Law Firm Sejong Launches Task Force Following Passage of "Project REITs" Bill

From the left, clockwise: Center Director Jang Kyungsoo, Kim Takwhan, Attorney Lee Seunghyun, Senior Specialist Kim Junghan, Choi Hyebin, Attorney Hwang Inyong.

On May 1, Law Firm Sejong launched the "Project REITs Task Force" in response to the amendment of the Real Estate Investment Company Act, which was passed at the National Assembly plenary session. The amendment introduces the Project REITs system, allowing real estate investment companies (REITs) to be used more flexibly as the main agents of real estate development projects, and features a wide range of special provisions necessary for this purpose.

Sejong believes that the introduction of this new system will bring about fundamental changes to real estate development projects. Accordingly, the firm has established a dedicated task force composed of attorneys and experts with practical experience and expertise in real estate alternative investments, project finance, taxation, and public policy.

The task force includes Attorney Kim Takwhan (Judicial Research and Training Institute, 32nd class), Attorney Lee Seunghyun (37th class), Attorney Hwang Inyong (Bar Exam, 5th class), and Attorney Choi Hyebin (Bar Exam, 10th class), all of whom have extensive practical experience in REITs establishment and management, financing, public offerings and listings, as well as tax and regulatory compliance. These experts will work together organically as one team to maximize synergy.

Attorney Jang Kyungsoo stated, "Project REITs is a core system that represents a structural turning point for REITs. We expect it to set a new standard throughout the entire cycle of development, asset management, public offering, and listing. Through the launch of this task force, Sejong will present practical standards for the domestic development-type REITs market and take the lead in establishing the system."

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