Insurance
Asia-Pacific Guide 2025 : South Korea
Band 2
Email address
[email protected]Contact number
+82 2 772 4000About
Provided by Lee & Ko
Lee & Ko’s Insurance & Reinsurance Practice Group has a solid reputation for consistently providing top tier legal services in three main areas of practice including regulatory compliance, dispute resolution, and transactional matters for local and foreign clients throughout the world.
Lee & Ko has advised a notable Korean life insurer on its defence against monetary sanctions imposed by the Financial Supervisory Service that has received considerable press attention. In regards to dispute resolution matters, it is currently representing a leading Korean construction company on its potential insurance claim dispute against a major Korean non-life insurer over property damage arising from explosion of ESS equipment. Recent noteworthy transactional matters of Lee & Ko include, without limitation, acquisition by the largest broker worldwide of a UK-based competitor with a global transaction value of USD 5.6 billion.
From top to bottom, the Insurance & Reinsurance Practice Group is comprised of a diverse group of professionals including Korean and foreign attorneys, senior advisors, accountants and consultants with former officials from the Financial Services Commission, Financial Supervisory Service, the National Tax Service as well as other governmental bodies. It has the specialist insurance knowledge clients would expect of a market leading insurance team, coupled with a well-rounded view of the sector to provide clients with commercial advice in the most efficient manner.
Chambers Review
Lee & Ko has a leading full-service legal offering for insurance claims, disputes and regulatory advice in South Korea, with an impressive client roster of prominent insurers and reinsurers. The firm is especially active in claims relating to life insurance and major accidents. It also advises clients in the insurance industry on M&A transactions, licensing, insurance product development and data protection. The team includes former members of the Financial Supervisory Service and other financial authorities. It draws on additional expertise from the firm's shipping and aviation practice groups.
Work Highlights
- Lee & Ko advised SK Ecoplant Co. and Smart Rail Co on an ongoing insurance dispute arising from construction damage relating to the Bujeon-Masan double-track railway private investment project.
Strengths
Provided by Chambers
"Lee & Ko demonstrates seamless cooperation and resource allocation between teams. I was pleased with the high-quality advice, depth of knowledge and overall responsiveness."
"Lee & Ko demonstrates seamless cooperation and resource allocation between teams. I was pleased with the high-quality advice, depth of knowledge and overall responsiveness."
Notable Practitioners
Jung Jinyoung has extensive experience in the insurance industry in South Korea. He is highly respected for his expertise in marine insurance, as well as in other areas such as energy and natural resources. Jung Jinyoung often handles disputes relating to insurance.
Kwon Jin-Hong heads Lee & Ko's insurance practice and is a member of the financial services and compliance division. He leverages wide-ranging expertise in the insurance sector in South Korea, acting on a variety of regulatory compliance, transactional and contentious mandates. He remains a popular choice among domestic insurance corporations.
"Kwon Jin-Hong provides the best service in a timely manner based on an excellent communication ability with clients and strong expertise."
Yoon Yang Ho assists clients on various contentious and regulatory matters, and is particularly active undertaking insurance claims. His client roster includes domestic insurers and corporates. Yoon Yang Ho also possesses expertise in contentious advisory matters and litigation.
"Yoon Yang Ho has accurate, professional knowledge of insurance claim issues and can solve sophisticated insurance problems with a strong strategic approach."
"Yoon Yang Ho has accurate knowledge and is familiar with various legal precedents relevant to the case."
Ranked Lawyers at
Lee & Ko
South Korea
Members
Provided by Lee & Ko