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Practice Area|Finance

IPO & Capital Markets

Since its inception in 2000, Jipyong’s Capital Markets Team has been involved in capital markets as an advisor to the Korea Financial Investment Association. Since then, we have expanded our services to listing on the overseas exchanges or offshore tranche offerings for diverse clients including Mirae Industries, Shinhan Financial Group, NHN, Jinro and Millinet Solar. We, in particular, successfully represented KOLAO Holdings, the biggest Korea-based company in Laos, in listing on the securities exchanges and issuing GDR (listing on the Singapore Exchange, and represented the U.S. New Pride Corporation, the first U.S. company that was listed on Korea Exchange. We also represented several Vietnamese corporations in listing on Korea Exchange, including LS Cable & System Asia Ltd. and Hwaseung VINA, a Vietnamese subsidiary of Hwaseung Enterprise Co., Ltd. During the provision of these legal services, we have accumulated experience in close cooperation with many global law firms. Now, we are advising foreign biosimilar companies including Nanogen (Vietnam), Prestige BioPharma (Singapore) and Exbon (the U.S.) on KOSDAQ listing. Recently, we have demonstrated our outstanding expertise in the ECM markets, by successfully representing numerous domestic companies such as Settlebank, Pum-Tech Korea, Suprema ID, SP Systems, OliPass, ICure, T&R Biofab, Bifido, Cytogen, and Genofocus in IPO. In addition, we continue to advise mid-sized companies on financing through paid-in capital increase, and issuance of RCPS, CB, etc.

The Capital Markets Team has strengthened its capacity in responding to delisting, as well as its existing ECM capacity, by scouting former executives and managers in charge of listing, substantive examination on delisting, and disclosure. With our attorneys specialized in capital market and accountants, now we have the best experts in dealing with delisting examination against listed companies. Leveraging its expertise, our Capital Markets team has successfully represented corporate clients in matters related to delisting examination since 2017. Our clients include ChinHung International, STX, BIF Korea, Nanos, Mason Capital, MP Group, WI, Sehwa IMC, KD E&C, DECO&E, and Barun Electronics.

This outstanding expertise led us to participate in the production of guidebooks on listing examination for IPO published by the Korea Exchange, and to serve as a consultant for KDR issuance by the Korea Securities Depository. In addition, Jipyong served as an advisor to the Korean Financial Supervisory Service, and is currently advising Korea Exchange as an advisor. Furthermore, Jipyong has secured a lot of advisors, attorneys and specialists with the ability to provide professional consulting services, who formerly served in the Financial Services Commission, or who served as senior executives at the Financial Supervisory Service. Many of our attorneys are also working as market watchdogs, members of public disclosure and corporate review institutes.

In addition, Jipyong’s Capital Markets Team performs various tasks for the globalization of the Korean capital markets through close cooperation with our overseas offices. The followings are the representative cases: we advised the establishment of stock exchanges in Cambodia and Laos; we are proceeding with a number of local IPOs for Cambodian companies including PPWSA in Cambodia; and we, together with Korea Exchange, successfully conducted legal research services for legislation of securities law of Laos and the legal research services for development of securities market in Cambodia. We will continue to support and provide legal advice on the exchange of capital markets in East Asia, spreading the Korean Wave in the financial sector.

Moreover, Jipyong’s Capital Markets Team also provides various advisory services regarding administrative, criminal and civil issues, including securities-related class action, injunctive relief against the substantive examination on delisting, and responding to supervisory authorities regarding unfair trade practices and disturbances in the market order.

Key Practice Areas Close

    • Preparation and negotiation of various declarations and contracts related to issuing domestic and foreign securities
    • IPO of domestic and foreign companies
    • Public offering and listing of Korean companies in foreign stock markets and issuance of GDR
    • Issuance of equity-linked securities such as CB, BW, RCPS
    • Countermeasures to delisting examination
    • Countermeasures to corporate examination caused by adverse opinion of auditor
    • Interpretation of laws related to the Financial Investment Services and Capital Market Act, development of new products, government relations regarding investor protection
    • Disputes regarding unfair trade practices, violation of disclosure obligations and class action on securities

Experiences Close

    [Advice on IPO of Korean Companies]

