[Power K Woman] Oh Hyunju, 27 Years as a Finance Law Trailblazer Leading Innovation: "I Want to Understand Society's Evolution More Deeply"

Interview with Oh Hyunju, Attorney at Kwangjang
Key Figure in the 2008 Korea-US Currency Swap
Kwangjang's First Female Management Committee Member...
An Expert Sought After by Experts
"Continuing Reflection and Challenge Is Both Joy and Success"

In today's rapidly changing society, it is not easy to dedicate oneself to a single field. Not only is it difficult to develop expertise amid intense competition, but it is even harder to steadily build a career in one place. For this reason, Oh Hyunju, who has spent 27 years at the law firm Kwangjang specializing exclusively in the finance and capital markets sector, is recognized as a leading expert in Korea, extending beyond the legal profession.

Oh Hyunju, a lawyer at the law firm Kwangjang, is being interviewed by Asia Economy at the Kwangjang office in Jung-gu, Seoul. Photo by Jo Yongjun

Her steadfast journey, fueled by passion, has intersected with pivotal moments in Korea's financial history. These include the countless hours spent refining contracts day and night during the 2008 global financial crisis to secure the Korea-US currency swap, and the moments in 2017 when she contemplated market balance during the introduction of the stewardship code. The first Korea-US currency swap, concluded at a scale of $30 billion at the time, became a decisive turning point in overcoming the crisis by stabilizing the foreign exchange market. Now in its eighth year since its introduction, the stewardship code is being used as a mechanism to enhance shareholder value through appropriate checks and balances.

Last year, Oh made history in the legal industry by becoming the first female member of Kwangjang's management committee, yet she remains eager to learn. She says, "I want to become someone who understands more deeply the essence and evolution of society." On July 28, we met her, who continues to serve as a steadfast mentor to junior colleagues with her unwavering principles and leadership, even in a changing environment.

-What led you to specialize in finance and capital markets?

▲My first job was at an economic newspaper. As a first-year rookie, I was assigned to the SME department, and the department head demanded that I bring back at least three new business cards every day. Wanting to fulfill my duties at my first job, I did exactly that. However, as I visited companies and conducted interviews, I felt frustrated remaining an "outsider." Wanting to do more specialized work, I decided to become a financial lawyer from the moment I began preparing for the bar exam.

-You have spent 27 years at Kwangjang. You must have received many other offers over the years.

▲I am what you might call a "one firm lawyer." There were opportunities along the way, and there were times when I thought it might be fun to take on new challenges. While I was never swayed by offers from other law firms, I did waver when offers came from financial institutions. I wanted to learn about and challenge myself in other fields. However, a law firm is ultimately an organization where lawyers are the main players. Contributing to the success and longevity of an organization composed of lawyers is, I believe, a rewarding role for a senior lawyer.

-You have led landmark cases in Korea's financial history. The Korea-US currency swap in 2008, which helped overcome the global financial crisis, is a representative example.

▲The structure of the 2008 Korea-US currency swap contract was not particularly complex. The key issue was whether the United States would agree to provide the swap. Thanks to the government's all-out efforts, we were able to begin contract negotiations with the working-level staff of the Federal Reserve Board (FRB), and I hurriedly drafted and presented a preliminary version. In contrast, the FRB staff did not seem to be in any rush. I engaged in repeated discussions to ensure that the contract terms I drafted would function accurately in all situations. After the deal was concluded, I declined interviews for several years, saying, "The real protagonists of this moment are the Korean government officials, so I cannot be interviewed." That is how historic the deal was, and it was a great honor just to have drafted that contract.

-You also contributed to the introduction of the stewardship code. What motivated your commitment to capital market innovation?

▲To provide in-depth transaction advice, you naturally strive to understand the intent and history of the relevant systems, and you pay close attention to where market trends are headed. Going a step further, serving as an advisor to government agencies and participating in research task forces (TFs) requires a significant time investment, so not everyone takes it on. However, the time spent allows you to understand the multi-dimensional concerns of regulatory authorities and to network with top experts in the market, making it a truly valuable investment. When I was invited to join the stewardship code introduction TF, I wanted to help ensure that the code maintained "balance." The confidence gained from these experiences has translated into a deeper attachment to my work.

Oh Hyunju, a lawyer at the law firm Kwangjang, is being interviewed by Asia Economy at the Kwangjang office in Jung-gu, Seoul. Photo by Jo Yongjun

-Last year, you became the first female member of Kwangjang's management committee.

