Paul Hastings, a leading global law firm, announced today that it represented the joint bookrunners in a US$298.4 million global depositary receipts (“GDRs”) offering by the Industrial Bank of Korea (‘‘IBK’’). IBK is a government-controlled bank that focuses on financings to small- and medium-sized enterprises in Korea.

The GDRs were listed on the Luxembourg Stock Exchange and the underlying common shares were listed on the Korea Exchange. This transaction was the first GDR offering from Korea in 2014.

The Paul Hastings team was led by capital markets partner Dong Chul Kim, with support from associates Steve Kang and Young Hwan Ryu.