Shin & Kim
Asia-Pacific Guide 2024
About
Managing Partner: Jong-Han Oh
Number of fee earners: 800+
Number of lawyers: 600+
Firm Overview:
Shin & Kim is a top-tier law firm in Korea with a stellar record of being the trusted adviser to the world’s leading Korean and multinational corporations, financial institutions and government entities on business critical and ground-breaking mandates. The firm is one of the largest with over 800 professionals (including Korean and foreign attorneys, patent attorneys, tax attorneys, certified public accountants, customs specialists, and other advisors). These professionals work in close-knit teams to deliver client-focussed results through its offices in Korea and Asia, and together through its unrivalled network of leading local firms around the world. Shin & Kim’s clients rely on the firm’s commitment to quality and pursuit of the client’s commercial objectives.
Main Areas of Practice:
Antitrust & Competition:
Shin & Kim has the largest number of professionals, who are dedicated to antitrust & competition related matters. The firm has represented many private companies, both Korean and foreign, in their dealings with the Korean Fair Trade Commission, whether in the context of notification of M&A transactions or with investigations by the KFTC for unfair trade practices. The team is led by both highly experienced lawyers and former KFTC officials.
Banking, Securities, Finance & Capital Markets:
Shin & Kim advise on all areas of banking, corporate finance, capital markets, and derivatives. The firm has advised many of the leading foreign banks and financial institutions. The firm’s lawyers continue to advise on some of the largest and most complex issuance of equity or debt by Korean issuers, IPOs, securitisation, structured finance, project finance, and derivatives, as well as on regulatory compliance work.
Corporate / M&A:
The firm advises on all aspects of general corporate and commercial law relating to the operation of foreign-owned companies in Korea. These include the negotiation and drafting of complex contracts, such as joint ventures or shareholders agreements, as well as contracts with suppliers, distributors and commercial agents, licensees, or employees.
Energy & Resources:
The Energy & Resources team advises on all regulatory aspects affecting energy or resources projects in Korea. In addition, it has advised on investors, financiers, governmental agencies and offtakers in various large scale projects, both in Korea and overseas. Whether it be an ESS solar power facility, an offshore wind project, an LNG terminal or a regasification pipeline network, the team has the experience and expertise to assist clients to navigate the myriad of legal and commercial issues.
Employment & Labour:
Shin & Kim provides comprehensive legal services to Korean and foreign clients on all aspects of labor and employment-related matters, including internal and external investigations, employee dismissal, severance pay, collective bargaining and labor union disputes, and employment-related issues in M&A transactions.
Anti-Corruption & Compliance:
Shin & Kim has extensive experience in advising and defending clients in matters involving the US Foreign Corrupt Practices Act (FCPA), the UK Bribery Act and Korean anti-corruption laws.
Intellectual Property:
The firm’s IP team handles both contentious and non-contentious matters. Shin & Kim is active in trademark, patent, copyright, design, trade secret, unfair competition, and internet domain name matters. The firm has an integrated team of 50 lawyers and patent attorneys handling IP matters, supported by more than 50 non-lawyer specialists with subject matter expertise.
International Arbitration:
Shin & Kim’s well-respected arbitration practitioners represent the firm’s clients in large complex arbitrations all over the world and under the rules of all major arbitral institutions, including the ICC, SIAC, HKIAC, LCIA and the KCAB. Understanding the commercial objectives of the underlying matter (that is the subject of the dispute) is the team’s strength.
Litigation:
Shin & Kim is recognised as one of the premier firms in Korea for litigation. The litigation department is divided into six specialist practice groups that focus on the different types of litigation and litigation in various industries. The matrix approach of forming teams of subject matter experts with industry experts has been a winning approach for clients. Shin & Kim continues to be involved in many of the country’s leading and landmark cases.
