April 26, 2020 – Financial News recently interviewed Lee & Ko’s attorney, Hyung Sub Lim, regarding the spike in bankruptcy filings for corporations and individuals as a result of COVID-19.
In particular, COVID-19 caused detrimental impact on the retail industry. Lim said, “We are consulting increasingly more number of companies on COVID-19-related issues, and in particular, the decrease in customer traffic to duty-free shops and department stores has created a crisis for small and medium-sized companies that deliver goods to such stores.” “Consumers are less willing to spend money on goods other than daily essentials these days”, Lim added.
Lim is a partner in the Litigation & Arbitration Group and North Korea Advisory Group. Since joining Lee & Ko in 2007, Lim has accumulated extensive experience and expertise in complex commercial litigation and North Korea affairs.