Tug-of-War for Talent: Yulchon and HwaWoo Battle for Top Lawyers Across COEX

Published 17 Jul.2025 07:00(KST)

'A Game of Tug-of-War.'

The competition to recruit top talent between Yulchon and HwaWoo is intensifying. Despite being only 400 meters apart across COEX, the two law firms, often referred to as "neighborly rivals," have been actively recruiting each other's lawyers at different times.

Expert Career Moves Between Yulchon and HwaWoo. Legal Times.

The move of leading M&A expert Yoon Heeung (61, Judicial Research and Training Institute class 21) from Yulchon to HwaWoo in May was one of the most talked-about transfers in the recent legal industry. As Yoon, who led Yulchon's Corporate & Finance (C&F) Group, joined HwaWoo, industry insiders speculated that "more departures from Yulchon may follow."

Indeed, Lee Jinguk (52, class 30), who had worked at Yulchon for 20 years, has reportedly submitted his resignation and is expected to join HwaWoo in August. In addition, Yoon Soyeon (42, first bar exam) and Park Hyeongjun (38, fifth bar exam), both of whom handled M&A work at Yulchon, are also set to move to HwaWoo. With Yoon Heeung and these three M&A specialists transferring, a small but significant team has effectively left Yulchon for HwaWoo.

Managing partner Yoon Heeung began his legal career in 1992 at Woobang, the predecessor of HwaWoo, before joining Yulchon in 2001. He served as head of the Corporate & Finance Group and, in 2019, became co-managing partner of Yulchon alongside Yoon Yongseop (70, class 10) and Kang Seokhoon (62, class 19). He successfully led numerous major M&A transactions during the business expansion and restructuring of major Korean conglomerates, including Lotte Shopping's acquisition of Hi-Mart, Hyundai Motor Company's acquisition of Shinheung Securities (now Hyundai Motor Securities), and Hanwha Group's acquisition of Samsung General Chemicals and Samsung Total. He also represented clients in deals such as Standard Chartered Bank's acquisition of Cheil Bank, Lotte Shopping's acquisition of Woori Home Shopping, and Lotte Confectionery's acquisition of Guylian, bringing these transactions to successful conclusions. Lee Jinguk is also a prominent expert in the M&A market, having advised on significant deals such as Hanwha Group's acquisition of Daewoo Shipbuilding & Marine Engineering (Hanwha Ocean), Naver's acquisition of Poshmark, and Lotte Rental's acquisition of a stake in Socar.

Yulchon has not only lost talent to HwaWoo. In 2024, four lawyers specializing in M&A moved from HwaWoo to Yulchon. At that time, Kim Seongjin (52, class 32), who led HwaWoo's M&A team, along with Lee Junghwan (47, first bar exam), Kim Gayoung (43, class 40), and Kang Hyerim (40, first bar exam), transferred to neighboring Yulchon. In contrast to Yoon Heeung, these lawyers initially settled at Yulchon, moved to HwaWoo, and then returned to their original firm, Yulchon.

In 2022, there was a transfer from Yulchon to HwaWoo. Kim Dohyeong, currently head of HwaWoo's Environmental Regulation Response Center, along with Han Suyeon (47, class 36) and Kim Minkyeong (ninth bar exam), moved from Yulchon to HwaWoo.

Going further back, between 2011 and 2012, there were moves from HwaWoo to Yulchon. Park Seongbeom (59, class 21), who now handles numerous fair trade cases at Yulchon, began his legal career at Woobang, the predecessor of HwaWoo, before transferring to Yulchon in 2012. Shin Yeongsu (59, class 26), currently head of Yulchon's Corporate & Finance Group, started his career at Woobang in 1997, worked at HwaWoo until 2011, and then joined Yulchon.

Many other professionals from both firms have also switched sides. Ryu Song (50, class 34), Ryu Jiwan (44, second bar exam), Shin Hyeonhwa (48, class 32), and Park Yangjin (44, class 40), all currently at Yulchon, previously worked at HwaWoo before moving. Conversely, Heo Hwanjun (56, class 35), Lee Jeongwoo (42, class 39), Lee Sangbin (40, third bar exam), and digital forensics expert Kim Seongjin moved from Yulchon to HwaWoo.