KKR has bought Namsan Green Building, an office building in Seoul’s central business district through collective investment vehicles established under the Financial Investment Services and Capital Markets Act of Korea.

Completed in 1994, Namsan Green Building in a 57,574-square-metre office building in Seoul that is located near transportation networks, including Seoul Station that connects to major cities in Korea and the Seoul Station Bus Transit. Today, the building operates as the headquarters of SK Broadband, a subsidiary of SK Telecom, a wireless carrier and the telecommunications arm of SK Group.

“Our investment in Namsan Green Building provides us with a unique opportunity to acquire a high-quality asset in a strategic location and add value by leveraging our real estate expertise to enhance its offerings for today’s modern office demands,” comments David Cheong, managing director, real estate at KKR. “We remain confident in the long-term prospects of Korea’s office real estate market, where future supply is extremely limited and demand for office space continues to be resilient, and look forward to helping the country meet its office space needs.”