Our client, who intended to establish its presence in an industrial park located in Gyeonggi Province, sought to enter into a priority tenancy agreement with the operator of the industrial park. Our firm reviewed the legality and effectiveness of such a priority tenancy agreement under the legal framework provided by the Industrial Location and Development Act, which serves as the basis for industrial park development. Our firm also provided advice on ensuring the secure return of any funds paid by our client in the event of non-performance, termination, or cancellation of the priority tenancy agreement. Furthermore, we examined the legal implications that may arise if the priority tenancy agreement is deemed invalid.
