Dentons Lee has secured a decisive victory for Ilyang Pharmaceutical in high-stakes litigation concerning the distribution of undistributed profits from its Chinese joint venture, Tonghua Ilyang. Acting as the court of final instance, the Higher People's Court of Jilin Province ordered Tonghua Ilyang to distribute approximately KRW 18 billion in undistributed profits to Ilyang Pharmaceutical and its affiliates. Through Dentons Lee's strategic guidance and end-to-end management of the dispute, Ilyang Pharmaceutical successfully recovered the full amount of funds that had been tied up for more than three years-strengthening its financial position and accelerating the restructuring of its China operations.

This outcome underscores Dentons Lee's ability to navigate what is often referred to as the "triple hurdles" of China-related disputes: (i) prevailing before local Chinese courts, (ii) enforcing the judgment, and (iii) repatriating recovered funds to Korea. Dentons Lee's cross-border dispute resolution capabilities were central to overcoming each of these challenges.

A key driver of this success was Senior Foreign Attorney Changrong Xu, a PRC-qualified lawyer at Dentons Lee with 15 years of experience at leading Chinese firms including Dacheng (大成) and King & Wood Mallesons (KWM). Mr. Xu played a pivotal role indesigning the litigation strategy, coordinating closely with Dacheng throughout the proceedings, and applying his deep understanding of PRC litigation, enforcement mechanisms, and cross-border fund transfer regulations. His leadership ensured that Dentons Lee's approach was both locally informed and strategically aligned with Ilyang Pharmaceutical's broader business objectives. Senior Advisor Dong-Wuk Seo, who previously served as Legal Attaché at the Embassy of the Republic of Korea in China, also played a significant role through his support.

From initial case assessment to the practical execution of the judgment and the successful repatriation of funds, Dentons Lee provided comprehensive, hands-on support that safeguarded Ilyang Pharmaceutical's rights at every stage. This victory reaffirms Dentons Lee's position as a leading advisor to Korean companies engaged in China-related joint ventures and disputes, delivering legal solutions that translate into concrete, measurable business outcomes.

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