Real Estate:
Shin & Kim is the market-leader. The firm’s real estate experts advise institutional lenders, developers, corporations and foreign investors in all real estate-related matters, including some of the most complex and landmark transactions. The firm assists both Korean and foreign clients on commercial real estate purchase or sale transactions, leasing, deal structuring, and financing.
Tax & Customs:
The team consists of over 40 lawyers, CPAs and former government officials from the National Tax Service, Ministry of Strategy and Finance, and the Korea Customs Service. The team advises on all types of domestic and international tax-related matters, including tax audit defense, tax mock audits, advice on international transactions and tax treaties, transfer pricing, as well as customs-related advisory services.
TMT:
Shin & Kim’s TMT practice group has been at the forefront of advising domestic and foreign clients in the broadcasting and telecommunications industries, providing highly specialised advice on regulatory, M&A and dispute resolution matters. The group comprises of subject matter and industry experts, who have vast experience with various government agencies, including the Ministry of Science, ICT and Future Planning, and the Korea Communications Commission.
Ranked Offices
Provided by Shin & Kim
- Seoul23rd Floor, D-Tower (D2), 17 Jongno 3-gil, Jongno-gu, Seoul, Seoul, South Korea, 03155
- Web: www.shinkim.com
- Tel: +82 2 316 4114
- Fax: +82 2 756 6226
- View ranked office
Contributions
Latest contributions provided by Shin & Kim
All contributions provided by Shin & Kim
Shin & Kim rankings
Articles, highlights and press releases
39 items provided by Shin & Kim
Shin & Kim LLC announced the launch of the AI & Data Center
Shin & Kim’s team of top AI and data experts launch the “AI & Data Center” to provide comprehensive consulting services on AI integration and Big Data.
Korea Corporate Governance Service Proposes Revision to the ESG Model Standards
Recognizing the increasing importance of ESG factors to evaluate companies and countries on how far advanced they are with sustainability, the Korea Corporate Governance Service (KCGS) proposed a revision to the ESG model standards (“Proposed Model Standards”). This reflects the trends..............
Green Bond Guidelines 1 - Issuing Process
The first “green bonds” in Korea were issued by the Export-Import Bank of Korea in 2013. Since then, the issuances of green bonds have mostly been led by public companies with high credit ratings targeting offshore markets. However, interest in “green finance” products in the Korean domestic market
MERGER CONTROL IN KOREA Vol. 03 - KFTC’s Unconditional Approval of Joint Venture Between Ride-Hailin
On January 28, 2021, the Korea Fair Trade Commission (the “KFTC”) unconditionally approved the proposed formation of a 51:49 joint venture between two ride-hailing giants, Uber B.V. (“Uber”) and T Map Mobility Co. Ltd. (“T Map Mobility”).
MERGER CONTROL IN KOREA Vol. 02 - Introduction of New “Size-of-Transaction” Test Confirmed
On December 9, 2020, a bill for the MRFTA (“Monopoly Regulation and Fair Trade Act”) amendment was passed at the National Assembly (hereinafter the “Amendment”).
What’s new in Korean taxes in 2021?
This issue highlights certain tax amendments that were passed by the National Assembly of Korea to be effective as of January 1, 2021. The amendments include a number of provisions that advocate the taxpayer’s right such as change in the base date for interest on refund request or tax audit notice
On 14 January 2021, the Financial Services Commission (the “FSC”) announced plans to comprehensively reform the corporate disclosure framework. The key plans related to ESG are:
Element of Plea Bargaining Introduced in the Criminal Investigation Procedure for Cartel Cases
On December 10, 2020, the so-called “Guidelines for Reduction of Penalty in Cartel Cases and Investigation Procedures” (the “Criminal Leniency Guidelines”) became effective. As such, the Korean Prosecutors’ Office has formally introduced a criminal “leniency program” in cartel cases, allowing
Regulation on the Approval of Exemptions to Chemicals Subject to Safety Information
On November 9, 2020, the Ministry of Environment (“MOE”) announced “the Regulation on the Approval of Exemptions to Chemicals Subject to Safety Information” (the “Disclosure Exemption Regulation”). The Disclosure Exemption Regulation sets forth (i) the application procedures to request an exemption
Korean Wind Farms: Square-Shaped Area Permitted for LIDARs
The Ministry of Trade, Industry and Energy has announced that an amendment to the relevant administrative licensing rules has come into effect as of November 11, 2020 so as to allow areas designated for a wind power generating licence using wind power measuring equipment such as a met mast or LIDAR
Announcement of the Draft Enforcement Decree to the Financial Consumer Protection Act
The Financial Services Commission announced its proposal for the Enforcement Decree to the Financial Consumer Protection Act (the “Draft Enforcement Decree”) on October 28, 2020. The Financial Consumer Protection Act (the “FCPA”), which is scheduled to take effect on March 25, 2021.....
