IFLR award-Structured Finance Deal of the Year

Shin & Kim received an IFLR award for advising Kookmin Bank on the issuance of covered bonds.

On March 4, 2010, Shin & Kim received the “Structured Finance Deal of the Year” award from the International Financial Law Review Awards for working as Kookmin Bank’s counsel in connection with the issuance of covered bonds.

The issuance by Kookmin Bank of USD1,000,000,000 of Covered Bonds received wide attention from the public not only because this was the first issuance of covered bonds in Korea and Asia, but also because Kookmin Bank was the first Korean commercial bank to successfully issue structured bonds without any government guarantee since the Lehman Crisis. In particular, the Kookmin Covered Bond Transaction is recognized for opening a gateway to the inflow of foreign currency at a time when the global financial market is characterized by tight liquidity.

Kookmin Covered Bond Transaction was advised by the Structured Finance Group led by Ho-Seog Hwang, and Young-Hee Jo and the Capital Markets Group led by Sang-Man Kim.

It is the third award from IFLR following the receipt of the Asian Equity of the Year Award in 2005 for “the concurrent listing of LG Phillips LCD on KRX and NYSE” and the Asian Equity Deal of the Year award in 2008 for “the IPO of Samsung Card.” This evidences the market recognition that Shin & Kim is a leading law firm in the field of sophisticated capital market transactions involving Korea.