cases and can provide helpful advice based on his experience in diverse IP related cases. All this extensive experience makes him unique so that he can point out the decisive aspects of highly complex issues.’
‘Kim & Chang’s IP team has the right people and the resources in place to get the job done, and their service is top-notch. The team comprises outstanding legal/IP professionals that possess the highest degree of professionalism, knowledge of the law, and understanding of the different business environments as well as a wide-range of technology areas. They are completely devoted to their work and are adept at handling complex and sensitive situations as they arise.’
‘Chul-Hwan Jung is a person you can always go to speak about the new ventures of technology. I believe his strength comes from his eagerness to find innovative ideas along with his conservative and strict standard of IP review process. He is not a passive IP reviewer or legal adviser, but a reliable partner to seek a new way of innovation not only about technology but also about new business opportunities with technology.’
‘The IP lawyers at Kim & Chang combine strong legal expertise with an understanding of business objectives. They understand our objectives and help to implement them with strong IP in Korea.’
‘When it comes to ‘K&C IP team’, it is impossible to compare this team with the other law firms. This team is the best professional team in South Korea, in all indicators such as the number of experts, the scope of advisory fields, the depth of experience and competence, and the winning percentage in dispute cases. I personally had such amazing experience with this team over the past 20 years, and I believe that K&C IP team will maintain their position in the future.’
‘Won Kim has very deep and extensive legal knowledge and experience, even beyond the IP sector. He has an exceptional communication skill and receives praise and appreciation from everyone related to the matter.’
Key clients
Apple Inc.
BASF
Intel Corporation
Canon Inc.
Robert Bosch GmbH
L’oreal
Autostore Technology
Samsung Display
Tencent
CJ CheilJedang
Work highlights
- Prevailed in a significant Patent Court decision which confirmed that a generic’s prodrug ester of AstraZeneca’s Forxiga product was within the scope of equivalents of the Forxiga compound patent, despite the fact that “prodrug ester” had been deleted from the patent claims during prosecution.
- Successfully represented Novartis in an invalidation action against a patent for a sustained release formulation containing octreotide.
- Successfully represented the KBO League teams in a litigation involving the modification of certain K-Pop songs which were used as chant songs allegedly in violation of the authors’ rights to maintain integrity.
South Korea > International arbitration Tier 1
Boasting a ‘deep bench of international arbitration specialists’ Kim & Chang draws support from its offices in Singapore, Hong Kong and Vietnam to advise Korean and international clients on high-end disputes involving M&A transactions, financial institutions, as well as those arising in the construction, energy and maritime sectors. Leading the practice, Byung-Chol Yoon remains an esteemed figure in construction and energy arbitration. Construction and infrastructure specialists foreign attorney, Matthew Christensen, Sae Youn Kim, Byung-Woo Im and Dong-Seok (Johan) Oh are also noted. Woochul Hwang and Shul Park are active in insurance, joint venture and shareholder disputes. Former practice co-chair Eun Young Park departed in July 2022 to establish his own independent practice, Park Arbitration Chambers.Practice head(s):
Byung-Chol (B.C.) Yoon
Other key lawyers:
Sae Youn Kim; Dong-Seok (Johan) Oh; Byung-Woo Im; Matthew Christensen; Shul Park; Woochul Hwang
Testimonials
‘The Kim & Chang team is exceptional in being hard working, talented and knowledgeable about the law in relation to arbitration, while focussed on meeting clients’ commercial objectives.’
‘Its diverse background and manpower cannot be compared to any other firms in Korea. They always strive to identify the client’s commercial coals and surpass the client’s expectations. They are very fluent even in business language and every industry and sector.’
‘Kim & Chang’s practice has a very talented and deep roster of attorneys from the associate through partner level. They are extremely well-prepared on matters and understand the issues in great detail, so are prepared to successfully argue as well as defend to their utmost ability.’
‘One of the top full service firms in Seoul. Deep bench of international arbitration specialists.’
‘Matt Christensen – highly respected for construction disputes. Sae Youn Kim – a big name in Korea.’
‘The team is experience in handling arbitration related matters and are very familiar with the process and timelines. At the same time, the firm has a reputable litigation practice that is able to assist with court-related matters in addition to arbitration, which is very useful.’
‘Shul Park is always very responsive and provides timely advice that is commercial and addresses the issues on hand.’
‘Probably the biggest international arbitration practice in Korea today. The strength and depth of its arbitration team are among the strongest in the region.’
Key clients
Schindler Holding AG
Affinity Equity Partners
Standard Chartered Private Equity (Affirma Capital)
Baring Private Equity Asia
GIC Special Investments Private Limited
IMM Private Equity, Inc.
Mitsubishi Power
Lone Star
POSCO Energy
Samsung Heavy Industries
Wemade Entertainment
LG Chemical
Work highlights
- Represented Posco Energy in an ICC arbitration against an American company regarding the transfer of technology for the production and operation of a fuel cell power plants with a combined value of claims and counterclaims in excess of US$1bn.
- Representing Schindler Holding AG, a foreign investor, in an investment treaty arbitration filed against the Republic of Korea, under its treaty with the EFTA countries, with a claim amount of approximately US$ 300m concerning its equity investment in Hyundai Elevator.
- Represented a biotechnology division of a large Korean conglomerate group in a high-stakes ICC arbitration initiated by its joint venture partner, a US-based multinational biotechnology company. Following the conclusion of a share purchase deal involving the joint venture company, which became one of the largest M&A transactions in Korea in 2022, the parties were able to successfully settle the dispute.
South Korea > Labour and employment: local firms Tier 1
Handling the full range of labour law issues, Kim & Chang‘s advisory practice is particularly sought after for its expertise in post-merger integration and compensation and benefits design. Weon Jung Kim and Chun Wook Hyun co-head the practice, advising on employment implications of cross-border transactions, restructuring, collective bargaining and discrimination disputes. Wan Joo , Ki Young Kim and Hyun Jae Park are the other key partners. Senior associate Do-Yoon Kim focuses on contentious issues, assisting in wage cases, compliance audits and industrial actions.Practice head(s):
Chun Wook Hyun; Weon Jung Kim
Other key lawyers:
Wan Joo; Ki Young Kim; Hyun Jae Park; Do-Yoon Kim
Testimonials
‘K&C’s employment law team is very knowledgeable and practical in their advice and guidance to my company’s team. They are responsive and willing to work with me to come up with a solution that works for my business and constraints on legal budgets.’
‘Comprehensive advice, not just subject matter expertise but practical advice with understanding of the client’s business and circumstances’
‘Hyunjae Park – ability to break down difficult issues and thinks from the perspective of the client’
‘K&C has a strong presence in various areas which makes them a perfect firm to provide comprehensive advice on complex cases that need collaboration among different teams such as employment, compliance, corporate etc.’
