Recap of 1H 2023 Greater Seoul Logistics Center Market, the importance of the number of groundbreakings
2023. 07. 17 · Victor Yongmin Jun
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Korean logistics center market has explosively grown for the last 10 years, now we are stepping into a new era. The market was once dominated by only a few foreign investors, and last few years was very crowded and confusing with too many players. Korean logistics has become one of the major sectors in CRE in Korea already, and will further grow with full of potential opportunities.
The concern over the oversupply of logistics centers is a significant challenge that has already been ingrained in the minds of market participants over a considerable period of time. Regardless of the Seoul metropolitan area, central region, or southern region, as the cumulative volume of construction permits increases significantly, worries about future supply have become pervasive. Taking a step further to gauge the actual supply, the most reliable and substantiated figure would be the groundbreaking area. Even if there are numerous construction permits for a large area, only the areas where actual funding has been secured and construction has commenced can be considered as the realistic estimated supply […]
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Victor Yongmin Jun
Director, Hocosin Inc.
Victor worked as an industrial & logistics professional conducting transaction & leasing advisory at CBRE Korea since 2011 and thus has a relatively deep understanding of the Korean logistics investment market and history. After CBRE, he joined Colony Capital Korea branch, the real estate private equity firm headquartered in Los Angeles, where he was in charge of investment analysis of logistics center, data center, and other sectors. He was highly involved in the outbound fundraising from Korean LPs into Colony’s signature NPL funds as well. He is working at Hocosin Inc. as a logistics center developer and also providing advisory services to diverse investors.
Major Career
CBRE Korea Industrial & Logistics transaction & leasing advisory
Colony Capital Korea branch investment analyst & fundraising support
PK Invest (Family Office) Investment
CCIM Korea Chapter International Committee Chair (2019~2021)
University of Michigan, Ann Arbor (Bachelor of Arts, Economics)
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