Capital Markets

"BKL is an excellent firm with exceptional expertise in the field."

- Chambers & Partners Asia-Pacific

Overview

BKL is a leading Korean law firm in the capital markets area, continuously having been selected to represent the largest and most well-known clients in some of the most high-profile capital market transactions, including IPOs, domestic and overseas listings and various kinds of securities offerings, with sophisticated transactional structures and the newest financing techniques. BKL offers practical legal advice and solutions to some of the most complicated issues based on its deep understanding of the applicable laws and practice, as well as the recent stance taken by the regulatory authorities on intricate issues. In recognition of BKL’s expertise in this area, its Capital Market Team has been consistently ranked as a Tier 1 expert in capital markets by world-renowned legal media organizations, including the Chambers, IFLR, Legal 500 and ALB.

Full Spectrum of Advisory Services covering All Types and Aspects of Capital Markets Transactions

As a legal advisor, BKL has been engaged in a wide range of high-profile equity capital market transactions including, among others, Korean and overseas IPOs by domestic and foreign enterprises, foreign stock exchange listings by domestic enterprises, concurrent dual-listings on both the Korea Exchange and an overseas stock exchange, and issuance of offshore Depository Receipts (DR), which have received significant market attention. Further, BKL has been advising Korean government agencies and organizations, public corporations, financial institutions and other general corporations on various types of debt and hybrid capital market transactions such as issuance of domestic and foreign bonds including equity-linked securities, convertible bonds, exchangeable bonds, bonds with warrant, and other hybrid securities, as well as block trades of such securities. In particular, BKL has been a pioneer in advising on public offerings and listings of REITs. In acting for such capital markets transactions, BKL provides comprehensive advisory services from the inchoate stage of structuring the transaction, through negotiation of trade terms and drafting and execution of contracts, to the consummation of the transaction and beyond.

Providing Practical Solutions Based on High-Quality Expertise and Experience of Professionals from Various Areas of Capital Markets

BKL understands that advising on capital markets transactions and regulations requires a good understanding of not only the laws and regulations, but also market trends and clients’ economic needs. BKL’s Capital Market Group has a long distinguished track record of dealing with various aspects of capital market transactions and regulatory requirements, allowing it to better understand the clients’ needs as well as the current market situation, based on which it is well positioned to offer tailored and to-the-point legal advice and practical solutions to clients. Furthermore, BKL also work with highly-qualified professionals who have extensive experience with various capital markets related government organizations and public institutions, such as the Ministry of Economy and Finance, the Financial Services Commission, the Financial Supervisory Service and the Korea Exchange, which augments its ability to provide practical advice that would also be more feasible and realistic from a regulatory and compliance perspective. Having extensive experience in advising on  cross-border capital markets transactions with foreign features, BKL is also highly regarded for being able to advise on capital markets deals and/or transactions with foreign elements through its highly qualified professionals with relevant foreign expertise and experience, and its network developed with foreign law firms, thereby ensuring that its legal advice and solutions can be congruent with, and seamless integrated with, the legal requirements and practices of such foreign jurisdiction.
 

Key Services

IPO/Listing on Korea Exchange
By Korean companies with/without an international tranche
By foreign companies, including those in the US, Japan, South East Asia and China
By REITS and other funds
Depositary Receipt Offering/Listing on Foreign Exchange
By Korean companies on major foreign stock exchanges (including NASDAQ)
By foreign companies with a Korean nexus (requiring due diligence in Korea or advice on Korean regulatory matters)
Other Equity Securities Offering
By Korean companies as part of capital increase or third party allotment exercise
By foreign companies to Korean investors
Block trades of shares listed on the Korea Exchange
Debt Securities Offering
Bond offerings with/without an international tranche
Foreign currency bonds, such as Panda/Dimsum bonds, Samurai/Shogun bonds, Formosa bonds, Kangaroo bonds, Swiss-Franc bonds, etc
Program set-up, update and takedown of term notes listed on foreign exchanges, such as the Singapore Exchange, Luxembourg Exchange, etc
Social bonds, green bonds, water bonds, etc.
Sovereign bonds, including foreign exchange equalization bonds
Equity linked bonds, such as convertible bonds, bonds with warrants and exchangeable bonds
Debt securities as part of alternative investment
Debt securities issued by non-Korean issuers in Korea (Arirang/Kimchi bonds)

