Recent Developments

On January 9, 2026, The Asia Business Dailey reported on the client seminar titled “Analysis and Outlook on the Amended Enforcement Decree and Interpretive Guidelines of the Trade Union and Labor Relations Adjustment Act,” hosted by Lee&Ko. According to the article, the seminar was organized to provide a clear and accessible explanation of the interpretative guidelines and proposed amendments to the Enforcement Decree of the Trade Union and Labor Relations Adjustment Act (the so called “Yellow Envelope Act”), which were announced by the Ministry of Employment and Labor at the end of last year and are scheduled to be implemented on March 10. The Seminar aimed to offer practical guidance to corporate representatives preparing for the new regulatory framework.

The article further noted that the seminar attracted more than 1,000 participants, reflecting the high level of interest among companies in the upcoming legislation.

On January 4, 2026, Seoul Economic Daily featured Lee & Ko’s Digital Asset Center in a report highlighting 2026 as the inaugural year of institutionalization for virtual assets in Korea and the beginning of a major regulatory and market transition, particularly in the stablecoin sector.

The article explained that the Center was established based on the principles of integration and efficiency, following the expansion and reorganization of Lee & Ko’s former Digital Assets Team and Virtual Asset Regulation & Investigations Team. Through this integration, the Center now offers a comprehensive, cross-disciplinary legal platform covering regulatory compliance, transactions, investigations, and dispute resolution across the digital asset industry.

The Center operates under a dual leadership structure jointly led by Jongsoo(Jay) YOON and Eun Pyo HONG.

Mr. Yoon, a former judge, is a recognized authority in digital asset and fintech regulation and serves as an advisory member to the Digital Asset eXchange Alliance (DAXA) and the Cultural Finance Subcommittee of the Korea Fintech Industry Association.

Mr. Hong served for over 20 years in the judiciary, including as a Research Judge at the Supreme Court of Korea, and currently serves as President of the Korea Blockchain Law Society.

The regulatory practice is led by Partners Wooyoung CHOI and Seohee HAN, widely regarded as first-generation specialists in Korea’s virtual asset regulatory regime, with extensive experience in virtual asset issuance regulations, disclosure frameworks, and supervisory matters.

With its strengthened structure and market-leading expertise, Lee & Ko’s Digital Asset Center is positioned to provide sophisticated legal solutions to clients navigating Korea’s rapidly evolving digital asset and stablecoin regulatory landscape.

On January 2, 2026, Maeil Business Newspaper reported that Seonghwan JU, Partner at Lee & Ko, received a commendation from the Deputy Prime Minister and Minister of Economy and Finance of Korea in recognition of his significant contributions to the development of Korea’s foreign exchange regulatory framework for stablecoins.

Mr. Ju has actively participated in the Ministry of Economy and Finance’s initiatives to establish and refine regulatory regimes governing virtual assets, with a particular focus on stablecoins. His work has played an important role in shaping policy discussions on the legal classification and regulatory treatment of stablecoins within Korea’s foreign exchange regulatory system.

He is the co-author of the influential report “Legal Status of Stablecoins and Regulatory Framework under the Foreign Exchange Transactions Act,” which provides an in-depth analysis of the impact of stablecoins on the real economy, financial markets, and foreign exchange markets. The report has been widely recognized for proposing practical regulatory structures designed to promote sound market development while enhancing the efficiency and effectiveness of supervisory oversight.

The commendation reflects the Ministry’s recognition of Mr. Ju’s expertise and his meaningful contribution to the advancement of Korea’s regulatory framework for digital assets, particularly in the rapidly evolving stablecoin sector.

On January 1, E-Today published an interview with Sang Gon Kim, Managing Partner of Lee & Ko. In the interview, Mr. Kim commented on the firm’s strategic vision and its ongoing commitment to excellence in the legal industry. He stated, “Our short-term goal is to maintain a clearly differentiated and solid position as the second-largest law firm, and in the long run, we are aiming to establish a strong dual-leadership structure with Kim & Chang.” He further noted, “Lee & Ko has significantly enhanced its criminal trial capabilities by recruiting top talent from the judiciary. Following the expansion of our criminal trial team with outstanding professionals from the courts, we successfully secured acquittals in high-profile corporate cases involving clients such as Hanssem, SPC, and Kakao.” Mr. Kim added, “Our criminal litigation team is widely acclaimed as one of the best in the legal community, delivering results that live up to that reputation.” Beyond litigation, Mr. Kim highlighted the firm’s expertise in a broad range of practice areas. “Lee & Ko continues to maintain unparalleled competitiveness in the legal services market by bringing in advisors and expert consultants, and we have consistently held a leading position in M&A, corporate advisory, and financial services law, never losing ground among the top-tier firms.”

