One of the biggest topics in the Seoul downtown office market last year was the Government of Singapore Investment Corporation (GIC) putting assets up for sale that was held for nearly 20 years. Starting with The Exchange Seoul (TES) then continuing with Seoul Finance Center (SFC), GIC moved to sell its iconic Mugyo-dong assets against all predictions. TES was acquired by the National Pension Service in partnership with Koramco Asset Management, and SFC conducted a bidding process last December, but the transaction fell through due to a gap in expectations between the buyer and seller. Bidders included Hyundai Investment Asset Management, which partnered with BentallGreenOak (BGO), as well […]