Real Estate & Construction Practice

Transcription

1 REAL ESTATE & CONSTRUCTION Real Estate & Construction Practice

2 Observers speak with one voice in proclaiming it one of the most respected and reliable practices in Korea. Chambers Global : The World s Leading Lawyers for Business CONTENTS Our Firm 2 Real Estate & Construction Practice 3 Representative Matters 4 Professionals 12

3 2 3 COMMITMENT INNOVATION EXCELLENCE REAL ESTATE & CONSTRUCTION Practice Top 30 Rapidly Growing Law Firm in Asia Asian Legal Business 2009 National Competitiveness Award Presidential Council on National Competitiveness Republic of Korea & Seoul Economic Daily Our Firm Yulchon LLC is a full-service international law firm headquartered in Seoul, Korea with more than 330 professionals, including over 60 lawyers licensed in jurisdictions outside of Korea. In less than two decades since its inception, Yulchon has become an acknowledged market leader in the Korean legal industry. With commitment, innovation, and excellence as our core values, Yulchon has grown together with clients through providing first-rate legal services. We are frequently retained to negotiate and participate in multi-billion dollar transactions, help draft and provide our input on new legislation and regulations, and represent clients in high-stakes adversarial proceedings. With our culture of collaborative problem-solving, we draw upon leading experts from all of our practice groups human resources, antitrust regulations, intellectual property, real estate and construction, securities regulation, civil litigation and more to provide comprehensive and innovative solutions and help our client reach their goals. Real Estate & Construction Practice 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.

4 4 5 Representative Matters 1. Project Development Our Real Estate and Construction Group routinely represents developers, investors, and financial institutions in projects throughout Korea, providing a comprehensive range of legal services that address every aspect of project development, from both transactional and litigation perspectives, including large-scale commercial developments such as apartment complexes, shopping centers, and hotels. We also assist clients with related zoning and project development structuring, real estate assessment and valuation, contract drafting, review and negotiation, tax analysis, licenses and permits, compliance with environmental regulations, and dispute resolution. 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 Some of our notable successes include: 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 2. Construction Projects Our Real Estate and Construction Group has extensive experience handling construction projects and construction-related issues, including transactional aspects of major private and public construction projects, such as bidding, contracting, and negotiation, as well as dispute resolution issues arising from the construction process. 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

5 Construction and Construction Regulation continued 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 3. Acquisition, Leasing and Sale of Real Estate Our Real Estate & Construction Group provides a comprehensive range of services and innovative structuring possibilities for the acquisition, leasing, and sale of real estate assets. Over the last few years, the Korean real estate market has been incredibly dynamic, and we have had opportunities to clients on some of the largest landmark real estate transactions in Korea. We also represent clients in real estate litigations that arise out of these types of transactions. Advising Mire 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

6 Real Estate Finance Our attorneys represent many of the principal domestic and foreign financial institutions that provide financing and related investment support for real estate acquisition, development, construction, and long-term investment. Working closely with professionals in our firm s Finance Practice, our attorneys assist clients in structuring, documenting, and negotiating a wide variety of lending transactions including development and construction loans, mezzanine or layered debt/equity structures, loans originated for securitization, inter-creditor and co-lender arrangements, and advising on transactions involving financing vehicles such as ABS, mortgage-backed securities, REIT, CR-REIT, real estate funds and project financing vehicles. We also counsel clients in disputes arising from complex real estate financing transactions. 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 5. Real Estate Trusts Our Real Estate & Construction Group counsels clients on various types of trusts, including development-type trusts, collateral-type trusts, disposal-type trusts, and sale and management-type trusts, in both transactional and litigation aspects. Our lawyers also have extensive experience in analyzing issues arising from various kinds of trusts that can be formed under Korean law. 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 6. SOC Infrastructure Projects Our Real Estate and Construction Group counsel clients on all transactional aspects of infrastructure projects and development projects involving power plants, oil refineries, and waste disposal facilities, which projects are often performed on an EPC contract basis. We also regularly represent clients in disputes arising from infrastructure and plant development transactions. Advising a Korean construction company in its construction of the Seoul Subway Line No. 9 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