‘Kim & Chang, the biggest law firm in Korea. The way of they work is effective and efficient, with good communication throughout and always produce a high quality result.’
‘In my opinion, K&C is the No 1 law firm in Korea in the HR field. Their strength is in consulting field as well as litigation.’
‘Kim Weonjung offers very precise and comprehensive consulting service, providing possible alternatives with pros. & cons analysis, and gives honest feedback. Whenever I ask for his legal opinion, I can see his full engagement, so I’m very comfortable to work with him.’
‘The team has profound knowledge and experience both in regulations and practices. In particular, they have lots of experience of dealing with industrial unions and recruitment of management level people. No other legal team in Korea can compete.’
Key clients
Hyundai Motor Company
POSCO
Hyundai Heavy Industries Co. Ltd.
Citibank
Hana Bank
Oracle Corporation
Pfizer Inc.
SK Hynix
Asiana Airlines
eBay Inc.
Work highlights
- Successfully represented an American car manufacturer in a case where the contractual clauses in the existing collective bargaining agreement executed by the former entity is still applicable to the new company after a spin-off was at issue.
- Advised regarding issues related to Citibank Korea’s Consumer Finance business wind-down and voluntary resignation programme implementation.
- Assisted eBay in successfully concluding the sale of eBay Korea to the Shinsegae Group (Emart) by providing legal and strategic advice with respect to employment issues.
South Korea > Projects and energy: local firms Tier 1
Kim & Chang is renowned for its ‘market-leading experience across the energy sector’ and its client list of private sector sponsors, lenders, investors, state-owned entities and construction firms. Leading figure Young Kyun Cho continues to support Pacifico Energy in its large-scale development of a solar power farm. Chang-hee Shin also specialises in project finance, and often represents Korean contractors working overseas. Banking partners Claire (Mi-Jin) Kim and foreign attorney Bong-Sang Cho are the other key figures in the firms’ standout cross-border finance transactions and energy and infrastructure projects.Practice head(s):
Yon-Kyun Oh; Ick-Ryol Huh
Other key lawyers:
Young-Kyun Cho; Changhee Shin; Claire (Mi-Jin) Kim; Bong-Sang Cho
Testimonials
‘Kim & Chang have market-leading experience across the energy sector. Also, their collaboration with foreign firm is one of their strengths in advising the clients.’
‘Kim & Chang team was both extremely knowledgeable about the Project Financing and great at helping me approach the transaction with more confidence and comfort.’
‘Their knowledge of the sector and approach to legal issues helped me overcome my anxieties and improve my ability significantly.’
Key clients
POSCO Energy / POSCO
Hyundai Oilbank
KEXIM (Korea Export-Import Bank)
S-Oil Corporation
KOGAS (Korea Gas Corporation)
Hanwha Energy
KDB (Korea Development Bank)
KHNP (Korea Hydro & Nuclear Power Corporation)
KEPCO (Korea Electric Power Corporation)
Copenhagen Infrastructure Partners
Work highlights
- Advised Kohlberg Kravis Roberts’ acquisition of equity interests in SK E&S.
- Advised KEXIM and Ksure on RV555 road projects in Norway.
- Advised Hanwha Energy Corporation on the proposed restructure of its investments in the Gregadoo and Jindera solar farm projects in Australia and the subsequent investment in Hanwha Energy Australia by a Korean asset management fund.
South Korea > Real estate: local firms Tier 1
Kim & Chang maintains its prominent market position in precedent setting domestic and outbound real estate transactions, REITs and development projects. Yon Kyun Oh and Keun Ah Cho are the practices’ top advisors for acquisitions and sales of real estate assets, project financing and transactions involving investment vehicles. Jin Ho Song and Sang Min Lee act on behalf of foreign and institutional investors on domestic commercial real estate transactions, and investment plans through REITs, funds and other structures.Practice head(s):
Yon Kyun Oh
Other key lawyers:
Keun Ah Cho; Jin Ho Song; Sang Min Lee
Testimonials
‘K&C team has more extensive knowledges and experiences than other firm, and always make the best efforts to provide the best legal advices in order for us to execute our business decision given legal/regulatory restrictions.’
‘Sangmin Lee is the best lawyer that I have ever worked with in terms of work quality, efficiency, responsiveness and time efficiency.’
Key clients
GIC
Angelo, Gordon & Co.
DWS Group
KKR & Co.
Goldman Sachs
The Blackstone Group
Mirae Asset Financial Group
M&G Real Estate
Brookfield Asset Management
Samsung SRA Asset Management Co.
Work highlights
- Represented the buyer and its local fund manager, IGIS Asset Management Co on the acquisition of the hotel at KRW 1.1 trillion for multi-use development.
- Assisted the seller, E-Mart in its sale and lease back of E-Mart’s Gayang store with the purchase price of KRW 682 billion.
- Advised on GIC’s acquisition of a parcel of land located in Incheon-si, Gyeonggi-do, Korea, and the logistics facilities constructed on it, through a real estate fund established through GIC’s investment.
South Korea > Regulatory: compliance and investigations: local firms Tier 1
Kim & Chang continues to lead the way with one of the largest compliance and white-collar defence practices in the market. Kook Hyun Yoo continues to be one of Korea’s most respected criminal defence lawyers, with colleague, Myungsuk Sean Choi highly sought after for corporate investigations, often representing multinational companies. Sung Won Hong specialises in employment-related cases and health and safety cases. Former prosecutor, Ho Keun Ryu is a white-collar criminal defense expert on charges relating to embezzlement and corruption. Senior associate Miji Song also assists with internal investigations, criminal defense matters and compliance projects.Practice head(s):
Kook Hyun Yoo
Other key lawyers:
Testimonials
‘Kim & Chang is the pre-eminent legal practice. It has the largest resources and manpower across various departments, and excellent lawyers are highly experienced and well-connected across all fields. In terms of professional quality, it is the best law firm in Korea. Its compliance and investigations practice leads the way in Korea, it was the first on the market and continues to deliver excellent results.’
‘Kim & Chang’s compliance team led by Seung Ho Lee are highly skilled and knowledgeable, not only on the facts but also the actions of regulators and other such parties. They provided very good solutions based on their abundant case experience. The practice accurately understands what the client needs under the circumstances, and effectively mobilizes the firm’s resources and delivers timely support. ’
Key clients
Audi Volkswagen Korea, Ltd.
Work highlights
- Defense in criminal investigation and subsequent litigation of Audi Volkswagen Korea in relation to diesel vehicles.
