The political instability has already dealt a blow to the domestic office market. In December, Singapore’s GIC dropped the sale of the Seoul Financial Center after its bidders lowered the valuation of the landmark building following Yoon’s ill-fated martial law attempt.
Seoul Finance Center (File photo downloaded from SFC's website) Singapore’s GIC Private Ltd., the world’s sixth-largest sovereign wealth fund, dropped the sale of a landmark building in Seoul due to the prolonged political woes in South Korea with President Yoon Suk Yeol impeached o
The National Pension Service is Korea's largest institutional investor South Korea’s National Pension Service (NPS) plans to invest 2 trillion won ($1.4 billion) in the domestic real estate market next year to gain from an expected recovery in the commercial property sector amid low-inter
Donuimun D Tower in Seoul's central business district NH Nonghyup REITs Management Co. has completed the purchase of Donuimun D Tower, a prime office building in central Seoul, for 895.3 billion won ($640 million), notching the second-largest commercial property transaction in South Korea this
Hyundai Motor Securities building in Yeouido, Seoul (Courtesy of Hyundai Motor Securities) Koramco Asset Management Co. has put the Hyundai Motor Securities building in Seoul's Yeouido business district (YBD) on the market. The deal is expected to fetch between 300 billion and 350 billion won (
Daishin Securities headquarters in Euljiro, Seoul (Courtesy of Yonhap) Daishin Securities Co. has called off a plan to sell its headquarters building in a central business district of Seoul to NH-Amundi Asset Management Co. for 660 billion won ($497 million) after the latter failed to recruit i
Noon Square (File photo by IGIS Asset Management) IGIS Asset Management Co., one of Asia's largest real estate investment firms, is seeking to sell a building backed by South Korea’s National Pension Fund (NPS) in Seoul for up to 400 billion won ($293.6 million).IGIS on Thursday sent requ
Central Business District (CBD) of Seoul (Courtesy of Getty Images) Prime office transactions in Seoul hit a 10-year low in the second quarter due to delayed fundraising amid uncertainties of the central bank’s rate cut timeline, global real estate services provider Savills plc’s So
The Asset in the Gangnam business district of southern Seoul Samsung Group is poised to acquire the Samsung Fire & Marine Insurance Co. headquarters building in Seoul for more than 1 trillion won ($724.4 million) from Koramco REITs Management and Trust Co., banking sources said on Tue
Gangman Business District in Seoul South Korea’s Public Officials Benefit Association (POBA) is set to commit 150 billion won ($108.5 million) in preferred stocks for offices in Seoul and Pangyo, the country’s so-called Silicon Valley, on expectations that the value of preferr
Image of Magok One Grove to complete construction by August 2024 (Photo file, courtesy of CBRE Korea) South Korea’s National Pension Service (NPS), the world’s third-largest pension fund, is seeing little demand for a Seoul-based new prime office in which the pension scheme ha
WeWork Euljiro (File photo, courtesy of WeWork Korea) Coworking space operator WeWork Inc. is slated to shut down a major office in Seoul, once one of the largest WeWork offices in Asia, in September as a part of its restructuring in the South Korean market, where the company entered in 2016.
WeWork workspace in Teheran-ro, southern Seoul (Image captured from WeWork Korea) Coworking space provider WeWork Inc. plans to downsize its business in South Korea, according to banking sources on Sunday. Market watchers say investors that lease offices to the coworking space giant in Korea fa