SEOUL — Real estate developer DK Asia announced Friday it has signed a "strategic comprehensive partnership" with top-tier law firm Kim & Chang to secure the successful execution of its Royal Park City Phase 2 project in Incheon.

The agreement covers the entire lifecycle of the development, including permitting, local government cost-sharing, taxation, claims, and dispute response.

"Through the strategic comprehensive partnership agreement with Kim & Chang, the Royal Park City Phase 2 project has gained a more stable foundation for successful execution," said DK Asia Chairman Kim Jung-mo. "We will develop it into a world-class urban development model that surpasses Spain's Santander City."

Project Breakdown & Financial Backing

The partnership follows a successful Phase 1 collaboration, which delivered 6,305 units and resolved all site compensation negotiations within eight months. Phase 2 aims to significantly scale these efforts:

• Scale: 16,800 total units across a 2.6 million-square-meter site in Incheon’s Geomdan district—making it the largest privately-led project of its kind in South Korea.
• Infrastructure: Plans include a waterfront urban structure, a 36-hole park golf course, and integrated commercial and cultural zones.
• Funding: DK Asia has secured a financial agreement with Hana Bank. For the initial batch of 8,800 units, the developer has already planned to secure 90% of construction costs to guarantee project stability.