SOUTH KOREA Law and Practice Contributed by: Ie Hwan Yoo, Hang Jin Chang and Da Eun Jung, Kim & Chang
10. Jurisdiction-Specific Features 10.1 Other Acquisition Finance Issues Other than as previously discussed throughout this chapter of the guide, there are no particular issues or considerations regarding acquisition financing in Korea.
which are domestic institutions of requisite reli- ability such as pension funds, mutual aid asso- ciations and financial institutions), or other cer- tificates evidencing the actual holding of funds. However, since the financial supervisory author- ity has considerable discretion in determining whether something other than a certificate of deposit balance (showing the actual holding of funds) constitutes a sufficient proof of funds, it is strongly advisable to communicate and con- sult with the financial supervisory authority suffi- ciently in advance in relation to the details of the offer and the proposed evidence (eg, the amount of the tender offer which will be covered by a debt financing commitment and the identity of the issuer of the commitment letter).
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