Interest Rate Hike Pushes All Large Deals to Next Year As uncertainty in the financial market continues with another interest rate hike, all large-scale transactions in the commercial real estate market scheduled for this year have been postponed until next year or canceled outright. The first sign of trouble was the breakdown of the Yeouido International Financial Center (IFC) deal in September, which was considered the biggest transaction in the Korean commercial real estate market this year. Preferred bidder Mirae Asset Management struggled to recruit investors, and while negotiations continued into September, the buyer and seller ultimately failed to reach an agreement. Other high-interest assets such as the Gwanghwamun Concordion […]