▲Kwangjang's finance group is an unprecedented team of about 150 financial experts, even among large law firms. Most have devoted their entire legal careers to financial work. As a management committee member, I believe my role is to help these experts collaborate so that their collective strength exceeds that of any individual. What is important is to come together to find solutions and achieve goals to enhance the firm's capabilities and performance, and to repeat this process so that each professional achieves even greater success.

-What are the strengths of Kwangjang's financial regulatory team?

▲Kwangjang's financial regulatory team has not only senior experts but also a robust layer of practical professionals. These days, it is crucial to identify the weaknesses and defense logic of specific cases early on to ensure the process flows smoothly. With many practical experts, we can share awareness of issues and grasp market trends through constant, multi-layered communication with clients. Both our clients and we absorb insights from each other on a regular basis. The trust built through these interactions is extremely strong.

-Even though being a lawyer may seem glamorous, work-life balance is not easy. How do you cope?

▲It is undeniable that it is difficult to expect work-life balance at a law firm. However, large law firms are organizations composed of professionals who choose to take on those challenges and enjoy the sense of achievement and pride that comes with it. Even so, what keeps Kwangjang positive is its culture of collaboration based on trust. We readily support colleagues who are overburdened or need help from other fields, striving to make everyone's career "sustainable." Stable relationships with colleagues make it possible to fulfill at least some family responsibilities, and such mutual consideration enables long-term cooperation.

-What qualities or attitudes do you emphasize to junior lawyers?

▲To be honest, I ask quite a lot from junior lawyers, and in that respect, I am a bit of a demanding senior (I can almost see the juniors nodding in agreement). However, the request I repeat most often is to maintain high standards of completeness in their work. At the start of a case, I tell them, "Let's show a level of depth that is on a different plane from other law firms," "Let's cover every option the client might consider," and "Let's hand the client a document they can report to their boss as is." These are the kinds of things I say. I am trying to cut down on nagging these days.

Oh Hyunju, a lawyer at the law firm Kwangjang, is being interviewed by Asia Economy at the Kwangjang office in Jung-gu, Seoul. Photo by Jo Yongjun

-What issue has captured your attention most recently?

▲Without a doubt, artificial intelligence (AI). It is an extremely advanced technology that directly connects to individual users' needs. AI is bringing tremendous changes to financial product sales channels, sales responsibilities, and regulations. AI now diagnoses investor profiles, recommends products, and even handles sales. AI will have a significant impact on the status and sales power of the financial industry. However, all the content that goes into it originates from financial institutions. There will be distortions and errors, and it is unclear to what extent and where regulations will apply. The same goes for law firms. In the past, we told associates not to research our cases using AI for security reasons, but now there are demands to use AI technology efficiently in our work. The question is whether associates are streamlining research with AI instead of spending 10 hours on it, and whether they are maintaining security in the process. The work of lawyers will change significantly.

-What are your future goals or aspirations?

▲I have always aspired to gain a deeper understanding of the evolution of industry and society through fulfilling my professional responsibilities. The "awakening" that comes from contributing to problem-solving, whether in contracts or disputes, is meaningful. So, although it may sound abstract, I want to continue learning how society evolves and operates. Since being appointed to the management committee, I have felt an even greater responsibility to demonstrate leadership to my male colleagues and serve as a role model for my female colleagues. However, Kwangjang is home to many outstanding colleagues who are striving in their respective positions. I look forward to learning more about gender issues and organizational life through working with my colleagues to tackle and overcome challenges, especially as I reach the final stages of my career.

-What message would you like to share with junior lawyers who see you as a role model?

▲When female lawyers in particular tell me they see me as a role model and ask for advice, there is something I often say. I have many shortcomings and imperfections, and my activities may be shaped by my personality or the era I belong to, so I advise them not to imitate any particular aspect of me. I am not saying, "You are great just as you are." Rather, I mean that you should reflect on your own characteristics, abilities, and circumstances, and set goals that suit you through your own choices. I believe that continuing this reflection and challenge is both a joy and a success.

▶About Oh Hyunju, Lawyer at Kwangjang

Oh Hyunju graduated from Seoul National University with a degree in international relations and worked as a journalist for an economic newspaper before passing the bar exam and completing the 28th class of the Judicial Research and Training Institute. She joined Kwangjang in 1999 and has worked at the same law firm ever since. Specializing in finance and capital markets, she played a key role in the Korea-US currency swap that helped Korea overcome the 2008 global financial crisis and participated in the stewardship code TF introduced in 2018, leading major financial innovations. She currently heads Kwangjang's finance group and is renowned as a "lawyer sought after by experts." In 2024, she became the firm's first female management committee member and continues to expand her influence.