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Bae, Kim & Lee LLC

133 TEHERAN-RO, GANGNAM-GU, SEOUL 06133, SOUTH KOREA
Tel:
Work +82 2 3404 0000
Fax:
Fax +82 2 3404 0001
Email:
Web:
www.bkl.co.kr
Beijing, Dubai, Hanoi, Ho Chi Minh City, Hong Kong, Seoul and 1 more

Bae, Kim & Lee LLC (BKL) is among the oldest and largest law firms in Korea with over 600 professionals. With practice groups specialised in every significant area of law for business in Korea, BKL supplies timely, accurate and practical legal support to its clients, wherever they are based, across a broad cross-section of industry, investment and finance.

BKL has long been at the leading edge of cross-border legal work in Korea. Among its many practice areas, it has been one of the busiest firms in Korea in the areas of M&A, finance and securities, advising clients from North America, Europe and Asia for over three decades. Likewise, BKL has built a reputation in the disputes arena not only as a litigation powerhouse but also as one of the top international arbitration and cross-border disputes teams in Asia.

Owing to the scale, quality and volume of its work, BKL has received many 'Deal of the Year' and 'Firm of the Year' honours. In every recognised client or peer assessment, BKL is ranked among the top firms in Korea. In all the firm does, it strives to provide client-focused legal services to its clients, many of whom have been with the firm for many years.

The firm's clients include many multinational business groups and leaders in the Korean market. Manufacturer clients represent industries such as automotive, software, consumer goods, pharmaceuticals, oil and gas and shipping. Among its financial clients are banks, brokerage and asset management companies, insurers and private equity groups. Other clients are in energy, property development, retail and broadcasting, to name a few.

Headquartered in Seoul, BKL maintains overseas offices in Beijing, Shanghai, Dubai, Hong Kong, Hanoi, Ho Chi Minh City and Yangon. The first Korean firm to set up offices in China and the UAE, BKL has pioneered a region-wide approach to legal services. BKL is also the first Korean law firm to establish its branch office in Pangyo Techno Valley,  an industrial complex in the city of Pangyo, South Korea.  BKL is a member of the World Law Group and regularly collaborates with other firms across the world.

 

  • Number of partners: 223
  • Number of lawyers: 511
  • Number of fee-earners: 629
  • Breakdown of work %
  • Issuance of of Asia’s First Water Bond by K-water : 
  • Lotte Card’s acquisition of Techcom Finance: 
  • Korea Eximbank's financing of UAE Barakah Nuclear Power Project: 
  • KFTC sanctions against Qualcomm’s abuse of dominant market position (counsel to Samsung·LG·Apple) : 
  • Sale of Homeplus by Tesco : 
  • IPO of LIG Nex1 and Innocean : 
  • Merger of Hana Bank and Korea Exchange Bank: 
  • Kakao's Issuance of GDR and listing on Singapore Exchange: 
  • Unilever’s acquisition of Carver Korea: 
  • Samsung Electronics’ sale of its printing business to HP: 
  • Korea Land & Housing Corporation launches South Saad Al Abdullah New Town Development : 
  • Kakao Bank Consortium achieves clearance for internet banking: 
  • SIAC arbitration for Lotte E&C relating to Hyatt Regency Hotel project in Mongolia : 
  • IPOs of Doosan Bobcat, Samsung Biologics and Celltrion Healthcare: 
  • LG Display’s establishment of Vietnamese subsidiary for production of OLED modules : 

  • Languages
  • English
  • French
  • German
  • Spanish
  • Hindi
  • Italian
  • Japanese
  • Korean
  • Portuguese
  • Russian
  • Vietnamese
  • Chinese
  • Urdu
  • Burmese
  • Member
  • IPBA
  • World Law Group
  • IBA (International Bar Association)
  • American Bar Association (ABA)
  • Korean Bar Association
  • American Chamber of Commerce in Korea
  • Japan Intellectual Property Association (JIPA)

Above material supplied by Bae, Kim & Lee LLC.