South Korea > Shipping: local firms Tier 1
Recognised among Korea’s leading practices in this space, Kim & Chang has a broad range of capabilities across the full spectrum of shipping and maritime law. The practice acts for an impressive list of high-profile shipbuilders, P&I clubs and insurance companies. ‘Impressively commercial‘ Byung-Suk Chungis a leading authority on shipping, shipbuilding, insurance, international trade and related international arbitration., as is the ‘exceptionally skilful partner’, Chul-Won Lee . Joon Hwan Park advises on shipbuilding, offshore construction disputes and dry shipping cases as well as maritime casualties. Senior associates Na-Rae Kim and Sang-Hyup Lee are also noted.Practice head(s):
Byung-Suk Chung
Other key lawyers:
Chul-Won Lee; Joon Hwan Park; Na-Rae Kim; Sang-Hyup Lee
Testimonials
‘Excellent international reach’
‘The in-depth knowledge and hands-on experience of their practice’s senior members combined with the diverse work force and broad-based access to other specialized expertise of Kim & Chang makes them a leader in the sector.
‘Their shipping team are true market leaders. We are continually impressed by their sector knowledge combined with quick turnarounds on demanding matters.’
‘The sizeable team is led by Byung-Suk Chung, who has worked for shipowners and its insurers for almost 45 years. He inspires confidence and we feel most comfortable working with him, because he is not only excellent in maritime law (highly experienced in shipping and trade disputes), he is also impressively commercial. His advice is always clear, sensible and strategic.’
‘Sang-Hyup Lee is a rising star in maritime section, and he shows great enthusiasm in the performance of providing legal opinion with high quality.’
‘The Kim & Chang team is exceptional in being hard working, talented and knowledgeable about the law in relation to shipping, while focussed on meeting clients’ commercial objectives.’
‘Chul-Won Lee is an exceptionally skilful partner, combining a consistent sense of strategy with a tactical skill in determining how to achieve clients’ outcomes, whether in court, arbitration or both.’
‘Narae Kim has an unsurpassable understanding of the technical details relevant to any claim. She could probably visit and identify each space in a vessel and its contents while walking blindfolded.’
Key clients
North of England P&I
K Line
Samsung Heavy Industries Co.,Ltd
Daewoo Shipbuilding & Marine Engineering
Korean Reinsurance Company
KB Insurance Co., Ltd
Maersk
Korea P&I Club
Korea Shipping Association
Korea Shipowners’ Association
Pan Ocean Co., Ltd.
Korea Line Corporation
West of England P&I Club
HYUNDAI LNG SHIPPING CO., LTD.
Panasia
Work highlights
- Represented Panasia, the third largest supplier of the Ballast Water Tank System in the world, in judicial review proceedings against the Korean government in connection with the cancellation of an administrative approval regarding the Ballast Water Treatment System.
- Advising and representing 13 Korean container shipping companies affected by the Korean government’s (the Ministry of Land, Infrastructure and Transport) administrative rules and regulations. This case concerns the container handling charges in the Busan Port based on the fixed unit rates introduced by the Korean government, being higher than the market rates.
- Representing four domestic LNG carriers in respect of a monetary claim involving freight for the FBOG fuel use against shippers. This matter involves unexpected change of regulatory scheme affecting the freight calculation formula in the voyage charter and required creative approach to resolve the issue.
South Korea > Tax: local firms Tier 1
Kim & Chang ‘has the bench strength and expertise’ to advise on a wealth of tax issues, ranging from tax on corporate transactions, transfer pricing and application for tax exemptions. Its leading tax audits and litigation team, led by Byung-Moon Jung is also highly regarded. Chartered CPA and senior partners Woo Hyun Baik and Tae Yeon Nam specialise in corporate tax planning and transfer pricing. Jeong-il Park is noted for his expertise in finance and insurance tax. Litigators Sang Woo Lee and Hae Ma Joong Kim continue to be active in cutting-edge taxation issues in Korea.Practice head(s):
Woo Hyun Baik; Byung-Moon Jung
Other key lawyers:
Tae-Yeon Nam; Sang Woo Lee; Hae Ma Joong Kim; Jeong-il Park
Testimonials
‘Kim & Chang has the bench strength and expertise to meet the client’s high expectations. They have a good global network and co-operate well.’
‘Outstanding professional knowledge, particular those applying the financial services industry, and the relevant tax aspects.
‘Jeong-Il Park has the top level of tax knowledge and experience to achieve a successful result for the client.’
‘Jeong-Il Park has been working with us more than 10 year. He has in-depth understanding of client’s needs and issues. His approach to solve issue is reasonable and always brings successful result.’
‘Hae Ma Joong Kim is our go-to counsel for tax audit and litigation, and general tax consulting. He has over 16 years of tax experience and is very diligent and competent.’
Key clients
Goldman Sachs
LG Electronics Inc.
Citibank
CJ
Morgan Stanley
Hyundai Motor Company
Samsung Electronics Co., Ltd.
Oracle Korea
SK Hynix
National Oilwell Varco
Work highlights
- Represented an individual taxpayer in a landmark Supreme Court decision based on an assessment of income tax, on the application of a tie-breaker rule under a tax treaty.
- Acted for CJ ENM, Co., Ltd. in VAT litigation on sales discount.
- Represented a corporate client in tax litigation seeking a cancellation of tax imposed on a company for sales incentive payments treated as non-deductible entertainment expense.
South Korea > TMT: local firms Tier 1
Including ‘highly experienced partners, experienced senior associates, and passionate associates’, many of whom coming from a background in patents, engineering and in-house experience at telecom giants, Kim & Chang maintains its stellar reputation in the TMT market. Practice head Dong Shik Choi is an expert in M&A transactions, licensing, regulatory and compliance matters. Hyun Ho Eun is also involved in many of the practices’ high-end transactions in entertainment, game, sports, hotel, telecoms, and technology. Min Chul Park and Seong-Hyeon Bang assist telecoms, broadcasting and technology companies on structuring and launching their services to be compliant with Korea’s complicated regulatory framework.Practice head(s):
Dong Shik Choi
Other key lawyers:
Hyun Ho Eun; Min Chul Park; Seong-Hyeon Bang
Testimonials
‘K&C has showed great performance with expertise and strength in TMT practice, especially catered for our needs and necessities.’
‘Min-chul Park is an outstanding attorney and is a leader in the Korean TMT sector. His knowledge, passion and ability to provide creative solutions is excellent.’
‘Good team that covers a variety of areas and issues. Reasonable cost. Good understanding of industry and technology.’
‘Seong-Hyeon Bang has good understanding of client’s service practice and always give good feedback to client’s needs. He always provides timely feedback and update.’
‘The TMT sector in Korea is rapidly changing, and service providers have to adapt and remain compliant with various new regulatory introductions every year. K&C, with its professional lawyers and other specialists, has great insights in TMT business and remains one step ahead of the local and global regulations in this area.’
‘The team consists of well-balanced members: highly experienced partners, experienced senior associates, and passionate associates. With these well-balanced members, they provide incomparable services and advice with competitive fees.’
Key clients
Yanolja Co., Ltd.
HYBE Co., Ltd.
Krafton Inc.
