Lee & Ko was ranked Band 1 by 'Chambers Asia-Pacific Guide 2026’ in 10 practice areas. For the individual rankings, 72 attorneys were recognized as ‘Leading Individuals’ throughout all practice areas.

Banking & Finance

Capital Markets

Competition/Antitrust

Corporate/M&A

Insurance

Intellectual Property

International Trade

Projects & Energy

Shipping Finance

Technology, Media, Telecoms

Banking & Finance: Woo Young Jung, Yeo Kyoon Yoon, Yong-Jae Chang, Myoung Chul Kwak, Dong Seok Woo

Capital Markets: Hyunjoo Oh, Seunga Hyun, Jun Woo Cho

Capital Markets: Securitisation: Jin Hong Kwon

Competition/Antitrust: Yong Seok Ahn, Hwan Jeong, Jeong-Ho Sun, Suruyn Kim, Miji Lee, Byong Ki Chung

Corporate/M&A: Sanggon Kim, Ho Joon Moon, Hyeong Gun Lee, Yong Joon Yoon, Daehoon Koo

Dispute Resolution: Arbitration: Saemee Kim, Zachary Sharpe, Sanghoon Han, Grace Yoon

Dispute Resolution: Litigation: Pyoung Keun Song, Dajoo Jung, Seon Tae Kim, Jae Heon Park

Dispute Resolution: White-Collar Crime: Tae Ki Ghil, Taeyop Lee, Youngsub Jang, Jin So, Jae Man Yu

Employment: Sang Hoon Lee, Chang Soo Jin, Hyunseok Song, William Kim

Insurance: Jinyoung Jung, Jin Hong Kwon, Yang Ho Yoon

Intellectual Property: Jae Hoon Kim, Un Ho Kim, Keum Nang Park, Hyeon Gil Ryoo, Vera Eun Woo Lee, Hankil D. Kang, Hwansung Park, Jaewoo Kwak, Hayoun Chun

International Trade: Kichang Chung, Hyunsoo Joo, Young Gee Park, Young Jae Cho, Heysoo Kim

Projects & Energy: Hun Ko, Dong Eun Kim, Kwang Yul Kim, Jungmin Pak

Real Estate: Junghwan Lee, Dong Seok Woo

Restructuring/Insolvency: Eunjai Lee, Wanshik Lee, Jung Hyun Lee, Seok Pyo Hong

Shipping: Jinyoung Jung, Yang Ho Yoon

Shipping: Finance: Woo Young Jung, Yunjeong Seo

Tax: Kyung Tae Kim, Tom Kwon

Technology, Media, Telecoms: Kwang Bae Park, Hwan Kyoung Ko, Ju Bong Jang, Samuel (Soon-Yub) Kwon, Sunghee Chae, Tae Joo Kim

North Korea - General Business Law (Foreign Expertise based abroad in South Korea): Hyung Sub Lim

Chambers Asia-Pacific Guide is a law firm evaluation publication released by Chambers and Partners, a leading global legal publisher based in England, which selects top law firms and top lawyers in the Asia-Pacific region each year based on a comprehensive analysis of data submitted by law firms, interviews with partner lawyers and clients, and recently accomplished work.

2025.12.12

Awards Ranking

Jaewoo Kwak of Lee & Ko’s IP Group Named “Client Choice 2026” by the Lexology Index

Jaewoo Kwak, a partner of Lee & Ko’s Intellectual Property Group, has been selected for the Lexology Index: Client Choice 2026, in recognition of his expertise in the field of intellectual property and his exceptional client service.

Mr. Kwak is widely recognized as a highly versatile practitioner whose comprehensive and profound understanding of both technology and legal principles enables him to excel across a broad range of IP disputes and advisory matters. He achieved a dramatic turnaround and final victory in a decade-long, multi-billion-won patent battle involving ice water purifiers, and played a leading role in securing the Supreme Court decision in the unauthorized BTS photo book case, a landmark ruling that ultimately paved the way for the legislative recognition of the right of publicity in Korea.

