In July 2020, EJE LAW advised the landlord real estate investment company in connection with a lease agreement for the commercial portion of a mixed-use development under the Publicly Supported Private Rental Housing Project on the site of the former Seoul Southern Correctional Facility. The lease was successfully concluded with a major foreign-owned hypermarket chain as the tenant.

This transaction involved a long-term lease agreement for a mixed-use building under construction, and entailed extensive negotiations over an extended period. Key legal issues included the allocation of rights and obligations between the parties during the construction phase, coordination of interests among residential and other commercial components in the post-completion operation phase, and the potential future sale of the building. EJE LAW provided comprehensive legal advisory services throughout the entire process—from the initial stages of negotiation to the execution of the lease agreement.

The mixed-use building under the Publicly Supported Private Rental Housing Project is scheduled for completion in 2022.