Affinity Equity Partners
KT Skylife
Bithumb
Korbit
LG Uplus
SK Telecom
Work highlights
- Represented YANOLJA CO., LTD. in its issuance of new shares and sale of shares by existing shareholders amounting to 24.75% shareholding to SVF II CRYSTAL SUBCO (SINGAPORE) PTE. LTD.
- Advised on HYBE’s acquisition of Ithaca Holdings.
- Advised Krafton’s acquisition of Unknown Worlds Entertainment, Inc.
South Korea > Fintech and financial services regulatory Tier 1
Kim & Chang is a top-tier choice for IT-related technical and financial regulations. Its fintech advisory team remains among the most sought after in the market, from advising on introduction of Korea’s new internet-only banks from the preliminary licensing stage, to assisting on regulations applicable to token sellers, cryptocurrency exchanges, ventures, hedge and private equity funds. Senior partner Kye-Sung Chung works alongside a sizeable group of colleagues in its esteemed banking department.Practice head(s):
Kye Sung Chung
Testimonials
‘They have a deep and broad understanding of the Fintech field. In addition, they fully understand business needs and offer appropriate solutions.’
‘Kim & Chang is best well known legal counsel in Korea, and they provide good service to all clients, especially to all foreign financial companies. They have accumulated in-depth knowledge for every case and have known what to do with Korean regulators.’
Key clients
Viva Republica Inc.
Kakao Group
GroundX Corp.
Binance
Microsoft Corporation
KB Financial Group
Woori Financial Group
Shinhan Financial Group
NH Financial Group
Korea Development Bank
Bank of America N.A., Seoul Branch
Mizuho Bank, Ltd. Seoul Branch
Work highlights
- Advised Ground X, an affiliate of Kakao which focuses on blockchain industry, on launching an NFT trading platform.
- Obtaining Internet-only banking license for Toss Bank.
- Advised Korean Virtual Asset Exchanges (Bithumb, Coinone, Korbit) on acquiring Virtual Asset service licenses.
Asia Pacific: Regional International Arbitration > Leading firms Tier 3
Kim & Chang continues to be South Korea's domestic firm for international arbitration, giving it a presence in the global market working with Korean businesses such as construction contractors. Byung-Chol Yoon heads the practice, with Sae Youn Kim, Byung-Woo Im , Dong Seok Oh and US-qualified Matthew Christensen all key practitioners based in Seoul.Work highlights
Kim & Chang > Firm Profile
Established in 1973, Kim & Chang is Korea’s premier law firm with a market leading position in all practice areas including antitrust and competition; banking; capital markets; corporate governance; corporate investigations and white collar defense; discovery; energy; engineering and construction; environment; financial regulation and compliance; financing; fintech; game, resort and entertainment; insolvency and restructuring; insurance; intellectual property; international arbitration and cross-border litigation; international trade and customs; labor and employment; life sciences and healthcare; litigation; maritime; mergers and acquisitions; metaverse, blockchain & digital assets; privacy and data security; private equity; real estate; securities; serious accidents punishment act; tax; and technology, media and telecommunications.
Our strong foundation is built on the breadth and depth of our talent. Our professionals include lawyers, tax lawyers, patent and trademark attorneys, accountants, and other subject matter and industry experts totaling more than 1,800 professionals today. Our teams work seamlessly in close coordination with each other with the highest commitment to creating innovative solutions to the legal and business challenges that our clients face.
Based in Seoul, with offices in Hong Kong, Ho Chi Minh City, Hanoi and Singapore, we are particularly known for our cross-border expertise. We have advised on some of the largest, most complex and demanding transactions and legal challenges in Korea and around the world. We have built a track record of first-of-their-kind, groundbreaking solutions that have had a profound impact on the law and business. Our attorneys are licensed in multiple jurisdictions, including Australia, Canada, China, England and Wales, France, Germany, Greece, Hong Kong, India, the Netherlands, New Zealand, the US and Vietnam in addition to Korea. With our growing regional networks and collaborative relationships with reputable law firms across Asia and around the globe, our clients with multi-jurisdictional interests have come to rely on us as a “one-stop shop” of the highest quality.
Main areas of practice
- Antitrust and competition
- Banking
- Capital markets
- Corporate governance
- Corporate investigations and white-collar defense
- Discovery
- Energy
- Environment
- Financing
- FinTech
- Game, resort and entertainment
- Insolvency and restructuring
- Insurance
- Intellectual property
- International arbitration and cross-border litigation
- Insolvency and restructuring
- International trade and customs
- Labor and employment
- Life sciences and healthcare
- Litigation
- Mergers and acquisitions
- Privacy and data security
- Private equity
- Real estate
- Shipping
- Tax
- Technology, media and telecommunications
Lawyer Profiles
Staff Figures
Number of professionals : 1,800+Languages
Korean English German Greek French Dutch Chinese Japanese Kannada Vietnamese Russian SpanishPress Releases
Winner of “South Korea National Law Firm of the Year” – Chambers Asia-Pacific & Greater China Region Awards 2022
20th July 2022 Kim & Chang won the title of “South Korea National Law Firm of the Year” at the Chambers Asia-Pacific & Greater China Region Awards 2022. This year is the third consecutive year since 2020 in which we have won this award.118 Professionals Selected as “National Leaders” – WWL: Korea 2022
20th July 2022 118 attorneys, patent attorneys, and certified public accountants across 23 fields from Kim & Chang were selected as “National Leaders” in their respective fields in the 2022 edition of WWL: Korea. We had the most listings out of all Korean law firms this year as well, demonstrating the expertise and extensive capabilities of our members.Recent Developments in Derivative Actions and Director’s Obligations and Liabilities
22nd June 2022 The public’s interest in minority shareholders’ rights has recently increased and the possibility of the National Pension Service’s (the “NPS”) taking derivative actions has garnered attention. Given this context, it is noteworthy that, in a recent derivative action case, the Supreme Court rendered a decision that broadly interprets directors’ obligations and responsibilities.Top Ranking in 18 Areas and 74 Individual Recognitions – Chambers Asia-Pacific 2022
17th June 2022 Kim & Chang ranked “Band 1” in 18 practice areas in Chambers Asia-Pacific 2022, once again receiving the most number of “Band 1” rankings among Korean law firms. With the guide also naming 74 of our attorneys, patent attorneys and certified public accountants, the highest number of any Korea law firm, as “Leading Individuals,” we demonstrated our market-leading capabilities across a wide range of fields.“Tier 1” in All 15 Practice Areas – The Legal 500 Asia Pacific 2022
17th June 2022 In the 2022 edition of The Legal 500 Asia Pacific, Kim & Chang was the only Korean law firm to be selected as “Tier 1” in all 15 areas surveyed for Korea this year. In addition, we maintained our “Tier 3” ranking in the Regional International Arbitration category, which was evaluated across the Asia-Pacific region.Winner of “Country and State Awards: Korea” for the Sixteenth Consecutive Year – Who’s Who Legal Awards 2021
17th June 2022 Kim & Chang won the “Country and State Awards: Korea” for the sixteenth consecutive year at the 2021 Who’s Who Legal Awards.[KIM & CHANG] Top-ranked in All 16 Practice Areas Surveyed – The Legal 500 Asia Pacific 2018
13th February 2018In the recently published The Legal 500 Asia Pacific 2018, one of the legal industry’s most prominent guides to the legal market in Asia, Kim & Chang was the only Korean law firm to be top-ranked ("Tier 1") in all 16 practice areas surveyed. Particularly noteworthy is the fact that our IP group was the only Tier 1-ranked practice to be recognized in the “Intellectual property – Patents and Trademarks” category.
