In July 2020, EJE Law represented and advised a real estate investment company (“lessor”) in the execution of the lease agreement for leasing the commercial facility portion of the business complex, which was being developed under the social rental housing project for relocation of the Seoul Southern Correctional Facility, to a foreign supermarket (“lessee”). The negotiations between lessor and lessee lasted for a considerably long period of time to discuss various legal issues that can arise in connection with the above lease agreement, including the rights and obligations of the parties until the completion of the construction of the subject business complex, coordinating with the interests of residential portion and other commercial tenants in the course of operation after the completion, the possibility of a sale of the complex, etc.  In this transaction, EJE Law provided the lessor with  the comprehensive legal services from the very beginning of the above negotiations until the execution of the relevant lease agreement.

The construction of the complex is expected to be completed in 2022.