Seoul Capital Area

ESR Successfully Launches Korea's First Open-ended Logistics Core Fund

Retrieved on:

Wednesday, February 14, 2024

RMB, EV, USD, GFA, Floor area, ESG, Seoul Capital Area, ESR Group, ESR, Cryptocurrency

HONG KONG, Feb. 14, 2024 /PRNewswire/ -- ESR Group Limited ("ESR" or the "Company", together with its subsidiaries, the "Group"; SEHK Stock Code: 1821), APAC's largest real asset manager powered by the New Economy, today announced that its South Korean platform, ESR Kendall Square (hereinafter referred to as "ESRKS"), has established Korea's first perpetual, open-ended core logistics fund. The newly-formed core fund portfolio includes seven trophy assets which are developed and managed by ESRKS.

Key Points:

The tenant base of the core fund portfolio primarily comprises major e-commerce and global third-party logistics ("3PL") companies.
With its launch, ESR also now has fund structures in new development, core-plus acquisitions and two complementary perpetual core vehicles with the ESR Kendall Square REIT and the new core fund, both of which are first-of-its-kind in the market.
Jeffrey Shen and Stuart Gibson, ESR Group Co-founders and Co-CEOs, said: "ESR is delighted to lead the way with the debut of our flagship open-ended logistics core fund in Korea.
Thomas Nam, CEO, ESR Korea, added: "We are proud to announce another milestone in successfully establishing Korea's first open-ended logistics core fund that will be managed perpetually.

BUSAN IN THE RUNNING TO HOST THE WORLD EXPO 2030: LATEST ANNOUNCEMENTS BEFORE THE FINAL VOTE FOR THE SOUTH KOREAN CITY

Retrieved on:

Monday, October 9, 2023

"Transforming Our World, Navigating Towards a Better Future" is the theme proposed by Busan for its bid to host the World Expo 2030.

Key Points:

"Transforming Our World, Navigating Towards a Better Future" is the theme proposed by Busan for its bid to host the World Expo 2030.
Situated at the heart of this remarkable transformation, Busan is a gateway to a better future and reflects the essence of the World Expo itself.
Busan wants to convey messages of inclusivity and enable as many countries as possible to participate in its World Expo.
View original content to download multimedia: https://www.prnewswire.com/news-releases/busan-in-the-running-to-host-th...
SOURCE World EXPO 2030 BUSAN, KOREA

BUSAN IN THE RUNNING TO HOST THE WORLD EXPO 2030: LATEST ANNOUNCEMENTS BEFORE THE FINAL VOTE FOR THE SOUTH KOREAN CITY

Retrieved on:

Monday, October 9, 2023

"Transforming Our World, Navigating Towards a Better Future" is the theme proposed by Busan for its bid to host the World Expo 2030.

Key Points:

"Transforming Our World, Navigating Towards a Better Future" is the theme proposed by Busan for its bid to host the World Expo 2030.
Situated at the heart of this remarkable transformation, Busan is a gateway to a better future and reflects the essence of the World Expo itself.
Busan wants to convey messages of inclusivity and enable as many countries as possible to participate in its World Expo.
Busan is the epicenter of K-pop and K-content, which have captured the hearts of Korean culture enthusiasts around the world.

KKR Acquires Namsan Green Building

Retrieved on:

Friday, April 28, 2023

Finance, Consulting, Banking, Professional Services, Asset Management, SK Telecom, Face, SK Group, Telecommunications, Seoul Station, SK Broadband, KKR, Greystar Real Estate Partners, Acquisition, City, Transport, Real estate, Commercial property, Seoul Capital Area

KKR, a leading global investment firm, today announced the signing of definitive agreements under which funds managed by KKR will acquire Namsan Green Building, a quality office building in Seoul’s Central Business District (“CBD”) through collective investment vehicles established under the Financial Investment Services and Capital Markets Act of Korea.

Key Points:

KKR, a leading global investment firm, today announced the signing of definitive agreements under which funds managed by KKR will acquire Namsan Green Building, a quality office building in Seoul’s Central Business District (“CBD”) through collective investment vehicles established under the Financial Investment Services and Capital Markets Act of Korea.
Completed in 1994, Namsan Green Building is a 57,574-square-meter office building in Seoul that is centrally located near major transportation networks, including Seoul Station that connects to all the major cities in Korea, and the Seoul Station Bus Transit serving the Greater Seoul area.
David Cheong, Managing Director, Real Estate at KKR, said, “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.
Namsan Green Building is KKR’s latest real estate investment in South Korea, and adds to past office investments in the country and across Asia including Namsan Square, an office tower located in Seoul’s CBD, K Twin Towers, a premium commercial property in Seoul’s CBD, Centerfield, a prime office complex in Seoul’s Gangnam Business District, Twenty Anson, a prime-grade office building in Singapore’s CBD, and office assets across Japan.

