In June 2015, Hyundai Marine & Fire Insurance Co., Ltd. successfully purchased the entire business of Hyundai Hicar Direct Insurance Co., Ltd. The acquisition is a leading case of the business transfer between insurance companies in Korea. The deal structure was complicated as it involved the interpretation of the Insurance Business Act and the permission of Financial Services Commission. Lee & Ko served as the transaction counsel and provided a comprehensive review of the potential legal issues and proposed the most effective transactional structure for the deal.