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Korea's Market Shift: A&M Launches Restructuring Unit
22 Apr
Summary
- Alvarez & Marsal launches dedicated South Korean restructuring practice.
- JJ Lim, formerly of Korea Development Bank, will lead the new team.
- The firm anticipates a market-driven shift away from state bailouts.
Alvarez & Marsal Inc. is establishing a new restructuring practice in South Korea, signaling a significant shift in the nation's approach to corporate finance. The firm anticipates a growing demand for corporate overhauls as South Korea transitions from state-led bailouts to market-driven solutions.
JJ Lim, a veteran from the state-run Korea Development Bank, will spearhead the newly formed team. Lim has previously managed high-profile restructuring cases, including those involving Daewoo Shipbuilding & Marine Engineering and HMM Co Ltd. He noted a fundamental change in Korea's restructuring landscape, moving towards a preemptive, market-driven model.
