Recent Developments

Lee & Ko’s Litigation Practice provides strategic representation in a wide range of corporate control disputes. In September 2025, Lee & Ko represented the Vice Chairman (the son of the Group Chairman) in key injunction and related proceedings arising from a corporate control dispute within the Kolmar Group, which is engaged in cosmetics manufacturing and related businesses. Lee & Ko obtained favorable outcomes in major interim relief proceedings, including injunction applications seeking to prohibit alleged unlawful conduct.

The dispute arose after the Chairman commenced an action seeking rescission of a share gift agreement under which he had previously transferred shares of Kolmar Holdings Co., Ltd., the group’s holding company, to the Vice Chairman, alleging breach of a family agreement, and seeking the return of the gifted shares. Related applications were also filed for (i) an injunction prohibiting the disposition of the shares, (ii) an injunction restraining the exercise of voting rights and related acts, and (iii) court approval to convene an extraordinary general meeting of shareholders.

Lee & Ko first secured favorable rulings in various injunction and related applications concerning the extraordinary general meeting of shareholders of Kolmar BNH Co., Ltd., enabling the meeting to proceed as scheduled. As a result, the Vice Chairman’s side obtained a majority on the board of directors of Kolmar BNH Co., Ltd.

Lee & Ko also challenged the injunction prohibiting disposition of the shares that are the subject of the main return-of-shares action, and obtained a revised court order requiring an additional cash security deposit of KRW 5 billion, in addition to the previously required surety bond.

As a result, the related interim disputes have largely been resolved in practice, and the main action for return of shares between the Chairman and the Vice Chairman remains pending.