DR & AJU

South Korea

Analysis

Overview

DR & AJU is actively engaged in corporate and M&A matters, offering a range of legal services related to the establishment of domestic subsidiaries for foreign companies, joint ventures, branches and liaison offices, as well as handling foreign exchange transactions. The firm is known for providing legal advice in a prompt and professional manner, catering to various needs, including the establishment of venture companies or IT firms within the high-tech sector, as well as facilitating listings on the Korean Securities Dealers Automated Quotations (Kosdaq). The M&A practice is led by managing partner Dae Hui Kim, along with partners Kyeong Rok Jeong, Kyong Kook Kang and Jae Young Shin. Their collective experience and guidance contribute to the firm's M&A capabilities. Recently, DR & AJU has further strengthened its corporate and M&A team with several key hires from HMP Law, including foreign attorney Joachim Nowak and partners Seong Hun Kim, Jin Hyuk Chung, and Jeeseon Choi, who joined the firm between April and May 2023.

Client feedback

"They have good relationships with clients and partners in other countries." – Banking and finance

"Bilingual, responsive, and client-focused. Also open to working on alternative fee solutions to accommodate clients' legal budgets." – Dispute resolution

Kyung Kook (Kenny) Kang

"Business-driven and targeting."

Jaesung (Jason) Park

"Responsive, clear, and comprehensive in updating progress on the matter."

Corporate and M&A

Work highlights

Advised Eastar Jet in exiting corporate rehabilitation proceedings and navigating subsequent operational challenges. The firm assisted the client in strategising to overcome regulatory hurdles and working towards obtaining necessary approvals for restarting flight operations. The matter highlights the complex interplay between financial restructuring and regulatory compliance in the aviation industry.

Advised Seongjeong and Baekje Country Club on the sale of their shares in Eastar Jet to a private equity fund. The transaction involved a company that had recently emerged from rehabilitation proceedings and was facing operational challenges due to regulatory hurdles. Despite these complexities, the firm successfully structured and facilitated the sale, navigating the legal and financial intricacies associated with Eastar Jet's unique situation and the administrative restrictions impacting its operations.

Advised Kyobo Book Centre on its W51.6 billion merger with its wholly-owned subsidiary, Kyobo Hottracks. The merger aimed to enhance operational efficiency by combining Kyobo Book Centre's operations with Kyobo Hottracks' retail business in stationery, gifts and music. The firm served as legal adviser, conducting a preliminary review of anticipated legal issues and successfully completing all necessary procedures, including corporate merger filings. The merger was completed in July 2023, streamlining the client's business structure and potentially improving its market position in the retail book and lifestyle products sector.

Key clients

GTG Wellness, Korea Climate & Governance Improvement Fund, IDO Accounting Firm, RTNET

Banking and finance

Work highlights

Advised Woori Bank and other lenders on providing a W219 billion ($165 million) standard PF loan for the Uncheon Jugong Reconstruction Project in Cheongju, South Korea, preparing financial contracts and offering legal guidance on this significant government reconstruction initiative with potential far-reaching impacts on the local community and economy.

Advising Kookmin Bank and Gaegum 2 District Housing Redevelopment Improvement Project Association on all legal and financial aspects of a W115 billion redevelopment project in Busan, overseeing project financing, drafting agreements, and ensuring legal compliance for this significant urban improvement initiative with potential substantial impact on regional economic growth.

Advising Woori Bank and a consortium of banks on providing W112 billion in acquisition financing for PT W’s purchase of 100% shares in Windsor Global from Diageo Atlantic, preparing financial contracts and offering legal guidance to ensure the transaction's legality, risk mitigation, and financial security for the lenders.

Key clients

Nonghyup Bank