Korea Development Bank and Korea Asset Management Corporation made the decision to sell 50.37% of the shares of Daewoo Shipping & Marine Engineering Co., Ltd. owned by them and announced in a daily newspaper (on August 22, 2008) that the sale would be made through a public bidding process. Lee & Ko was selected to act as legal counsel for Korea Development Bank and Korea Asset Management Corporation. The selection of Lee & Ko as the sellers’ legal counsel was a result of the firm’s experience and expertise in industries related to the shipbuilding and marine facilities. Daewoo Shipping & Marine Engineering Co., Ltd. has the number one cumulative production record for building LNG ships and semi-submersible drilling rigs and is one of the most reputable shipping companies in the world. The sale of Daewoo Shipping & Marine Engineering Co., Ltd. is expected to be the largest M&A transaction in Korean history.