Paul Hastings advises Wal-Mart in a sale of its Korean retail business for Korean Won 825 billion

May 24, 2006

Paul Hastings advises Wal-Mart in a sale of its Korean retail business for Korean Won 825 billion

Hong Kong (May 24, 2006) – Paul, Hastings, Janofsky & Walker (Paul Hastings), a leading international law firm, has represented Wal-Mart in a Korean Won 825 billion sale of its South Korean retail operations to Shinsegae Co., Korea’s leading retailer.
A team of lawyers from Paul Hastings’ M&A Group, led by Jong Han Kim, Neil Torpey and Daniel Kim, represented Wal-Mart. This transaction is one of the largest mergers and acquisitions transactions in Korea this year. The transaction is subject to the approval by the Korea Fair Trade Commission.

Jong Han Kim, partner and head of Paul Hastings’ Korea practice, said: “Paul Hastings is delighted to be involved in this landmark deal, which has been concluded on a very tight time schedule. Our firm has considerable experience in representing Korean, U.S. and other foreign investors in their mergers and acquisitions in Korea and this deal further highlights our capability in handling big-ticket M&A deals in the Korean market.”

Paul, Hastings, Janofsky & Walker LLP, founded in 1951, is a leading international law firm with over 1,000 attorneys in 17 offices. Paul Hastings is among the largest international law firms in Asia with a broad range of practices and over 135 attorneys in Hong Kong, Beijing, Shanghai and Tokyo, together with a dedicated Korea Practice Group, qualified to practice law in Hong Kong, Japan, Singapore, Australia, England & Wales and the US. For more information, visit www.paulhastings.com.