Davis Polk has one of the leading Korea practices among all the international firms in Asia. From our Tokyo and Hong Kong offices, we focus on complex, value-added assignments requiring creative and cross-market lawyering skills – including experience with products and structures developed in other markets.

The firm’s breadth of experience in the region includes advising a range of clients on both corporate and litigation matters, including capital markets and M&A transactions as well as cross-border enforcement actions, litigations and general dispute resolution advice.

We target innovative and important Korean transactions and have forged strong relationships with key Korean market participants, particularly the key investment banks active in the region. Our lawyers are widely recognized for their experience in the Korean markets and play a central role on many of the most significant Korea-related matters currently shaping today’s market.

Recognition

“This firm is seen by clients as a ‘go-to choice for debt capital markets, especially if there is a high level of complexity.’” Chambers Asia 2010
Davis Polk ranked 5th among U.S. firms in Korean M&A transactions announced in 2010. (Bloomberg)
Davis Polk received FinanceAsia’s award for “Best Korean Deal” in 2009 (the $333 million Regulation S offering of convertible notes by SK Telecom).

Notable Matters – Capital Markets

Korea Life. We advised the underwriters on the $1.6 billion Rule 144A/Regulation S IPO of common stock of Korea Life Insurance.
Export-Import Bank of Korea. We advised the lead managers on a $1 billion Schedule B offering of notes by the Export-Import Bank of Korea.
SK Telecom. We advised the joint bookrunners on the $333 million Regulation S offering of convertible notes by SK Telecom, the leading wireless telecommunications services provider in Korea. This offering won FinanceAsia’s award for “Best Korean Deal” in 2009.
Shinhan Financial Group. We advised the joint lead managers on the $938 million rights offering by Shinhan Financial Group, the largest Korean financial institution by market capitalization. This is the largest Korean rights offering in history.
Export-Import Bank of Korea. We advised the lead managers on a $1.25 billion and a $1 billion Schedule B offering of notes by The Export-Import Bank of Korea in 2010.

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Korea Development Bank. We advised the lead managers on a $2 billion Schedule B offering of notes by Korea Development Bank.
Export-Import Bank of Korea. We advised the lead managers on a $2 billion and a $1.5 billion Schedule B offering of notes by The Export-Import Bank of Korea in 2009.
Korea Hydro & Nuclear Power. We advised the initial purchasers on a $1 billion Rule 144A/Regulation S offering of notes by Korea Hydro & Nuclear Power, a Korean company engaged in nuclear and hydroelectric power generation and a subsidiary of Korea Electric Power.
Korea National Housing. We advised the lead managers on a $750 million Regulation S offering of notes by Korea National Housing, a statutory juridical entity responsible for implementing the Korean government's public housing policies.
Hyundai Capital Services. We advised the initial purchasers on a $500 million Rule 144A/Regulation S offering of notes by Hyundai Capital Services, a South Korean consumer finance company.
Shinhan Bank. We advised the initial purchasers on a $500 million Rule 144A/Regulation S offering of senior notes by Shinhan Bank, the third-largest commercial bank in Korea in terms of total assets.
Export-Import Bank of Korea. We advised the lead managers on a $2 billion, a €750 million ($1.16 billion), and an aggregate of MXN 2.3 billion ($213 million) of Schedule B notes offerings by The Export-Import Bank of Korea in 2008.
Korea Development Bank. We advised the lead managers on a $1 billion Schedule B offering of notes by Korea Development Bank.
Korea District Heating. We advised the arrangers on a $3 billion establishment of a global medium-term note program under Rule 144A/Regulation S by Korea District Heating, an entity owned by the Korean government and the largest district heating provider in Korea.
Korea Hydro & Nuclear Power. We advised the lead arranger on a $2 billion establishment of a global medium-term note program under Rule 144A/Regulation S by Korea Hydro & Nuclear Power.
Korea Railroad (KORAIL). We advised the initial purchasers on $300 million offering and $200 million reopening of Rule 144A/Regulation S senior notes by KORAIL, the sole national railroad operator of Korea.
Korea Southern Power (KOSPO). We advised the initial purchasers on $300 million Rule 144A/Regulation S offering of notes by KOSPO, a Korean electricity transmission and distribution company.
Taewoong. We advised the global coordinator on a $75 million Rule 144A/Regulation S offering of GDSs by Taewoong, a Korean manufacturer of open-die forged products.

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Notable Matters – M&A

Polo Ralph Lauren/Doosan. We advised Polo Ralph Lauren, a designer, marketer and distributor of apparel, accessories and luxury goods, on its agreement to assume direct control of its wholesale and retail distribution in Korea, from its licensee, Doosan, beginning January 1, 2011.
Webzen/NHN Games. We advised Webzen on its $214 million merger with NHN Games Co. Both companies are Korean developers and service providers of massively multiplayer online games.
Areva/Korea Hydro/SET. We advised Areva, the French world leader in the nuclear industry, in connection with the setting-up of a partnership with the Korea Hydro & Nuclear Power Co. with respect to SET, the subsidiary within the Areva Group that is to operate the new uranium enrichment plant that is being built in the South of France.
Nautilus Hyosung/Dover. We advised Nautilus Hyosung, a subsidiary of South Korea-based Hyosung Corporation and a global manufacturer of complete ATM solutions, including hardware, software and services to the entire ATM market, on its unsuccessful acquisition of Triton Systems of Delaware, a global provider of ATMs, from Dover Corporation, a global portfolio of manufacturing companies. The financial terms of the transaction were not disclosed.