Representative Cases

SK Biopharmaceuticals Co., Ltd.
LOTTE REIT Co., Ltd.
The Republic of Korea foreign exchange equalization bonds
IPOs on Korea Exchange by Korean issuers
Big Hit Entertainment Co., Ltd.
Kakao Games Corp.
SK Biopharmaceuticals Co., Ltd.
Hyundai Energy Solutions Co., Ltd.
Hanwha Systems Co., Ltd.
EcoPro BM Co., Ltd.
Jin Air Co., Ltd.
Celltrion Healthcare Co., Ltd.
Samsung Biologics Co., Ltd.
LIG Nex1 Co., Ltd.
Innocean Worldwide Inc.
Daum Kakao (currently Kakao Corp.) (merger and backdoor listing)
Cheil Industries Inc. (currently Samsung C&T Corporation)
IPOs on Korea Exchange by foreign issuers
Psomagen, Inc., a U.S. company
Englewood Lab, Inc., a U.S. company
Organic Tea Cosmetics Holdings Company Limited, a China based company
Great Rich Technologies Limited, a China based company
Access Bio, Inc., a U.S. company
LS Cable & System Asia, a Vietnamese based holding company
Doosan Bobcat Inc., a holding company with operations globally in numerous jurisdictions
REITs public offerings on Korea Exchange
Miraeasset Maps REIT 1 Co., Ltd.
Koramco Energy Plus REIT Co., Ltd.
JR Global REIT
NH Prime REIT Co., Ltd.
LOTTE REIT Co., Ltd.
Shinhan Alpha REIT Co., Ltd.
Overseas listing and offering of depositary receipts by Korean issuers
Kakao Corp. (GDRs listing on the Singapore Exchange)
Hanwha Chemical (currently part of Hanwha Solutions Corporation) (GDRs listing on the Singapore Exchange)
Industrial Bank of Korea (GDRs listing on the Luxembourg Stock Exchange)
OCI (GDRs listing on the Singapore Exchange)
Youngone Corporation (GDRs listing on the Singapore Exchange)
Hynix Semiconductor (now known as SK Hynix) (GDRs listing on the London Exchange)
Interpark G-Market (now known as E-Bay Korea) (ADRs listing on the NASDAQ)
Overseas debt securities offerings by Korean issuers
The Republic of Korea foreign exchange equalization bonds
The Korea Development Bank foreign currency bonds
NongHyup Bank anti-COVID-19 social bonds
GS Holdings shogun bonds
Korea Electric Power Corporation foreign currency bonds under its GMTN program
Export-Import Bank of Korea Swiss franc bonds under its GMTN program
SK Hynix Inc. EUR bonds
LG Display Co., Ltd. convertible notes
Hanwha Q CELLS Korea Kimchi bonds
Hanwha Chemical Corporation’s (currently part of Hanwha Solutions Corporation) floating-rate notes/Samurai bonds
The Korea Development Bank’s issuance of Kangaroo bonds
Korea Water Resources Corporation water bonds (first of its kind by an Asian company)
Kookmin Bank Formosa bonds under its GMTN program
LG Chem Ltd. foreign currency convertible bonds and listing thereof on the Vienna Stock Exchange
LG Display Co., Ltd. green bonds
Hankook Tire & Technology Co., Ltd. foreign currency convertible bonds and listing thereof on the Singapore Exchange
Other securities offerings by foreign companies
Rothwell International Co., Limited capital increase
Access Bio, Inc. convertible notes and exchangeable bonds
Kolao Holdings GDRs listing on the Singapore Exchange
CKH Food & Health Limited bonds with warrants

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