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

Choi & Kim is one of the very best maritime, aviation and shipping firms in Korea. Founded in 1997 by CJ Kim and JH Choi, the firm remains the only boutique firm that specialises exclusively in this area.Peers describe the firm as the “top runner” in ... [more]

Choi & Kim is one of the very best maritime, aviation and shipping firms in Korea. Founded in 1997 by CJ Kim and JH Choi, the firm remains the only boutique firm that specialises exclusively in this area.

Peers describe the firm as the “top runner” in the shipping, maritime and aviation space, but stress that the real expertise lies at the senior level of the partnership. “The top two partners are very experienced, but there is a gap between them and the firm’s junior associates,” says one peer.

Name partners Choi and Kim are advising the International Oil Polution Compensation Fund regarding damages relating to the December 2007 collision of the MV Heibei Spirit with crane barge Samsung No 1, which generated the largest oil spill ever in Korea.

In a large insolvency case, Choi & Kim are handling creditors’ cases in rehabilitation proceedings for shipping company Korea Line that involve more than 100 counterparty disputes.

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Kim & Chang has bolstered its shipping, maritime and aviation practice this year, hiring new partner Hyeon-Tae Bae and two senior associates from courts. One practitioner praised the firm’s “strong capabilities in all areas”, while another says: “The ... [more]

Kim & Chang has bolstered its shipping, maritime and aviation practice this year, hiring new partner Hyeon-Tae Bae and two senior associates from courts. One practitioner praised the firm’s “strong capabilities in all areas”, while another says: “The firm handles approximately 20% of the shipping, maritime and aviation work in Korea.” The firm’s strong project finance practice means that much of the work involves the financing of aircraft and vessels.

In a landmark transaction that closed in March 2011, Kim & Chang advised the offshore lenders on a ship financing deal for two vessels built for SK Shipping. The firm was able to skirt legal ramifications in relation to structuring a private equity fund that holds 95% of the ship for Panamanian borrowers and owners.

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Lee & Ko’s shipping, maritime and aviation practice retains its top tier standing this year, although it is known to be stronger on the aviation side. Clients are particularly impressed with partner Jin Young Jung. “He and his team are a dominant power ... [more]

Lee & Ko’s shipping, maritime and aviation practice retains its top tier standing this year, although it is known to be stronger on the aviation side. Clients are particularly impressed with partner Jin Young Jung. “He and his team are a dominant power in all aspects of this area,” says one.

Jung and partner Tae Soo Jung are acting for Korea Line in its US$100 million insolvency. After rehabilitation proceedings were secured, the firm worked with other law firms internationally to ensure that Korea Line ships are not arrested at ports and that the stay order from the Korean court is internationally recognised in countries such as the UK.

In another important liability case, Jung is representing Air France regarding damages from its 2009 aircraft crash in Brazil. A Korean family is asking for more consolation fees from the airline than required under Korean law, and the matter is in court.

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“Bae Kim & Lee has an up-and-coming shipping, maritime and aviation practice,” says one rival practitioner. Partner Jong Ku Kang heads the firm’s insurance and maritime practice group, and has drawn plaudits for his recent work in the area.In a highlight ... [more]

“Bae Kim & Lee has an up-and-coming shipping, maritime and aviation practice,” says one rival practitioner. Partner Jong Ku Kang heads the firm’s insurance and maritime practice group, and has drawn plaudits for his recent work in the area.

In a highlight case, the firm is advising Dongkuk Steel Mill regarding a ransom paid to pirates to rescue the ‘MV TITAN’ crew. The vessel was carrying Dongkuk Steel Mill’s products when pirates attacked. Its crew was held for ransom and the cargo was stolen. Lead partner Kang is now negotiating a settlement with the ship owner regarding the lost cargo, which was worth US$12 million.

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Partner Choon-Won Lee, who left Choi & Kim in 2008, leads the shipping, maritime and aviation practice at Jipyong & Jisung, which peers describe as “litigation-oriented”.In one of the firm’s largest cases this year, Lee represented Pyeongtaek Dangjin ... [more]

Partner Choon-Won Lee, who left Choi & Kim in 2008, leads the shipping, maritime and aviation practice at Jipyong & Jisung, which peers describe as “litigation-oriented”.

In one of the firm’s largest cases this year, Lee represented Pyeongtaek Dangjin Central Port in a dispute regarding an accident with the boat ‘Joyous Land’. It collided with the port’s berth upon docking, causing severe damage. Lee advised on a suit against the owners of ‘Joyous Land’, and won US$10 million in damages for repairs to the berth, administrative fees and lost earnings from the berth.

Another highlight case involved the ‘Kotoku Fortune’ accident, in which the Panamanian-flagged tanker made contact with a rope that connected two fishing boats. The result was one fishing boat capsizing and three crewmembers losing their lives. The master of Kotoku Fortune was accused and detained regarding the deaths and property destruction, but the firm’s immediate orders to investigate limited the damages and liability.

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Yulchon’s shipping, maritime and aviation practice works closely with its strong project finance practice, and highlight deals usually involve either the financing or securitisation of vessels. The firm’s multi-disciplinary approach is a big hit with ... [more]

Yulchon’s shipping, maritime and aviation practice works closely with its strong project finance practice, and highlight deals usually involve either the financing or securitisation of vessels. The firm’s multi-disciplinary approach is a big hit with clients.

In one of the largest transactions this year, a firm team led by partner Christopher Cho advised lenders Korea Development Bank and Korea Finance Bank on a US$180 million financing deal for two vessels that will be chartered to DK Maritime, a subsidiary of Korea Line and Daewoo Shipbuilding & Marine Engineering.

Cho also represented Jeju Air on the sale of its four Q-400 aircraft to Aerovias de Integracion in a transaction worth US$50 million. The firm provided help in negotiation and documentation on a deal that involved the last four propeller-driven planes in Korea.

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Yoon & Yang has strengthened its practice by hiring partner Dae Hwi Kim, formerly Chief Judge at the Seoul Family Court.Lead partner Hae Duk Jung advised SK Shipping and its foreign subsidiaries in rehabilitation proceedings involving US$20 million damages ... [more]

Yoon & Yang has strengthened its practice by hiring partner Dae Hwi Kim, formerly Chief Judge at the Seoul Family Court.

Lead partner Hae Duk Jung advised SK Shipping and its foreign subsidiaries in rehabilitation proceedings involving US$20 million damages caused by Samsung Logix’s breach and termination of charter.

In another highlight dispute, Jung is advising DHL Global Forwarding Korea in a suit by an insurer seeking indemnity against both DHL and Korea Air for damage to cargo. This case will determine the extent to which the two companies share liability for the damage.

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