[KIM & CHANG] Making and Donating Kimchi to the Community
13th February 2018On November 18, 2017, more than 40 Kim & Chang attorneys and K&C Friends (staff volunteers) of Kim & Chang Committee for Social Contribution volunteered in gimjang, a Korean tradition of preparing large quantities of kimchi for the winter. Volunteers gathered early in the morning to learn how to do gimjang, and helped to make kimchi. The kimchi prepared through this event was donated to 100 foster care families supported by the Central Foster Care Family Center .
[KIM & CHANG] Highest Rankings in All 18 Practice Areas – Asialaw Profiles 2018
13th February 2018Kim & Chang was the only Korean law firm to receive “Outstanding,” the highest possible ranking, across all 18 practice areas in the 22nd edition of Asialaw Profiles 2018, a definitive guide to Asia-Pacific’s leading regional and domestic law firms. Additionally, we were the only Korean firm to be awarded “Outstanding” in the Financial Services Regulatory and Intellectual Property practice areas.
[KIM & CHANG] Delivering Coal Briquettes to Low-income Families and the Elderly Living Alone in…
13th February 2018On December 9, 2017, Kim & Chang attorneys and K&C Friends (staff volunteers) of Kim & Chang Committee for Social Contribution together with youth members of Deulggot Youth World, an organization dedicated to caring for and educating children in need, delivered coal briquettes to a jjokbang town in Seoul’s Yeongdeungpo District. Jjokbang towns are low-income neighborhoods comprised of tenement housings with small rooms that barely accommodate one person.
The volunteers delivered the briquettes to low-income families, the elderly living alone, and others in the jjokbang town with hopes to give them a warmer winter.
[KIM & CHANG] Highest Number of Wins Among Korean Firms – Asian-MENA Counsel Firms of the Year 2017
13th February 2018In the recently published Representing Corporate Asia and Middle East Survey, an annual ranking survey published by Asian-MENA Counsel, Kim & Chang won "In-House Community Firm of the Year" in 14 categories.
[KIM & CHANG] Second Law Academy of 2017 at Gyeongsan Multicultural Family Support Center
13th February 2018On October 31, 2017, Kim & Chang Committee for Social Contribution hosted its second Multicultural Family Law Academy for 2017, a “mobile” legal service for multicultural families in Korea, in the City of Gyeongsan in Gyeongsangbuk-do Province. The first session was held in the City of Gimje in Jeollabuk-do Province earlier in 2017.
[KIM & CHANG] Korea’s Top Law Firm in the Asia-Pacific – The American Lawyer’s Asia 50 (2017)
7th February 2018According to the latest "Asia 50," an annual special feature published by The American Lawyer, Kim & Chang ranked 11th among the top 50 Asia-Pacific law firms.
[KIM & CHANG] Still Among Largest Asian Law Firms and Biggest in Korea – ALB Asia’s Top 50 (2017)
7th February 2018According to “Asia’s Top 50,” a feature story in the November issue of Asian Legal Business (ALB), Kim & Chang is the 12th largest Asian law firm, with the top 11 being China-based firms. Our firm continues to lead this chart among Korean firms, and once again, this is the highest ranking for a Korean firm.
[KIM & CHANG] “Korea Law Firm of the Year” for the 5th Consecutive Year – ALB Korea Law Awards 2017
7th February 2018Kim & Chang was once again named "Korea Law Firm of the Year" at the ALB Korean Law Awards 2017, a recognition we have won five consecutive times since these awards began in 2012. Our firm was also once again honored with the highest number of recognitions at this year's ceremony held on November 16 at the Grand Hyatt in Seoul.
[KIM & CHANG] Top Rankings Across All 19 Practice Areas Surveyed – Chambers Asia-Pacific 2018
7th February 2018In the 2018 edition of the prestigious legal guide, Chambers Asia-Pacific, Kim & Chang was the only law firm in Korea to receive top rankings (“Band 1”) across all 19 practice areas surveyed.
[KIM & CHANG] “Asia-Pacific Firm of the Year” – Asialaw Asia-Pacific Legal Practice Awards 2017
7th February 2018On November 28, 2017, Kim & Chang was recognized as the "Asia-Pacific Firm of the Year" in the inaugural Asialaw Asia-Pacific Legal Practice Awards.
[KIM & CHANG] Top Tier in All Six Areas Surveyed – IFLR 1000
6th December 2017Kim & Chang has consolidated its position as the leading law firm in Korea ranking “Tier 1” across all six practice areas in the 2018 edition of IFLR1000 Financial & Corporate. We are the only Korean firm to receive top tier rankings in all categories for 14 consecutive years.
In addition, IFLR named nine Kim & Chang attorneys as "Highly Regarded," two as "Market Leader," and one attorney as a "Rising Star." According to IFLR, our firm "dominates the market and is routinely involved in the best mandates available across all practice areas."
[KIM & CHANG] Only Korean Firm Among the World’s Top 100 Law Firms- The American Lawyer’s Global 1
6th December 2017For the fourth year in a row, Kim & Chang is the only ranked law firm in Korea among the world’s largest law firms in the American Lawyer's “The Global 100" report.
[KIM & CHANG] “South Korea Firm of the Year” for the Seventh Year – China Law & Pr
6th December 2017At the China Law & Practice Awards 2017, Kim & Chang won "South Korea Firm of the Year.” This is the seventh consecutive year that our firm’s China Practice has received such recognition. Further, we are the only Korean firm to be so named.
[KIM & CHANG] “National Law Firm of the Year” – Asialaw Asia-Pacific Dispute Resolution Awards 2017
6th December 2017On September 28, at the prestigious third annual Asialaw Asia-Pacific Dispute Resolution Awards 2017, Kim & Chang was named "National Law Firm of the Year - South Korea," along with top recognition in one other major category.
[KIM & CHANG] Who’s Who Legal Names Kim & Chang as “Korea Law Firm of the Year”
23rd August 2017On May 15, 2017, Who’s Who Legal awarded Kim & Chang “Country and State Awards 2017: Korea.” This is the twelfth consecutive year that the firm has received this recognition.
