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.

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