Shin & Kim foresees a substantial surge in legal demand amid mounting worries about defaults in real estate project financing (PF). To meet this demand, Shin & Kim has established the Corporate Restructuring Center, staffed with top experts boasting extensive experience in the field. This center is designed to handle a spectrum of tasks, including the revision of PF-related contracts, debt restructuring, collateral enforcement, foreclosure, and auction procedures, as well as addressing diverse scenarios such as workouts, recovery, and bankruptcy.

The Corporate Restructuring Center at Shin & Kim comprises over 50 specialized attorneys across various fields, including real estate alternative investment, bankruptcy, corporate advisory & M&A, and financial regulation. These professionals have extensive experience in handling restructuring cases for construction companies and financial institutions, dating back to major events such as the Lehman Brothers crisis and the savings bank crisis. They have also successfully advised on corporate improvement projects, workouts, and bankruptcy cases for financial institutions and trust companies since the IMF financial crisis. With their wealth of experience and deep understanding of the latest laws and practices, they can provide comprehensive advice from the early stages prior to debt default and EOD to the completion of procedures, including auctions, dividend dispute resolution, and bankruptcy proceedings.

Leading the Corporate Restructuring Center is Attorney Kyung Don Lee, acclaimed for his profound expertise in bankruptcy, workouts, non-performing loan (NPL) transactions, real estate development, and real estate project financing (PF). Other prominent members include: Attorney Yong-Seok Park, with over 20 years of experience in bankruptcy and corporate restructuring, known for setting significant precedents in the field; Attorney Bok-Gi Choi, recognized for his pivotal role in successful recovery procedures and M&A transactions, earning widespread market acclaim; Attorney Young-Geun Kim, actively involved in bankruptcy law activities in both Korea and Japan; and Attorney Jae-Ha Lee, playing a crucial role in various cases, particularly those showcasing diverse trends pre and post the COVID-19 pandemic, including recent noteworthy workout cases.

Additionally, the team includes diverse experts and numerous specialists in real estate project financing (PF). Among them are Attorney Suk Lee, who recently managed significant debt restructuring projects in large-scale real estate development; Attorney So Youn Kim, who has actively handled complex corporate restructuring and bankruptcy-related litigation, leading several landmark cases; Attorney Mu Young Yu, who brings extensive experience in delisting procedures; and Attorney Kyung Ok Song, who has expertise in various restructuring practices from working at the Financial Supervisory Service and NPL/corporate restructuring institution Uamco. Moreover, Attorney Yeon Woo Choi specializes in corporate restructuring advisory services.

In workout-related cases, it is common to encounter interpretive difficulties due to the lack of court precedents. Attorney Jin-Ho Jeong, who has handled numerous workout cases and has been involved in the very few existing workout-related precedents in Korea, is part of the Corporate Restructuring Center. He provides deep and practical legal advice based on his extensive litigation experience. Notably, in February 2024, Attorney Dong-Kyu Kim, an expert in corporate restructuring, joined the team. Attorney Kim has served as a judge at the Seoul High Court and the Supreme Court, and as Chief Judge of the Bankruptcy Division at the Suwon District Court and the Seoul Bankruptcy Court, where he handled rehabilitation and bankruptcy procedures for companies such as Seoul Mungo, Optimus Asset Management, Pos-Link. His addition ensures meticulous preparation and comprehensive advice to prevent unforeseen damages during court proceedings.

As the Corporate Restructuring Center of Shin & Kim has successfully advised on all recent workout cases in a market where there had been none for the past decade, a growing consensus has emerged among stakeholders that Shin & Kim LLC is the only law firm with the expertise and capability to resolve the complex practical issues associated with workout cases.