Yulchon has strengthened its cross-border M&A capabilities with the recruitment of Sung Uk Park as a senior foreign attorney and partner, who formerly held the post as executive vice president in charge of legal affairs at SK On, the battery manufacturing arm of Korea’s SK Group.
“With Sung Uk on board, Yulchon aims to further strengthen its ability to lead high-stakes cross-border deals across diverse industries and complex transactional matters,” Jae Hyun Park, the head of Yulchon’s M&A practice, told Asia Business Law Journal.
Admitted to the New York Bar in 2001, Sung Uk Park began his legal career at the New York offices of A&O Shearman and Schulte Roth & Zabel. Before joining SK On in 2022, he spent eight years at Kim & Chang and two years at Yoon & Yang. He advised on notable cross-border transactions including the USD825 million purchase of Double Down Interactive by DoubleU Games and the merger between Woowa Brothers and Delivery Hero, two global food ordering platforms.
At SK On, Sung Uk Park led the commercial negotiation and structuring of global joint ventures with OEM partners as well as complex negotiations with OEM customers and tier-one suppliers in the EV battery and materials sector. At the time Sung Uk Park was appointed, SK On said the appointment was to strengthen preparations for large-scale financing and a potential IPO in the medium to long term, although this had not yet taken place.
Yulchon’s M&A practice recently advised on Shinsegae Group and Alibaba Group’s establishment of a joint venture combining Gmarket and AliExpress Korea, with a combined valuation of around KRW6 trillion (USD 4.41 billion).
