David K. Cho

david-cho

David K. Cho

Partner, Dechert LLP, Registered Foreign Lawyer in Hong Kong

Hong Kong | Dechert, 31/F Jardine House, One Connaught Place, Central, Hong Kong, Hong Kong
+852 3518 4797 | +852 3518 4777

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David K. Cho, the head of Dechert’s Hong Kong office, focuses his practice on cross-border mergers and acquisitions, corporate finance and capital markets transactions, including U.S. SEC-registered public offerings, Rule 144A/Regulation S equity/debt and equity-linked offerings and other corporate matters. Mr. Cho represents major Asian companies and other multinational companies in global transactions across a broad range of sectors, including manufacturing, technology, chemicals, telecommunications, insurance, energy and private equity.

Mr. Cho has been consistently recognized by leading legal directories Chambers Global and Chambers Asia Pacific as one of the top lawyers for Corporate/M&A work in South Korea.  The most recent editions of Chambers note that clients praise his "strong commitment to producing a quality analysis in a timely manner" and highlight that David is "very sharp and creative with a knack for thinking outside the box and finding solutions where there appears to be none at first glance", and "extremely strategic and takes ownership of the deals".

Prior to joining Dechert, Mr. Cho was a partner in the Hong Kong office of another international law firm.

 

 
Experience

Mergers and Acquisitions/Private Equity

  • Fortune Group Holdings Limited, wholly owned by Chatchaval Jiaravanon, on the purchase of FORTUNE media brand for US$150 million from Meredith Corporation Limited.
  • SK hynix, Inc. as a member of the consortium, in the US$18 billion acquisition of Japan-based Toshiba Corporation’s NAND flash memory and solid-state drive business.
  • Served as international counsel to Shanghai Shenda Co. Ltd. in connection with its agreement to form a global joint venture with International Automotive Components to supply soft trim and acoustics products to automotive original equipment manufacturers globally.
  • OCI Company Ltd. on its acquisition of a 100% equity interest of Tokuyama Malaysia Sdn. Bhd. from Tokuyama Corporation based in Japan.
  • OCI Solar Power, a North American subsidiary of listed South Korean clean energy and chemicals company OCI Company Ltd., in its agreement to sell Alamo 7, its latest solar power plant development project, to New York-based energy company ConEdison Development.
  • OCI Enterprises Inc., the North American subsidiary of OCI Company Ltd. of Seoul, Korea, in the US$430 million sale of a controlling stake of OCI Resources LP, a NYSE-listed master limited partnership, to Ciner Enterprises Inc.
  • Giosis Pte. Ltd., the parent company of Pan-Asian e-commerce platform Qoo10, in its US$82.1 million Series A funding round. 
  • Join Me Group (HK) Investment Company Limited, a Hong Kong company, whose China subsidiaries operate the largest B2B procurement platform for the food service industry in China, and its 13 shareholders, in the sale of 100% of equity interests of JMU to a subsidiary of NASDAQ-listed Wowo Limited, a leading e-commerce platform in China focusing on local entertainment and lifestyle services
  • One of the world’s largest financial services groups in its participation in a US$700 million preferred shares offering by a Chinese group-discount company.
  • The founding members of a joint venture with a subsidiary of Shanghai e-Shang Warehousing Services Co., Ltd. which focuses on investing in and developing an industrial and warehouse logistics portfolio in Korea.
  • A major Asian engineering, construction and energy conglomerate on its bid to partner with the Government of the Republic of Uganda to construct a crude oil refinery in Uganda with an estimated capacity of 60,000 barrels per day and with an estimated US$2.5 billion+ project cost.
  • POSCO, a South Korea-based steel-making company, in its investments in the Chile-based lithium exploration companies Li3 Energy, Inc. and Pan American Lithium Corp.
  • Nexolon Co., Ltd., a Korea-based manufacturer of polysilicon ingots and wafers, in its supply agreements and procurement contracts.
  • Orchid Asia Group Management Limited, an Asia-based private equity fund, on its investments in PRC manufacturers of power equipment, machinery products and precision machinery tools.
  • One Equity Partners, a global private equity firm, in the US$69.6 million purchase by its wholly-owned affiliate, OEP CHME Holdings, LLC, of a controlling stake in China Medicine Corporation.
  • A major Asia-based telecommunications company in its cross-border acquisition of a significant stake in another telecommunications company, with an expected transaction value of more than US$600 million.
  • SK Telecom Co., Ltd., South Korea’s largest mobile telecommunications service provider, in its sale of a 3.7% stake in China Unicom (Hong Kong) Limited back to China Unicom for approximately US$1.3 billion, as well as its U.S.-registered offering of American Depositary Shares of SK Telecom valued at more than US$1 billion.
  • MBK Partners L.P., a South Korea-based buyout firm, in its leveraged buyout of Gala Television Corporation, a leading television network that operates three of the most popular and highest rated commercial cable television channels in Taiwan, as well as in its acquisition of China Network Systems, Co., Ltd., a major cable systems operator in Taiwan.
  • Gmarket Inc., South Korea’s largest e-commerce provider, in eBay’s all cash public tender offer for up to 100% of Gmarket for US$1.2 billion, and in the agreement by Yahoo! Inc. to acquire a 10% stake in Gmarket from Oak Investment Partners.

