KKR, a leading global investment firm, announced today the signing of definitive agreements under which funds managed by KKR will acquire Namsan Green Building, a high-quality office building in Seoul’s Central Business District (“CBD”), via collective investment vehicles established under Korea’s Financial Investment Services and Capital Markets Act.
Namsan Green Building is a 57,574-square-meter office building in Seoul that was completed in 1994. It is strategically placed near important transportation networks, including Seoul Station, which connects to all major cities in Korea, and the Seoul Station Bus Transit, which serves the Greater Seoul area.
Today, the structure houses the headquarters of SK Broadband, a subsidiary of SK Telecom, Korea’s largest wireless carrier1, and the telecommunications arm of SK Group, one of the country’s largest conglomerates.
This acquisition occurs at a time when office market fundamentals are strong and demand for office space continues to climb sharply in Korea, despite a healthy labor market and scarce office space.
KKR is a multinational investment corporation that specializes in alternative asset management, capital markets, and insurance.
KKR seeks to achieve excellent investment returns by taking a methodical and disciplined approach to investing, hiring world-class people, and fostering growth in its portfolio companies and communities.
KKR manages hedge funds and sponsors investment funds that invest in private equity, credit, and real estate. Under the administration of Global Atlantic Financial Group, KKR’s insurance companies provide retirement, life, and reinsurance products.