He also possesses unparalleled expertise in international patent and trade secret disputes involving advanced technologies, as well as in complex e-discovery matters. More recently, he has garnered additional attention for his extensive work on AI-related and gaming-industry cases.

Since 2005, the Lexology Index: Client Choice has recognized lawyers around the world who demonstrate excellence in client care, based on evaluations from in-house counsel and a rigorous independent review process. Mr. Kwak’s selection reflects the continued trust placed in him by global and domestic clients, as well as his longstanding commitment to delivering the highest caliber of legal service.

2025.12.09

Seminar/Event

Seminar on “Legal Issues and Response Strategies Concerning Data Breaches and Hacking”

On December 4, Lee & Ko and Korea University School of Cybersecurity jointly hosted a seminar titled “Legal Issues and Response Strategies Concerning Data Breaches and Hacking,” organized by the Korea In-House Counsel Association.

The seminar commenced with welcoming remarks from Mr. Sanggon Kim, Managing Partner of Lee & Ko, and Senior Advisor Seok Young Jang, followed by a presentation session and a Q&A session.

The first presentation was delivered by Professor Kyungho Lee of Korea University School of Cybersecurity, who spoke on “Technical Issues and Challenges Regarding Hacking and Data Breaches,” addressing key technical considerations in security incident response, analyses of recent major data breach cases, and legal issues surrounding digital evidence.

The second presentation was given by Mr. Jongseob Park, Advisor at Lee & Ko, under the theme “Practical Response Strategies to Data Breaches – Case Study.” Mr. Park discussed response strategies during the critical 72-hour period immediately following a data breach, as well as the role of in-house legal teams in incident management.

The final presentation was delivered by Ms. Sunghee Chae, Partner at Lee & Ko, who spoke on “Legal Issues in Data Breach Incidents Through Major Court precedents and Regulatory Decisions,” examining key legal considerations in data breach incidents, major regulatory decisions on the presence of data breach, and significant court precedents concerning security measures to protect personal data.

During the Q&A session, moderated by Mr. Hwan Kyoung Ko of Lee & Ko, Partner and Head of Privacy/DPC Group at Lee & Ko, the three speakers were joined by Mr. Tae Joo Kim and Mr. Kyung Min Son, both Partners at Lee & Ko, who addressed questions submitted in advance as well as those raised on site by the participants.

Lee & Ko has accumulated extensive practical experience in the fields of privacy, security incident and data breach response through its Privacy/DPC Group. Recently, the firm established a dedicated “Hacking Response Team” to further strengthen collaboration between technical and legal experts. Through this enhanced structure, Lee & Ko provides comprehensive, tailored advisory services for security incidents based on the characteristics of each industry sector and type of incident.

2025.12.04

Seminar/Event

Seminar on “Changes in the IP and Technology Protection Environment in the Era of Technological Innovation and How to Respond”

On November 27, 2025, Lee & Ko’s IP & Technology Group successfully hosted a seminar titled ‘Changes in the IP and Technology Protection Environment in the Era of Technological Innovation and How to Respond.’

Lee & Ko’s IP & Technology Group’s seminar, celebrating its 11th anniversary of the annual client seminar series starting in 2015, has consistently provided an in-depth exploration of key issues in IP field. This year, the seminar marked a pivotal moment in the evolution of Lee & Ko’s IP Group into the IP & Technology Group, broadening its focus to include not only traditional IP rights but also on a wide array of emerging technology-related matters.

The first part of session centered on dispute response strategies directly relevant to corporate practices. Ms. Yi-Kang Kang opened the session on “Patent and Trade Secret Dispute Response Strategies,” covering methods for securing evidence in technology disputes and the application of punitive damages under patent law. Ms. Shin Sil Choi followed with a discussion on “Responsive Strategies for Unfair Competition Disputes,” analyzing various case law on unauthorized use of achievements under the Unfair Competition Prevention Act and offering corporate response strategies in this regard. The first session concluded with additional presentations by Ms. Soo Yeon Park, who shared “Product Defects, Recalls, and Dispute Response Strategies.” Ms. Park discussed various dispute cases and solutions related to defects in pharmaceutical products, medical devices, and household chemicals, while also addressing legal risk management strategies.

