On March 25, KB Asset Management selected IGIS Asset Management as the preferred bidder for SI Tower (formerly ING Tower). The building is located on Teheran-ro in Gangnam and the headquarters for Hyundai Mobis.  The price proposed by IGIS is approximately KRW 44 million per 3.3 square meters for a total of KRW 900 billion. IGIS plans to acquire the property using a long-term equity fund that has received investment from the Korea Teachers’ Credit Union. Nine asset management companies from both Korea and abroad participated in the fight to acquire the building, including BentallGreenOak (BGO) and Gaw Capital.