[KIM & CHANG] Who’s Who Legal Names Kim & Chang as the “Pro Bono Firm of the Year” in Global S
23rd August 2017Kim & Chang is pleased to announce that it was named as “Pro Bono Law Firm of the Year” by Who’s Who Legal for our firm’s steadfast commitment to pro bono work and for providing phenomenal services in 2016. Also, Kim & Chang is the only Asian law firm to be recognized as one of the top 10 leading law firms in the world for its pro bono services for four consecutive years.
[KIM & CHANG] Ranked 4th in the Acritas Asia Pacific Law Firm Brand Index 2017
23rd August 2017In the recently announced Acritas “Asia Pacific Law Firm Brand Index 2017,” Kim & Chang was again recognized as a top 5 law firm brand in the AP region. Our fourth ranking is the highest distinction earned by a local firm. The top 3 firms are global firms with regional offices worldwide.
[KIM & CHANG] “Best Asian Law Firm 2017: Gold Award” at International Legal Alliance Summit & Aw
23rd August 2017On June 15, 2017, at The International Legal Alliance Summit & Awards 2017, Kim & Chang received the Gold Award – the highest recognition – in the “Best Asian Law Firm 2017” category.
[KIM & CHANG] “South Korea Tax Firm of the Year” at the 2017 Asia Tax Awards
23rd August 2017On May 4, 2017, Kim & Chang was named “South Korea Tax Firm of the Year” and “Asia Tax Transactions Firm of the Year” at the 2017 Asia Tax Awards.
[KIM & CHANG] Winner of Asian-MENA Counsel Deals of the Year 2016
23rd August 2017"Hyundai Merchant Marine Restructuring," one of Kim & Chang's 2016 representations, was among the 38 “Winning Deals” chosen by Asian-MENA Counsel for its annual “Deals of the Year” awards.
[KIM & CHANG] “National Law Firm of the Year: Korea” at the IFLR Asia Awards 2017
9th May 2017For the 15th consecutive year, Kim & Chang was recognized as the “National Law Firm of the Year: Korea” at the IFLR Asia Awards 2017.
[KIM & CHANG] “Compliance/Investigations Firm of the Year” at the Asia Legal Awards 2017
9th May 2017For the second consecutive year, Kim & Chang was recognized as the "Compliance/Investigations Firm of the Year" at the Asia Legal Awards 2017. On February 22nd, “The Asian Lawyer” – an affiliate of ALM, a world-renowned legal media group – hosted the awards ceremony at Hong Kong’s Four Seasons Hotel, to honor Asia’s top lawyers, law firms, and in-house teams.
[KIM & CHANG] “Korea Firm of the Year 2016” in 19 Practice Areas Surveyed – Asian-MENA Counsel
9th May 2017Kim & Chang was named as “Korea Firm of the Year” in 19 practice areas in the 10th annual “Representing Corporate Asia & Middle East Survey,” which was conducted and announced by Asian-MENA Counsel magazine.
[KIM & CHANG] No. 1 M&A Advisor in Korea – Mergermarket M&A League Tables of Legal Advisors 2016
9th May 2017According to the “Mergermarket M&A League Tables of Legal Advisors 2016,” Kim & Chang ranks as the No. 1 M&A advisor in South Korea by deal value and count (USD 22.994 billion and 80 counts).
[KIM & CHANG] Top Rankings for All 7 Practice Categories in Chambers Global 2017
9th May 2017In the 2017 edition of Chambers Global – a global-wide leading law firm directory, published by Chambers & Partners – Kim & Chang received top rankings (“Band 1”) in all 7 practice areas surveyed.
[KIM & CHANG] No. 1 M&A Advisor in Korea – Bloomberg Asia Pacific Legal Advisory M&A Rankings 2016
9th May 2017Kim & Chang was ranked as the No. 1 M&A advisor in Korea - both by volume and deal count - with 110 deals worth USD 27.565 billion in the Bloomberg Asia-Pacific Legal Advisory M&A Rankings 2016.
[KIM & CHANG] Highest Ranking Among South Korean Law Firms in the Chambers Asia-Pacific 2017
9th May 2017Kim & Chang was top ranked (“Band 1”) in all 18 practice areas surveyed in the 2017 edition of Chambers Asia-Pacific, a leading law firm directory of Asia-Pacific region, published by Chambers & Partners.
[KIM & CHANG] Ranked 68th among the 100 largest law firms – The American Lawyer’s Global 100 (2016
3rd February 2017Kim & Chang has been named in the "Global 100," a special feature of The American Lawyer, a renowned US-based legal magazine, for three years in a row. Our firm was ranked among the Top 100 firms in each of the following charts: 68th on the "Most Lawyers (rank by number of lawyers)", 59th on the “Most Revenue (rank by gross revenue)”, 46th on the “Most Profits Per Partners (rank by profits per partners). Kim & Chang is the only Korean firm to be listed on these charts.
[KIM & CHANG] Korea Law Firm of the Year – China Law & Practice Awards 2016
3rd February 2017Kim & Chang was selected as “Korea Law Firm of the Year” at China Law & Practice Awards 2016, an event hosted by China Law & Practice, an affiliate of ALM, a world-renowned legal media group. Kim & Chang has been recognized as “Korea Law Firm of the Year” for sixth consecutive years.
[KIM & CHANG] Tier 1 in M&A in South Korea – ALB M&A Rankings 2016
3rd February 2017Kim & Chang was recognized as one of the leading M&A firms in South Korea, named as a Tier 1 firm in the ALB (Asian Legal Business) M&A Rankings 2016, a feature article in the September 2016 issue of ALB.
[KIM & CHANG] Leading Tax Advisory Firm – World Tax 2017
3rd February 2017Kim & Chang was selected as one of the leading (Tier 1) tax advisory firms in Korea by World Tax 2017.
[KIM & CHANG] Ranked 10th among the largest 50 law firms based in the Asia-Pacific region
3rd February 2017Ranked 10th among the largest 50 law firms based in the Asia-Pacific region - The American Lawyer’s Asia 50 (2016)
[KIM & CHANG] Tier 1 in all 15 practice areas – The Legal 500 Asia Pacific 2017
3rd February 2017Kim & Chang was named as “Tier 1” in all 15 practice areas surveyed, according to the Legal 500 Asia Pacific (2017 edition), a leading global law firm directory published by Legalease, a UK legal publisher.
[KIM & CHANG] Tier 1 in all practice areas – IFLR1000 Financial & Corporate 2017
3rd February 2017Kim & Chang was named as “Tier 1” in all five practice areas surveyed by IFLR1000 Financial & Corporate for the 13th consecutive year.
