Head of International legal team | Hanwha Ocean
Young Suk Lim
Head of International legal team | Hanwha Ocean
What are the most significant cases, projects and/or transactions that you and/or your legal team have recently been involved in?
Our team recently led a series of complex arbitration cases concerning the cancellation of three high-value drillship contracts, each with buyers ultimately owned by the shipping magnate John Fredriksen.
In particular, one of the most significant outcomes was the London Maritime Arbitrators Association (LMAA) tribunal’s full dismissal of a counterclaim filed by West Cobalt in connection with the termination of a drillship contract. The tribunal determined that West Cobalt had repeatedly failed to comply with its orders to provide Security for Costs. Exercising its discretion under the English Arbitration Act, the tribunal dismissed the counterclaim in its entirety.
This case was part of a broader series of disputes involving three drillship contracts, all of which were wrongfully rescinded by the buyers. The arbitral awards collectively reinforced the company’s contractual position and validated the integrity of its shipbuilding and delivery processes. The disputes were technically complex, crossing multiple jurisdictions and involving significant commercial and reputational implications for both sides.
The outcomes not only protected Hanwha Ocean’s commercial interests but also reaffirmed the importance of robust contractual frameworks and meticulous compliance with arbitration procedures. They demonstrate how sustained legal strategy, grounded in both commercial realism and procedural precision, can secure decisive results even against globally recognised counterparties.
How do you approach managing legal aspects during periods of instability or crisis to ensure the organisation’s resilience?
Our approach is based on early engagement and consistent collaboration. Over the years, we have worked hard to develop a culture in which the Legal team becomes involved in projects at the earliest possible stage — not just when an urgent legal issue arises.
Many in-house lawyers tend to establish communication with internal stakeholders only when immediate legal support is required. In contrast, our team makes a conscious effort to work closely with colleagues across all disciplines and divisions, even on seemingly minor or routine matters.
This proactive engagement allows us to understand the business context in depth, identify potential risks early, and build mutual trust long before a crisis emerges. By maintaining these strong working relationships, we ensure that the company is not only legally protected but also operationally resilient during periods of instability.
In short, organisational resilience is not built in moments of crisis — it is built in the day-to-day collaboration and communication that enable us to act swiftly, cohesively and decisively when pressure arises.
What do you think are the most important attributes for a modern in-house counsel to possess?
Modern in-house counsel must be proactive communicators who invest time in building relationships across the organisation. It is essential to maintain open and regular engagement with business colleagues even when there is no active legal matter at hand.
Strong relationships foster trust and understanding, enabling smoother collaboration when high-stakes projects or disputes arise. In-house lawyers must be approachable, pragmatic and commercially minded — understanding both the legal framework and the operational realities their colleagues face.
Ultimately, effective in-house counsel combine technical legal knowledge with empathy, clear communication and a collaborative mindset. These qualities transform the legal function from a reactive service provider into a trusted, strategic partner within the business.
Based on your experiences in the past year, are there any trends in the legal or business world that you are keeping an eye on that you think other in-house lawyers should be mindful of?
The rapid evolution of artificial intelligence is a trend all in-house lawyers must pay close attention to. Legal teams handle vast volumes of data — whether for transactions, compliance or disputes — and understanding data flows and work streams is becoming increasingly complex.
Successful management of this data, within the framework of data security and privacy laws, is critical. AI-driven tools can enhance efficiency and insight, but they also introduce new regulatory, ethical and operational challenges.
In-house counsel must therefore strike a balance between innovation and compliance, ensuring that the adoption of AI and digital tools strengthens governance rather than undermines it. Those who can master this balance will lead the next generation of effective, tech-enabled legal teams.