"Proactive Response to PF Crisis and Development Risks"... YK Launches 'Real Estate Development Center'

Providing One-Stop Comprehensive Consulting Services Covering All Phases of Development Projects

(From left) Partner Lawyer Injoong Kim, Chief Lawyer Kyunghoon Kang, and Advisor Byeongwoo Gil are taking a commemorative photo at the Real Estate Development Center launch ceremony held on the 8th at the main office of YK Law Firm in Yeoksam-dong, Gangnam-gu, Seoul. YK

YK Law Firm announced on the 11th that it launched the "Real Estate Development Center" on the 8th.

This launch comes at a time when uncertainty in real estate development projects is increasing due to the continued high interest rate environment and the contraction in the project financing (PF) market. Large-scale development projects are a complex field that combines practical work ranging from urban planning and permitting to finance and construction. As various stakeholders from both the public and private sectors are involved, expertise in the development field and conflict resolution skills, beyond just legal knowledge, are considered core competitive strengths for law firms.

The Center is dedicated to providing comprehensive consulting services across all phases of development projects, including large-scale development (such as urban development and public offering-type PF), block- or parcel-specific specialized projects (such as multifamily housing and knowledge industry centers), and urban renewal projects. The plan is to provide close support for practical work required for business operations, going beyond simple legal advice to include reviews of business plan feasibility, representation in public and private negotiations, consulting on PF fundraising, and the establishment and operation of Project Finance Vehicle (PFV), Special Purpose Company (SPC), and Real Estate Investment Trusts (REITs).

YK plans to actively utilize its team of professionals with hands-on experience in real estate development projects and its nationwide directly managed office system. The firm aims to minimize risk quickly and organically by having branch offices located near project sites participate directly from the early stages, not only for large-scale development and renewal projects in the Seoul metropolitan area but also in the regions.

The Center is co-led by Partner Lawyer Injung Kim (Judicial Research and Training Institute 39th class), who joined YK on the 1st, and Advisor Byeongwoo Gil. Lawyer Kim is an expert in legal affairs for real estate development, having served as head of the legal department at Gyeonggi Housing and Urban Development Corporation (GH) and Seoul Housing & Communities Corporation (SH). Over the past 20 years, he has accumulated on-site practical experience by participating as a general manager (MP) and advisory committee member in numerous urban development projects, including the Yongsan International Business District, Magok District MICE Complex, and the 3rd Pangyo Techno Valley.

Advisor Gil is a former government official who entered public service in 1996 as the youngest successful candidate in the 32nd Technical Examination, and has been responsible for land, urban, and construction policy work at the Ministry of Land, Infrastructure and Transport and the Presidential Office. Having served as Director of Urban Policy at the Ministry, Director General of Metropolitan Transportation Policy at the Metropolitan Transportation Commission, and Land and Transport Secretary at the Presidential Office, he led the implementation of major national balanced development projects, including the reconstruction of the first-generation new towns.

Lawyer Kim stated, "Real estate development projects require not only expertise and hands-on experience across various fields such as urban planning, permitting, finance, design, construction, and sales, but also the ability to coordinate interests between the public and private sectors." He added, "The YK Real Estate Development Center will focus on providing optimal legal and consulting solutions to minimize client risks and ensure successful project execution in response to these market changes."

This content was produced with the assistance of AI translation services.