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Expertise

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Through our team specialized in Southeast Asia, Lee & Ko has involved in major Korean corporate clients’ entry in Vietnamese and Southeast Asian market and, in response to particularly high demand and expectation for excellent legal services, Lee & Ko obtained the permission for incorporation on 24 December 2015 and the business license on 14 January 2016 from the Vietnam Ministry of Justice, and accordingly opened two offices in Vietnam, beginning with the opening of our Ho Chi Minh City office in January, 2016 followed by the opening of our Hanoi office in December, 2016.

With the opening of these two offices and by arranging Vietnamese lawyers and experts in Southeast Asian laws, Lee & Ko established a foundation for coordinating and providing appropriate legal services required by Korean clients for entry and market expansion in the whole Southeast Asia as well as Vietnam using Vietnam as the base.

We have provided prompt and accurate legal advices on various fields in Vietnam and Southeast Asia: direct investment; M&A; banks and financial institutions’ entry to new market; construction/ real estate development and SOC; and taxation, etc. In addition to legal services for the initial stage of business such as structure of new market entry and establishment of strategy, by analyzing the demand for legal services in various industries and at each stage of business such as legal issues faced in operating business in local market and the sale of asset, we also have delivered the highest level of appropriate legal services.

Baek Woong Ryol, Esq., the leader of Vietnam Practice Group, has experiences that spans all aspects of corporate law and corporate transactions involving Vietnam, Indonesia and other countries in Southeast Asia and provided successful legal advices for more than 100 Korean clients in their advancement to Vietnamese and Southeast Asian market. He is the current standing representative of Vietnam office and directs Lee & Ko’s practice in Vietnam and Southeast Asia.

Since joining Lee & Ko in 1999, Sung Mee Hong, Esq. - the head of Hanoi office - has made significant achievements in M&A, foreign investment, overseas investment, and corporate legal affairs. In particular, she has outstanding career in overseas investment in Southeast Asian countries including Vietnam, Cambodia, Philippines, Indonesia, Thailand, etc. and, based on her extensive understanding of finance-related issues in general such as bank restructuring in Vietnam, treatment of NPLs, etc., is actively engaged as a legal advisor to a number of clients entered Vietnamese market, including financial institutions.

Hee Woong Kim, Esq.- who is in charge of Vietnam related affairs in Seoul – is a Korea-licensed lawyer with wide experience in practice related to Vietnam and Southeast Asia, successfully leading many foreign investment projects including Vietnam related projects. Pursuing the one-stop service in the area of legal advisory, Mr. Kim provides the optimum legal advice based on his experience and expertise in laws of Vietnam and Southeast Asia as a Korea-licensed lawyer and make proper utilization and arrangement of human resources in Vietnam and Seoul offices for maximization of business efficiency.

Recruiting Vietnam licensed lawyers with extensive experience in legal services for Korean clients wishing to enter and make investment in Vietnam market; we provide the faster and more accurate advice on local laws. Tran Thanh Binh, Esq. in Ho Chi Minh office and Nguyen Ngoc Sang, Esq. in Hanoi office are both senior Vietnam licensed lawyers in each office and can be said to be Vietnamese experts who are best customized to Korean clients with many years of experience in Korean law firms. They have delivered legal services for Korean clients in Vietnam and other Southeast Asian countries on overseas investment, real estate, financing, taxation, M&A, HR and labor, etc. Further, other Vietnamese lawyers also participate in establishing organic business system with Korean lawyers based on their experience with foreign clients for years in leading law firms in Vietnam including VILAF, Vietnam’s largest law firm.

Lee & Ko’s Vietnam Practice Group is proud of its scale and capability – six Korean lawyers and ten Vietnamese law experts stationing in Ho Chi Minh and Hanoi offices - overwhelming other Korean law firms’ overseas branches and, as mentioned above, the individual member’s competency is outstanding as well.

Consisting of experts specialized in Vietnam and Southeast Asian practice, Lee & Ko’s Vietnam Practice Group will continue to satisfy Korean clients’ demand for one-stop legal service in Vietnam and Southeast Asia countries and provide reliable and accurate but fast legal services, based on close cooperation with over 30 specialized teams of Lee & Ko.
Expertise
M&A

According to the Vietnamese investment related laws and regulations, the terms and conditions and restrictions imposed on foreign investor's acquisition of equity shares are subject to business type and nature of the target company and the laws and regulations widely recognizes the discretion of supervisory authorities in issuing approval and permission. Lee & Ko's Vietnam Practice Group provides one-stop service for the whole process of M&A in Vietnam from: suggestion of the optimum structure of acquisition considering the Vietnamese investment and corporate laws and regulations; performance of legal due diligence of the target company and preparation of report thereon; negotiation of acquisition transaction and preparation of documents; and verification of closing terms and conditions, to follow-up administrative procedures. Especially, based on accumulated experience in the area, Lee & Ko's Vietnam Practice Group not only delivers simple review on relevant laws and regulations, but also diagnoses in advance various risks that may occur in the actual transaction in Vietnam, so that we can provide differentiated legal advice to protect our clients from unexpected delay of procedures.