The second session featured new regulations and global dispute trends in the era of technical innovation. Mr. Jae Woo Kwak presented on “Recent Trends in AI Technology Regulation and Legal Issues,” covering global AI copyright infringement, defamation, and product liability cases, along with domestic regulations such as the Artificial Intelligence Basic Law. Mr. Ah Hyun Nam delivered “Recent Developments in U.S. ITC and PTAB,” focusing on latest global trends such as the Domestic Industry Requirement at the U.S. International Trade Commission (ITC) and Discretionary Denial at the U.S. Patent Trial and Appeal Board (PTAB). Finally, Mr. Il Gwon Kim spoke on “Latest Trends in Cross-Border Technology Disputes,” exploring cases involving attempts to bypass technological barriers in international transactions and key trends which companies should be aware of.

Lee & Ko’s IP & Technology Group is one of the leading technical legal expert teams in Korea, comprising approximately 80 intellectual property-specialized attorneys-at-law and around 80 patent attorneys with broad technical expertise in various aspects of IP. The group handles not only traditional IP matters- including patents, trademarks, copyrights, trade secrets, and unfair competition—but also a wide range of technology-related disputes and advisory work, such as biotechnology, AI and data-related disputes, semiconductors, and healthcare. With its technical expertise and unrivaled experience in the field, Lee & Ko’s IP & Technology Group provides a comprehensive one-stop legal service tailored to meet the needs of clients in various global IP disputes and related matters.

2025.11.27

Seminar/Event

Lee & Ko Aerospace Industry Team and the Korea Aerospace Industries Association Co-Host the "Aerospace Leaders Breakfast Forum"

Lee & Ko’s Aerospace Industry Team co-hosted the 16th “Aerospace Leaders Breakfast Forum” with the Korea Aerospace Industries Association on Wednesday, 26 November 2025.

At the session, Partner Attorney Insoo Lee of Lee & Ko’s Aerospace Industry Team delivered a presentation titled “The Current Landscape and Future Challenges of Aerospace Law.” He provided an overview of international aerospace law and the current domestic legal framework, and further examined key legislative issues and potential improvements, with a particular focus on the Aerospace Industry Development Promotion Act and the Space Development Promotion Act. He concluded by addressing potential future legal disputes in the aerospace sector and offering recommendations for stakeholder preparedness.

Lee & Ko established its Aerospace Industry Team in February 2024, becoming the first major law firm in Korea to do so. The team was launched in anticipation of the establishment of the Korea AeroSpace Administration (KASA) and now provides comprehensive legal services across regulatory matters, public procurement, legislative consulting, intellectual property, and international trade issues relating to the aerospace industry.

2025.11.26

Seminar/Event

Joint Seminar Hosted by Lee&Ko and ISS Corporate

On November 20, 2025, Lee & Ko and ISS Corporate jointly hosted a seminar. In addition to presentations by Lee & Ko and ISS Corporate, the seminar also featured a presentation by a representative from the Korea Exchange’s Corporate Value-Up Program team.

The first session, led by Mr. Jun Frank, the Managing Director and Global Head of ISS Corporate’s Compensation & Governance Advisory, reviewed the 2025 annual general meeting (AGM) season and provided insights into ISS’ proxy voting guidelines as well as strategies for effective engagement with ISS.

In the second session, Mr. Yuseok Kim, a partner of Lee & Ko’s Corporate Group, offered a comprehensive overview of various scenarios currently under discussion in the market to address the amendments to the Korean Commercial Code ahead of next year’s AGM season.

The final session featured Mr. Ilgyu Ko, the Team Leader of the Korea Exchange’s Corporate Value-Up Support Department, who gave a detailed explanation of the progress and future direction of the Corporate Value-Up Program aimed at enhancing shareholder value. He encouraged listed companies to actively participate in the Program to strengthen shareholder communication.