7 SOC Infrastructure Projects continued 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 7. Overseas Development and Construction Projects Our Real Estate & Construction Group counsels clients on all aspects of overseas real estate development and construction projects, including plant construction projects. Companies involved in overseas real estate development and construction projects often face multi-jurisdictional legal obstacles. Working as a cohesive team with the Overseas Investment team and the International Dispute Resolution team, our Real Estate & Construction Group provides solutions optimized for each foreign jurisdiction. 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 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

8 12 13 Professionals Han, Bong Hee (Founding Partner) Bong Hee Han is the head of Yulchon s Real Estate & Construction Group and a founding member of the firm. Before founding Yulchon, Mr. Han was an attorney at Min Sohn & Kim, Whitman & Ransom, and Yulchon Law Offices. Mr. Han was a co-author for International Licensing in Korea which was published by the Center for International Legal Studies, and has also written on share dividends and real estate transactions in Korea. Mr. Han was selected as a recommended lawyer for Corporate (Real Estate) by PLC Which Lawyer in He has also been chosen as a Leading Lawyer of 2009 by IFLR He has represented a wide array of high profile clients, including Morgan Stanley, Merrill Lynch, Goldman Sachs, GE Capital, Deutsche Bank, ING, Lehman Brothers and Lone Star. He received his LL.B. and LL.M. from Seoul National University and an additional LL.M. from the University of Chicago Law School. He is licensed to practice in New York and Korea. Jang, Young Ki (Partner) Young Ki Jang is a partner at Yulchon who practices primarily in the areas of litigation and arbitration, real estate and land use, banking and finance. He began his career at Yulchon as an associate at its inception, and was made a partner in Mr. Kang received his LL.B. from Korea University. T_ E_ ykjang@yulchon.com T_ E_ bhhan@yulchon.com Park, Ju Bong (Partner) Ju Bong Park is a partner at Yulchon who practices primarily in the areas of real estate, construction and finance law. Before joining Yulchon in 1999, Mr. Park served as a judge at the Daegu District Court. He received his LL.B. and LL.M. from Korea University. Mr. Park served as an adjunct professor at the Judicial Research and Training Institute of Korea and a lecturer at the Seoul Officials Training Institute. Mr. Park was also a committee member of the Ministry of Construction & Transportation of Korea, which is now the Ministry of Land, Infrastructure & Transport of Korea. Cha, Tae Jin (Partner) Tae Jin Cha is a partner at Yulchon who practices primarily in the areas of real estate, mergers and acquisitions and capital markets transactions. He joined Yulchon as an associate in 2002 and was made a partner in Mr. Cha also worked at the Cleary Gottlieb Steen & Hamilton LLP. Hong Kong office on secondment. Mr. Cha received his LL.B. from Seoul National University and an LL.M. from the University of Virginia School of Law. T_ E_ tjcha@yulchon.com T_ E_ jbpark@yulchon.com