[KIM & CHANG] Outstanding in 17 practice areas – Asialaw Profiles 2017
3rd February 2017Kim & Chang was selected as “Outstanding” in 17 practice areas out of 18 areas surveyed and also selected as “Highly recommended” in one practice area, according to Asialaw Profiles 2017, a publication of Asialaw, affiliated with Euromoney.
[KIM & CHANG] National Law Firm of the Year – Asialaw Asia-Pacific Dispute Resolution Awards 2016
3rd February 2017Kim & Chang was selected as “National Law Firm of the Year - South Korea” at Asialaw Asia-Pacific Dispute Resolution Awards 2016, hosted by Asialaw, a legal media group, affiliated with Euromoney.
[KIM & CHANG] Best National Firm for Work-Life Balance – Euromoney Asia Women in Business Law Awards
3rd February 2017Kim & Chang was selected as the “Best National Firm for Work-Life Balance” at the Euromoney Asia Women in Business Law Awards 2016, hosted by Euromoney.
Legal Developments
User Protection and Regulation of Unfair Trade in the Digital Asset Industry
15th February 2023 The following bills, which are designed for user protection and fair trade in the digital asset industry, were proposed at the National Assembly in October and November 2022 (the “Bills”): (i) the “Proposed Act on the Restoration of Fairness in the Digital Asset Market and the Creation of Safe Trading Environment” and (ii) the “Proposed Act on the Regulation of Unfair Trade in Virtual Assets.”Financial Authorities Move to Strengthen Regulation of Corporate Restructuring
15th February 2023 As companies have recently been seeking various business activities to restructure their corporate governance and business structures, there is a growing interest in the protection of shareholders and investors. As a result, legal procedures related to corporate management and regulations on related disclosures have been strengthened.SAPA Indictments and Their Implications
15th February 2023 Since the Prosecutors’ Office (the “PO”) issued its first indictment for a violation of the Serious Accidents Punishment Act (the “SAPA”) on June 27, 2022, it has issued indictments on three separate cases on October 19 and November 3, 2022.US’ CHIPS Act of 2022, Inflation Reduction Act and Their Implications to Korean Companies
1st December 2022 In August 2022, US President Joe Biden signed the CHIPS and Science Act of 2022 and the Inflation Reduction Act of 2022, and therefore, the two laws entered into force. The two laws provide significant incentives to encourage semiconductor manufacturing in the US and wide-ranging incentives for climate change policies in areas including the clean and renewable energy industries. As these laws may significantly affect Korean companies in the relevant industries, they must review the details and prepare for possible issues.Seven Compliance Check Items Under the Enforcement Decree of the SAPA
20th July 2022 Under the Enforcement Decree of the Serious Accidents Punishment Act (the “SAPA”), companies subject to the SAPA must check their compliance status – at least once every six months – with respect to the seven items enumerated below. The SAPA duties are imposed on each company’s “responsible management personnel” (the “RMP”) as defined by the SAPA, who must establish and operate the company’s safety and health management system, by allocating budget, personnel and organizational resources, to secure safety and health.Regulatory and Legislative Trends Regarding Restructurings of Listed Companies
20th July 2022 In response to the concerns raised by various stakeholders, the National Assembly and the government have been preparing legislation and policies that would protect the rights and interests of minority shareholders pertaining to restructurings of listed companies and strengthen relevant procedural requirements.New Administration’s National Agenda on ICT and Fintech Industries
20th July 2022 In this article, we introduce the goals and tasks of the Presidential Transition Committee relating to digital finance, digital economy, and the media, prior to the inauguration of the 20th administration in May 2022.New Administration’s National Agenda on Insurance Industry and the Financial Authorities’ 2022 Business Plan
20th July 2022 The presidential term of President Yoon Suk-yeol began on May 10, 2022. On May 3, 2022, prior to the start of Yoon’s administration, the Presidential Transition Committee announced 110 national agenda items (the “National Agenda”). President Yoon aims to minimize government intervention through multifaceted regulatory reforms—such as reforming the president’s direct oversight over “Regulatory Innovation Strategy Meetings”—with the ultimate goal of fostering “a dynamic economy led by the private sector and reinforced by the government.” Meanwhile, prior to this, the Financial Services Commission (the “FSC”) announced its 2022 business plan that aims to “support economic growth through financial stability and financial development.” In addition, the Financial Supervisory Service (the “FSS”) announced its 2022 business plan that aims to “achieve financial stability, financial innovation, and thorough protection of financial consumers” (collectively referred to as the “2022 Business Plan of the Financial Authorities”).Key Issues and Implications of the New Administration’s Environment Policies
20th July 2022 On May 3, 2022, the 20th Presidential Transition Committee announced the national vision and six major goals of the Yoon Suk-yeol administration as well as 110 national agenda items (the “National Agenda”). President Yoon was inaugurated on May 10, 2022. In particular, the National Agenda contains detailed measures to implement the environment-related pledges of President Yoon and the “climate and environmental policy direction for a sustainable future” announced by the Presidential Transition Committee on April 28, 2022. The key issues are as follows.New Administration’s Corporate Law and Governance Policy and the Impact Thereof on Businesses
20th July 2022 On May 10, President Yoon Suk-yeol took office as the 20th President of the Republic of Korea. In line with the new government's corporate governance and capital market policies, relevant regulations are expected to change. Timely strategic responses from businesses will thus become more important.Big Blur: Competition with Big Tech Causing Banks to Launch New Businesses, and New Administration’s Regulatory Response
20th July 2022 The “Big Blur”, a reference to the growing ambiguity between financial and non-financial sectors, is expected to continue in the near future. As competition intensifies between existing financial institutions and big-tech companies, regulatory authorities are once again thinking of ways to reshape the regulatory framework to enhance the competitiveness of the financial industry.New Administration’s National Agenda on Fair Trade and Implications
20th July 2022 On May 3, 2022, the 20th Presidential Transition Committee (the “Committee”) announced 110 national agenda items (the “National Agenda”) for the Yoon Suk-yeol Administration, which lists the new administration’s key policy objectives and direction. They include detailed tasks relating to the field of fair trade under the objective of creating “a country where SMEs are at the center of the economy.”FSC Draws a Blueprint on the Future of Banking Business
10th January 2022 On October 28, 2021, Mr. Seung-Beom Koh, Chairman of the Financial Services Commission (the “FSC”) held a meeting with the banking industry, including the heads of commercial banks and representatives from industry associations, other regulatory bodies and research institutions.Legal, Regulatory and Policy Updates on Online Platforms and Content Provision Businesses
13th October 2021 As the size and social influence of online platforms and content provision businesses grow, various regulatory bills are being proposed and government authorities are accelerating discussions on establishing relevant policies.[SOUTH KOREA] Potential Regulatory Compliance Systems to Enhance the Safe Control of Chemical …
22nd February 2018Potential Regulatory Compliance Systems to Enhance the Safe Control of Chemical Substances
Continuing its policy to enhance the safe control of chemical substances, the Ministry of Environment (“MOE”) has been making legislative efforts to further heighten regulations of chemical substances.