Ho Joon Moon, the Managing Partner of Lee & Ko, shared closing remarks, expressing hope that the seminar would help clients develop strategies to address governance and AGM-related issues for the 2026 AGM season and beyond. He also emphasized Lee & Ko’s commitment to providing comprehensive consulting services that extend outside traditional legal offerings.

2025.11.20

Press & Releases

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[DailyPharm] "Big Change is Coming" - Government Unveils Unprecedented Drug Pricing Reform

On December 8, 2025, Kim Sungju, Senior Specialist at Lee & Ko, appeared on the DailyPharm “Reimbursement at a Glance” segment to discuss the government’s newly announced, large-scale overhaul of the nation’s drug pricing system. Kim explained that “the large-scale drug pricing reform plan announced by the government includes a plan to secure financial resources for improving access to innovative new drugs by lowering prices of generics. Specifically, the government intends to reduce the current generic pricing benchmark from 53.55% of the originator price to the 40% range.”

Kim also noted that “the government aims to implement the reform in the second half of 2026. Considering the domestic pharmaceutical industry’s heavy reliance on generics, this is understandably a cause for concern. In particular, due to the tighter controls on multiple-product listings and the strengthening of the stepped pricing system to prevent excessive competition – under which prices may be reduced further when ten or more products are listed –it would be appropriate to view the actual prices of most generics as falling below, rather than within, the 40% range of the originator price..

2025.12.08

[Aju Economy] [Law Firm Hot Spot] Multi-Layered and Proactive Responses in the Aerospace Sector… Lee & Ko Aerospace Industry Team

On December 7, 2025, Aju Economy featured the dedicated Aerospace Industry Team of Lee & Ko.
Aju Economy reported that “Lee & Ko launched its Aerospace Industry Team in February last year in anticipation of the establishment of KASA (Korea AeroSpace Administration), taking preemptive steps to keep ahead of industry developments. The fact that this dedicated team was created earlier than those of other major law firms makes it particularly significant.”
The article continued, “The Aerospace Industry Team is led by Attorneys Hyuk Jung Kim and Hyeon Gil Ryoo and is composed of 15 specialized professionals. With attorneys such as Un Ho Kim, Keun Beom Park, Jongseok Lee, and Kwang Ik Son, as well as Senior Advisor Seo Gon Kim —who previously served as Director for Economic Security Bureau at the National Intelligence Service—the team has built a well-balanced structure spanning legislation, regulation, technology, trade, and national security. This diverse pool of experts enables the team to comprehensively address the complex issues that arise in the aerospace industry, giving it a competitive edge over other firms.”

2025.12.07

[Hankyung Business] Young Joo Cho of Lee & Ko Named Best Lawyer in Legislative Advisory [2025 Korea’s Best Law Firms & Lawyers]

November 28, 2025
The Korea Economic Daily reported that Young Joo Cho of Lee & Ko was named Best Lawyer in legislative advisory for the second consecutive year. According to the Korea Economic Daily, “Attorney Cho has drawn on his extensive research and expertise in international law and international aviation law to provide advisory services to the government in the aviation sector for the past 13 years, while also serving as a trusted adviser to related companies.” It added, “His performance stood out again this year, noting that he successfully advised on Air Incheon’s acquisition of Asiana Airlines’ air cargo business, led by Socius, a domestic private equity fund management company. Despite the fact that personnel and physical facilities had not been transferred prior to closing, Attorney Cho secured operating permits before the closing date by persuading authorities in 13 countries, thereby helping to prevent a potential disruption to the aviation logistics market.”

