Recent Developments

On January 2, 2025, Edaily reported an interview with Sang-Gon Kim, Lee & Ko’s managing partner. In his interview, Mr. Kim stated that Lee & Ko ”achieved meaningful results in the recession through ‘homogenization’ of the firm’s entire expertise, such as advice and litigation” and that it aims to “become an open law firm that can keep up with market changes under the perception that ‘Lee & Ko is always present’ where there is a client demand”. 

On January 1, 2025, the Korea Economic Daily reported Lee & Ko’s 2024 performance in detail. The Korea Economic Daily reported that “Lee & Ko surpassed 400 billion Won in annual sales for the first time as a domestic law firm” and that its sales “recorded a 10% year-on-year increase on the strength of restructuring of conglomerates and acceptance of major criminal cases amid concerns over a slowdown in the growth of the law firm industry”. Furthermore, the Korea Economic Daily stated that “Lee & Ko defended its performance through advice on restructuring of conglomerates even though the M&A market experienced a general downturn last year”, and that “the firm not only achieved remarkable results in the field of criminal litigation, but also successfully concluded criminal cases involving major entrepreneurs, including former Hanssem chairman Yang-Ha Choi’s violation of the Monopoly Regulation and Fair Trade Act and SPC Group’s chairman Young-In Hur’s case of malpractice”. 

On December 31, 2024, Safety News reported on the participation of Injae SHIN, Senior Advisor at Lee & Ko, in the Discussion Forum on Enhancing the Process Safety Management (PSM) System in the Chemical Industry.

The forum, jointly organized by The Korean Society of Safety and the Korea Enterprises Federation, highlighted key issues surrounding industrial safety practices in the chemical sector. During the forum, Senior Advisor Injae SHIN pointed out that current efforts to prevent major industrial accidents in the chemical industry have largely been led by the government or governmental agencies, with limited roles played by private organizations such as regional PSM councils.

He emphasized the necessity of establishing a private governance framework to enhance communication between the government and workplaces and to strengthen autonomous PSM activities by chemical companies in line with the government's paradigm shift towards a self-regulatory prevention system.

December 30, 2024
An interview with Attorney Kyung Gyoon Park of Lee & Ko was published on News Tomato. Kyung Gyoon Park, who has been active in the field of mergers and acquisitions (M&A) for 12 years, stated, "It is important to create substantial value through M&A work, going beyond simply providing legal services. The key to M&A advisory service is not simply about winning or losing, but about fostering a negotiating environment where all parties can achieve a win-win outcome." He also mentioned, "My aim is to fully understand the client's needs and offer the most optimal solution."
 

On December 19, 2024, The Bell reported on the leadership strategies of Lee & Ko. The article highlighted the ongoing leadership of Managing Partner Sang Gon Kim, noting, “Over the past two years, Mr. Kim has not only maintained the firm's capabilities in M&A and financial investment advisory, but also significantly bolstered the expertise of the litigation and regulatory response teams, achieving an overall improvement in service quality. He also established specialized teams, such as the STO and Aerospace teams, to address new market demands and drive organizational growth.” The article further stated, "Two years ago, Managing Partner Kim rolled out a ‘rebalancing’ strategy in a bid to drive the firm’s growth, substantially reinforcing its litigation team by bringing in numerous former judges last year." It added, "With improved capabilities across practice areas driving revenue growth, Mr. Kim's rebalancing strategy is considered to have been largely successful."

On December 18, 2024, JoongAng Ilbo reported that Lee & Ko attorney Tong Keun Seol was selected as the '2024 Best Lawyer' in the field of Compliance Management and ESG. The publication noted, "Attorney Seol is highly knowledgeable in environmental and social issues and excels in providing systematic and comprehensive advice to companies on ESG strategies, effectively addressing all aspects of E (Environment), S (Social), and G (Governance)."

December 12, 2024
The performance of the Corporate Practice Group of Lee & Ko was reported by Legal Times in “Korea’s Corporate Legal Market Review of 2024.” Legal Times stated, "According to Bloomberg's cumulative 3rd quarter M&A league table, Lee & Ko topped the list in terms of deal value with a market share of 31.1%, having advised on 71 transactions worth $30.976 billion for the year to date, surpassing Kim & Chang. The results of full-year league table, including the 4th quarter, are awaited.” The report also highlighted that Lee & Ko’s M&A team consistently provides efficient and accurate advisory services, offering creative solutions to even the most complex and challenging requests from clients.
 

A column by Lee & Ko partner Jeong-Ho Sun was published in the Korean Economic Daily. In the column “Global Survival Strategy…Companies Applying for Compliance Program Doubles Compared to Previous Year”, Mr. Sun explained, “Companies that seek to implement a new antitrust compliance program require sufficient time for its implementation and should approach it as a mid-term to long-term project,” adding that, “From the outset, a good approach is to consult with an expert to design and implement the introduction and operation of an antitrust compliance program.” 

On 10 December 2024, MoneyToday reported that Attorneys Ok-Hyun Ma and Joohyun Park were honored with the Advisory Award at the 7th Korea Legal Awards. The recognition was based on their work in a tax case involving the domestic pharmaceutical company Celltrion, specifically related to the production and sale of its products. The attorneys were praised for their significant contribution to taxpayer protection, demonstrating exceptional legal reasoning in addressing novel and complex issues with limited precedent.

On December 9, 2024, Legal Times unveiled its list of the most preferred law firms to work with, based on a satisfaction survey of in-house lawyers from domestic and international companies in the legal services industry. This year, Lee & Ko took the top position, sharing the honor with Kim & Chang. Legal Times noted that “‘professionalism’ and ‘exceptional services’ were common key factors behind their choice for these two firms, but in specific, Lee & Ko’s strong ranking was attributed to its ability to ‘provide tailored solutions to meet specific company needs', 'offer insightful advice from diverse perspectives', 'uphold a client-centric approach while striving for continuous changes for improvement', and 'respond promptly to client requests'.”

On December 5, 2024, Korea Herald Business highlighted the wholehearted participation of Lee & Ko in this year’s Briquettes of Love Campaign. Lee & Ko’s Public Service Committee coordinated volunteer efforts to deliver coal briquettes to those most vulnerable in Guryong Village, Gangnam-gu, Seoul, to provide much-needed warmth in the winter months and further donated 5,000 coal briquettes to support the “Briquettes Sharing Movement for a Warm Korean Peninsula.” The Committee has been an active participant in this campaign since 2011, contributing a total of 69,230 briquettes over the past 14 years.

On December 1, 2024, the Korea Economic Daily reported on a notable victory by the Employment & Labor Team of Lee & Ko, regarding the complex issue of whether an operating company is obligated to directly employ toll collectors, who were not direct employees but subcontracted workers. The article stated, "The 17th Civil Division of the Suwon District Court fully dismissed the claims of 22 former toll collectors from a private highway operator (Company A) in a labor-related lawsuit filed against Company A on the 2nd of last month." The ruling is significant as it marks the first court decision affirming that private highway operators have no obligation to directly employ toll collectors affiliated with subcontractors. This outcome diverges sharply from a Supreme Court ruling in April of last year and is expected to set an important precedent for disputes involving worker dispatch relationships.

In connection with the case, Jae-in Noh, an attorney from Lee & Ko’s Employment & Labor Team who represented Company A, commented, "In dispatch cases, it was crucial to demonstrate that the “substance” of the contractual relationship, as evidenced by emails, text messages, and KakaoTalk messages exchanged between the parties, takes precedence over “formalities” such as contracts and task orders.