[SOUTH KOREA] KFTC Announces Plan to Eliminate Technology Misappropriation
22nd February 2018On September 8, 2017, to promote joint growth of enterprises of all sizes and their collaborative efforts, the Korean Fair Trade Commission (“KFTC”) and the ruling Democratic Party of Korea held a consultation conference to step up efforts to eliminate unfair demands of technical information and/or misappropriation of technology by large conglomerates against small and medium-sized enterprises.
[SOUTH KOREA] Amendments to the Patent and Design Protection Acts Now Effective, Key Changes That…
13th February 2018Several amendments to the Patent Act (“PA”) and the Design Protection Act ("DPA"), which passed the National Assembly on March 2, 2017, went into effect on September 22, 2017. We highlight below the major changes:
[SOUTH KOREA] Supreme Court Affirms Lower Decision, Finding Invalid the Regulations on Foreign …
7th December 2017Supreme Court Affirms Lower Court Decision, Finding Invalid the Regulations on Foreign Exchange Report on Incorporation of Offshore Subsidiary by an Offshore Company
On June 15, 2017, the Korean Supreme Court affirmed an appellate court decision which ruled that a Korean company is not guilty of a violation of the Foreign Exchange Transactions Act (the “FETA”) for failing to file a foreign exchange report after its offshore branch office established an offshore subsidiary. This Supreme Court decision is a milestone decision that requires a clear legal basis in relevant statutes for finance-related regulations.
[SOUTH KOREA] New Administration’s Key Environmental Policies
7th December 2017To step forward as an environment-friendly government, the Moon Jae-in Administration has announced its key environmental policies, including improving safety in chemical substances and household chemical products, and reinforcing implementation measures of the Paris Agreement. Under the “sustainable development” paradigm, the new administration will continually promote new regulations to protect the environment and strengthen its enforcement of environmental regulations.
[SOUTH KOREA] Lower Court Issues Favorable Decision for 27,000 KIA Motors Employees in an …
7th December 2017Lower Court Issues Favorable Decision for 27,000 KIA Motors Employees in an Ordinary Wage Case
On August 31, 2017, the Seoul Central District Court held for around 27,000 employees of KIA Motors ("KIA") in their claim seeking payment of unpaid allowances. These allowances were not paid, because the defendant, KIA, had not included the employees' regular bonuses in their ordinary wages.
[SOUTH KOREA] Supreme Court Rules that Distributor’s Sales Agents Are Distributor’s Employees …
24th August 2017Supreme Court Rules that Distributor's Sales Agents Are Distributor's Employees, Entitling Them to Severance Payment from the Distributor
In a recent decision, the Supreme Court held that although a company (the "Distributor") executed service agreements with its sales agents (the "Sales Agents") who worked in the Distributor's retail space at a department store, the Sales Agents were the Distributor's "employees" as defined under the Labor Standards Act and entitled to statutory severance from the Distributor. Although the Sales Agents were subcontracted to the Distributor and received a sales commission for selling products on its behalf to customers, the Supreme Court ruled in favor of the Sales Agents.
[SOUTH KOREA] MOE Moves to Further Stringently Regulate Hazardous Chemical Substances
24th August 2017The Amendment to the Chemicals Control Act (“CCA”), as proposed by the MOE and promulgated on December 27, 2016, is scheduled to take effect on December 28, 2017 (the “Amendment”).
[SOUTH KOREA] KFTC Announces Standard Distribution Agreement for F&B Businesses
24th August 2017On February 15, 2017, the Korea Fair Trade Commission (“KFTC”) announced the Standard Distribution Agreement for transactions between suppliers and distributors in the food & beverage (“F&B”) industry.
[SOUTH KOREA] KFTC Announces Its Enforcement Plan Detailing Its Focus Areas for 2017
9th May 2017On January 5, 2017, the Korea Fair Trade Commission ("KFTC") announced its enforcement plan for 2017 (the "Plan"), and set out detailed policies to: (i) monitor and remedy anti-competitive structure and behavior; (ii) establish a healthy business system among large conglomerates and small and medium-sized enterprises (“SMEs”); and (iii) build a consumer-friendly environment promoting consumers’ rights.
[SOUTH KOREA] Ministry of Environment (i) Strengthens Safety/Labeling Standards for …
9th May 2017Ministry of Environment (i) Strengthens Safety/Labeling Standards for Potentially Risky Products and (ii) Introduces Biocides Act Modeled After EU’s Similar Regulation
On December 30, 2016, Korea’s Ministry of Environment (“MOE”) announced an amendment to the “Potentially Risky Product Designation & Safety/Labeling Standards” (“MOE’s Notice”), which strengthens the safety and labeling standards relating to potentially risky products, as well as the “Act on the Safe Control of Household Chemical Products & Biocides” (“Biocides Act”) modeled after the EU BPR (Biocidal Products Regulation) to regulate active substances and biocidal products.
[SOUTH KOREA] Korean Supreme Court Issues Several Rulings on Whether a Foreign Company Doing …
9th May 2017Korean Supreme Court Issues Several Rulings on Whether a Foreign Company Doing Business in Korea May Be Found to Have a Permanent Establishment
In 2016, the Korean Supreme Court issued several rulings shedding light on its approach when analyzing whether a foreign company conducting business in Korea may be found to have a permanent establishment (“PE”).
[SOUTH KOREA] Questions on Product Safety Continue, Bringing About Strengthened Regulatory Oversight
24th February 2017In the midst of growing public concern over the health hazards of certain household chemical products,¹ concerns are now being raised about the safety of chemicals in other types of products, such as "quasi-drugs" (e.g., toothpastes) and cosmetics.
Primarily, these recent concerns focus on the health hazards associated with biocides contained in household products. In particular, Korean people are concerned about chemicals that were used as biocides in some humidifier sterilizers, such as chloromethyl-methylisothiazolone (“CMIT/MIT”).
[SOUTH KOREA] (1) Hong Kong Tax Treaty, and (2) Amendment to the Korea–India Tax Treaty
1st February 2017Much earlier than expected, on September 12, 2016, the Korean government notified the Hong Kong government of the Korean National Assembly’s ratification of the Korea–Hong Kong Tax Treaty (“Treaty”). On September 27, 2016, the Treaty entered into force.
[SOUTH KOREA] KFTC Begins to Enforce the Amended Consumer Dispute Resolution Standard
1st February 2017KFTC Begins to Enforce the Amended Consumer Dispute Resolution Standard to Reinforce Consumer Protection
On October 26, 2016, the Korea Fair Trade Commission (the “KFTC”) announced that it would enforce its amendment to the Consumer Dispute Resolution Standard (the “Standard” or such amendment the “Amendment”).
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