One of the most notable features of the Seoul office market last year was the influence of strategic investors (SI). Among the three major office districts in Seoul, SIs were particularly active in the Gangnam office market. Early last year, Nexon acquired a 50% stake in Autoway Tower near Samseong Station from the Korea Teachers’ Credit Union (KTCU), and Hyundai Motor Group acquired a 50% stake in Scale Tower near Gangnam Station, an asset developed by SK D&D. Hyundai Motor Group showed a clearly different approach to the office market than financial investors by setting the highest-ever bid for a Seoul office that exceeded KRW 50 million per […]