Bae,

Kim & Lee LLC ("BKL") and Linklaters LLP jointly held the "European Real

Estate Investment Seminar" on June 8, 2017 at the Park Ballroom of the Conrad

Hotel in Yeouido, Seoul, attracting approximately 150 attendees from legal and

overseas affairs teams at leading investment institutions and asset managers,

including pension funds, insurance companies, banks and securities firms.

The seminar came at a critical time amidst major changes in the

economy and the real estate market, such as a steady expansion of real estate

investment in Europe, and also provided a response to the growing interest of

domestic investors driven by recent events such as decision about the Brexit,

an early presidential election in Korea, regime change in France, and the rise

of populism across the region.

Topics for the seminar included real estate market trends in the

UK, France, and Germany, as well as relevant legal principles and key factors,

such as economic prospects, alternative investment policies, legal

considerations for overseas real estate investment, laws and regulations on

outbound investment and tax issues.

Je

Yoon SHIN (senior advisor), Dongwook KANG (partner) and Seung-Wan CHAE (CPA)

from BKL, along with attorneys Xavier Hunter, Francoise Maigrot and Wolfram

Krueger from the London, Paris and Frankfurt offices of Linklaters, as well as

director Piers Agace from the London office of the global real estate firm

CBRE, gave insightful presentations as the main speakers for the seminar.

Mr. Shin offered a thorough explanation of the major pledges of

the new South Korean government and alternative investment, pointing out that

“alternative investment will continue to grow as there is increasing demand for

such investment from insurance companies, pension funds and asset managers, and

the government is also endeavoring to establish systems and conditions for

alternative investment.”

Jong Baek PARK, partner at BKL, who led the open panel

discussion at the end of the seminar, explained that, “Although there is a

level of uncertainty due to Brexit and regime changes in France and Germany,

the real estate market in Europe is still an attractive investment destination

with solid rentals, financially stable leaseholders, various investment targets

and proven legal systems for investor protection.” He added, “BKL, which covers

every country across Europe, will provide comprehensive legal services

throughout the entire process from due diligence on investment targets to

transfer of rights, advising on the investment structure and procedure, local

laws and regulations, and Korean law in order to ensure the successful

investment of Korean clients.”

BKL

has handled a wide range of real estate investments in Europe, including

Samsung SRA Asset Management’s acquisition of Silver Tower and Intercontinental

Distribution Center both located in Germany, as well as IGIS Asset Management’s

investment in real estate located in Paris, France along with its investment in

offices and logistics centers located in major cities of Poland.