This article was published on July 15, 2025, at 2:28 p.m. on the ChosunBiz MoneyMove site.
UAMCO is pushing to sell the office building currently used as its headquarters. This follows the recent acquisition of the Jeongan Building in Seoul's Seosomun area for its new office.
According to the investment banking (IB) industry on the 15th, UAMCO has sent a request for proposal (RFP) to commercial real estate consulting firms and accounting firms to sell its equity in its headquarters, the Yuwon Building. UAMCO plans to receive proposals by the 25th of next week and hold a presentation (PT). They aim to select a sales advisory firm within this month to initiate the full sales process.
The sale target is the equity of the 4th to 6th floors (three floors) of the Yuwon Building, which UAMCO currently uses as its headquarters. The Yuwon Building is a collective building with separated ownership by unit numbers. UAMCO's exclusive area is 1,978.81㎡, and its land ownership is at the level of 359.5304㎡. The exclusive area refers to the space over which the unit owners have control among collective buildings.
Completed in 1985, the Yuwon Building is a medium-sized office with a total area of 20,041㎡ spanning from four basement floors to 17 above ground. It is located in an area dense with major corporations and financial institutions and is connected to the underground arcade at Seoul City Hall Station, where subway lines 1 and 2 intersect, receiving high marks for its location. UAMCO has used it as its headquarters since its establishment.
UAMCO is selling its current headquarters to facilitate its transfer to a new office. In March, UAMCO acquired the Jeongan Building, a prime office located in Seosomun-dong, from Eden Asset Management. The purchase price was confirmed at around 27.6 million won per square meter, equating to approximately 138.1 billion won in total area.
Previously, UAMCO, which was using part of the Yuwon Building as its headquarters, sought a transfer when it faced office space shortages. Upon discovering that some floors of the nearby Jeongan Building were becoming available as a lease term expired, they explored the acquisition. UAMCO currently uses some floors as offices while leasing others.
Completed in 1996, the Jeongan Building is a medium-sized office asset with five basement floors and ten above ground, offering a total area of 15,687㎡. Eden Asset Management acquired the Jeongan Building in 2021 through the Eden SP Blind No. 1 fund, established with funds from Shinsegae Property and the Administrative Government Employees Association. At that time, the acquisition price was around 105.5 billion won.