Merger Control in Korea _Vol.01
- KFTC’s Unconditional Approval on 3-to-2 Merger in Take-Home Ice Cream Segment - On September 28, 2020, the Korea Fair Trade Commission (the “KFTC”) unconditionally cleared Binggrae’s acquisition of 100 percent shares in Haitai Icecream.
Korea’s PIPC Releases Comprehensive Guidelines on Processing Pseudonymized Data
On August 5, 2020, the amendments to the “Three Major Data Privacy Laws” became effective – the Personal Information Protection Act, the Act on the Promotion of the Use of the Information Network and Information Protection, and the Credit Information Use and Protection Act.
Korean Government Seeks to Expand Class Action Law & Punitive Damages in Commercial Lawsuits
South Korea is on the verge of passing legislations that would expand the scope of the country’s existing class action law and award of punitive damages. The proposed changes, which purportedly aim to provide a legal remedy for collective harm to the Korean public, are likely to have a significant i
Introduction of the Amendments to the Commercial Building Lease Protection Act
On September 24, 2020, the legislators passed several amendments to the Commercial Building Lease Protection Act (the “Act” or as amended, the “Amended Act”) in the National Assembly. Reflecting the ongoing economic impact of COVID-19, the most significant revisions to the Act include (i) limiting
New Legislation Aims to Balance Promoting Micromobility Industry Growth with Safety
As the number of personal mobility device users in South Korea has increased, so has the number of related accidents. While there is social consensus on the need for legislation that addresses, among others, safety, standards for use, and parking issues, question is how to appropriately promote the
COVID-19 & Beyond: Employment Ministry Issues Comprehensive Employers’ Guide on Working from Home
As the COVID-19 pandemic continues to evolve in South Korea, many employers are extending or beginning to implement work-from-home (“WFH”) options for their employees, or combining remote work and office time.
Shin & Kim Strengthens International Tax Practice
Shin & Kim has hired four leading experts. ○ Sunny Kim, Senior Foreign Attorney / Head of the International Tax Practice: ○ Ellen Go, AICPA: ○ Michelle Kim, Foreign Attorney: ○ Sae Bom Baik, Korean Attorney:
Amendment to Korean renewable energy laws
Amendments to the Electric Utility Act will take effect as of 1 October 2020. Further details will be available in September 2020 under the amended sub-regulations after further public debate.
South Korea Set to Launch Corruption Investigation Office for High-Ranking Officials & Its...
Despite strong protests by the main opposition party and conservative groups, on January 14, 2020, the Korean National Assembly passed a controversial bill setting up an independent investigation agency dedicated to investigating corruption among high-ranking public officials (the “Corruption...
COVID-19 Impact on Asset-Backed Securitization Transactions
The recent COVID-19 pandemic is expected to have a significant impact on the financial market and financial transactions, including asset-backed securitization transactions (“ABS Transactions”). This newsletter aims provide you with an overview of the issues relating to ABS Transactions resulting..
