Lee & Ko has timely and effectively provided legal services for the joint venture between LS Industrial Systems Co., Ltd. and Infineon Technologies AG. The two companies held a ceremony on June 9, 2009, in Seoul, to celebrate the conclusion of the joint venture agreement, under which the parties agreed to establish a Korean joint venture company to be named “LS Power Semitech” (the “JVC”). The two companies have spent significant resources for this joint venture, and negotiation meetings were held in Germany, Korea and Singapore. There were many legal issues for the transaction, including antitrust issues which led to the required filings under the relevant antitrust laws with respect to Europe, China, the U. S. Japan and Korea.
Infineon Technologies AG’s capital contribution to the JVC will be made in-kind, with industrial rights and capital goods. The joint venture represents the biggest in-kind capital contribution by a foreign company among the recent joint venture deals.