December 31, 2025
The Asia Business Daily reported on the M&A advisory achievements of Lee & Ko, stating, “Lee & Ko, with its 120-member M&A group, has demonstrated strength in cross-border deals and private equity transactions." It further noted, "With the cross-border team led by Ki Wook Kang, and the private equity team led by Daehoon Koo (35th Class of the Judicial Research and Training Institute) at the core, Kyungchun Kim (35th), Sung Min Kim (36th), Tae Jung Kim (37th) have joined to expand the firm's portfolio from large corporate M&As to tech and startup transactions." The report added, “Daehoon Koo has has successfully closed several high-profile deals this year alone, including the acquisition of DIG Airgas by the French company Air Liquide (worth 4.6 trillion won), the sale of LG Chem's Water Solutions business, and the acquisition of Ourhome by Hanwha Hotels & Resorts, all of which have drawn significant market attention."

December 29, 2025
Dong-A Ilbo introduced Lee & Ko’s Management Dispute Team, reporting “Since April of this year, Lee & Ko has expanded its 'Management Control Dispute Team' by appointing two lawyers, Dajoo Jung (31st Judicial Research and Training Institute) and Sejoong Lee, both having experience in the field of M&A and as former judges, as co-team leaders.” The report continued, “Recently, members of the team helped secure an acquittal for Jae-Hyeon Bae, the former head of Kakao’s investment division, and Kakao Corporation in a first-instance ruling related to stock manipulation charges. This highlights one of the strengths of the team, as M&A-specialized lawyers provide advice on corporate management disputes, while former judges can step in at any time to handle related derivative criminal cases.''
 

On December 24, 2025, E-Daily reported that Ms. Hyunsoo Joo of Lee & Ko was awarded the Commendation from the Minister of the Ministry of Trade, Industry and Resources for contributions in responding to import regulations. Ms. Joo has successfully represented the Korean government in countervailing duty investigations initiated by the United States against Korean companies. She has also provided extensive advisory services to Korean companies in relation to foreign trade remedies and import-restrictive measures, including tariff measures imposed under Section 232 of the U.S. Trade Expansion Act on steel and aluminum, safeguard measures adopted by the European Union (EU), as well as newly introduced import regulations based on the U.S. Inflation Reduction Act (IRA) and amendments under the second Trump administration’s tax reform package (OBBBA). Ms. Joo was honored with this commendation in recognition of her contributions to effectively addressing foreign trade barriers and supporting the export activities of Korean companies.

On December 24, 2025, The Korea Economic Daily published an op-ed by Attorney Han Sol Leem of Lee & Ko.

In the article, titled “A Once-in-14-Years Overhaul: Comprehensive Restructuring of the Tax Regime Anticipated Following Mandatory Cancellation of Treasury Shares,” Attorney Leem explained that, upon the implementation of the third amendment to the Korean Commercial Act, the long-standing debate concerning the legal nature of treasury shares—specifically, whether treasury shares should be characterized as “assets” or as “capital”—is expected to be largely resolved. Attorney Leem further observed that the tax framework tied to that legal characterization is likewise expected to undergo a comprehensive restructuring.

Attorney Leem emphasized in particular that existing tax-planning strategies—under which controlling shareholders of unlisted corporations transferred treasury shares to the issuing company and applied a single capital gains tax rate of 27.5 percent in order to avoid the top marginal global/composite income tax rate of 49.5 percent—are expected to become, in practical terms, largely unavailable going forward.

At the same time, Attorney Leem cautioned that neither the proposed amendments to the Korean Commercial Act nor the related amendments to the tax laws have yet been enacted by the National Assembly. Attorney Leem therefore advised that corporations and shareholders should closely monitor legislative developments and, in light of their respective circumstances, proactively formulate appropriate treasury share utilization strategies and related tax planning measures in advance.

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..

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.”

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.” 

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.”