Hyundai Group is pushing to sell its headquarters in Yeonji-dong, Jongno-gu, Seoul.
According to the investment banking (IB) industry on the 22nd, Hyundai Group has selected Samjung KPMG as the advisory firm for the sale of the headquarters.
The sale method is expected to be sale and leaseback.
The Hyundai Group headquarters in Yeonji-dong consists of the East Building (4 basement floors to 12 above ground) and the West Building (4 basement floors to 16 above ground) on a site of 11,179.7 square meters (approximately 3,381 pyeong).
Hyundai Elevator sold this building to Koramco Asset Management in 2012, and it was utilized as a headquarters. Later, Hyundai Elevator exercised its right of first refusal in 2017 to reacquire the building for over 200 billion won, and now, after eight years, is pushing for a resale.
Hyundai Group plans to use the proceeds from this headquarters sale for future investments and to enhance shareholder value.