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31 Jan 2012

Corporate and Antitrust Teams Advise E-Mart on the Acquisition of KIM'S CLUB Mart

Members of Yulchon's Corporate and Antitrust teams represented E-Mart on the acquisition of the shares in KIM'S CLUB Mart from Eland Retail. KIM'S CLUB Mart is engaged in the super supermarket ("SSM") business with 54 stores nationwide, and E-Mart has become competitive in the SSM business with this acquisition.

Yulchon provided advice throughout the entire transaction including due diligence, execution of the share purchase agreement and business combination report. Difficulty in obtaining approval for the business combination was expected since this is the first business combination case in the SSM market and E-Mart is the No.1 large-scale discount store operator in Korea, but Yulchon obtained unconditional approval for the business combination by conducting in-depth analysis in relation to the product and geographic market in cooperation with E-Mart and providing persuasive grounds for such approval to the KFTC.

Partners Sung Wook Eun and associates Seung Yong Lee, Yoon Young Hwang and Soo Yeon Han from Corporate Team 1 and associate Sung Moo Jung from Antitrust Team handled this project.

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