Law firm YK launches real estate development center

Law firm YK announced Wednesday the official launch of its Real Estate Development Center, citing growing uncertainty in real estate development projects and the increasing need for comprehensive legal consulting.

The center will provide integrated consulting covering the full spectrum of real estate development — large-scale development projects, block- and lot-specific specialized projects, and urban renewal projects. Its services include reviewing the feasibility of project plans, handling negotiations with public and private parties, advising on project financing, and supporting the establishment and operation of project financing vehicles, special purpose companies and real estate investment trusts.

YK plans to draw on a team of specialists with hands-on experience in real estate development and its nationwide network of directly operated offices. For large-scale development and redevelopment projects both in the Greater Seoul area and in regional cities, branch offices near each project site will be involved from the earliest stages to manage and minimize risk swiftly and in a coordinated manner.

The center will be co-led by partner attorney Kim In-jung (39th class of the Judicial Research and Training Institute) and adviser Gil Byung-woo, both of whom joined YK on June 1.

Kim is a legal specialist in real estate development who previously served as head of legal affairs at Gyeonggi Housing and Urban Development Corp. (GH) and Seoul Housing and Urban Development Corp. (SH). He has accumulated roughly 20 years of field experience as a master planner and advisory committee member on multiple urban development projects, including the Yongsan International Business District, the Magok MICE complex and the Third Pangyo Techno Valley.

Gil entered public service in 1996 after passing the 32nd Technical Administration Examination as its youngest successful candidate. A former government official, he handled land, urban and construction policy at the Ministry of Land, Infrastructure and Transport and the presidential office. His career included postings as director of urban policy at the ministry, director-general of metropolitan transportation policy at the Metropolitan Area Transportation Commission, and presidential secretary for land and transport, during which he led major national balanced-development initiatives including the reconstruction of first-generation new towns.

"Real estate development demands expertise across urban planning, permitting, finance, design, construction and pre-sales, along with deep practical experience and the ability to reconcile the interests of public and private stakeholders," Kim said. "We will provide the optimal legal and consulting solutions to minimize customer risk and drive successful project outcomes."