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Resources development projects generally involve a number of stages ranging from preliminary exploration to production and processing stages. The investment risks involved differ from stage to stage.  So those risks must be managed through investment structures and contractual arrangements appropriate to each stage. In addition, it should be noted that resources development projects have the following general characteristics:

  • Large scale and long term capital investment is required
  • Volatile resources prices affect development timing
  • Knowledge and experiences of operator are critical to the success of projects
  • Contractual relationship between joint venture partners is not simple
  • Government approvals for each stage affect progress of projects

This being the case, proper advice on the characteristics of resources development projects and various regulatory and contractual issues is essential. 
Yulchon provides advice on various stages of resources development projects including mineral development, oil/gas field development and forest resources development. Yulchon has a number of lawyers having extensive experiences in these areas within Korea and overseas.
In particular, Yulchon has lawyers who are licensed and have first-hand advising experiences in Russia, CIS countries, South American countries, Canada, US, Australia, New Zealand and South East Asian countries which are popular among Korean companies for the purposes of investment in resources development projects.

Major Practice Areas


  • Due diligence on exploration licenses, mining leases and forest development licenses related to resources development projects
  • Due diligence on land access rights, development approvals and access to water
  • Due diligence on foreign partners in joint ventures with foreign partners
  • Advice on joint venture agreements, offtake agreements, sales representative agreements and financing agreements
  • Advice on contracts for acquisition and disposal of participating interests in resources development projects
  • Supervision of, and coordination with, local lawyers
  • Advice on tax strategy and incentives
  • Advice on disputes between joint venture partners

  • Advice to a Korean company on Sakhalin coal development project 
  • Advice to a Korean company on joint venture arrangements for Kazakhstan cement mine development
  • Advice on acquisition of interests in oilfield development projects in Komi Republic and Siberia of Russia
  • Advice to KNOC on performance or termination of shareholders agreement with CEP, a Canadian oil refinery in relation to exploration projects of Tigil/Icha areas, Kamchatka
  • Advice to a Korean company on resolution of a dispute relating to Kazakhstan mining development project
  • Advice to a Korean company on natural gas development project in Uzbekistan
  • Advice to KORES on acquisition of substantial interests in Canadian companies owning a copper mine in Chile
  • Advice on acquisition of mines in Canada and Indonesia by Korean companies
  • Advice to Hyundai Steel on long term supply agreement for natural resources with South American companies 
  • Due diligence and advice on acquisition of, and joint operating agreement for, a petroleum exploration license in Australia by a Korean company Advice to Korean companies on participation in oil development projects in Venezuela, Nigeria, New Zealand and Ghana
  • Advice on supply of fuel coal to GNPower of the Philippines by a Korean company
  • Advice to a Korean company on joint venture agreements for development of gold and copper mines in PNG 
  • Advice to KEXIM Bank on project financing for Nueva Ventanas Power Plant in Chile 
  • Due diligence and advice on investment in forestry project in Russia by a Korean company 

Contact Professionals

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