Asia-Pacific South Korea Restructuring/Insolvency

Bae, Kim & Lee is a highly regarded debtor-side practice assisting domestic companies in filing for rehabilitation and carrying out approved reorganisation plans. It houses a full-service team, well equipped to handle workouts as well as various insolvency-related takeovers and acquisitions of rehabilitated companies. The team also advises creditor groups, including major international lenders, and is well placed to assist with a range of contentious insolvency matters. It is particularly skilled in cross-border proceedings. Its key clients include Daesun Shipbuiding, Hyangsang Industry and Shinhan Heavy Industries.

Kim & Chang is a leading team with a large pool of industry experts offering an impressive breadth of restructuring and insolvency advice. It is particularly strong in assisting creditors on rehabilitation and bankruptcy proceedings and recognised for its cross-border insolvency capability. The team also regularly acts as debtor counsel, assisting domestic and international banks. The firm is adept at handling M&A transactions involving insolvent or financially distressed companies. It also provides out-of-court reorganisation services and is able to draw on relevant expertise in finance, tax and insolvency law.

Lee & Ko is a renowned group which includes former bankruptcy judges and handles significant contentious and non-contentious restructuring matters, having advised on substantial insolvency disputes. The firm remains a popular choice of counsel for both domestic and foreign proceedings, particularly those involving shipping and construction companies. It also has close relationships with prominent Korean financial institutions. Its clientele encompasses private corporates and banks such as HSBC, Credit Suisse, Daeyang Construction and World Star Aviation.

Shin & Kim is regularly instructed as debtor's counsel in high-profile corporate reorganisations, and well versed in acquisitions of distressed assets and debt restructuring matters. The firm handles both the contentious and non-contentious aspects of restructuring, including M&A transactions arising from restructuring proceedings. It is also proficient in advising foreign creditors, often Japanese, in relation to transactions with Korean debtors. The practice is well placed to assist government bodies with the drafting of insolvency legislation. SsangYong Motor, SK Broadband and Cosco Shipping Container Lines are among its clientele.

Yulchon is an experienced team with noted expertise in complex corporate restructurings. It has a proven track record in the coordination of multi-jurisdictional bankruptcies on behalf of debtors. The team is frequently instructed to advise on out-of-court rescue procedures and workout schemes. The firm provides capabilities in cross-border insolvency matters thanks to its close association with local firms in multiple jurisdictions. Its key clients include Korea Development Bank, Eastar Jet and Seoul Guaranty Insurance.

DR & AJU LLC has cultivated a niche domestic-focused practice advising largely on rehabilitation proceedings for a number of domestic clients in different industries including manufacturing, transport and construction. It also assists with the acquisition of companies going through rehabilitation. The firm's clients include SsangYong Motor, Korea National Railway and Hwangbo Construction.

Yoon & Yang is highly experienced in the various corporate transactions arising from reorganisation proceedings, with expertise in handling M&A transactions involving companies under rehabilitation. It continues to expand its creditor practice, often advising domestic banks. The firm also assists companies with filing for bankruptcy and handles related litigation. It is well placed to serve prominent international clients and Korean conglomerate corporations, with considerable experience handling cross-border insolvency cases. Its key clients include Hyundai BNG Steel, Korea Development Bank and Korea Real Estate Investment & Trust.

Barun Law is a compact team offering support to both debtors and creditors involved in corporate rehabilitation procedures. The firm also advises on debt reorganisation and voluntary debt reduction processes. It acts for a range of domestic and multinational clients active in a range of sectors from electronics to hospitality.