YOON&YANG
Jae Ryun Cho Partner
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  • TEL 82 2 6003 7795
  • FAX 82 2 6003 7800
  • E-MAIL
Jae Ryun Cho is a partner at Yoon & Yang LLC. His main practice areas are capital markets, fund, alternative investment, real estate, REITs, trust, venture investment, project financing (PF), foreign exchange transaction, derivatives & ISDA, financial regulation, anti-dumping and anti-money laundering (AML), M&A, financing and litigation related to financial and management rights disputes.
Mr. Cho advised a wide breadth of domestic and foreign clients, including investment management companies, securities firms, insurance companies, as well as listed companies and multinational corporations. Leveraging his robust presence in the field, he provides financial advice, including finance, real estate and alternative investment, and corporate management advice, as well as corporate management advice, such as bond issuance related to new stocks and shares, and compliance. With his extensive experience in the financial regulatory sector, he also assists clients in disputes related to licenses/permits of financial institutions, sanctions, finance/securities/fund litigations, and management rights dispute.

Experience

  • 2009-present Yoon & Yang LLC
  • 2023-present Director, Society of Financial Attorneys, Korean Bar Association
  • 2022-present Advisory Member, ESG Special Committee, Seoul Bar Association
  • 2022-present Member, Overseas Investment Business Deliberation Committee, Korea Expressway Corporation
  • 2015-16 K&L Gates LLP (Orange County)

Education

  • 2021 Seoul National University Law School, LL.D. (coursework completed)
  • 2015 University of Southern California Gould School of Law, LL.M. (completed the Business Law Certificate Program)
  • 2010 Seoul National University Law School, LL.M. (coursework completed)
  • 2009 Judicial Research and Training Institute
  • 2006 Seoul National University College of Law, LL.B.

Representative Matters

[Fund and Alternative Investment]

  • Advised a domestic fund on investment in domestic IT solutions, IoT companies, and security companies (2023)
  • Advised a domestic fund on investment in a health supplementary food company (2022)
  • Advised a domestic fund on investment in shares of a Japanese social crowding company and a US online securities firm (2022)
  • Advised on a Malaysia LP Investment through a fund of Hanwha Asset Management (2021)
  • Advised on an investment in a “fund of fund” by an asset management company and a securities firm (2021)
  • Advised on an investment in a bio company and share disposal by an asset management company (2021)
  • Advised on an investment in YANOLJA and share disposal by Hanwha Asset Management and Hanwha Investment & Securities (2018-21)
  • Advised on an investment in Musicow by Hanwha Asset Management (2021)
  • Advised on the new technology investment association and venture capital LP investment of a payment card company (2018-present)
  • Advised on an investment in a New York real estate loan receivable through a fund of an asset management company (2020)
  • Advised on an investment in an overseas resort through a fund of Hanwha Asset Management (2019)
  • Advised on a loan receivable transfer within a fund of Korea Investment & Trust Management (2018)
  • Advised on several matters related to private equity establishment and investment


[Private Equity / Venture Investment]

  • Advised a venture firm on investment in shares of a US mobility company (2023)
  • Advised a domestic venture capital on investment in shares of a Canadian robotics company (2023)
  • Reviewed the PE corporate structure of a financial investment company (2021)
  • Advised on a PEF investment of a private equity firm (2021)
  • Advised on a healthcare PEF establishment of an asset management company (2021)


[Domestic and Overseas Real Estate Transaction]

  • Advised an investment management company on developing a knowledge industry center (2023)
  • Advised a US metal company on investment in mining rights in Korea (2023)
  • Advised an asset management company on acquisition of first-lien loan obligation of a real estate in the UK (2023)
  • Advised on acquisition of shares in a domestic project developer and development right (2023)
  • Advised on development of a domestic logistics warehouse and PF (2023)
  • Advised an insurance company on establishing a real estate subsidiary in the US (2022)
  • Advised a securities firm on providing loans to a German logistics center (2022)
  • Advised on the acquisition of Four Points Hotel in Guro through a fund by Multi Asset Global Investment (2021) 
  • Advised on the purchase of First Tower in Bundang through REITs by KORAMCO REITs Management and Trust (2021)
  • Advised on the acquisition of a warehouse in Incheon through REITs by KORAMCO REITs Management and Trust (2021) 
  • Advised on the purchase of a building in Seoul through a fund by an asset management company (2020) 
  • Advised on the acquisition of a hotel in Myeongdong through a fund by an asset management company (2020)
  • Advised on the acquisition of Centerpoint Mall in Dongtan by IGIS Asset Management (2019)
  • Advised on the sale of Phnom Penh Tower (Cambodia) by an engineering company (2018)
  • Advised on the purchase of Japanese real estate through funds of Daishin Asset Management (2018)
  • Advised on the acquisition of the land and business rights by Sejong Ray Castle golf course of Jagwang Holdings (2017)
  • Advised on the advance purchase of a warehouse in Gimpo by KORAMCO REITs Management and Trust (2017)
  • Advised on the sale of Pyeongchon Lotte Mall by KORAMCO REITs Management and Trust (2016)
  • Advised Kora Land & Housing Corporation on the REIT of “Hee-mang Housing” (2014)
  • Advised an asset management company on the PF of a complex cargo terminal (2012)
  • Advised on several acquisition and loan matters related to malls and commercial sites
  • Advised and reviewed the corporate structure of several real estate trust companies and asset trust companies


