Having been involved in advising clients on virtually every aspect of aircraft, ship financing and equipment financing, our Lease and Transportation Finance Practice Group is particularly well-respected in the Korean legal market. Most sophisticated companies actively engaged in business transactions in these areas are among Lee & Ko’s clients and look to our Aircraft Finance Practice Group & Ship Finance Practice Group for expert legal advice that can only be offered by lawyers equipped with years of extensive, high-level experience and focused training. Our attorneys are capable of assisting clients in resolving a comprehensive range of legal issues associated with lease finance, acquisition, and disposal structures.

Lee & Ko’s Ship Finance Practice Group has represented most major shipping companies, commercial banks, government-owned banks in Korea and most of the notable foreign lenders participating in the ship financing market, including such prominent financial institutions as Société Générale, BNP Paribas, Calyon, DVB Bank, ING, DnB Nor, Natixis. Clients also include most of the local banks that are actively involved in ship financing transactions. Lee & Ko’s Aircraft Finance Practice Group has acted as legal advisors in connection with all types of transactions relating to Korea Airline’s fleet of aircraft, including transactions vis-a-vis Boeing and Airbus, along with a large number of other counterparties. The Group has also acted as legal advisors to Asiana Airlines, and has developed expertise in the area of USEXIM export financing in relation to Boeing transactions and ECA financing in relation to Airbus transactions.

Major Cases

Advised Korea Gas Corporation, Hanjin Shipping, Hyundai Merchant Marine, SK Shipping and Korea Line in connection with financing of four (4) LNG vessels, the first financing transaction for acquisition of LNG vessels in Korea
Advised on development of ship financing structures available to merchant banks and lease companies
Advised in connection with container financing transactions involving US Tax Trust and the Ireland special economic zone
Advised in connection with financing of four (4) Boeing 777-400 aircraft by using a foreign sales corporation mechanism
Advisedon aircraft financing transactions involving the Ireland special economic zone
Advised Hanjin Shipping in connection with ABCP transactions using container account receivables
Advised Hyundai Merchant Marine in connection with the sale of car carrier division
Advised in connection with enactment and revision of The Ship Investment Company Act of Korea
Advised Société Générale, the Korea Development Bank and DVB Bank as senior lenders and a shipping fund established by KOMARF, the manager of shipping funds first established in Korea, as subordinated lender in connection with financing by Hyundai Merchant Marine of a capsize newbuilding bulk carrier
Advised Nordea Bank and the Export-Import Bank of Korea as senior lenders and a shipping fund established by Korea Ship Finance, in connection with financing by Korea Line of a capsize new building bulk carrier
Advised Citibank, the Korea Development Bank, and other syndicated lenders in connection with financing of four (4) LNG vessels, involving joint venture companies established by Korea Gas Corporation and shipping companies
Advisedthe Korea Development Bank, the Export-Import Bank of Korea and National Agricultural Cooperative Federation in connection with refund guarantee facilities for Hanjin Heavy Industries Philippines
Leasing of one (1) B777-200ER aircraft financed by Société Générale
Sale and leaseback of one (1) B747-400F aircraft financed by Calyon
Sale & leaseback of five (5) Boeing 747-400 aircraft financed by Deutsche Bank & HSH Nord Bank
Advised lenders and investment trusts in respect of various sale and leaseback transactions under ”Let’s Together Shipping Fund Program” arranged by the Korea Development Bank
Advised various international and domestic banking institutions in respect of the refinancing of nine (9) LNG vessels