Investment and Transaction Structuring
We provide comprehensive legal services on various matters ranging from establishment to liquidation of the real estate investment vehicles including devising the optimal transaction structure and obtaining the relevant licenses and permits necessary for the establishment of real estate investment vehicles. We have a track record of successfully closing transactions using various real estate investment structures including, but not limited to, real estate funds, real estate investment trust companies and project finance vehicles.
Acquisition and Disposition
We advise our clients on the acquisition and disposition of all types of real property including, but not limited to, prime office buildings, hotels and resorts, retail stores, logistics facilities, factories and mixed-use buildings. We timely provide our legal advice, by proactively identifying the issues and risks through due diligence and engaging in negotiation and execution of transaction documents, at every stage of the transaction, including acquisition financing, tax planning, investment vehicle establishment, obtaining regulatory approvals, and otherwise ensuring that the client’s objectives can be achieved.
There has been an increase in the number of development projects involving commercial buildings, residential buildings, logistics facilities, data center, and hotels and resorts and mixed-use buildings. Given that development projects are subject to many different laws and regulations, it is important to review and understand the relevant issues early. We provide comprehensive advice on matters related to development projects such as, among others, acquisition of land, review of zoning issues, regulatory matters as well as supply and disposition of buildings, construction works, financing and trust arrangement.
For our domestic clients investing overseas, we provide legal advice on all aspects of the transaction, from optimal investment structuring to understanding the legal, regulatory, and tax implications of the overseas investment. We also work with local counsel to provide comprehensive advice on all aspects of the cross-border transaction, from due diligence, documentation, and financing to implementation of closing.
Regulatory and Environmental
We advise our clients on various regulatory issues related to real estate and construction projects, including identifying and applying for required regulatory approvals, permits, and licenses, and obtaining official rulings from governmental authorities where ambiguities exist in the interpretation of the laws. In addition, we also provide legal advice on real estate related environmental laws and regulations, including legal liabilities relating to soil contamination and underground water contamination when conducting real estate transactions.
Construction and Engineering
We offer a full array of engineering, procurement and construction related legal advice, covering all stages of construction and engineering projects, both private and public, including project structuring, legal feasibility analysis, obtaining approvals and permits, contract administration and interpretation, bid documentation, concession contracts, construction contracts and subcontracts, and technology supply and license agreements.
Finance and Tax
Our Real Estate Practice works closely with the firm’s other practices, including our finance and tax practices which allow us to provide comprehensive one-stop service to our clients. To facilitate our clients’ financing process, we actively support the drafting and negotiation of financing contracts and provide efficient inter-disciplinary services by identifying tax issues and providing optimal solutions for such tax issues.
We are experienced in a wide variety of disputes involving real estate, including those arising in connection with the bankruptcy of real estate developers and owners, foreclosures, title disputes, attachments, environment proceedings, and construction related disputes. When a dispute arises, members of our Real Estate Practice who have extensive experience with mediation, domestic and international arbitration, as well as traditional litigation, work closely with our Litigation Practice and International Arbitration & Cross-Border Litigation Practice to address disputes in most efficient and effective manner.
We advise on various issues related to the leasing of commercial buildings and other types of real property, including negotiation and execution of lease agreements, establishment of appropriate security interests for the return of lease deposits, verifying zoning restrictions applicable to leased premises, statutory protection of certain tenants, as well as standardized contract and fair trade law issues that may arise in a leasing transaction.
We represent most of the largest and well-known private equity funds, asset management companies, real estate developers, multinational corporations, investment banks, insurance companies, opportunity funds, pension funds and advisors, both domestic and foreign, operating in Korea. Building on experience accumulated for decades and providing unparalleled legal service tailored to each client we represent, we are widely regarded as the preeminent leader in the real estate legal market and regularly play a prominent role in the real estate industry's most high-profile transactions.
Representative transactions that our Real Estate Practice has been involved with include:
- Advised the National Pension Fund in its outbound investments, including its acquisition of a 49% interest in an iconic Manhattan building in New York, US and a prime office building located in Sydney, Australia.
- Advised the Government of Singapore Investment Corporation in its various Korean investments, including the acquisition of the Seoul Finance Center, one of the most iconic office buildings in the Seoul Central Business District.
- Advised a German-based investor in its acquisition of various office and retail properties using company-type collective investment vehicles, being the first in the industry to use such structure.
- Advised various developers in connection with the International Business District development project in New Songdo City, Incheon Metropolitan City.
“Tier 1” Ranking in All 15 Practice Areas – The Legal 500 Asia Pacific 20212021.01.14
Commercial Building Lease Protection Act Amended to Protect Commercial Tenants Impacted by COVID-192020.12.23
Kim & Chang Legal Newsletter (2020 Issue 4)2020.12.23
Kendall Square REIT’s IPO and Listing on the Korea Exchange’s KOSPI Market2020.12.23
Top Ranking in 18 Areas and 75 Individual Recognitions – Chambers Asia-Pacific 20212020.12.16
Property Tax and Aggregate Real Estate Tax on Land of Private REFs/REITs Affected by Amendments to the Enforcement Decree of the Local Tax Act2020.09.28