Lee & Ko advised the lead managers with respect to issuance of USD1,000,000,000 Korea sovereign bonds (foreign exchange stabilization bonds) due 2027. This transaction was successfully consummated in January 2017, and is particularly noteworthy for its record-low interest rate of 2.75% per annum. The lead managers consisted of seven financial institutions including Citigroup Global Markets Inc., Goldman Sachs International, The Hongkong and Shanghai Banking Corporation Limited, J.P. Morgan Securities LLC, The Korea Development Bank, Merrill Lynch, Pierce, Fenner & Smith Incorporated, and Samsung Securities Co., Ltd. At Lee & Ko, leading lawyers including Hyunjoo OH, Sun Young YANG and Dong A Jung from the capital markets team and Sang Hoon KIM from the tax team participated in this transaction. This transaction, together with Lee & Ko’s participation in the successful issuance of another Korea sovereign bonds in June 2014, underscores Lee & Ko’s expertise in the capital markets area.