Lee & Ko acted as legal advisors to the developer and financial investor in the financing for the public private partnership (“PPP”) project of 3 tunnels located in Incheon (Manwolsan Tunnel, Wonjeoksan Tunnel and Munhacksan Tunnel) from April to December 2014. Lee & Ko successfully completed innovative project restructuring and refinancing to fit the needs of the private investment funds, while easing the financial burden of the municipal government. However, the biggest achievement in this deal may be considered the implementation agreement which appropriately distributed the risk between Incheon Metropolitan City and the developer. More specifically, the minimum revenue guarantee was revoked and replaced by a standard cost support structure to ensure practical implications. Lee & Ko’s PPP experts possess excellent work abilities and expansive experience in PPPs and their performance in these 3 projects once again reaffirms their leading status in this market.