DR & AJU provided legal advisory services regarding the merger between Kyobo Book Centre Co., Ltd. (“Client”), Korea's largest bookstore chain, and its wholly-owned subsidiary, Kyobo Hottracks, which engages in wholesale and retail businesses, including stationery, gifts, and music. 

The merger was conducted on July 1, 2023, as part of efforts to enhance operational efficiency.

DR & AJU provided a comprehensive preliminary review of anticipated legal issues related to the merger, including the Commercial Act, the Financial Investment Services and Capital Markets Act, the Insurance Business Act, the Monopoly Regulation and Fair Trade Act, and the Labor Standards Act, as well as various disclosure obligations. Since the merger was a large-scale corporate merger, we also prepared and filed the preliminary corporate merger filing with the Korea Fair Trade Commission.

As a result, Client successfully completed the merger with Kyobo Hottracks without any issues on the initially scheduled date.