Member Voices

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Hee Jae Suk Associate, WLG WOW Forum Member Bae, Kim & lee (South Korea) heejae.suk@bkl.co.kr

1. Briefly describe your practice.

I have been practicing at Bae, Kim & Lee LLC ("BKL”), a Korean law firm, since 2019. My primary practice areas are M&A, private equity, and advising ventures and startups. Throughout my career, my clients have included private equity funds, conglomerates, unicorn companies, and individual family owners. 

My experience spans various areas, including representing both buy-side and sell-side parties in public and private M&A transactions, bolt-on transactions, and corporate restructuring projects. In addition, I have advised unicorn clients in transactions raising funds from global private equity investors. As a lead associate, my responsibilities involved active engagement throughout the entire transaction process, including deal structuring, coordinating due diligence, drafting and negotiating transactional documents, and managing the signing and closing procedures. 

Currently, I am pursuing an LL.M. degree at Harvard Law School with sponsorship from BKL. Through this program, I aim to gain new perspectives from faculty, classmates, and practitioners experienced in the U.S. jurisdiction. I am also developing an in-depth understanding of U.S. laws, which I plan to utilize upon returning to BKL, and expanding my global professional network.

2. Are there any legal trends in M&A or private equity that you’re currently following or find particularly interesting?

In Korea, it is anticipated that hostile takeover attempts will continue to rise due to increased shareholder activism. In addition, private equity funds that traditionally played key roles in the Korean M&A market as friendly buyers are now beginning to participate in hostile M&A transactions. A recent ongoing hostile takeover involving a private equity fund targeting a public company exemplifies this emerging trend. 

This development blurs the traditional distinction between private equity funds and activist funds, given that private equity funds, previously acting as controlling shareholders, have started exercising their rights as minority shareholders. Consequently, new legal challenges arise, including debates over the validity of takeover defenses implemented by boards. It also raises concerns about financial investors gaining corporate control, alleging their focus on short-term profitability. It is expected that these concerns can potentially foster regulatory efforts to safeguard the interests of the company facing hostile takeover attempts and its minority shareholders.

3. What opportunities do you see for cross-border collaboration or investment in your practice area, especially within the global legal landscape? 

As protectionism continues to rise globally, many countries have implemented measures aimed at safeguarding local businesses. These trends have significantly increased the complexity of cross-border investments and M&A. Navigating regulatory frameworks such as the regulations imposed by the Committee on Foreign Investment in the United States (CFIUS), a U.S. committee that reviews foreign investments for national security concerns, and the Foreign Subsidies Regulation (FSR), an EU regulation addressing market distortions from non-EU government subsidies, has become essential. Therefore, effective collaboration among legal professionals across multiple jurisdictions is increasingly crucial. Law firms equipped to manage these regulatory challenges will find significant opportunities in cross-border transactions.

4. You attended recent Women of WLG sessions, Excellence in Practice & Beyond, with guest speakers Christine McCay of Troutman Pepper Locke and Sarah Sinclair of MinterEllisonRuddWatts. What insights or key takeaways from the discussion stood out to you?

I appreciated the opportunity to attend two sessions of Women of WLG’s "Excellence in Practice & Beyond.” These sessions provided valuable insights through networking, guest speakers, and engaging breakout discussions. One key takeaway that particularly resonated with me was the importance of being myself. As I prepare to transition into a senior associate role, I aim to develop my own distinct professional and personal identity. I plan to draw inspiration from the experienced lawyers I met during these sessions as well as from mentors within my own firm.

5. Outside of work, what do you enjoy doing in your spare time?

I enjoy jogging, as it provides great stress relief. Now that the weather is getting warmer, I'm looking forward to running along the Charles River again. In addition, I enjoy spending time with friends and colleagues while enjoying great food. These days, I am studying wine to expand my knowledge and enhance my appreciation.