Mastern Investment Management, a company specializing in alternative investment, noted on the 25th that it will develop the ‘Musinsa Seongsu E4 Office’ in the core commercial district of Seongsu-dong, Seoul.

An overview of the Musinsa Seongsu E4 Office, which Mastern Investment Management is planning to develop. /Courtesy of Mastern Investment Management

The development site is located at 273-18 and 273-35 Seongsu-dong 2-ga, Seongdong-gu, Seoul, and the land was purchased by Musinsa from Neovalue, a real estate developer, in 2023. It is a 2-minute walk from Seongsu Station and adjacent to Yeonmujang-gil, which is the largest gathering place for foot traffic in the Seongsu commercial area.

Mastern Investment Management plans to form a fund to purchase the site, and Musinsa will participate from the initial stages of the development project to develop it into a landmark office in Seongsu-dong, with 5 basement levels and 12 above-ground levels. The construction company is expected to be selected in the second half of this year, with construction commencing thereafter.

This asset is set to be leased and used entirely by Musinsa after its completion in 2028. The first to fourth floors will feature offline fashion stores, while office space will be located from the fifth floor onward. There will be a differentiated ceiling height plan (offices at 4.3 meters and retail at 5.2 meters) and a rooftop terrace that can be used as a lounge and community space for tenants.

This project will be led by Jo Jang-hee, executive director of the Domestic Investment Management Division 4 at Mastern Investment Management. Executive Director Jo has successfully closed major projects, including Musinsa Seongsu E1 and the Concordian Building (formerly Kumho Asiana Headquarters). In this project, they were selected as partners through a competitive bidding process.

Hoon Namkoong, CEO of Mastern Investment Management, said, “Mastern Investment Management has accumulated successful experiences and know-how through various projects in Seongsu-dong, and this Musinsa Seongsu E4 Office will be a representative work combining Mastin’s expertise in alternative investment and Musinsa’s brand value. We will strive to successfully complete this project to ensure satisfaction for all investors and stakeholders.”