Lee & Ko Appointed as Legal Counsel in Connection with First Two Applications for Listings of Life Insurance Companies on the Korea Exchange

Last year, the Korea Exchange (KRX) rescinded its long-standing rule against the public listing of life insurance companies on the KRX.  Pursuant to this change, Lee & Ko has been appointed to act as legal counsel to Tongyang Life Insurance Co., Ltd., which is the first life insurance company to seek to have its shares listed on the KRX.  The listing/IPO process for Tongyang is still in progress and is expected to be completed in the near future.  Additionally, Lee & Ko has been appointed as legal counsel to the underwriters (Woori Securities and Mirae Asset Securities) for the application of Kumho Life Insurance Co., Ltd., which is the second life insurance company to seek to carry out a KRX listing/IPO following the above-mentioned change in the KRX rules.  The Kumho listing application is also still in progress.