Asialaw Profiles
The Guide to the legal markets of the Asia-Pacific

Barun Law’s small but esteemed M&A practice, led by partner Kitai Park, is known for its work with US and New Zealand clients. In its largest M&A transaction in the last year, Park and senior foreign attorney Thomas Pinansky acted for US company Thomas J Davis in its acquisition of interests in multiple jurisdictions including Korea, Guam, the US and the Philippines.

Barun Law

Barun Law partner Kitai Park and senior foreign attorney Tom Pinansky have advised governments on several large real estate transactions this year. In one deal highlight, Park and Pinansky are representing the US Government on the establishment of a new diplomatic compound in Seoul worth over US$1 billion. The two attorneys are also advising Taubman on the development of the Songdo City Shopping Centre in Incheon, reportedly the largest greenfield shopping centre in Korea.

Hankylu Hanul

Partner Kil Ho Shin of Hankyul Hanul handled a construction dispute for the Korea Rail Network Authority against another state owned entity, Korea Railroad. In the arrangement, Korea Rail Network pays Korea Railroad quarterly. However, in 2009, Korea Rail Network found deductible VAT input tax in Korea Railroad’s business expenses that would have equalled KRW88 billion. The dispute was resolved by mutual consultation.

Yoon & Yang

Yoon & Yang was involved in two of the largest cross border real estate transactions this year. Partner Young Sun Cho advised the National Pension Service of Korea in its €585 million acquisition of a 95% stake in Sochribel GmbH, the owner of Sony Centre buildings. The National Pension Service acquired 51% of the stake outright in O’Parinor shopping mall, and also acquired an additional 24% stake through a special purpose company in Luxembourg for €228 million.

Barun Law has maintained its strong standing in the litigation rankings this year. Peers mention its ability to recruit former judges and prosecutors.

Clients find Barun Law’s global perspective useful. Many of the firm’s lawyers were educated overseas, and there is very little in the way of a language barrier between them and the firm’s English-speaking clients. A US client says: “The firm’s attorneys understand how Americans think.”

In a case that showcased the firm’s international prowess, partner Gwan Joong Kim and senior foreign attorney Tom Pinansky represented Richard Garriott, a well known video game developer who coined the term MMORPG (Mass Multiplayer Online Role Playing Game), in a Texas lawsuit against MC Soft over termination of his employment. The trial judge allowed applicable interpretation of Korean law and Garriott was awarded US$28 million in damages.

Barun Law

Barun Law has been active in the labour and employment areas in Korea and elsewhere. A highlight case was handled by senior counsel Thomas Pinansky, who advised Richard Garriott regarding his unfair dismissal by video game developer NC Soft in a dispute worth US$28 million. The firm also represents large multinational corporations like Walmart and Barclays.