Initial Public Offerings in Korea

We provide legal advice to issuers and underwriters in connection with Korean companies’ initial public offerings to list their shares on the Korea Exchange, including IPOs with an international tranche to make offers to overseas investors.  Our clients include issuers ranging from large financial institutions and industrial companies to start-up companies in the IT and bio-related industries.  We also advise underwriters in IPOs, including global investment banking companies and Korean securities firms.  We also advise issuers and underwriters in connection with the listing of international companies’ securities (in the form of depositary shares) on the Korea Exchange.

Foreign Stock Exchange Listings

We advise Korean clients for the listing of their equity securities on overseas stock exchanges in the form of shares or depositary shares representing the underlying shares and in connection with initial public offerings or other forms of offerings.  We also provide advice on concurrent dual-listings on both the Korea Exchange (in the form of shares) and an overseas stock exchange (in the form of depositary shares representing underlying shares).  We worked on all of the four concurrent dual-listings of Korean issuers to date.

Block Trades and Derivatives

We advise a range of clients in connection with their secondary market transactions, including sales or purchases of shares by way of block trades and their financing transactions involving share pledges.  We also provide legal advice relating to various structured finance products, including transactions involving complex financial derivatives.

Other Types of Securities Offerings in Korea and Overseas

We advise a variety of clients in cross-border offerings of securities, both in Korea and overseas and a wide range of products for equity securities, debt securities and equity-linked securities, including common and preferred shares, other mezzanine-type securities, Yankee bonds, Samurai bonds, global and euro medium term notes, convertible bonds, exchangeable bonds and bonds with warrants.  We also regularly advise on offerings of Arirang bonds (denominated in Korean Won) and Kimchi bonds (denominated in currencies other than Korean Won).  Our assistance in these transactions includes other related legal services as well.  In cross-border transactions, for example, we regularly assist our clients on tax structuring issues tailored to specific client needs and goals.

We advise publicly listed companies and private companies in a variety of sectors, including financial services, electronics, automobiles, telecommunications, consumer goods, biomedical products, oil refining, distribution, shipping, steelmaking, and energy, as well as government agencies and government-invested companies.  We also advise Korean and foreign investment banks and institutional investors.

Listing on Foreign Stock Exchanges

• Concurrent Dual Listing: We worked on all four Korean companies’ concurrent dual listings of common shares on the Korea Exchange (“KRX”) and depositary shares (representing underlying common shares) (“DRs”) on an offshore exchange to date: LG Display (formerly LG Philips LCD), Kumho Tire, Lotte Shopping, and the Macquarie Korea Infrastructure Fund
• Listing of common shares on NYSE: US parent of Coupang
• Listing of DRs on NYSE: Posco, KT, and Kookmin Bank
• Listing of DRs on NASDAQ: DoubleDown Interative (DoubleU Games), Hanaro Telecom, Gravity, and Widerthan.com 
• Listing of DRs on LSE: Samsung Electronics, Samsung Corporation, Hyundai Motor Corporation, KT&G
• Listing of DRs on TSE: Posco, etc.
• Listing of DRs on the SGX: Kakao, Doosan Infracore, and Hanwha Chemical Corporation

Domestic IPOs on Korea Exchange

• Listing on KRX (including IPOs with international tranche): LG Energy Solution, Krafton, Kakaopay, Hyundai Heavy Industries, K Car, HK Inno.N, Big Hit(HYBE), Kendall Square REIT, Hanwha Systems, Celltrion, ING life, Netmarble, Doosan Bobcat, Innocean, Mirae Asset Life Insurance, Samsung SDS, Cheil Industries, Hyundai Rotem, Samsung Card, STX Pan Ocean, On-Media, Hyundai HCN, Hi-Mart, CJ Hello Vision, and KAI

Listing on Korea Exchange by Foreign Companies

• Korea Vietnam 15-1 Oil Overseas Resources Development Fund (Vietnam), SBI Mortgage (Japan) and Shenglong PV-TECH Investment (China)

Offshore Offering of Equity-Linked Securities 

• CBs: Naver Line, LG Philips LCD, LG Electronics. Curocom, ASJ, OsungLST(OsungAM), Hanjin Shipping, GS E&C, PharmGen Science, GeumVit, and Naver
• EBs: KT&G, KDIC, Hyundai Motor Company, KT, INI Steel, SK Telecom, Kakao, Posco, and Lotte Shopping.
• BWs: New Tech Man

Offshore Offering of Debt Securities 

• Yankee Bonds: Samsung Electronics, Korea Development Bank, Korea Exchange Bank, GS-Caltex, KT, and Daegu City of Korea
• Samurai Bonds: Korea Development Bank, Kookmin Bank, Industrial Bank of Korea, Posco, Incheon City of Korea, Daegu City of Korea, and KT
• Global/Euro Bonds, MTNs: Korea East-West Company, Republic of Korea, Korea Development Bank, The Export-Import Bank of Korea, Korea Highway Corporation, LG Electronics, KEPCO, Woori Bank, Kookmin Bank, Hana Bank, NongHyup Bank, KoFC, KOGAS, KT, KOMIPO, Posco, Hyundai Capital Services, Hyundai Motor Company, and Yuanta Securities
• Kangaroo Bonds: Industrial Bank of Korea, Korea Development Bank, and Woori Bank
• Foreign Exchange Stabilization Bonds: Republic of Korea
• Dimsum Bonds: IBK Securities, Korea Development Bank, and The Export-Import Bank of Korea
• Panda Bonds: Ministry of Strategy and Finance

Offering of Debt Securities in Korea by Foreign Companies 

• Arirang Bonds (denominated in Korean Won): Asia Development Bank, International Bank for Reconstruction and Development, European Bank for Reconstruction and Development, Singapore Power International, Nomura Holdings(Singapore Corporation), and Eland(Singapore Corporation)
  Kimchi Bonds (denominated in currencies other than Korean Won): Bear Stearns, Olympus Capital, and Citic Securities
   

Other Hybrid or Structured Securities 

• Sub-bond (including Hybrid Bond): Hanwha Life, Korea Exchange Bank, Hana Bank, Kookmin Bank, Woori Bank, Standard Chartered First Bank, CGM Korea, KOEN, CJ CheilJedang (Indonesian Corporation), and Hankook Capital
• Redeemable Preferred Shares/Redeemable Convertible Preferred Shares: Shinhan Financial Holding Company.
• Capital Securities: Doosan Infracore, Korean Re, Hyundai Heavy Industries, KOGAS, Posco, Shinsegae, Korean Air, and Doosan Heavy Industries & Construction

Block Trades

• Samsung SDI, Samsung SDS, OCI, Asiana Airlines, SK Telecom, Hyundai Motor Company, Hyundai Heavy Industries, Mipo Shipbuilding, Kumho Tire, and Doosan