Recent Developments

On March 10, 2025, Legal News published a detailed report on the “2025 First-Half Industrial Relations Response Seminar” hosted by Lee & Ko. According to Legal News, "the seminar featured three sessions focusing on recent legal issues, including labor commission matters, Supreme Court precedents, and the Serious Accidents Punishment Act, providing practical insights into corporate response strategies." The article further highlighted that: Session 1 featured Seong-ho Kim, Chairman of the Seoul Regional Labor Relations Commission, who presented on 'The Current Status, Role, and Future Direction of the Labor Commission.' Session 2 was led by Young-jin Kim, a former research judge at the Supreme Court and current attorney at Lee & Ko, who discussed 'Recent Supreme Court Stance on Labor Cases and Future Outlook.' And Session 3 was presented by Sang-hyun Lee, a former Chief Prosecutor of the Gyeongju Branch of the Daegu District Prosecutors’ Office and now an attorney at Lee & Ko, who addressed 'Safety Management Strategies for Subcontractors in Light of Recent Investigations and Judicial Precedents.'

On March 2, 2025, the Korea Economic Daily highlighted the growing influence of female attorneys at Lee & Ko, noting, “Hyunjoo Oh, a leading partner in Lee & Ko, distinguishes herself as the sole female member of its management committee, while Elizabeth Shin, a foreign attorney, is recognized as one of the top performers in international arbitration practice."

February 28, 2025
An interview with Tae Jung Kim and Hee Woong Lee, Lee & Ko’s attorneys, was featured in EDAILY. In response to questions about the upcoming shareholders' meeting season in March, they stated, "Individual investors' interest in the capital market has significantly increased compared to the past. As a result, there is greater attention on shareholders' meetings, and recently, approval of executive compensation limits and the actions of minority shareholders have become key issues."

Additionally, Tae Jung Kim emphasized, "Recent lower court rulings have suggested that the voting rights of major shareholders on matters such as executive compensation limits should be restricted even in cases of compensation limits for registered executives," noting that if the Supreme Court confirms such rulings, there will likely be increased pressure from minority shareholders. As such, he further stressed that companies should thoroughly prepare in advance to gain the support of external shareholders by establishing reasonable decision-making criteria.
 

On February 26, 2025, the Korea JoongAng Daily reported that Lee & Ko appointed Partner Ho Joon Moon, a member of the Management Committee, as the new Managing Partner of the Corporate Group and named Partners Chang Ho Seong and Dong Seok Woo as new members of the Management Committee. 

Following a firm-wide meeting, Lee & Ko confirmed the appointment of Mr. Moon as the Managing Partner of the Corporate Group. Since joining the firm in 2001, he has built a distinguished career in corporate law, amassing extensive expertise across a wide spectrum of corporate matters. Having served on the Management Committee since 2022, he has earned strong internal support for his exceptional leadership and strategic acumen, which helps culminate in his appointment to this key role.

In addition, Mr. Seong, an alumnus of Seoul National University College of Law, joined Lee & Ko in 2023 after a well-respected 24-year judicial career. His experience spans key roles, including the Director of Personnel Affairs at the National Court Administration and a presiding judge at the Secretariat for the Chief Justice of the Supreme Court of Korea, as well as at the Seoul Central District Court. Leveraging his comprehensive knowledge in judicial administration and litigation, he currently handles a wide range of trial and advisory matters.

Mr. Woo, another newly appointed committee member, is a seasoned practitioner with 22 years of experience in acquisition finance and real estate, with a track record of advising on high-profile cases since his arrival at the firm in 2004. He is also widely recognized for his deep expertise in various cross-border investments.

February 12, 2025
EDAILY reported on a seminar titled "Discussion on Practical Issues Related to Shareholders' Meeting Preparation and Operations in In-house Practice," jointly hosted by Lee & Ko and the In-house Counsel Association. The seminar was conducted as a town hall meeting, where Lee & Ko’s lawyers Tae Jung Kim and Hee Woong Lee, along with other lawyers from the Korean In-house Counsel Association, freely exchanged opinions on various relatively small topics based on pre-submitted questions from attendees. The seminar began with the issue of “special interests in the approval of director compensation limits,” which has recently become an important issue due to a series of lower court rulings that conflict with existing practices, and continued with heated discussions on a variety of issues, including “proxies for reviewing proxy statements, including electronic proxy statements,” which is still in the introduction stage, “problems with responding to general meeting attendees,” which is a frequent issue related to general meetings, and “problems with responding to issues raised by minority shareholders,” which is becoming increasingly more severe.
 

On February 11, 2025, Yonhap News reported that HSBC (The Hongkong and Shanghai Banking Corporation Limited), represented by Lee & Ko, was acquitted by a Korean court of charges related to violations of Korea’s capital markets laws for allegedly engaging in illegal short selling worth KRW 16 billion.

According to Yonhap News, the court acknowledged that while Korea’s short-selling regulations require stocks to be borrowed, or their availability confirmed, before executing a short sale, HSBC’s system only verified borrowability retrospectively. However, the court ultimately ruled that there was no evidence proving that the bank’s employees knowingly engaged in naked short selling in violation of regulations.