    • Advised KIWOOM Securities Co., Ltd. on PSK Holdings’ split-off, merger, and re-listing on the KOSDAQ market
    • Advised Korea Investment & Securities Co., Ltd., Shinhan Investment Corp., and Settlebank on Settlebank’s listing on the KOSDAQ market
    • Advised Korea Investment & Securities Co., Ltd. and Pumtech Korea on listing on the KOSDAQ market
    • Advised Korea Investment & Securities Co., Ltd. and Suprema ID on listing on the KOSDAQ market
    • Advised Korea Investment & Securities Co., Ltd. and SP Systems on listing on the KOSDAQ market
    • Advised Korea Investment & Securities Co., Ltd. and Xi S&D Inc. on listing on the Securities Exchange
    • Advised KIWOOM Securities Co., Ltd. and Olipass Corp. on listing on the KOSDAQ market
    • Advised Mirae Asset Daewoo and Laon People Co., Ltd. on listing on the KOSDAQ market
    • Advised Mirae Asset Daewoo and THiRa-UTECH on listing on the KOSDAQ market
    • Advised Mirae Asset Daewoo and KNJ on listing on the KOSDAQ market
    • Provided Korea Investment & Securities Co., Ltd. and Befido Co., Ltd. on the listing (IPO) on KOSDAQ
    • Advised Kiwoom Securities Co., Ltd. on their listing (IPO) on KOSDAQ
    • Advised Mirae Asset Daewoo and SV Investment Co., Ltd. on their listing (IPO) on KOSDAQ
    • Advised Mirae Asset Daewoo and Newtree Co., Ltd. on their listing (IPO) on KOSDAQ
    • Advised Kiwoom Securities and T&R Biofab on their listing (IPO) on KOSDAQ


    [Overseas IPO of Korean Companies, Public Offering of Overseas Securities and Capital Market]

    • Advised Kolao Holdings on issuance of GDRs for USD 150 million on Singapore Exchange
    • Represented Korea Exchange for investment in Cambodia Exchange for a joint project between Korea and Cambodia
    • Advised Korea Exchange on the establishment of securities exchanges in Cambodia and Laos
    • Advised Dongyang Investment Bank on the listing (IPO) of Phnom Penh Water Supply Authority, a state-owned company, on Cambodia Securities Exchange


    [Advised on response to an examination for De-listing]

    • Advised SAEHWA IMC on its response to a corporate examination by the Securities Exchange
    • Advised WI Inc. on its response to a corporate examination by the KOSDAQ market
    • Advised KD on its response to a corporate examination by the KOSDAQ market
    • Advised Barun Electronics Co., Ltd. on its response to a corporate examination by the KOSDAQ market
    • Advised Deco & E on its response to a corporate examination by the KOSDAQ market
    • Advised Chinhung International Inc. on the examination for de-listing on the stock exchange
    • Advised STX on the examination for de-listing on the stock exchange
    • Advised BIF on the examination for de-listing on the stock exchange
    • Advised Nanos Co., Ltd. on the examination for de-listing on KOSDAQ
    • Advised MP Group on the examination for de-listing on KOSDAQ
    • Advised GD on the examination for de-listing on KOSDAQ
    • Advised Mason Capital on the examination for de-listing on KOSDAQ


    [IPO of Foreign Companies in Korea]

    • Advised LS Cable & System’s subsidiary in Vietnam on its listing on the securities market at the Korea Exchange
    • Advised the Vietnamese corporation of Hwaseung Enterprise on listing on the KOSPI Market of the Korea Exchange
    • Advised New Pride Corporation, a United States-based company, on its listing on the KOSDAQ market
    • Represented Laos’ Kolao Holdings, a Korean-owned business, in an IPO on the Korea Exchange


    [Advice to Competent Authorities on IPO]

    • Participated in Korea Exchange’s IPO Guidebook TF (2011-2015)
    • Conducted legal research for Indonesia/Vietnam Companies’ Listing on the Korea Exchange (2016)
    • Adviser to the Korea Exchange (current)
    • Advisor to the Korean Financial Supervisory Service (current)
    • Advisor to the Korea Securities Depository (2010)
    • Advisor to the Korea Financial Investment Association (2003-2012)
    • Involved in enactment of the Financial Investment Services and Capital Market Act (2007) and TF for revision (2014)