Shipping: Finance
Asia-Pacific Guide 2025 : South Korea
Band 2
Email address
[email protected]Contact number
+82 2 3404 0000About
Provided by Bae, Kim & Lee LLC
BKL’s Maritime Practice Group is comprised of professionals who have amassed substantial experience in both the “wet” aspects of maritime and aviation matters as well as the “dry” aspects which naturally coexist in trade and transport cases. Our maritime lawyers are acknowledged in the legal community as leaders in handling claims related to collisions, oil pollution, cargo loss and damage, hazardous cargoes, bills of lading, and personal injury to seamen or passengers.
In addition to the claims handling matters mentioned above, our maritime practice includes consulting, documentation and dispute resolution services related to insurance, trade disputes, ship financing, ship building and investment, ship arrests and release, maritime liens, auctions of cargo or vessel, and salvage.
Our maritime group has a wide domestic and international clientele primarily consisting of shipowners, banks, insurance companies, trading companies and numerous P&I clubs. In order to provide these clients with highest quality legal service, we maintain close ties with Korean shipping-related associations and rely on several “Of Counsel” members who provide additional in-depth analysis and facilitate cost-efficient service to clients. We often draw upon the extensive network of contacts we have established with prestigious law firms overseas to jointly advise and act for clients in deals that involve foreign parties.
Chambers Review
Bae, Kim & Lee has an experienced legal team, frequently instructed on wet and dry disputes, with areas of focus ranging from charter party and shipbuilding disputes to collisions and cargo claims, advising cargo owners and marine insurers. The team also handles shipping finance work, such as advising domestic export credit agencies on long-term export policies. The practice is additionally noted for vessel arrests in South Korea and advises various shipping clients on general corporate law and day-to-day vessel operations. It also acts on vessel sale and purchase matters.
Work Highlights
- Bae, Kim & Lee advised on HMM's acquisition of several VLCCs, including advising on negotiations with the previous owners and their lenders on discharging the loan and security created over the VLCCs.
- Bae, Kim & Lee advised Array on its insurance claims arising from damages to steel cargo against AIG Insurance for payment of insurance proceeds.
Strengths
Provided by Chambers
"Bae, Kim & Lee shows excellent expertise in marine vessels."
"The team is always quick to respond, liaising with clients quickly and precisely."
"Bae, Kim & Lee shows excellent expertise in marine vessels."
"The team is always quick to respond, liaising with clients quickly and precisely."
Notable Practitioners
Park Yoon Jeong co-heads the department at Bae, Kim & Lee and is a senior foreign attorney who can count several P&I clubs, shipbuilders and shipping companies among her clients. She frequently handles international arbitration proceedings arising out of both wet and dry shipping disputes. She is a fluent English speaker.
"Park Yoon Jeong is a first-rate lawyer with excellent communication skills."