On January 30, 2025, the Korea Economic Daily issued a featured article on Lee & Ko’s outstanding performance in 2024, noting, “Lee & Ko achieved KRW 411.1 billion in revenue last year, marking a 10.4% year-on-year increase, and became the first-ever law firm, aside from the established market leader Kim & Chang, to surpass KRW 400 billion in annual revenue.” The article also highlighted, “Lee & Ko effectively led corporate restructuring transactions, such as the KRW 6.45 trillion merger between SK Innovation and SK E&S, and obtained consecutive acquittals in the embezzlement case of SPC Group Chairman Young In Hur and the antitrust violation case involving former Hanssem Chairman Yang Ha Choi.”

On January 24, 2025, Invest Chosun issued a featured article on Lee & Ko’s outstanding performance in 2024, noting, “Lee & Ko earned the title of the first Korean law firm to exceed the KRW 400 billion threshold in annual revenue, outpacing Bae, Kim & Lee in terms of value-added tax declared amount for four consecutive years. In addition to Lee & Ko IP's annual revenue of KRW 16.8 billion last year, the firm generated a total of KRW 427.9 billion in revenue.” It also highlighted that “Lee & Ko undertook SK Group’s restructuring efforts and provided corporate advisory services to facilitate a merger between CJ ENM’s Tving and Wavve. In criminal defense, the firm successfully obtained acquittals in the embezzlement case of SPC Group Chairman Young In Hur and the antitrust violation case involving former Hanssem Chairman Yang Ha Choi, credited to the expertise of both former judge Chang Ho Seong and Da Joo Jung.”

On January 24, 2025, the Korea Economic Daily reported Lee & Ko to be the first Korean law firm to surpass KRW 400 billion in revenue, highlighting, “Lee & Ko achieved KRW 411.1 billion in revenue last year, marking a 10.4% growth rate with a robust recovery. It is noteworthy that the firm became the first-ever law firm in Korea to surpass the KRW 400 billion mark and showcased its exceptional performance in mergers and acquisitions as well as criminal defense. In particular, its seasoned attorneys effectively led corporate restructuring transactions in the KRW 6.45 trillion merger between SK Innovation and SK E&S and obtained acquittals consecutively in the embezzlement case of SPC Group Chairman Young In Hur and the antitrust violation case involving former Hanssem Chairman Yang Ha Choi.

On January 22, 2025, an article by Lee & Ko partner Byong Ki Chung was published in the Korean Economic Daily. In Mr. Chung’s article titled “Without knowledge of collusion, there may liability for damages…Will the National Pension Service file shareholder derivative lawsuit”, he explained that, “There is a surge in shareholder derivative lawsuits against companies issued administrative fines by the Korea Fair Trade Commission for collusion; and companies should be on high alert, especially considering the court decision recognizing that even without direct knowledge of collusion, CEOs may be liable for damages.” He added, “Although the National Pension Service has yet to file a shareholder derivative lawsuit related to collusion, this could change with a shift in politics or a shareholder protectionist movement, thus making it prudent for companies to exercise caution. As the basis for holding CEOs liable has strengthened significantly, it is of the utmost importance to establish an effective compliance monitoring system beyond that of formal systems of internal controls.” 

On January 20, 2025, the Legal Times published a featured article on Lee & Ko’s stellar performance and achievements in 2024, noting, “Lee & Ko unveiled an estimate of KRW 411.1 billion in revenue for 2024, surpassing the KRW 400 billion threshold for the first time since its establishment in 1977. According to the firm, this recording-setting growth, a 10% year-on-year increase from KRW 372.3 billion, is majorly driven by the strong rebound of its M&A advisory services in the second half of the year and the outstanding performance of the Criminal Defense (Litigation) Team in handling high-profile criminal cases involving major entrepreneurs and others.” The article also underscored that, “Amid the downturn in the M&A market, Lee & Ko’s seasoned M&A Team spurred revenue growth by playing an active role in corporate restructuring transactions, namely the KRW 6.45 trillion merger between SK Innovation and SK E&S and Air Incheon’s acquisition of cargo planes from Asiana Airlines. Alongside these accomplishments, the firm is beginning to see tangible outcomes from a three-year-long, proactive strategic effort spearheaded by Managing Partner Sang Gon Kim, which centers on reinforcing specialized teams, such as revamping and expanding its conventional Financial Compliance Team, introducing new teams dedicated to security token offerings, aerospace, and platform compliance, and launching the International Dispute Resolution Group.”

On January 15, 2025, JoongAng Ilbo reported comments from Lee & Ko attorney Mr. Young-jin Kim of Lee & Ko, regarding the Supreme Court en banc decision on ordinary wages. Mr. Kim stated, "From the corporate perspective, the inclusion of bonuses in ordinary wages has suddenly increased total wage payments this year, making this year’s wage negotiations a pressing issue. Companies may need to negotiate measures such as reducing overtime to cut labor costs or increasing the proportion of performance-based pay, which is excluded from ordinary wages."