[Chosun Biz] [Law Firm Strategy] (104) "Eastar Jet, Ordered to Pay Compensation of KRW 23 billion to Jeju Air"... Lee & Ko Successfully Advised in M&A Litigation, Winning “Uncommon Double Compensation Judgment”

On March 8, 2023, Chosun Biz reported on a legal victory achieved by Lee & Ko. Lee & Ko won on behalf of Jeju Air in a suit for damages in an amount of KRW 23 billion, filed against Eastar Jet and others for their failure to close an M&A transaction. Chosun Biz said, "The KRW 23 billion is double the amount of the security deposit (KRW 11.5 billion) initially paid to Eastar Jet by Jeju Air," emphasizing, "Lee & Ko secured the court’s order to pay double compensation, an uncommon remedy in M&A-related lawsuits”. This victory has been led by, to name a few, Jaeheon Park, Yongjoon Yoon and Eunah Kim of Lee & Ko.