2025.11.28

[Hankyung Business] Ho Joon Moon of Lee & Ko Named Best Lawyer in Management Advisory [2025 Korea’s Best Law Firms & Lawyers]

November 28, 2025
In the 2025 Korea’s Best Law Firms & Lawyers survey conducted by the Korea Economic Daily and Hankyung Business in collaboration with the Korea In-house Counsel Association, targeting 1,038 corporate legal officers and in-house counsel, Ho Joon Moon, Managing Partner of Lee & Ko, was selected as the Best Lawyer in management advisory. The Korea Economic Daily commented, “Mr. Moon as the managing partner leading Lee & Ko’s Corporate Advisory and M&A Team, projected that management control disputes are likely to continue increasing due to amendments to the Commercial Act,” adding that “the Corporate Advisory and M&A Team led by Mr. Moon advised on some of the most high-profile and closely watched management control disputes and shareholder activism cases in the market this year, including matters involving Kolmar Group, Hanmi Science, and Bodyfriend.”

2025.11.28

Deals & Cases

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LG Chem’s sale of its Water Solutions Business

On June 13, 2025, LG Chem entered into a Business Transfer Agreement to sell its Water Solutions business to Korea Water Solution Holdings, a subsidiary of Glenwood Private Equity, with the rights and obligations of the business subsequently transferred to NanoH2O, Inc. As legal counsel to LG Chem, Lee & Ko successfully provided comprehensive legal services throughout the entire process leading to the successful closing of the transaction.

This carve-out transaction involved significant complexities, as the seller was required not only to divide and transfer part of the site it currently occupies but also to transfer contracts, workforce, licenses, assets, rights, and obligations on a detailed, item-by-item basis. Additionally, to ensure a smooth transition, both parties had to agree on various operational matters, such as joint use of facilities, utility supply, and transition support.

Throughout the process, Lee & Ko provided swift and effective legal counsel on issues ranging from the division and sale of the factory site, the review of regulatory requirements for business and environmental permits, to negotiating and executing ancillary agreements essential for the seamless execution of the business transfer. The firm’s prompt and strategic advice played a critical role in the successful completion of the transaction.

2025.12.01

Merger between SK On and SK Enmove

Lee & Ko advised on an absorption-type merger transaction in which SK On was the surviving company and SK Enmove was the dissolving company.

The transaction attracted significant market attention because (i) it was carried out as part of a structural reorganization within the SK Group, one of the largest conglomerates in Korea, (ii) the combined net asset value of the merging entities amounted to approximately KRW 18 trillion, making it one of the largest M&A transactions in Korea this year in terms of scale, and (iii) each of the merging entities had financial investor (FI) shareholders, and the merger was linked to those FI shareholders’ exit.

In particular, through this transaction, SK On seeks to generate synergies in areas such as batteries and lubricants for electric vehicles by merging with SK Enmove, a company engaged in the production and sale of base oil and lubricants. The merger has also laid the groundwork for the continued growth of SK On’s battery business. As a result, SK On is regarded as having significantly strengthened its capabilities to lead Korea’s energy and materials industries.

Lee & Ko provided comprehensive legal advice to the merging companies and their largest shareholder, SK Innovation, including scheduling the transaction timeline, drafting the merger agreement, negotiating with FI shareholders and preparing related agreements, filing merger control notifications, and advising on other procedures and legal issues relating to the transaction. By appropriately analyzing the various legal issues involved and proposing effective solutions, the firm is regarded as having successfully advised on the transaction.

2025.11.01

CJ CheilJedang’s sale of shares in a total of 14 companies including CJ Feed&Care

CJ CheilJedang Corporation and its subsidiaries entered into an agreement on October 1, 2025 to sell their shares in a total of 14 companies engaging in the feed and care business to De Heus Animal Nutrition B.V., a global animal feed company, and its affiliates.

The Transaction is a large-scale cross-border M&A deal involving the sale by multiple Sellers of shares in a total of 14 companies established in Korea and overseas to multiple Purchasers. Given the need for an extensive understanding of the legal systems across various jurisdictions from the transaction structure review stage, coupled with the involvement of a listed company as one of the Sellers, which required highly intensive negotiations within a short period of time to ensure confidentiality, the Transaction was complex and highly challenging.

