Shipping: Finance
Asia-Pacific Guide 2024 : South Korea
Band 2
Email address
[email protected]Contact number
+ 82 2 3703 1114About
Provided by Kim & Chang
The Maritime Practice of Kim & Chang is comprised of professionals, including Korean and foreign lawyers, with expertise in a complete spectrum of cross-border/multijurisdictional maritime law matters, including ocean policy, fisheries, port and marine leisure.
Building on the experience gained through various major shipping cases, our Practice covers regulation of the shipping industry, ocean, fisheries, port terminal and authorities, aviation and other transportation law-related issues, marine insurance and reinsurance, shipbuilding and off-shore facilities, and ship sale & purchase contract disputes as well as international commodities and trade disputes.
The in-depth knowledge and hands-on experience of our Practice’s senior members combined with the diverse work force and broad-based access to other specialized expertise of Kim & Chang makes us a leader in providing clients with tailored service custom fit for the needs of the client and the case.
The Ship Finance Practice, with around 20 dedicated attorneys and specialists that are supported by a team of experienced paralegals, offers a practical, integrated, and multidisciplinary approach to ship finance transactions. Our firm provides a comprehensive solution to ship finance needs in various areas including, mergers and acquisitions, insolvency, regulatory issues on foreign exchange, tax, customs disputes on energy, and accounting issues of various domestic and foreign shipping and shipbuilding companies.
Chambers Review
Kim & Chang has a market-leading legal practice with excellent capabilities in financing and contentious maritime matters in South Korea. The team advises an impressive range of high-profile shipbuilders, P&I clubs and insurance companies. The practice's dispute capabilities encompass both wet and dry work, and its financing expertise covers new builds and loan transactions. It also assists with insolvency and enforcement actions. The firm is particularly noted for its handling of multi-jurisdictional issues. Its key clients include Korea Shipowners' Association, Samsung Heavy Industry and Korea Development Bank.
Work Highlights
- Kim & Chang acted for SFL subsidiaries ACE 1 and 2 in a dispute with the bareboat charterer over the condition of redelivery of two vessels and the scope of repairs.
Strengths
Provided by Chambers
"The team of lawyers is diverse from senior to junior. In addition, as a very large law firm, they have a lot of experience, references and manpower, so it is very easy to find the best solution."
"The Kim & Chang team is comprised of long-experienced partners paired with associates with a fresh view."
"The team of lawyers is diverse from senior to junior. In addition, as a very large law firm, they have a lot of experience, references and manpower, so it is very easy to find the best solution."
"The Kim & Chang team is comprised of long-experienced partners paired with associates with a fresh view."
Notable Practitioners
Chung Byung-Suk is co-head of Kim & Chang's shipping practice. He covers a wide variety of wet and dry shipping disputes on behalf of P&I clubs, insurance companies and ship owners. Recently he has counselled Korean shipping companies on disputes over losses caused by the inability to fulfil certain transportation contracts due to the US/UK/EU sanctions placed on Russia.
Lee Chul-Won has extensive experience handling shipbuilding, charter party and bill of lading disputes in the Korean market. He is adept at acting for shipbuilders and P&I clubs.
"Based on his experience and knowledge, he has a firm grip on the conduct of the case. Also, he actively conducts discussions and exchanges opinions to proceed in the client's desired direction."
"Mr Lee is a well-balanced and reliable lawyer who I can rely on in a difficult case."
Ranked Lawyers at
Kim & Chang
South Korea
