Lee & Ko acted as project financing legal advisors for the developer, GK Fixed Link Corp, and the related financial investors in connection with the Busan-Geoje Fixed Link Private Participation Project in November 2013. More specifically, Lee & Ko played a key role in the preparation and introduction of an amendment agreement, with the principal purpose of establishing an appropriate allocation of risk between our clients (the developer/private entities) and the public entities involved in the project, namely the Busan Metropolitan City government and Gyeongsangnam-do provincial government. With Lee & Ko’s advice and assistance, the implementation of the project’s restructuring and the procurement of the necessary refinancing was successfully completed in November 2013. Furthermore, the elimination of the previously existing minimum revenue guarantee provisions effectuated the development of an innovative structural format for public-private project cooperation.