Lee & Ko provided comprehensive and efficient legal advice on the entire Transaction by directly handling the review of Korean and Vietnamese legal issues throughout all stages of the deal, including transaction structure review, legal due diligence, and contract drafting, negotiation, and execution, and by serving as a command center overseeing and coordinating local counsels in Hong Kong, Indonesia, the Philippines, and Cambodia. Through such professional and systematic advisory work, Lee & Ko played a key role in successfully addressing the complex transaction structure and multinational legal issues, thereby contributing decisively to the smooth signing of the agreement.

2025.10.01

Air Liquide’s acquisition of DIG Airgas

Lee & Ko successfully advised Air Liquide group, one of the world’s largest industrial gas suppliers, on its acquisition of DIG Airgas. This transaction, valued at approximately KRW 4.6 trillion, represents one of the largest deals announced in Korea in 2025. Far beyond a simple large-scale acquisition, the transaction encompassed a wide range of complex legal and structural issues, including analysis and review of the transaction structure and acquisition financing structures from the initial stages of the transaction, repayment mechanisms for existing shareholder loans and acquisition facilities, assessment of post-merger integration (PMI) matters, analysis and advising on commercial agreements and withholding tax issues on capital gains realized by foreign sellers. Lee & Ko further provided comprehensive legal services throughout the entire process of the transaction, including legal due diligence on DIG Airgas and its Chinese subsidiaries, review and negotiation of the definitive agreements, business combination report filing with the Korea Fair Trade Commission and other required regulatory approvals including recently enacted and precedent-setting filing required by the Korean government, as well deep involvement with the W&I insurance underwriting process. Notably, the deal is highly regarded for having reached a definitive agreement within approximately two weeks following the final bidding process and approximately within a week from the initiation of intensive negotiations, in which Lee & Ko’s proactive role and contributions were instrumental. This deal stands as one of the representative examples of Lee & Ko’s global M&A expertise, successful negotiations with a global infra fund leveraging Lee & Ko’s significant expertise in advising on global GP-led transactions, undisputed leading experience with industrial gas transactions, unwavering client dedication, and proven execution capability in bringing highly complex transactions to completion within an accelerated timeframe.

2025.08.22

Providing legal advice on production-related matters, including those for Netflix series, and assisting with intellectual property clearance

Lee & Ko has been advising on production-related contracts and intellectual property clearance—covering copyright law, the Unfair Competition Prevention Act, and publicity rights—for Netflix series since 2022, contributing to the smooth production and distribution of major works. Representative projects include Squid Game Seasons 2 and 3, Culinary Class Wars, The Trauma Code: Heroes on Call, Karma, and Gyeongseong Creature Seasons 1 and 2.

Lee & Ko reviews a wide range of agreements essential to the production process, including talent and crew contracts, post-production agreements such as VFX, location leases, copyright use consents, and overseas PSAs for foreign shoots. Drawing on extensive experience, Lee & Ko provides practical, production-focused legal advice tailored to the needs of clients.

Lee & Ko’s clearance reviews primarily address issues in copyright, trademark, patent, and unfair competition law, as well as matters involving real names or depictions of real-life events. Depending on the content, Lee & Ko also advises on specialized issues, such as the use of Olympic symbols, youth protection in drama scenes and filming, and personal data consent. This breadth of expertise ensures that producers receive effective, comprehensive guidance across the many legal challenges of content creation.

Lee & Ko further supports clients on Errors & Omissions (E&O) insurance matters, including preparing title reports and conducting IP clearance, to help mitigate the risk of future copyright and personality rights claims. Representative work in this field includes MBC dramas Chief Detective 1958, Doubt, and Oh My Ghost Clients; SBS dramas Revenant, The First Responders, Payback: Money and Power and JTBC’s Reborn Rich.

Through these production-related legal services, Lee & Ko helps Netflix and leading production companies to actively identify and resolve legal issues in advance, safeguard against disputes, and ensure the seamless development and release of content. Lee & Ko continues to play a trusted role across numerous high-profile productions, earning consistent recognition and positive feedback from both Netflix and its production partners.