9 14 15 Kim, Tae Kun (Partner) Tae Kun Kim is a partner at Yulchon who practices primarily in the area of dispute resolution. Before joining Yulchon in 2008, Mr. Kim served as a judge at various courts, including the Sungnam branch of the Suwon District Court and the Seoul Administration Court. Mr. Kim received his B.A. from Seoul National University. T_ E_ tkkim@yulchon.com Kim, Kwang Soon (Partner) Kwang Soon Kim is a partner at Yulchon. He practices primarily in the areas of litigation and handles general civil cases as well as commercial cases. In particular, he has been engaged in many high-profile disputes related to construction and real estate industries. After completing legal training at the Judicial Research and Training Institute of the Supreme Court of Korea in 2003, he served as a judge advocate in the Republic of Korea Army. Before joining Yulchon in 2007, he also served as a judge. He obtained his LL.B. from Seoul National University and LL.M from the University of Southern California. T_ E_ kskim@yulchon.com Cho, Jang Hyuk (Partner) Jang Hyuk Cho is a partner at Yulchon who practices primarily in the area of dispute resolution. Before joining Yulchon, he served as a judge at various courts, including the Southern Branch of the Seoul District Court and the Chungju Branch of the Cheongju District Court. Mr. Cho also served as a deputy judge at the Seoul District Court. Mr. Cho received his LL.B. from Seoul National University. Mr. Jang has been teaching as an adjunct professor at Korea University Law School and also served as a visiting scholar at the University of Tokyo Law School. In addition, Mr. Jang counseled Lottery Board of the Prime Minister s Office as a legal advisor. Further, he has been a member of the Post-Pacific War Victims Welfare Subcommittee since 2008, and also worked as an instructor for the Korea Banking Institute. T_ E_ jhcho@yulchon.com Pyun, David H. (Senior Foreign Counsel) David H. Pyun is a senior foreign counsel at Yulchon. His practice focuses on finance, mergers and acquisitions, real estate and cross-border transactions. Mr. Pyun has extensive experience in a variety of corporate finance matters including corporate credit facilities, high-yield bond offerings and structured finance transactions. Mr. Pyun also specializes in advising clients in all aspects of real estate transactions including joint venture and development transactions, acquisitions and dispositions and leasing. Mr. Pyun also has substantial experience in cross-border corporate transactions, including global projects and mergers and acquisitions. Mr. Pyun previously worked in the New York office of Mayer Brown, where he worked on general corporate and finance matters, including capital markets. Following his experience in New York, he worked for several years at as a general corporate and finance specialist in real estate at Allen, Matkins, Leck, Gamble, Mallory & Natsis LLP and Cox, Castle & Nicholson LLP. Mr. Pyun graduated with distinction from Cornell University, where he earned his B.A. in Economics, and received his J.D. from the New York University School of Law. Mr. Pyun joined Yulchon as a senior associate in 2010 and became a partner at Yulchon in T_ E_ dpyun@yulchon.com Kim, Nam Ho (Partner) Nam Ho Kim is a partner at Yulchon who practices primarily in the areas of corporate and commercial dispute resolution, arbitration, and real estate and land use. Before joining Yulchon, Mr. Kim served as a judge advocate in the Republic of Korea Army. In 2009, he worked in the Washington, D.C. office of Mckenna, Long & Aldridge LLP. Mr. Kim holds LL.B. and LL.M. degrees from Seoul National University as well as an LL.M. from Columbia Law School. He is licensed to practice in New York and Korea. T_ E_ nhkim@yulchon.com

10 16 Contact Information Han, Bong Hee (Founding Partner) TEL Park, Ju Bong (Partner) TEL Jang, Young Ki (Partner) TEL

11 Yulchon LLC - Worldwide Office Contacts Korea The Textile Center Building, 12F, 518 Teheran-ro, Gangnam-gu, Seoul , Korea Tel: Fax: mail@yulchon.com Vietnam Ho Chi Minh City Unit 03, 4th Floor, Kumho Asiana Plaza, 39 Le Duan St., Ben Nghe Ward, Dist.1, Ho Chi Minh City, Vietnam Tel: Fax: eyang@yulchon.com Hanoi Suite 2502, Keangnam Hanoi Landmark Tower, Pham Hung Street, Me Tri Ward, South Tu Liem District, Hanoi, Vietnam Tel: Fax: eyang@yulchon.com China 1209, 12F, South Tower C, Raycom InfoTech Park, No. 2, Ke Xue Yuan Nan Lu, Haidian District, Beijing, , P.R. China Tel: /0768 Fax: beijing@yulchon.com Myanmar Junction Square Shop House, Building No. 2, 3rd Floor, Between Kyun Taw Road and Pyay Road, Kamayut Township, Yangon, Myanmar Tel: ujahn@yulchon.com