[Financial License/Permit and Regulation]

  • Advised a life insurance company on responding to inspections of its asset management division (2023)
  • Advised asset management companies and securities firms on responding to general inspections by the Financial Supervisory Service (FSS) (2023)
  • Responded to the Financial Supervisory Services, the Securities and Futures Commission, and the Financial Services Commission in relation to a private equity fund of a bank (2019-21)
  • Advised on the compensation of fund customers of a securities firm (2021)
  • Responded to sanctions of an asset management company, a life insurance company, and an investment securities firm (2018-present)
  • Advised on the permit of a real estate trust company (2019-20)
  • Advised Hanwha Asset Management on the establishment of an office in Vietnam (2019)
  • Advised on the organizational change of a financial holding company’s business division (2019)
  • Registered the private equity fund investment business of asset management companies (2018-19)
  • Advised the Industrial Bank of Korea (IBK) on the establishment of a branch in Cambodia (2018)
  • Advised on anti-money laundering in respect of a domestic bank (2018-19)
  • Advised a domestic asset management company on the registration as a private equity fund investment business, an investment advisory business, and a discretionary investment business (2018)
  • Advised on GP registration and PEF establishment


[Derivatives and Foreign Exchange]

  • Advised a savings bank on the interest swap ISDA deal structure (2022)
  • Advised on the ISDA of several companies, including a life insurance company (2018-21)
  • Advised on the CFD corporate structure of a securities firm (2021)
  • Advised on DLF of a bank (2019-20)
  • Advised a financial company on the amendment of the Foreign Exchange Transaction Regulation (2013, 2021)
  • Advised on the Foreign Exchange Transaction Regulation in relation to an erroneous remittance of a company (2017)
  • Advised on several cases of a violation (no measure taken) of the Foreign Exchange Transaction Act by a company, a sole proprietor, and an individual investor


[Domestic M&A]

  • Advised Daishin Securities on acquisition of KASA Korea (2023)
  • Advised on the acquisition of MK Trend by Hansae (2017)
  • Advised on the sale of a KOSDAQ-listed company (2017)
  • Advised Oriental Brewery on the acquisition of Hand & Malt (a domestic craft beer company) (2016)
  • Advised on the sale of shares of Camso Korea (2016)
  • Advised on the acquisition of Woori F&I (currently Daishin F&I) by Daishin Securities (2014)
  • Advised on the acquisition of Smile Savings Bank by OSB Savings Bank (2013)
  • Advised on the acquisition of Samwha Savings Bank by Woori Financial Group (2013)
  • Advised on the acquisition of HANCOM by Soft Forum (2012)
  • Advised on the P&A trade of Solomon Savings Bank by Woori Financial Savings Bank (2012)
  • Advised on the sale of Ssangyong E&C by KAMCO (2012)
  • Advised on the acquisition of Hyundai E&C by Hyundai Group (2010)


[Cross-border M&A]

  • Advised Shinhan Financial Group on the acquisition of Prudential Vietnam Finance Company (valued at USD 151 million) (2018)
  • Advised NH Bank on the acquisition of a financial institution in Cambodia (2018)
  • Advised on the acquisition of a financial institution in Cambodia by KB Kookmin Bank (2018)
  • Advised on the acquisition of Colombo by Cheil Industries (2011)
  • Advised on the acquisition of China Hogai Electric by LS CNS (2010)


[Capital Markets]

  • Handled the review of ETF delisting in Russia for the Korea Exchange (2023)
  • Advised on the delisting of a company (2020)
  • Advised on a financial investment company’s securitization of bonds issued by a telecom operator (2014)
  • Advised financial institutions, including Korea Development Bank, on the securitization of accounts receivables (2013-14)
  • Advised on synthetic and copper ETFs (2012-13)


[Litigation and Disputes]

  • Handled the dispute over management right between a private equity firm and existing seller (2023)
  • Acted in several fund-related litigation cases (Supreme Court Decision 2011Da80968 dated March 29, 2012) (2009-present)
  • Represented a payment card company in a civil litigation against a bank in respect of the shares of VISA (USA) (2013-14)
  • Acted in a non-contentious commercial case of deciding the stock purchase price of a construction company (2013)
  • Acted in the “options shock” criminal case of Deutsche Securities (2010)
  • Represented Madoff Fund in a civil case related to a New York real estate fund (2010)
  • Acted in several management rights disputes of KOSDAQ-listed companies

Awards

  • Leading Individual, Banking & Finance, Chambers and Partners Asia-Pacific (2025)
  • Highly Regarded, Banking and inance, IFLR1000 (2023-2024)

Publications

[Books]

  • Collection of Court Decisions, Hyeonamsa (Co-author, 2006)


[Academic Articles]

  • Cryptocurrency and Anti-Money Laundering (p. 34–49), Seoul National University BFL (2018)


[Journals & Newspapers]

  • A step too far?, Asia-Pacific Fintech Special Focus 2019, International Financial Law Review (2019)
  • Stepping forward, Fintech Special Focus 2018, International Financial Law Review (2018)
  • [On the Bar] Cryptocurrency and ‘proper’ regulations for ICO, Korea Herald (2019)

Insights