Representation of Hanjin Co., Ltd. in termination of its joint venture relationship established for Hanjin New Port Co.

Lee & Ko advised Hanjin Co., Ltd. in the transaction that relates to the termination of its joint venture relationship with Fellicia, Inc. established for Hanjin New Port, and the transaction was successfully closed on June 13, 2017. This transaction has been recognized as more complicated than other typical share purchase deals because the deal entailed capital reduction of the Hanjin New Port shares held by Fellicia, Inc. for KRW 365 billion, and the procurement of the fund necessary for such capital reduction by way of capital increase of Hanjin Transportation Co., Ltd., Busan Port Authority and Global Maritime Fund.In a situation where the termination of the joint venture relationship entailed complex issues among multiple parties, Lee & Ko provided effective advice to Hanjin Co., Ltd., leading to a successful completion of this transaction.