Some assets in the Seoul market are essentially untouchable. If the owner has no intention to sell, there is zero chance of a trade. Seoul Finance Center (SFC) located in Gwanghwamun, Seoul and Gangnam Finance Center (GFC) located in Gangnam are a few of those untouchable assets. Both were acquired by the Government of Singapore Investment Corporation, or GIC, in the early 2000s. SFC was acquired for USD 400 million in 2000. This was GIC’s first investment in Korea. Then in 2004, GFC was acquired for around KRW 900 billion. GIC has owned GFC for 20 years, and SFC for more than two decades. GIC is implementing a […]