Alvarez & Marsal Launches Restructuring Practice in South Korea

Alvarez & Marsal (A&M) has officially launched a dedicated restructuring practice in South Korea, extending its Asia-Pacific restructuring capabilities. The move signifies a deepened commitment to the Korean market, building on a decade-long presence where the firm’s headcount has tripled to over 100 professionals in the past three years.

The new practice will integrate operational turnaround, financial restructuring, and corporate finance solutions. It aims to provide practical, result-driven solutions through early, hands-on engagement. This expansion addresses evolving economic conditions in South Korea, including higher financing costs and sector-specific pressures that are straining balance sheets across the economy.

As South Korea navigates corporate and capital market reforms, focusing on governance and transparency, the need for capital discipline and operational resilience is growing. This is particularly relevant for small and medium-sized enterprises facing macroeconomic shifts and trade dynamics. The firm's expansion comes as the Corporate Restructuring Promotion Act (CRPA) is set for review.

The Korea Restructuring Practice will be led by Managing Directors JJ Lim and Dee Chung. Lim brings over three decades of experience from Korea Development Bank, focusing on complex restructurings, while Chung has extensive experience within A&M advising on cross-border turnarounds and special situations. Their combined expertise is expected to support companies in navigating change and bolster the Korean economy's long-term resilience.