Yulchon provides comprehensive legal service for clients in a broad range of industries and focus areas, including unparalleled and specific focus on the automotive industry. Yulchon’s automotive practice has built up an extensive experience and expertise in advising and representing manufacturers, assemblers, suppliers, logistics companies, distributors and dealers in an array of matters that covers all aspects of the automotive business.
Today, the automotive industry faces various new challenges, ranging from pressures for environmental-friendly and cost-efficient technological innovation in the manufacturing process, to environmental and labor concerns, to keeping costs low, at the same time to stay competitive within the global market. An emerging feature in the automotive industry is competitive convergence, the collaboration of competitors to manage costs, quality, manufacturing process, supply chains and even profitability. In light of these changes in the automotive industry, we expect that the number of joint alliances and ventures will continue to increase.
Another aspect of the changing industry is the opening of markets in countries with tremendous consumption potential: Brazil, Russia, India, and China. Recently enacted Free Trade Agreements (FTAs) with the U.S. (KORUS) and the EU (EUKOR) have increased flexibility for manufacturers to export and import. It has resulted in significant growth in the industry. For example, the EUKOR FTA has increased EU car imports in Korea by over 70%, valued at € 670 million in new car sales. At the same time, Korean car imports into the EU rose by 41% until the first half of 2012.
At Yulchon, we handle a broad range of legal matters, to include, assistance in establishing joint ventures with foreign participation, expansion of the manufacturing process or dealer networks, or due diligence to provide structuring and support for M&As. We are at the forefront of automotive law in Korea, and our ability to understand the complexities inherent in the automotive industry provides us with a competitive edge to serve our clients.
Major Practice Areas
- Antitrust & Competition
- International Trade
- Bank Finance
- Capital Markets
- Intellectual Property
- Litigation and Dispute Resolution
- Mergers & Acquisitions
- Restructuring, Insolvency & Workouts
- Technology Transfer
- Advised Hyundai Motor in its acquisition of France and Germany distribution business
- Advised Kia Motors in its acquisition of Italian distribution business
- Advised Hyundai Mobis in its acquisition of Italian auto parts logistics business
- Advised Kia Motors in its acquisition of Russia distribution business
- Advised Hyundai Motor in its formation of strategic alliance with Diamler Chrysler
- Advised 7 major auto suppliers in connection with strategic investment to establish an industrial park with seven factories in St. Petersburg, Russia
- Advised Hyundai Motor in its joint venture with Santander Bank of Germany
- Advised Dymos-Lear joint venture in India
- Advised Hyundai Mobis in its joint venture with LG Chemicals for manufacturing automotive batteries
- Advised Hyundai Mobis in its acquisition of Hyundai Autonet
- Advised Hyundai Merchant Marine in its sale of Diamond Ad shares to CCG and sale of its car carrier business
- Advised Korean auto parts manufacturing company in its joint venture with Canadian auto parts company to jointly develop China auto parts business
- Advised Hyundai Mobis in connection with its acquisition of 10% equity interest in Hyundai Motor Company
- Advised J. Eberspächer GmbH & Co. KG of Germany in connection with the establishment of a hot-end exhaust systems joint venture with a Tier 1 supplier for Hyundai Motor Company and KIA Motors