2025.06.30

Consulting on the Introduction of the Accountability Map following the Amendment of the Act on the Corporate Governance of Financial Companies July 2024 ~

Lee & Ko’s Finance & Securities Group successfully completed projects for major financial companies across all financial sectors during the first half of 2025. These clients included BNK Financial Group, Suhyup Bank, DB Life Insurance, MetLife Insurance, DB Insurance, Lotte Insurance, Korean Reinsurance, Seoul Guarantee Insurance, Hyundai Card, Hyundai Commercial, Kyobo AXA Investment Managers, Daishin Securities, and Hyundai Capital, spanning banks, securities firms, card companies, capital firms, and savings banks. The projects involved preparing and submitting the newly introduced "Accountability Map" to the financial supervisory authorities in accordance with the amended Act on the Corporate Governance of Financial Companies, as well as refining the internal control systems of the respective financial institutions.

The introduction of the Accountability Map requires each financial company to prepare and submit a document to the financial authorities that specifically outlines the responsibilities of the CEO and executives related to internal controls. The implementation of this system necessitated systematic and detailed preparation by each financial company, integrating both legal and practical perspectives.

In response, Lee & Ko’s Finance & Securities Group went beyond simple legal advisory in these projects, playing a pivotal role in ensuring the effective operation of each financial company's internal control system as follows:

Designing an Effective Accountability Allocation Structure: We designed a customized Accountability Map without gaps or redundancies by meticulously analyzing each company's work procedures and lines of command and supervision.

Refining Overall Internal Regulations related to Internal Control: Through a detailed analysis of approximately 80 major laws and regulations related to internal control, we reviewed and amended key internal regulations, including the internal control standards.

Providing a Comprehensive Diagnosis and Improvement Plan for the Internal Control System: We contributed to establishing a practically operable internal control system by comprehensively diagnosing potential risk factors in the existing system and proposing improvement measures.

Through the successful execution of these projects related to the introduction of the Accountability Map, our Finance & Securities Group has solidified its position as the most trusted legal advisor in the field of financial regulation by enabling our clients to build stable internal control systems amidst a rapidly changing financial regulatory environment.

2025.06.30

Hanwha Life Insurance’s Issuance of USD 1 Billion Capital Securities

Lee & Ko acted as Korean legal counsel to the joint lead managers in connection with Hanwha Life Insurance’s successful issuance of USD 1 billion hybrid capital securities in the international markets on June 24, 2025.

Despite heightened uncertainty in global financial markets due to the ongoing conflict in the Middle East, the offering was met with strong investor demand, attracting orders in excess of USD 8.8 billion—more than eight times the issuance amount—underscoring the deal’s success.

The securities were structured as 30-year notes callable after 5 years and were priced at an annual coupon of 6.3%. The transaction enabled Hanwha Life to strengthen its capital adequacy position under the Korean Insurance Capital Standard (K-ICS).

Lee & Ko provided a full range of legal support throughout the transaction, including review of the underwriting agreement, bond terms, and offering circular to ensure compliance with K-ICS requirements. Notably, following the circulation of the offering circular but just ahead of pricing, a revision to the Korean Insurance Supervisory Regulation lowered the recommended K-ICS threshold applicable to early redemption of subordinated bonds. Lee & Ko promptly coordinated with the underwriters and international counsel to issue a supplemental investor disclosure, ensuring the delivery of accurate information to investors and facilitating a successful issuance.

In addition to this transaction, Lee & Ko has advised on a number of major offshore bond offerings in the first half of 2025 by leading Korean issuers such as LG Chem, Korea National Oil Corporation, Korea Ocean Business Corporation, KB Kookmin Bank, KT&G, LG Energy Solution, Mirae Asset Securities, Industrial Bank of Korea, Hana Securities, and Hyundai Capital—further demonstrating its deep expertise and leading role in Korea’s capital markets practice.

2025.06.24

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