Legal Developments by:
Bae, Kim & Lee LLC

Legal Developments in South Korea

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • Korean Financial Regulators Advance Legislation to Introduce Regulatory Sandbox to Spark FinTech

    The 2018 year in review in Korea was notable for the sluggish overall economy, uncertainty surrounding the geo-politics and impact on Korea due to the global trade wars, on-going concerns related to the lack of jobs and unemployment, increased taxes and burdens for businesses and families, and no meaningful improvement or clarity in the current situation for 2019. In response, the Korean National Assembly passed a legislation called the Financial Innovation Support Act (the “FinISA”) on December 7, 2018 to spark the financial services industry in conjunction with FinTech products and services. The FinISA, which will soon take effect in March 2019, is intended to lay the legal foundation to introduce a regulatory sandbox for innovative financial services, where FinTech firms test their new products and services without certain regulatory oversight pursuant to exemptions for a limited period of time (“Sandbox”). As the FinISA exempts or defers application of existing finance-related regulations for new financial technology, products or services with the purpose of fostering the creation of innovative and new financial products and services, it will also support the stabilization of such services in the financial services market at the end of the testing period and is expected that the FinISA will support a revitalization of the FinTech industry which experienced sluggish growth in recent times. In particular, as companies and investors become more interested in security tokens and Security Token Offerings (“STO”) which are regulated by the Financial Investment Services and Capital Markets Act (the “FSCMA”), there have been on-going discussions and debates as to whether the FinISA could lead to a breakthrough in the crypto-asset industry based on blockchain technology. Crypto assets encompasses those assets which utilize blockchain technology where the asset is digitalized by utilization of cryptography, peer-to-peer networks and a public ledger of verified transactions resulting in a ‘units’ of such a crypto asset without any involvement by middle-persons or brokers (e.g., cryptocurrency.
  • Flying Under the Radar

    Flying Under the Radar: Companies Must Increase Awareness of the Potentially Dormant and Disruptive Changes to the Minimum Wage in Korea
  • New Legislation: Amendment to the Enforcement Decree of the Act on External Audit of Stock Companies

    The amendment to the Act on External Audit of Stock Companies (the “Act ”) and the enforcement decree thereof (the “Enforcement Decree ”), whose key feature pertains to the external audit and disclosure requirements for limited liability companies, became effective as of November 1, 2018. Certain provisions relating to the category of targets of external audits will become effective with respect to the fiscal years that commence on or after November 1, 2019. Therefore, for the majority of companies whose fiscal years begin on January 1 and ends on December 31 of each year, the revised category will become effective with respect to the fiscal year that begins on January 1, 2020.
  • New Proposed Tax Law Amendments Provide Clarification on the Taxation of Foreign Funds

    On July 30, 2018, the Korean Ministry of Economy and Finance (“MOEF ”) announced the proposed tax law changes/amendments for 2019 and beyond (“Proposals ”). The Proposals are expected to be reviewed and finalized by the Korean National Assembly in December 2018.
  • KFTC to Expand Scope and Penalties of Korea’s Antitrust Enforcement Regime

    Korea’s competition authority, the Korea Fair Trade Commission (the “KFTC , has announced a proposal to expand its existing enforcement authority to the courts and prosecutors through a full-scale reform of the Monopoly Regulation and Fair Trade  Act, Korea’s primary competition statute. If all proposed reforms are passed by the National Assembly as currently drafted, the impact on the Korean economy and antitrust enforcement will require companies doing business in Korea to tighten their risk management and compliance measures, as the scope and penalties of Korean antitrust enforcement would be broadened.
  • Korean data law amendments pose new constraints for cross-border online services and data flows

    Under amendments to IT Networks Act, set to take effect in March 2019 , offshore online businesses, meeting thresholds of nexus to Korea, will be required to designate local agent for regulatory oversight purposes.
  • New Legislation Reduces Maximum Weekly Working Hours in Korea

    *For better understanding of this article with other graphics , we highly recommend you to visit our firm's website as below. http://www.bkl.co.kr/upload/data/20180410/bkl-legalupdate-2018000410.html#.WsxBYIhuaHs
  • Supreme Court Renders Decision Calling for “Gender Sensitivity” in Sexual Harassment Cases

    Amid the widespread attention that sexual harassment/violence in the workplace has received due to international movements such as the “Me Too” movement, the Supreme Court of Korea has recently rendered a significant decision on the need to reform the judicial system’s approach to sexual harassment cases.
  • [South Korea] Amendment to Unfair Competition Law

    A bill to amend the Unfair Competition Prevention and Trade Secret Protection Act (the “UCPA”) was promulgated on April 17, 2018, and is scheduled to take effect on July 18, 2018.   The bill introduces significant amendments to the UCPA, namely stipulating store interior designs as business marks and making the unauthorized use of “ideas” an act of unfair competition, thereby substantially expanding the applicability of Subparagraph 1 (j) of Article 2 (“fraudulent use of another person’s product”) of the current (or pre-amendment) UCPA.
  • [South Korea] Location information law amended to ease requirement for tracking of objects

    Under changes to Location Information Act, to take effect in October 2018, businesses will be allowed to track goods after obtaining registration instead of license.