Projects and energy: foreign firms in South Korea

Linklaters

With a dedicated practice on the ground in Seoul, Linklaters LLP handles the full range of advisory matters, supporting international investors and corporations in major inbound transactions, particularly investments into renewable energy, local commercial banks and Korean ECAs. Practice leader and managing partner Joo Hee Lee specialises in multi-source project finance and project development, while energy and infrastructure expert James McLaren advises on offshore windfarm projects. Associate Jenny Jo is also recommended.

Responsables de la pratique:

Joo Hee Lee


Autres avocats clés:

Jenny Jo; James McLaren


Les références

‘Joo Hee Lee is an excellent partner who provides helpful advice.’

‘The Linklaters Seoul office stands out due to its exceptional team of lawyers who bring unique strengths and capabilities to the table. They consistently provide excellent solutions and demonstrate a high level of proficiency, ensuring efficiency and effectiveness throughout.’

‘Joo Hee Lee’s ability to see the bigger picture and navigate complex financial negotiations with finesse is truly commendable.’ 

Principaux clients

KEXIM


K-SURE


KDB


NH Investment & Securities Co., Ltd.


Samsung C&T


KEPCO


KOMIPO


KOSPO


KNOC


KIND


Lotte Chemical


Ontario Teachers Pension Plan


Standard Chartered Bank


ING Bank


The Bank of Tokyo-Mitsubishi UFJ, Ltd.


Credit Agricole Corporate and Investment Bank


BNP Paribas


Sumitomo Mitsui Banking Corporation


The Hong Kong and Shanghai Banking Corporation


Mizuho Bank Ltd.


CACIB


MUFG


Bank of America


Principaux dossiers


  • Advised the lenders on the financing of the Jeonnam 1 offshore wind farm project located in South Jeolla Province, South Korea.
  • Advising the lenders including KEXIM, K-SURE and banks on the corporate financing of the Lotte Chemical sponsored Naphtha Cracker Project in the Banten province of Indonesia.
  • Advising OTPP on its investment of up to US$1bn in a global offshore wind development joint venture with Corio Generation to support the development of 14 fixed bottom and floating wind projects including in South Korea.

Milbank

Milbank‘s team handles a broad range of advisory matters, supporting major Korean corporations and financial institutions, advising on power production financing. With extensive experience working in Singapore and Japan, David Gartside supports commercial lenders and contractors with infrastructure funding, in addition to financings for power production, electricity transmission, transportation, high-end manufacturing plants and telecoms projects. Special counsel Brian Youn is another key contact in the group, advising on large-scale power financing and development projects.

Responsables de la pratique:

David Gartside


Autres avocats clés:

Brian Youn


Les références

‘David Gartside is a great communicator, providing solutions and alternatives on conflicting matters with the sponsors.’

Principaux clients

The Export-Import Bank of Korea (KEXIM)


The Korea Trade Insurance Corporation (K-SURE)


Woori Bank


Korean Airlines


Asiana Airlines


Australia and New Zealand Banking Group, Ltd


Standard Chartered Bank


Shinhan Bank


European Investment Bank


Société Générale


BNP Paribas


ING Bank


Export Development Canada


Principaux dossiers


  • Advised The Export–Import Bank of Korea (KEXIM), Korea Trade Insurance Corporation (K-SURE), Euler Hermes and a consortium of international commercial banks in the US$2 billion financing for SK On’s latest Gigafactory plant in Ivancsa, Hungary.
  • Advised ANZ and Korea Trade Insurance Corporation (K-SURE) in connection with a US$711 million 7-year term loan facility to finance the construction of an EV battery manufacturing project in Karawang, Indonesia, sponsored by the Hyundai Motor Group and LG Energy Solution.
  • Advised a lender group of export credit agencies and international financial institutions in financing the development of a high voltage direct current subsea transmission system in the United Arab Emirates issued by Abu Dhabi National Oil Company and Abu Dhabi National Energy Company PJSC.

Latham & Watkins LLP

With considerable experience in major project development and energy infrastructure-related advisory work, Stephen McWilliams works out of both the Singapore and Tokyo offices, leading the project development and finance team at Latham & Watkins LLP. The group represents Korean and international sponsors, lenders and investors, in a number of high-profile renewable energy, mining and petrochemicals, and LNG deals. Richard Chul Kim operates from the Tokyo office, while associate David Shin advises on various project finance transactions, particularly involving Korean clients.

