Hyeonsu “Elliot” Jin
MP elliot@decentlaw.ioElliot served as a corporate lawyer at Pyeongan Lawfirm and as in-house counsel for Chai Corporation, providing diverse corporate advisory services.
- Corporate / Startups
- Cross-border / Dispute Resolution
- Crypto
- VC / Financial Advisory
- IP Litigation
- Sports
성공사례
관련소식
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공지사항Haru Management Ltd. (Haru Invest) Bankruptcy Claims Filing Notice
In November 2024, the Seoul Bankruptcy Court declared the bankruptcy of Haru Management Limited, the operator of Haru Invest. Although Haru Management was established in the British Virgin Islands (BVI), its actual operations were conducted in Korea, leading the Korean court to assert jurisdiction over the case. This case involves allegations of virtual asset fraud amounting to KRW 1.4 trillion, significantly impacting numerous investors both domestically and internationally. Claim Filing Deadline and Procedures Filing Deadline: January 31, 2025 (Korean Standard Time) Submission Deadline: January 24, 2025 (Korean Standard Time) * We will announce specific guidelines (attorney fees, engagement letter etc.) in the near future. Important Notes If you do not file your claim by the deadline, you may lose the right to participate in distributions or attend the creditors' meeting, which could affect your ability to recover your losses. To avoid any issues, please ensure that all necessary documents are prepared and submitted before the deadline. Claim Filing Assistance by Decent Law Firm Decent Law Firm will file debt claim application on behalf of Haru Invest creditors. We will communicate important dates to our clients. We will close our submitting system a few days earlier on January 24, 2025 in order to make sure we file on time. - Application Link: https://decentlaw.io/en/haruinvest - Submission Deadline: January 24, 2025 (Korean Standard Time) For any inquiries or assistance, please contact us promptly to ensure a smooth filing process.
2024-12-06 -
언론보도Decent Law Firm Expands International Legal Services through MOU with Philippine Law Firm
Decent Law Firm (represented by Managing Attorneys Hyeonsu “Elliot” Jin and Pureun “Ian” Hong) announced that it has signed an MOU with the Philippine law firm Respicio, expanding its international legal services to target the legal markets in both Korea and the Philippines. The Philippines is considered an attractive country for domestic investors and companies due to its unique geographical location and diverse resources. With its high growth rate and stable economic conditions, more domestic companies are considering expanding their businesses or exports to the Philippines, as it offers favorable conditions for enterprises. In response, Decent Law Firm is partnering with Respicio to provide international legal services to companies and individuals either seeking to enter the Philippine market or those involved in legal disputes with locals or members of the Korean community in the Philippines. The target clients for these international legal services include those residing in the Philippines and involved in administrative, criminal, or civil litigation, requiring legal assistance, or those planning to enter the Philippine market and needing legal consultation. The firm will also provide tailored legal advice and support for Filipino companies wishing to enter the Korean market. Through its collaboration with a local law firm staffed by Filipino lawyers, Decent Law Firm expects to offer more efficient and timely services to local entrepreneurs and the Korean community. Hyeonsu “Elliot” Jin, Managing Attorney of Decent Law Firm, stated, “Our international legal team at Decent is composed of lawyers with extensive overseas experience and excellent English proficiency. We aim to be a reliable support for both individuals and businesses in Korea and the Philippines.
2024-10-16 -
법률정보
MBK's Tender Offer for Korea Zinc: Key Legal Insights and Implications
What is a Tender Offer? A tender offer is a system where a party acquires a significant number of shares from multiple shareholders of a listed company to obtain management control. Under Article 134 of the Financial Investment Services and Capital Markets Act (FSCMA), tender offerors must publicly announce their offer and submit a tender offer statement to the Financial Services Commission and the stock exchange. MBK's recent tender offer for Korea Zinc serves as a notable example of how this system is applied in practice. MBK’s Tender Offer Terms and Comparison to HYBE’s SM Case MBK specified the tender offer price at 660,000 KRW per share and set the minimum purchase quantity at 6.98% of the total issued shares. This conditional tender offer ensures that the offeror can withdraw if the minimum purchase requirement is not met. In contrast, during HYBE’s tender offer for SM Entertainment, no such condition was established. Despite a significant increase in SM's stock price due to competing offers, HYBE had to purchase all shares tendered, resulting in substantial losses. Impact of Competing Offers and Stock Price Volatility Korea Zinc’s current stock price (735,000 KRW) exceeds MBK’s tender offer price (660,000 KRW), reflecting market speculation about a potential competing tender offer. If a competing offer emerges, stock prices often rise to levels comparable to or higher than the tender offer price, increasing volatility in the market. If MBK fails to meet the minimum purchase threshold or decides to withdraw due to a sharp increase in Korea Zinc’s stock price, they can legally cancel the tender offer under Article 139 of the FSCMA. However, existing shareholders would not be entitled to seek damages or penalties against MBK in such a case. Legal Effects of Tender Offer Withdrawal Should MBK’s tender offer be withdrawn or fail to meet its minimum purchase condition, the company is not obligated to proceed with the acquisition. Shareholders are left with no legal recourse to claim compensation for the failed tender offer. Conversely, if MBK raises the tender offer price through an amended filing to meet market expectations, Korea Zinc’s stock price could see further increases during the tender period. Conclusion: Caution for Individual Investors During the tender offer period (September 13, 2024 – October 4, 2024), Korea Zinc’s stock price is expected to experience significant volatility due to factors such as competing offers and adjustments to the tender price. Individual investors are advised to carefully evaluate the risks and opportunities before making investment decisions in this highly dynamic environment. MBK’s tender offer highlights critical legal and financial considerations in tender offers, providing valuable insights for future cases in the market.
2024-09-22