Corporate Finance and Capital Markets

  • E-Land Fashion China Holdings, Limited and E-Land Fashion Hong Kong Limited, subsidiaries of Eland World Limited, a leading retail company headquartered in Korea, in their US$225 million term loan facility refinancing and US$75 million revolving loan facility financing guaranteed by Eland World Limited.
  • OCI Resources LP on its master limited partnership initial public offering (IPO) and listing on the New York Stock Exchange.
  • SK Innovation Co., Ltd. and SK Technology Innovation Company in connection with their senior secured convertible note investment in HelioVolt Corporation, a producer of thin film solar PV modules. The initial funding of US$9.5 million closed on June 20, 2013.
  • Celltrion, a leading biopharmaceutical company, on the offering of its US$300 million convertible bond.
  • OCI Company Ltd., a South Korea-based global producer of polysilicon, in its US$700 million offering of global depositary receipts and listing in Singapore.
  • SK Telecom Co., Ltd., South Korea’s largest mobile telecommunications service provider, in its U.S.-registered offering of American Depositary Shares of SK Telecom valued at more than US$1 billion.
  • Gmarket Inc., South Korea’s largest e-commerce provider, in its US$144 million initial public offering on the NASDAQ Stock Market.

Includes matters handled at Dechert or prior to joining the firm.

Education
  • University of California, Los Angeles, B.A., 1992
  • Chicago-Kent College of Law, J.D., 1995
Admissions
  • California
  • Illinois
Languages
  • English
  • Korean
Speaking Engagements
  • M&A in the Asia Pacific region – distressed or chasing the Asian demographics? — 5th Asia Pacific Regional Forum Biennial Conference: Resilient Asia – Fighting Global Headwinds, India (February 15, 2017)

Partner David Cho is a session chair on "M&A in the Asia Pacific region – distressed or chasing the Asian demographics?". This panel discusses the various types of M&A transactions in the major Asia Pacific countries, including India, China, Japan, Singapore and South Korea.

To view more about the program of the event, please click here.

  • Asia Counsel to Counsel Exchange, Hong Kong (October 9, 2013)

Topics of discussion include: Close-up Q&A with prominent general counsel in Asia Pacific; Deal structuring and compliance in M&A; Round table discussion on cross-border M&A; Regulatory and compliance best practices in Asia; Effective compliance programs that work; The first 48 hours of an investigation; Asia premiere of the corporate training film “A Price Worth Paying?”; Ways to increase efficiency of the legal department; Patent enforcement strategy.