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Selected among Top Ten Law Firms Amid Restructuring and M&A Law Business in Season

2009.01.21

The Maeil Business Newspaper has selected Jisung Horizon as one of the nation's top ten law firms in Restructuring and in the Mergers and Acquisitions practices. 
 
On the publication issued on January 21st, 2009, the business daily forecasted that this year will be one of the best for law firms to bear fruit in the fields, amid the prospects that it will be one of the all-time worst for any industry. 
 
The daily cited the recently soaring number of companies under court receivership (from 3 in 2005 to 29 in 2007), as well as the government's latest announcement on its intentions to help restore failing businesses. 
 
Featured as the top ten in the nation's legal market alongside Jisung Horizon were the attorneys from powerhouses in the local market, including Shin and Kim and Lee and Ko as well as overseas contenders including Simpson Thacher & Bartlett LLP and Cleary, Gottlieb, Steen & Hamilton. 
 
The daily introduced briefly how one of the managing partners of Jisung Horizon, Mr. Seong Kang, left behind his promising job and began from scratch as a sole practitioner merely nine years ago at a few square meter wide office, to establish himself and his firm as a Cinderella in the market. 
 
The Cinderella reference was complete with journeys that three other attorneys took after also giving up the convenient paths. Mr. Young-Tae YANG, another managing partner, began his career at one of the largest and oldest law firms in Korea before building credentials in Mergers and Acquisitions with success in famous cases such as one involving Lotte Confectionery. 
 
The report called the team led by Mr. Kang and Mr. Yang 'a young blood merging in law market,' while some 30 Korean and 10 foreign attorneys have been taking part in major cases with Meritz Fire and Hite. 
 
The article noted that the restructuring team often works with litigation lawyers to minimize costs incurred by the length of the time until completion. Consisting of some 20 attorneys, the team is led by Mr. Sung-Jun Hong, a former justice with an expertise in the area of restructuring and bankruptcy as well as former prosecutor Mr. Sang-Jun Kim and Mr. Han-Seok MYUNG, also an expert in Chinese law and speaks fluent Chinese. 
 
Mr. Seong-Jin BAE was also cited as another reason why Jisung Horizon is one of the top notch firms in the field. The 39-year old partner has both Korean and New York licenses and is recognized for leaving several precedents in the bankruptcy law from winning significant cases. 
 
Before wrapping up the segment on Jisung Horizon, the article unveiled the list of some big name clients such as CJ, the IFLR's ranking of the firm at third place in Korea, and the fact that the two preceding firms, years before the merger, have a unique history of having produced partners who fought a bloody war as the two archrivals in the latest Seoul mayor election. Jisung's Se hoon Oh, then representing the ruling Grand National Party, won the election against the former Justice Minister Keum-sil Kang in the 2006 election. 
 
[Korean Article Reference]

<ul>
	<li><a href="http://www.jipyong.com/origin/admin/data/bbs/press/090121_mke.pdf" target="_blank">PDF - Maeil Business Economy - Restructuring and M&A Lawyers in Season</a></li>
</ul>

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