Korean Supreme Court Reaffirms Prior Ruling on Illegal Search Warrants
Recently, the Korean Supreme Court held that the seizure is unlawful if a government investigator only shows the cover page of a warrant when seizing an item, such as a mobile phone from a suspect, despite the suspect’s request to see the other parts of the warrant. This decision is in line with the
COVID-19 : Government Measures to Compensate Landlords and Tenants
1. Government Order to Close or Shut Down Premises A) Compensation Available under the Infectious Disease Control and Prevention Act (“IDCPA”) B) Scope of the Compensation under the IDCPA C) Procedure for Receiving Compensation under the IDCPA D) Claim for Compensation Upon Voluntary Closure of Prem
Korea’s Tariff & Trade Policy Responses to Mitigate Impact of COVID-19
With the continued spread of COVID-19 and the severe impact on the global economy, here in Korea, the domestic supply of personal hygiene and healthcare products is dwindling (e.g, face masks and hand sanitizers). Both exporters and importers in Korea have been significantly impacted.
Act on Reporting & Use of Specific Financial Information Amended – Key Implications
Despite the high risks for misuse of virtual asset transactions for money laundering and terrorist financing, there has been an absence of legal framework to prevent such risks in Korea due to the anonymity of virtual asset transactions.
Korean Commercial Code Amended to Require Greater Transparency by Listed Companies
Korean Commercial Code Amended to Require Greater Transparency by Listed Companies When Convening General Shareholders Meetings On January 29, 2020, the amendment to Article 31(3) of the Korean Commercial Code became effective, specifying what listed companies must include in its notification.....
Legislative Development – Key Implications for Substantiating General Shareholders Meeting of Listed
On January 29, 2020, the Enforcement Decree of the Korean Commercial Code (the “Amended EDCA”) was promulgated. The Amended EDCA concerns improvements to corporate ownership and governance as a key challenge to be addressed as part of the “plan for rapid achievement of a fair economy,” which was....
FSC Releases Revised Insurance Supervision Regulations to Introduce Coinsurance for Insurance Compan
On January 30, 2020, the Financial Services Commission (the “FSC”) released the Coinsurance Introduction Plan, being the first phase of its insurance liability restructuring plan.
2020 Korean Tax Update – Spotlight on Value- Added Tax
In this final 2020 Korean Tax Update, we focus on the amended Korean tax laws relating to value-added tax (“VAT”).
Customs-Related Amendments to Tax Laws for 2020
The recent approval of tax amendments for 2020 by the National Assembly of Korea included the following customs-related changes: 1. New Provision in the Restriction of Special Taxation Act (“RSTA”) – Reduction/Exemption of Customs Duties for Machinery/Equipment for Bonded Warehouse Facilities of Sm
Shin & Kim LLC announced the launch of the AI & Data Center
Shin & Kim’s team of top AI and data experts launch the “AI & Data Center” to provide comprehensive consulting services on AI integration and Big Data.
Korea Corporate Governance Service Proposes Revision to the ESG Model Standards
Recognizing the increasing importance of ESG factors to evaluate companies and countries on how far advanced they are with sustainability, the Korea Corporate Governance Service (KCGS) proposed a revision to the ESG model standards (“Proposed Model Standards”). This reflects the trends..............
Green Bond Guidelines 1 - Issuing Process
The first “green bonds” in Korea were issued by the Export-Import Bank of Korea in 2013. Since then, the issuances of green bonds have mostly been led by public companies with high credit ratings targeting offshore markets. However, interest in “green finance” products in the Korean domestic market
MERGER CONTROL IN KOREA Vol. 03 - KFTC’s Unconditional Approval of Joint Venture Between Ride-Hailin
On January 28, 2021, the Korea Fair Trade Commission (the “KFTC”) unconditionally approved the proposed formation of a 51:49 joint venture between two ride-hailing giants, Uber B.V. (“Uber”) and T Map Mobility Co. Ltd. (“T Map Mobility”).
