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Hyundai Group’s Yeonji-dong Headquarters Building (Photo courtesy of Hyundai Group / Yonhap News) |
[Alpha Biz= Paul Lee] Hyundai Group is in the process of selling its office building in Yeonji-dong, Jongno-gu, Seoul, through a sale-and-leaseback arrangement.
According to Hyundai Elevator’s regulatory filing on July 14, Bolt Asset Management has been selected as the preferred bidder. Although the exact sale price was not disclosed, industry sources estimate the deal to be worth several hundred billion won.
The move is seen as a strategic effort by Hyundai Group to secure funding for revitalizing its core business operations, with Hyundai Elevator at the center of this plan.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
