Lee & Ko is a member of the ISDA and is keenly aware of the latest developments in the global and domestic derivatives markets. We regularly consult with the ISDA on the development of derivatives regulations in Korea to prepare ourselves for new regulatory challenges.

Pursuant to the enactment of the Financial Investment Services and Capital Markets Act, the derivatives market in Korea is becoming increasingly diverse and specialized. In light of this trend, clients are more than ever looking to the derivatives specialists at Lee & Ko to provide legal advice and assistance on all aspects of derivative transaction, such as (i) structuring derivative products, (ii) evaluating the legality of such products and advising on possible compliance solutions, (iii) analyzing relevant laws and regulations, (iv) preparing definitive documentation for derivatives transactions and (v) obtaining regulatory approvals.

Lee & Ko has represented clients in high-profile legal proceedings involving derivative transactions. A team of Lee & Ko litigators and derivative specialists recently won, on behalf of major Korean financial institutions, the first major ruling in the litigation involving “knock-in, knock-out” currency derivatives (KIKO). During the recent global financial crisis, Lee & Ko had the privilege of representing the Korean government in its bilateral currency swap arrangements with each of the U.S., China and Japan and its participation in the Chaing Mai Initiative (multilateral currency swap arrangement among ASEAN+3 nations), which stabilized the Korean financial market.