Yulchon’s Real Estate & Construction Group has experts in a wider variety of fields who can assist clients in every major sector of the real estate and construction industries. Our knowledge of these industries and our systemic interdisciplinary approach enable us to develop innovative structures and creative solutions customized for the most complex and challenging real estate projects and disputes.
As a team with broad depth and wide coverage, our Real Estate & Construction Group counsels clients on all aspects of a real estate or construction project, including the acquisition and disposition of single assets and portfolios, onshore and offshore entity formation and structuring for real estate investment, mortgage and mezzanine financing and restructuring, project finance, domestic and overseas real estate development and construction (including plant and infrastructure construction), EPC contracts, leasing, real estate joint ventures, real estate investment trusts, commercial real estate valuations, and real estate and construction-related disputes.
Major Practice Areas
- Project Development
- Construction Projects
- Acquisition, Leasing and Sale of Real Estate
- Real Estate Finance
- Real Estate Trusts
- SOC Infrastructure Projects
- Overseas Development and Construction Projects
- Advising developers in many landmark skyscraper construction projects and representing such developers in relevant litigations.
- Advising developers in many power plant development projects and representing such developers in relevant litigations.
- Advising developers and general contractors in obtaining licenses and permits for industrial complexes and representing such developers and general contractors in relevant litigations.
- Advising developers in development of megastores, discount stores, and department stores and representing such developers in relevant litigations.
- Advising developers in many redevelopment and reconstruction projects, urban planning projects, and market redevelopment projects and representing such developers in relevant litigations.
- Advising developers in many publicly offered real estate fund projects, including the Yongsan station community development project, the Cheonan international business park development project, the Sangam DMC development project, the Pangyo Alpha Dome projects, and the Cheonan Pentaport multi-use complex development project.
- Advising a foreign-affiliated financial institution in its acquisition of a commercial office building complex under construction in Seoul through a real estate investment trust fund structure.
- Advising a foreign-affiliated financial institution in its equity investment in the development project of New Songdo City.
- Advising developers on multiple projects related to the Seosan Enterprise City Development Project.
- Advising developers for their sale of shares in Woomyunsan Development, the company that developed the Woomyun Mountain Tunnel.
- Advising Lotte on design contract, subcontract and international bidding procedures for subcontractors relating to the 2nd Lotte World project.
- Advising developers on the new roadbed construction project for the Ori-Suwon subway construction.
- Advising developers on the construction and installation of the PC structure in the Incheon International Airport.
- Advising a Korean developer on its Mok-dong Hyperion construction project and Hannam-dong Hyperion construction project.
- Advising a Korean developer on its construction project for Gayang Bridge.
- Advising a Korean developer on its construction project for Pyungtaek Port.
- Representing developers in litigations relating to licenses and permits required for LPG facility construction.
- Representing developers involved in the multi-party case in connection with the collapse accident of container cranes due to the typhoon Maemi.
- Representing a major Korean company in an administrative proceeding regarding the cancellation of harbor construction work approvals.
- Representing developers in disputes relating to civil and criminal charges in connection with the GS Incheon Distribution Center.
- Representing a general contractor in a dispute regarding the acknowledgment of additional construction expenses for a turn-key construction.
- Representing a state-owned company in disputes regarding the extraction and relocation expenses of oil pipeline running under lands adjacent to roads.
- Representing and advising major Korean construction companies in various disputes arising from construction costs, adjustment of contract prices, liquidated damages, allocation of construction cost, contract deposits, subcontract, and defect repair.
Acquisition, Leasing and Sale of Real Estate
- Advising Mirae Asset Global Investment in its acquisition of the Gangnam Ilsong Building through a real estate fund.
- Advising Korea Investment Corporation in its acquisition of an office building in the UK.
- Advising many other major asset management companies and investors in the acquisition of office buildings in Korea through real estate funds operated by Korean asset management companies, such as Hana Daol Asset Management, Hana Daol Real Estate Trust,, Hyundai Asset Management, CBRE Asset Management, Shinhan-BNP Paribas Asset Management, and , Alpha Asset Management
- Advising KTB Asset Management in the sale of the Platinum Tower owned by a real estate fund established by KTB Asset Management. Advising many other asset management companies in the sale of office buildings in Korea owned by real estate funds established and managed by asset management companies.
- Advising asset management companies, such as Mirae Asset Global Investment, Hana Daol Asset Management, Hyundai Asset Management, FG Asset Management and Samsung SRA Asset Management in their outbound investment in real property in the USA, UK, Brazil, Australia, Malaysia and Vietnam through private real estate funds.
- Advising Koramco REITs Management in its acquisition of an office building located in Seoul. The acquisition was structured and consummated using two different REIT entities.
- Advising Booyoung in its acquisition of lands and buildings from a company subject to rehabilitation proceedings.
- Advising Lotte Shopping in the acquisition and leasing of commercial and office buildings to real estate funds and real estate investment companies.
- Advising on the sale of various offices, commercial buildings and factories, including ING Korea Property Investment’s sale of the Samsung Card Building’s East and West Wings to Hyundai Merchant Marine, Hyundai Securities and Hyundai Elevator.
- Advising foreign-affiliated financial institutions in their acquisition of buildings through securitization.
- Advising Aekyung Group in its acquisition of a portion of Samsung Plaza in the form of a business transfer and its resale of the office building to foreign affiliated financial institutions through securitization.
