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Paul Hastings Represents Samsung Securities on the Korean IPO of Dongkuk S&C 

August 26, 2009
The largest Korean IPO in 2009 and the third ever Korean IPO with an international tranche 

Hong Kong, (August 26, 2009) Paul, Hastings, Janofsky & Walker, a leading global law firm, announced today that it has represented Samsung Securities as the underwriter in the KRW 251 billion (approximately US$200 million) IPO and share listing on the KRX KOSDAQ market by Dongkuk S&C, a leading global manufacturer of wind towers for the wind renewable energy market. The listing comprised a Korean domestic tranche and an international Reg S tranche.

This is the largest Korean IPO in 2009 so far and marks the third ever domestic IPO in Korea with an international tranche following changes in Korean securities laws to allow international tranches. In addition, this transaction is the first IPO on the KRX KOSDAQ market with an international tranche. Paul Hastings has previously advised Goldman Sachs and Samsung Securities as the underwriters' counsel for STX Pan Ocean's global offering and listing on the Korea Stock Exchange which also included an international tranche.

Daniel Kim, a partner in the Paul Hastings Korea team, based in Hong Kong, who led the transaction, commented: We are delighted to be involved in this landmark Korean IPO.  This was a very meaningful offering, both for the parties involved and for the Korean IPO market, and we hope will signal the beginning of a recovery for Korean capital markets and especially Korean IPOs with international tranches.

The Paul Hastings team was led by Daniel Kim and associate Woojae Kim.

Paul Hastings dedicated and market-leading Korea team has over 20 years of experience advising both Korean companies and international clients on their cross border Korean transactions. The team, one of the largest of its kind among international law firms, has been involved in some of the most innovative and high-profile transactions in Korea and has won several industry awards.

The Dongkuk S&C IPO follows the recent acquisition of Oriental Brewery, Koreas second largest brewery, by Kohlberg Kravis Roberts in Korea in which Paul Hastings advised the lead arrangers and managers on the approximately US$850 million senior financing for the US$1.8 billion leveraged buyout. The transaction is the largest leveraged buyout in Asia to date in 2009.

Paul, Hastings, Janofsky & Walker is a leading global law firm with offices in Asia, Europe, and the United States. We provide innovative legal solutions to financial institutions and Fortune 500 companies. Please visit www.paulhastings.com for more information.