According to Yonhap News,

(SEOUL=Yonhap News)Goldman Sachs, a global investment bank (IB), will invest around $2 billion in the real estate market in South Korea, mostly in the logistics centers.

According to the sources from the financial investment industry on August 26, Goldman Sachs Asset Management has recently set up a real estate due diligence team at the Seoul office of Goldman Sachs.

Goldman Sachs has been said it would make two trillion won or so investment in properties in Korea, mostly in logistics and data centers, for the next two years.

It is said to have already acquired a property for logistics center in Icheon, Gyeonggi Province.

The investment will be made through an overseas real investment fund of Goldman Sachs Asset Management.

To this end, the Seoul Office of Goldman Sachs added investment support for subsidiary-run overseas funds to its business scope in the Financial Supervisory Service on August 19.

Goldman Sachs has made active investment in real estate assets in South Korea, including redevelopment of Gangnam Renaissance Hotel, Samsung Card building in Jongno and Lotte Young Plaza in Daegu.

rice@yna.co.kr


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Source: Yonhap News (August 26, 2021)