- Advising Lone Star in its acquisition of Star Tower from Hyundai Development Company and resale of Star Tower to GIC.
- Representing a Korean developer in various disputes arising from the construction and reconstruction of stores in the Dongdaemoon Market.
- Representing a trust company in various disputes arising from the company’s sale of stores in the Star Entertainment Shopping Mall.
- Representing a project management company and a construction company in a class action lawsuit relating to the sale of apartments and multipurpose buildings in Incheon.
Real Estate Finance
- Representing a major Korean bank in a dispute between the bank and a Korean construction company arising from a project finance contract for a large scale commercial complex development project in Yongin.
- Advising a project financing vehicle in its overseas issuance of US dollar denominated bonds for purchase, development and financing of real property.
- Advising a real estate investment company owning and operating Seoul Square on a real estate refinancing project in the amount of 800 billion Korean Won, and advising many foreign-affiliated financial institutions in financing for direct acquisition of real property or acquisition through real estate funds or REITs.
- Advising Shinhan Bank on its loans made in connection with the BTL financing of the expenses of the construction of new dormitories in Kyunghee University. Advising many other major Korean banks on financing of real estate projects.
- Advising many Korean construction companies on their response and strategy in connection with the government’s special investigation of financially distressed companies indebted to the Korea Deposit Insurance Corporation.
- Representing Korean asset management companies in disputes with institutional investors in connection with real estate funds.
- Representing a major Korean life insurance company in disputes against a construction company arising from a project finance contract for an urban redevelopment project for downtown Seoul.
Real Estate Trusts
- Advising clients in many real estate projects utilizing trust structures and representing such clients in relevant litigations.
- Representing real estate trust companies in disputes of various natures arising from many development-type trusts.
- Representing real estate trust companies in disputes involving injunction and specific enforcement requests relating to sale and management-type trust.
- Representing real estate trust companies in disputes involving indemnification of expenses by such companies’ investors.
- Representing real estate trust companies in administrative proceedings involving disputes over development expenses incurred by development-type trust.
Overseas Development and Construction Projects
- Advising a Korean construction company on its construction of an undersea oil storage facility in Singapore and representing the company in relevant litigations.
- Advising a Korean construction company on its construction of a nuclear power plant in the United Arab Emirates.
- Representing a Korean construction company in a dispute among members of a consortium organized to perform a turnkey EPC contract for construction of an oil refinery plant in Qatar.
- Representing a Korean construction company in disputes arising from its construction of electricity distribution networks in Cambodia.
- Representing a consortium consisting of Korean companies in disputes arising from a hydraulic power plant construction project in Nepal.
- Representing a Korean construction company in various disputes arising from a road construction project in Uzbekistan.
- Representing a Korean construction company in various disputes arising from a waste water disposal system construction project in Saudi Arabia.
SOC Infrastructure Projects
- Advising a Korean construction company in its construction of the Seoul Subway Line No. 9/7 and representing the company in relevant litigations.
- Advising a Korean construction company in its private investment projects for facilities at North Incheon Port and representing the company in relevant litigations.
- Advising a Korean construction company in its construction of the north breakwater of Gunjang New Port and representing the company in relevant litigations.
- Representing a project operator in an administrative proceeding relating to the cancelation of an administrative order for the restoration of the change in the financial structure of the project operator of a private SOC investment project.
- Advising a Korean construction company on its Yangju waste disposal processing facility construction project and representing the company in relevant litigations.
- Advising a Korean construction company in its construction of Younggwang Nuclear Plant No. 5 and 6.
- Advising a Korean construction company in its construction of Shingori Nuclear Plant No. 1 and 2.
- Advising a Korean construction company in its nuclear light-water reactor construction project in North Korea.
- Representing a Korean construction company in disputes arising from the turnkey EPC contract for the construction of an oil refinery in the Yeosu industrial complex.
- Representing a Korean construction company in disputes arising from the EPC turnkey contract for the construction of chemical factory facilities in the Gunsan free trade area.
- Advising a Korean construction company in its construction of artificial lightweight aggregate manufacturing facilities in Yeongheung.
- Advising an investor in its investment in a private investment project for the New-Bundang Subway Line extension and representing the investor in relevant litigations.
- Advising a Korean construction company in a joint development project for the Garorim tidal power plant.
- Advising a developer on its development of a general industrial complex in Pohang Technopark No. 2.
- Advising a developer in its development of multi-layer wastewater disposal facilities in the Gajwa Water Water Disposal Plant.
- Advising a developer on its renovation of water pipes in Jeonju.
- Advising a developer in its development of Gongduk Subway Station Gyungui Line.
- Advising an investor in its investment in a private investment project for the enhancement of the Pohang Waster Water Disposal Plant and representing the investor in relevant litigations.
- 2016-02-25 Advised Mirae Asset Global Investments in connection with its investment in Cologne City Hall Building in Germany
- 2015-11-25 Mirae Asset Global Investments in its acquisition of the landmark Fairmont San Francisco Hotel
- 2015-10-07 Advised FG Asset Management in its purchase of the Australian Taxation Office Building
- Extent and Limitation of the Obligation of the Trustee under Real Estate Trust Structure for Research on the Court Precedents, Seoul Bar Association (2007)
- Development and Taxation of Real Estate Investment Trusts: South Korea, Asia-Pacific Tax Bulletin, Vol. 11 No. 6 (2005)