SEUM advised 22nd Century Media Co., operator of blockchain media outlet CoinDesk Korea in the issuance of a non-fungible token (NFT) for the famous Round 4 where 9 dan ranked professional Go player Lee Sedol was victorious against AlphaGo, an AI program developed by Google DeepMind.
SEUM accomplished to ascend to the fourth place in the first half of 2020 M&A league tables for Korea published by Bloomberg among the other top law firms.
Despite the downturn in M&A transaction volume due to COVID-19 in the first half of 2020, SEUM achieved a notable deal count by actively advising clients such as Naver, HiteJinro, Marketboro, Deeping Source, and other IT companies and startups in their investment transactions. SEUM’s deal count rose by 33% in the same period last year, achieving the highest revenue per person by a wide margin among the top law firms.
SEUM advised autonomous driving software developer StradVision in its KRW 31.6 billion Series B funding round, including investments from POSCO Capital, and other VC funds and asset management firms, which resulted in an accumulated fundraising by the company of approximately KRW 47.2 billion.
SEUM advised ADRIEL, an advertising platform that utilizes AI technology, in its recent KRW 5 billion Series A financing round, which included investments from Korea Investment Partners, Woowa Brothers Corp., and BA partners.
SEUM advised CatchItPlay, Inc., an educational technology startup established in 2016, in its KRW 3.5 billion Series A financing, which included investments from Korea Development Bank, SV Investment and Hanwha Investment & Securities.
SEUM represented Myungjin Holdings (“Myungjin”), a Korea-based fishery and IT business listed on Korea New Exchange (KONEX) in its recent purchase of shares of Seafood Products Limited, a UK-based seafood provider. Through the transaction, Myungjin acquired a 50% stake in Seafood Products in order to expand its wholesale services globally.
SEUM’s international legal alliance, TAGLaw®, has again been recognized by Chambers & Partners as “Elite” for 2019—the highest ranking awarded to legal networks and alliances. This is the sixth time TAGLaw has received the distinguished “Elite” designation since Chambers & Partners began ranking legal networks and alliances in 2013.
SEUM advised wedding planning platform How To Marry in connection with its recent funding round of KRW 10 billion, which was raised from various institutions including TBT, Korea Development Bank, SV Investment, and Ascendo Ventures. How To Marry is expected to use the investment proceeds to continue upgrading its service and expand into regions outside of Seoul.
The Legal Times, a leading monthly magazine based in Seoul focusing on the legal industry, featured SEUM in their special 11th anniversary Issue dated November 14, 2018. The article discussing SEUM and its highly regarded startup practice is titled “Our Law Firm in 2018 – “Leading Law Firm for Startups” SEUM” (2018 올해 우리 로펌은…’스타트업 자문 1호’ 세움 in Korea).
SEUM advised NAVER Corporation, Korea’s leading internet portal and mobile company, in connection with Naver’s recent contribution of KRW 99 billion (~USD 88 million) into a 100 billion won venture capital fund devoted to fostering and investing in startups. The SEUM team was comprised of managing partner Hoseok Jung and corporate partner Hyemi Kang; as well as associate Jaewoo Sim.
In connection with its expanding international practice, SEUM has been accepted as a member of TAGLaw, a worldwide alliance of more than 155 independent law firms with offices in over 90 countries that provides a full range of legal services to clients all over the world.
SEUM recently advised Cube Intelligence (“CUBE”) with respect to its Initial Coin Offering (“ICO”) of 43.2 million tokens (representing 60% of all tokens issued). The public sale for the CUBE tokens (ticker symbol AUTO), which were also offered for sale by reservation and pre-sale, successfully closed within 24 hours of its launch.
On March 28, 2018, as part of its blockchain seminar series, SEUM will host a discussion regarding “Issues Related to Reverse ICOs.” SEUM’s fourth blockchain seminar will be held at the Korea Foundation for Advanced Studies, 18th floor. Managing Partner Hoseok Jung will share insights and thoughts on variety of matters.
On November 8, 2018, Managing Partner Hoseok Jung participated in a press conference held by the Korea Bar Association (the "KBA") at the National Assembly Building in Seoul to advocate for the implementation of blockchain legislation.