Shin & Kim LLC held the "1st Gwanghwamun defense industry forum" on the 15th at Gran Seoul in Jongno-gu, Seoul. Experts from inside and outside the defense and defense industry sectors, including the National Assembly, the Ministry of National Defense, the Defense Acquisition Program Administration, defense companies, and academia, gathered in one place.
The forum discussed legal solutions and response measures to regulatory issues that corporations actually face in the process of foreign investment in the defense sector, as well as the particularities of buying and selling defense companies.
The forum began with opening remarks by Managing Partner Oh Jong-han (Judicial Research and Training Institute class 18) and a welcome address by Advisor Kim Jung-soo, a former chief of naval operations. It was followed by presentations from experts at Shin & Kim's defense and defense team, as well as Shin & Kim's corporate advisory and mergers and acquisitions (M&A) group and the trade and industry policy center.
Attorney Lee Su-gyun (class 36), who took the stage as a speaker, said regarding defense-industry M&A, "As a special transaction structure in which approval procedures and security reviews are key, reviews are conducted in parallel on the impact on defense materiel procurement and whether security can be maintained," adding, "Due diligence, prior consultations, and government relations responses determine the success or failure of a transaction."
Foreign attorney Kim Se-jin, who heads Shin & Kim's trade and industry policy center, noted key points to consider when foreigners enter or invest in the defense sector: "Because post-transaction regulations such as technology protection and export controls continue even after investment, prior confirmation and proactive consultations with relevant agencies are core risk management tools."
Meanwhile, Shin & Kim's "defense and defense team" includes Attorney Kim Young-hoon (class 37), the inaugural chief of the Air Force Prosecutors' Office, as well as Advisor Kim Jung-soo, a former chief of naval operations, and Advisor Kang Jung-hee, a former head of the aviation business division at the Defense Acquisition Program Administration.
Attorney Kim Sung-jin (class 43), who served at the Ministry of National Defense, the Defense Acquisition Program Administration, and the Navy Logistics Command, along with experts in the defense industry and defense fields such as former military prosecutor investigators Shin Min-cheol, Kim Dong-hyun, and Jang Sung-gi, have also joined.