Finance

The area of finance is one of the fastest growing sectors in Vietnam. As a result of acceleration of Korean financial institutions' entry to Vietnamese market, Lee & Ko's Vietnam Practice Group has continuously analyzed the trends in the rapidly changing Vietnamese financial market - Vietnamese NPL market, bank restructuring, etc. - and provides specialized advices required by Korean financial institutions in Vietnam. While Lee & Ko's Vietnam Practice Group maintains amicable business relationship with local financial supervisory authorities such as the State Bank of Vietnam, the State Securities Commission, the Vietnam Asset Management Company, etc., we once successfully provided a Korean client who invested in convertible bonds of a Vietnamese listed company with legal advice and follow-up services; we have showed excellent performances in Vietnamese finance area.


Real Estate Project 

The business of real estate project is one of the areas of greatest interest to investors in Vietnam, with an average annual growth of 6 to 7% over 10 years. Although foreign investors cannot acquire real estate assets directly due to the Vietnamese legislation, they are allowed to indirectly acquire real estate assets by establishing or acquiring a local corporation for real estate project. For clients, Lee & Ko's Vietnam Practice Group provides legal advices to obtain the results they need, such as acquiring real estate assets, reviewing the acquisition structure of real estate assets required for project, and proceeding the project approval procedures, etc.


SOC

With the increase of foreign investment in Vietnam, the demand for SOC is also increasing rapidly. Lee & Ko's Vietnam Practice Group delivers legal advices for carrying out SOC projects, for example: structure review, administrative procedures, policy decision of competent government authorities, approval and permission related to acquisition, etc., for realization of the project in various forms - sole venture, joint venture, PPP investment, etc. -as desired by the client for developing various types of infrastructures required in Vietnam, including urban development, roads, water supply and sewerage, renewable power plants, etc.


Establishment of Local Corporation

Lee & Ko's Vietnam Practice Group also provides differentiated services for the establishment of local foreign investment companies. Through a thorough preliminary review of business areas that have not had much foreign investment such as medical, education and entertainment fields as well as the traditional areas for foreign investment such as manufacturing, distribution, and service, etc., we propose the optimum type of local corporation for your business goal, and quickly and efficiently carry out all necessary procedures, to your convenience, for the establishment of a local corporation from preparing documents required for incorporation to public announcement after completion of corporation.


Dispute Resolution

Lee & Ko's Vietnam Practice Group represents clients in Vietnam International Arbitration Center as well as is engaged in negotiations for dispute resolution in Vietnam.
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Major Cases
Direct Investment
  • Advised a large Korean corporate client on entering TV cable business in Vietnam 
  • Advised a large Korean corporate client on entering distribution and franchise business in Vietnam
  • Advised a large Korean corporate client on establishing a general trading company in Vietnam
  • Advised a large Korean corporate client on entering steel business in Vietnam
  • Advised a large Korean corporate client on entering duty free shop business in Vietnam
  • Advised a large Korean corporate client on investing in industrial complex in Vietnam
  • Provided a large Korean corporate client with legal advice regarding agreement to establish a joint venture for distribution in Vietnam
  • Provided a US corporate client with review and legal advice on potential of investment immigration business in Vietnam 
  • Advised Vietnamese subsidiary of a Korean distribution company on establishing a branch office in Ho Chi Minh City
  • Advised more than 100 clients on establishing foreign investment company, representative office and project office, etc. 