MERGER CONTROL IN KOREA Vol. 02 - Introduction of New “Size-of-Transaction” Test Confirmed
On December 9, 2020, a bill for the MRFTA (“Monopoly Regulation and Fair Trade Act”) amendment was passed at the National Assembly (hereinafter the “Amendment”).
What’s new in Korean taxes in 2021?
This issue highlights certain tax amendments that were passed by the National Assembly of Korea to be effective as of January 1, 2021. The amendments include a number of provisions that advocate the taxpayer’s right such as change in the base date for interest on refund request or tax audit notice
On 14 January 2021, the Financial Services Commission (the “FSC”) announced plans to comprehensively reform the corporate disclosure framework. The key plans related to ESG are:
Element of Plea Bargaining Introduced in the Criminal Investigation Procedure for Cartel Cases
On December 10, 2020, the so-called “Guidelines for Reduction of Penalty in Cartel Cases and Investigation Procedures” (the “Criminal Leniency Guidelines”) became effective. As such, the Korean Prosecutors’ Office has formally introduced a criminal “leniency program” in cartel cases, allowing
Regulation on the Approval of Exemptions to Chemicals Subject to Safety Information
On November 9, 2020, the Ministry of Environment (“MOE”) announced “the Regulation on the Approval of Exemptions to Chemicals Subject to Safety Information” (the “Disclosure Exemption Regulation”). The Disclosure Exemption Regulation sets forth (i) the application procedures to request an exemption
Korean Wind Farms: Square-Shaped Area Permitted for LIDARs
The Ministry of Trade, Industry and Energy has announced that an amendment to the relevant administrative licensing rules has come into effect as of November 11, 2020 so as to allow areas designated for a wind power generating licence using wind power measuring equipment such as a met mast or LIDAR
Announcement of the Draft Enforcement Decree to the Financial Consumer Protection Act
The Financial Services Commission announced its proposal for the Enforcement Decree to the Financial Consumer Protection Act (the “Draft Enforcement Decree”) on October 28, 2020. The Financial Consumer Protection Act (the “FCPA”), which is scheduled to take effect on March 25, 2021.....
Merger Control in Korea _Vol.01
- KFTC’s Unconditional Approval on 3-to-2 Merger in Take-Home Ice Cream Segment - On September 28, 2020, the Korea Fair Trade Commission (the “KFTC”) unconditionally cleared Binggrae’s acquisition of 100 percent shares in Haitai Icecream.
Korea’s PIPC Releases Comprehensive Guidelines on Processing Pseudonymized Data
On August 5, 2020, the amendments to the “Three Major Data Privacy Laws” became effective – the Personal Information Protection Act, the Act on the Promotion of the Use of the Information Network and Information Protection, and the Credit Information Use and Protection Act.
Korean Government Seeks to Expand Class Action Law & Punitive Damages in Commercial Lawsuits
South Korea is on the verge of passing legislations that would expand the scope of the country’s existing class action law and award of punitive damages. The proposed changes, which purportedly aim to provide a legal remedy for collective harm to the Korean public, are likely to have a significant i
Introduction of the Amendments to the Commercial Building Lease Protection Act
On September 24, 2020, the legislators passed several amendments to the Commercial Building Lease Protection Act (the “Act” or as amended, the “Amended Act”) in the National Assembly. Reflecting the ongoing economic impact of COVID-19, the most significant revisions to the Act include (i) limiting
New Legislation Aims to Balance Promoting Micromobility Industry Growth with Safety
As the number of personal mobility device users in South Korea has increased, so has the number of related accidents. While there is social consensus on the need for legislation that addresses, among others, safety, standards for use, and parking issues, question is how to appropriately promote the
COVID-19 & Beyond: Employment Ministry Issues Comprehensive Employers’ Guide on Working from Home
As the COVID-19 pandemic continues to evolve in South Korea, many employers are extending or beginning to implement work-from-home (“WFH”) options for their employees, or combining remote work and office time.
