Milbank expands its South Korea offering

Milbank expands its South Korea offering

The head of the Hong Kong office takes over as the office manager in Seoul, joined by two associates and a special counsel

As part of its expansion in Seoul, Milbank has added an M&A specialist from Dechert to its team in addition to three other lawyers.

Prior to joining Milbank, David Cho led Dechert's Asia's co-managing partner and head of Hong Kong office. He also had special counsel, Spencer Park and Amos Yu and Susan Yoon both as associates.

In addition to his temporary presence in Los Angeles, the firm said he would 'ultimately' take on the role of managing partner in the Seoul office.

Besides M&A, Cho's practice focuses on corporate finance and capital markets transactions, like Rule 144A offerings and US Securities and Exchange Commission filings.

David Zemans, Managing Partner of Milbank Asia, pointed out that David is a leading M&A attorney, so it is absolutely a sign that Milbank Asia is extending beyond its traditional focus on project finance and energy in Korea. "His relationships and connections in Korea are deep, and his connections will open up many opportunities for us in Korea with major Korean companies and private equity investors."

In addition to private equity and technology, Cho represents companies in the life sciences, manufacturing, and energy sectors. A number of high-profile transactions for Korean companies have been handled by him, including OCI Resources' IPO in New York in 2013 and SK Hynix's $18 billion acquisition of Toshiba's memory chip business in 2018.

Milbank has always seen Korea as a strategic part of its Asian practices, and now with David on board, he offers potential opportunities for inbound and outbound mergers and acquisitions, as well as other opportunities," Zemans continues.

Dechert hired Cho in 2012 after he was a partner at Orrick Herrington & Sutcliffe. He was previously an associate at Debevoise & Plimpton and Skadden Arps Slate & Meagher & Flom in Hong Kong.

The multinational clients in Milbank's service are known for their global reach and seamlessness, Cho said in a statement. As a member of the company's cross-border team, I look forward to expanding my practice and developing innovative cross-border transactions. Furthermore, I look forward to the opportunity to return to Seoul, which will allow me to work closely with my clients."

A total of six lawyers are now on staff in the Seoul office, including four partners from Dechert. Cho will succeed David Gartside as head of Milbank's Seoul office, who joined the firm from Sidley Austin earlier in 2019 and will continue to lead the firm's project financing and energy practices.

Following its addition of Clifford Chance's Asian private equity heads as well as Linklaters' global head of banking in Hong Kong last March, Milbank is now looking to expand its private equity, M&A, and leveraged finance practices in Asia.

The Clifford Chance office in Seoul closed in 2021, nine years after Clifford Chance established itself in Korea as one of the first foreign law firms. A Magic Circle firm in the UK said the decision was made after a detailed review of its operations led to the decision to wind up.