In order to acquire 100% ownership interest in the Korea Exchange Bank (“KEB”), Hana Financial Group engaged Lee & Ko to assist in the acquisition of remaining shares of KEB that were not previously acquired. The total amount of consideration paid for the acquisition of KEB was approximately KRW 1,890 billion.

The transaction was unprecedented in that it was a share exchange between two listed companies and involved extremely complex regulatory issues, such as the applicability of exceptions set forth in the Financial Holding Companies Act, approval from the Financial Supervisory Service, taxation, disposal of KEB shares owned by Bank of Korea, exercise of appraisal rights by shareholders in each company, treatment of stock options, treatment of treasury stocks during transition period and employee compensation, including a rose bonus.

Lee & Ko successfully completed the transaction on April, 2013, by providing extensive legal advice on over 100 different legal issues.