Shin & Kim Strengthens International Tax Practice
Shin & Kim has hired four leading experts. ○ Sunny Kim, Senior Foreign Attorney / Head of the International Tax Practice: ○ Ellen Go, AICPA: ○ Michelle Kim, Foreign Attorney: ○ Sae Bom Baik, Korean Attorney:
Amendment to Korean renewable energy laws
Amendments to the Electric Utility Act will take effect as of 1 October 2020. Further details will be available in September 2020 under the amended sub-regulations after further public debate.
South Korea Set to Launch Corruption Investigation Office for High-Ranking Officials & Its...
Despite strong protests by the main opposition party and conservative groups, on January 14, 2020, the Korean National Assembly passed a controversial bill setting up an independent investigation agency dedicated to investigating corruption among high-ranking public officials (the “Corruption...
COVID-19 Impact on Asset-Backed Securitization Transactions
The recent COVID-19 pandemic is expected to have a significant impact on the financial market and financial transactions, including asset-backed securitization transactions (“ABS Transactions”). This newsletter aims provide you with an overview of the issues relating to ABS Transactions resulting..
Korean Supreme Court Reaffirms Prior Ruling on Illegal Search Warrants
Recently, the Korean Supreme Court held that the seizure is unlawful if a government investigator only shows the cover page of a warrant when seizing an item, such as a mobile phone from a suspect, despite the suspect’s request to see the other parts of the warrant. This decision is in line with the
COVID-19 : Government Measures to Compensate Landlords and Tenants
1. Government Order to Close or Shut Down Premises A) Compensation Available under the Infectious Disease Control and Prevention Act (“IDCPA”) B) Scope of the Compensation under the IDCPA C) Procedure for Receiving Compensation under the IDCPA D) Claim for Compensation Upon Voluntary Closure of Prem
Korea’s Tariff & Trade Policy Responses to Mitigate Impact of COVID-19
With the continued spread of COVID-19 and the severe impact on the global economy, here in Korea, the domestic supply of personal hygiene and healthcare products is dwindling (e.g, face masks and hand sanitizers). Both exporters and importers in Korea have been significantly impacted.
Act on Reporting & Use of Specific Financial Information Amended – Key Implications
Despite the high risks for misuse of virtual asset transactions for money laundering and terrorist financing, there has been an absence of legal framework to prevent such risks in Korea due to the anonymity of virtual asset transactions.
Korean Commercial Code Amended to Require Greater Transparency by Listed Companies
Korean Commercial Code Amended to Require Greater Transparency by Listed Companies When Convening General Shareholders Meetings On January 29, 2020, the amendment to Article 31(3) of the Korean Commercial Code became effective, specifying what listed companies must include in its notification.....
Legislative Development – Key Implications for Substantiating General Shareholders Meeting of Listed
On January 29, 2020, the Enforcement Decree of the Korean Commercial Code (the “Amended EDCA”) was promulgated. The Amended EDCA concerns improvements to corporate ownership and governance as a key challenge to be addressed as part of the “plan for rapid achievement of a fair economy,” which was....
FSC Releases Revised Insurance Supervision Regulations to Introduce Coinsurance for Insurance Compan
On January 30, 2020, the Financial Services Commission (the “FSC”) released the Coinsurance Introduction Plan, being the first phase of its insurance liability restructuring plan.
2020 Korean Tax Update – Spotlight on Value- Added Tax
In this final 2020 Korean Tax Update, we focus on the amended Korean tax laws relating to value-added tax (“VAT”).
Customs-Related Amendments to Tax Laws for 2020
The recent approval of tax amendments for 2020 by the National Assembly of Korea included the following customs-related changes: 1. New Provision in the Restriction of Special Taxation Act (“RSTA”) – Reduction/Exemption of Customs Duties for Machinery/Equipment for Bonded Warehouse Facilities of Sm