Responsables de la pratique:

Stephen McWilliams


Autres avocats clés:

Richard Chul Kim; David Shin


Principaux clients

The Export-Import Bank of Korea


Korea Trade Insurance Corporation


Korea National Oil Corporation


Carlyle Asia Investment Advisors


Baker McKenzie LLP, Foreign Legal Consultant Office

Seoul-based Albert Chung, who advises on energy and infrastructure development and investment projects, works alongside practice leader Won Lee to coordinate South Korean coverage at Baker McKenzie LLP, Foreign Legal Consultant Office. The team advises both domestic and international clients on strategic partnerships, project development mandates and cross-border acquisitions. Based in Singapore, Sun Kyun Lim focuses on LNG supply agreements and is another key contact in the group.

Responsables de la pratique:

Won Lee


Autres avocats clés:

Albert Chung; Sun Kyun Lim


Principaux clients

SK E&S Co., Ltd.


Korea Midland Power Co., Ltd.


Korea Western Power Co. Ltd.


Korea South-East Power Co., Ld.


Korea Southern Power Co., Ltd.


Hyundai Oilbank


Pattern Energy Group LP


Hanwha Energy Corporation


SK Gas


Principaux dossiers


  • Representing SK E&S on its contemplated strategic partnership in the Asian markets with Plug Power, a NASDAQ listed hydrogen energy company in relation to the SK Group’s USD 1.5 billion investment in Plug Power.
  • Advised SK E&S on its investment in a bio-ethanol CCS (Carbon Capture Storage) project developed by Summit Agricultural Group in Midwestern United States.
  • Acting for Pattern and GPI on the ¥66.6bn (US$454m) 19-year project financing and project agreements for the 112 MW Ishikari Bay offshore wind project in Hokkaido, Japan.

Herbert Smith Freehills LLP

Of counsel Ken Nam leads the team at Herbert Smith Freehills LLP with the support of global head of energy, Lewis McDonald, who operates from the firm’s London office. The practice handles a broad range of mandates in the energy and natural resources arena, from acquisitions and divestments to deal structuring and LNG matters. Based in Seoul, head of the disputes group Mike McClure KC handles contentious cases, working on numerous power and construction-related arbitrations.

Responsables de la pratique:

Ken Nam


Autres avocats clés:

Lewis McDonald; Mike McClure KC


Les références

‘Willingness to assist day and night.’

‘Lewis McDonald is experienced and skilled in gas projects. He stands out because he understands client’s needs and always accommodates client’s requests.’

‘The lawyers are experienced in every aspect of gas projects, with sufficient commercial knowledge that is required to review project documents.’

Principaux clients

Korea Electric Power Corporation


Korea Gas Corporation


Korea Water Resources Corporation


POSCO Group


SK Group


Australian Strategic Materials


Korea Hydro & Nuclear Power


Principaux dossiers


  • Advised a Korean investor on its equity investment and offtake arrangements with an ASX-listed company for a graphite project in Africa.
  • Advised an international infrastructure fund on its 50:50 joint venture and shareholder loan arrangements for a solar PV project in South Korea.
  • Advised a Korean investor on its divestment of shares in a thermal coal mine joint venture project in Australia.

White & Case LLP (Foreign Legal Consultant Office)

The team at White & Case LLP (Foreign Legal Consultant Office) handles large-scale transactions and project financings for Korean and international sponsors in the renewable, oil and gas, and petrochemical industries. Executive partner of the Seoul office, Sungjin Kang has considerable experience advising Korean and international export-credit and private sector lenders. Kang is praised for his ‘in-depth knowledge of the market‘.

Responsables de la pratique:

Sungjin Kang


Les références

‘Sungjin Kang is a very experienced partner and has provided tailored professional advices to international and Korean developers, banks and ECAs on various projects including power, renewables, and oil and gas. His in-depth knowledge of the market and solid relationships with partners is outstanding.’ 

Principaux clients

Korea Midland Power Co., Ltd.


The Export-Import Bank of Korea


Korea Trade Insurance Corporation


Woori Bank


China Development Bank, Xinjiang Branch


Credit Suisse AG


Mizuho Bank, Ltd.


MUFG Bank, Ltd.


Sumitomo Mitsui Banking Corporation


Brite Energy Partners


PT Wampu Electric Power


PT Semangka Electric Power


Lotte Chemical Corporation


Principaux dossiers


  • Advised lenders, including KEXIM, K-SURE and other ECAs on a landmark US$2.3 billion senior financing to Uzbekistan GTL LLC (UzGTL)’, the national oil and gas company of Uzbekistan.
  • Advised Lotte Chemical Corporation on the development and financing of a US$3.9 billion large-scale petrochemical complex in Indonesia.
  • Advised  SMBC on the project financing for the Digital Seoul 1 (ICN10) data center project located in the Sangam Digital Media City in Seoul.