M&A
  • Advised a large Korean corporate client on acquiring equity shares in and operating a Vietnamese listed company 
  • Advised a large Korean TV shopping company on acquiring equity shares in a Vietnamese distribution company
  • Advised a Korean investment company on acquiring equity shares in a Vietnamese listed company
  • Advised a large Korean corporate client on acquiring a Vietnamese real estate development company in Ho Chi Minh City
  • Advised a large Korean corporate client on acquiring equity shares in large department store and office building in Ho Chi Minh City
  • Advised a large Korean corporate client on acquiring equity shares in a high-end hotel in Hanoi 
  • Advised a Korean securities company on acquiring equity shares in a Vietnamese securities company
  • Advised a large Korean construction company on acquiring mega commercial and residential complex development project in Vietnam
  • Performed legal due diligence for and advised a Korean insurance company on acquiring equity shares in a Vietnamese insurance company
  • Advised a Korean investment company on acquiring equity shares in a Vietnamese ready-mixed concrete company
  • Advised a large Korean film company on acquiring equity shares in a Vietnamese film company
  • Provided a large Korean steel company with legal advice on acquisition of Vietnamese foreign investment company engaging in steel processing and on conversion procedures of the target company to a subsidiary of the client
  • Advised Vietnamese subsidiary of a large Korean company on selling its equity shares
  • Advised a large Korean corporate client on selling Hanoi Landmark Tower
  • Advised a large Korean corporate client on merger between its 3 Vietnamese subsidiaries
  • Advised a Korean logistics company on acquiring equity shares in a Vietnamese logistics company
  • Advised a Korean corporate client on acquiring factory and factory site from a Vietnamese company
  • Provided a Korean corporate client with legal advice on acquisition of equity shares in a Vietnamese joint venture and on conversion of the joint venture into a one-man limited liabilities company
  • Performed legal due diligence for and provided legal advice on Vietnamese subsidiary of the client’s target company engaging in distribution business to a large Korean corporate client 
  • Advised an El Salvador corporate client in acquiring equity shares in and goodwill of a Vietnamese subsidiary of a Korean company
  • Advised a Korean corporate client on acquiring equity shares in a Vietnamese film production and distribution company

Banking and Finance
  • Advised a Korean bank on establishing a bank in Vietnam
  • Performed legal due diligence for and advised a Korean bank on acquiring a Vietnamese foreign-affiliated consumer financing company
  • Advised Korean financial institutions on project financing for real estate development in Vietnam
  • Advised Vietnamese subsidiary of a large Korean company on refinancing
  • Advised Vietnamese subsidiary of a large Korean company on borrowing foreign currency from abroad
  • Advised a Korean insurance company on establishing and operating a Vietnamese branch
  • Advised a Korean credit card company on establishing an affiliated company in Vietnam
  • Advised a large Korean corporate client on transmitting dividends from investment in Vietnam companies to abroad
  • Advised a Korean corporate client on issuing convertible bonds for a Vietnamese joint venture for manufacturing bio heavy oil semi-products and prepared and reviewed the loan agreement
  • Advised a Korean corporate client on project financing for development of wind farm in Vietnam

Construction, Real Estate Development and SOC
  • Advised a Korean government-owned company on development project of oil stockpiling facility in Dung Quat, Vietnam
  • Provided a Korean construction company with legal advice on joint venture agreement for roadwork in Vietnam and reviewed the agreement 
  • Advised a large Korean construction company on developing and operating toll expressway in Vietnam
  • Advised a Korean real estate development company on development of golf course in Vietnam
  • Provided a Korean construction company with legal advice on preparation of feasibility analysis report on Hanoi railway project
  • Advised a large Korean construction company on railway BOT project in Vietnam
  • Advised a large Korean construction company on selling and leasing shopping center and apartment
  • Advised a large Korean construction company on development of mega commercial and residential complex and on consignment management agreement between a global hotel chain 
  • Advised a Korean securities company and the developer on golf course and resort development project through establishment of real estate fund 
  • Advised a large Korean construction company on performance management of light-rail development agreement
  • Advised a Korean construction company on development project of terminal sewage treatment facility in Hanoi
  • Advised a large Korean corporate client on development project of coal thermal power plant in Vietnam
  • Advised a Korean bank on development and operation project of landfill in Ho Chi Minh City
  • Provided a Korean corporate client with legal advice by studying cogeneration business in Vietnam
  • Advised a large Korean construction company on BLT project for water treatment facility in Ho Chi Minh City

Taxation
  • Advised a large Korean corporate client on Vietnamese transfer pricing taxation law
  • Advised a large Korean shipping company on tax refund under the double taxation treaty between Korea and Vietnam
  • Advised Vietnamese subsidiary of a Korean IT company on incentives for high technology businesses
  • Advised a Korean government-affiliated company on tax favor applied to venture incubation complex in Vietnam

Dispute Resolution
  • Advised a large Korean construction company on dispute over expressway development in Vietnam
  • Advised a Korean securities company on Vietnam civil lawsuit regarding loans
  • Advised Vietnamese subsidiary of a large Korean construction company on dispute over lease
  • Advised a Korean franchiser on arbitration of damages claim due to violation of franchise agreement in Vietnam
  • Advised a Korean corporate client on termination of license agreement with Vietnamese partner for production and distribution
  • Advised a Korean corporate client on claim for return of advances paid pursuant to sale and purchase agreement entered into with a Vietnamese supplier 
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