ESR and LOGOS achieve anchor close for its new co-branded Pan Asia Core+ Venture with US$250 million of equity commitments

Retrieved on:

Tuesday, September 27, 2022

SYDNEY and HONG KONG, Sept. 27, 2022 /PRNewswire/ -- ESR Group Limited ("ESR" or the "Company", together with its subsidiaries the "Group"; SEHK Stock Code: 1821), APAC's largest real asset manager powered by the New Economy, and its subsidiary LOGOS, a leading logistics specialist with operations across 10 countries in Asia Pacific, today announced the anchor close of its new co-branded Pan Asia Core+ Venture (PACV) totalling US$250 million in equity commitments. The initial raising, which was led by LOGOS on behalf of ESR Group, includes investment from two leading institutional capital partners, Nordrheinische Ärzteversorgung pension fund (NAEV) from Germany and a large US State pension fund.

Key Points:

With the acquisition of ARA and LOGOS in January of 2022, the Pan-APAC Core+ product represents the second co-branded venture for the enlarged Group, following the ESR LOGOS REIT.
PACV's first investment is in joint partnership with another LOGOS capital partner for a circa US$200 million forward purchase logistics facility in the Seoul Capital Area.
The LOGOS Siheung Logistics Centre will comprise state-of-the-art dry and cold warehouse facilities when completed in early 2024.
LOGOS' Managing Director and Co-CEO Trent Iliffe, said: "We are pleased to welcome NAEV and the US State Pension to this Venture.

UL Acquires KBW Corporation

Retrieved on:

Monday, February 28, 2022

Certification, Inspection, TIC, Intelligence, Safety, Safety engineer, Risk management, Acquisition, Seoul Capital Area, Testing, inspection and certification, Solution, CEO, Dietary supplement

NORTHBROOK, Ill., Feb. 28, 2022 /PRNewswire/ -- UL, a global safety science leader, today announced its acquisition of KBW Corporation, a Korean-based testing and market access services provider for medical devices and consumer technology products.

Key Points:

NORTHBROOK, Ill., Feb. 28, 2022 /PRNewswire/ -- UL, a global safety science leader, today announced its acquisition of KBW Corporation, a Korean-based testing and market access services provider for medical devices and consumer technology products.
"UL is a global leader in product safety and strives tobe therisk mitigation partner of choice for our customers.
We are delighted to welcomeKBW Corporationto UL, deepening the expertise we already offer in Korea and Asia Pacific overall," said Jennifer Scanlon, president and CEO, UL Inc. "We are confident this acquisition will allow UL to further help our customers succeed inever-changing global markets."
"We are excited to officially join UL," saidSung Hoon Baek, co-founder and CEO of KBW Corporation.

2021 P4G Seoul Summit to Kick Off on May 30 Leaders to Join Summit to Fight Climate Change

Retrieved on:

Monday, May 31, 2021

Buildings and structures in Seoul, Seoul, Seoul Capital Area, Summit, Heunginjimun, Cities in South Korea, Dongdaemun Design Plaza, Cities in Asia, Architectural history

SEOUL, South Korea, May 30, 2021 /PRNewswire/ --As responding to climate change emerges as the biggest issue in the international community, the 2021 P4G Seoul Summit will be held at Dongdaemun Design Plaza (DDP) in Seoul from May 30 to 31.

Key Points:

SEOUL, South Korea, May 30, 2021 /PRNewswire/ --As responding to climate change emerges as the biggest issue in the international community, the 2021 P4G Seoul Summit will be held at Dongdaemun Design Plaza (DDP) in Seoul from May 30 to 31.
It comes between the Leaders Summit on Climate hosted by U.S. President Joe Biden in April, and the 26th U.N.
The P4G Summit is a platform for public-private partnerships that can complement these inter-governmental climate responses.
The P4G Seoul Summit Preparatory Office said, "The summit will be participated in by 68 national leaders and heads of international organizations.

PICKPLUS, Korean used car exporter, awarded the Million-dollar-export Tower at the 57th Trade Day Awards

Retrieved on:

Monday, May 10, 2021

Seoul Capital Area, Republics, South Korea, East Asia, World Trade Center Seoul, Seoul, Geography of Asia, Administrative divisions, Incheon, Seo-gu, Korea International Trade Association, Export

b'SEOUL, South Korea, May 10, 2021 /PRNewswire/ -- PICKPLUS, a Korean used car exporter, recently has won the Million-dollar-export Tower on the 57th Trade Day.\nThe Korea International Trade Association held the 57th Trade Day at COEX in Samsung-dong, Seoul, in honor of the Korean companies who contributed to overseas exports in spite of the COVID-19 Pandemic.

Key Points:

b'SEOUL, South Korea, May 10, 2021 /PRNewswire/ -- PICKPLUS, a Korean used car exporter, recently has won the Million-dollar-export Tower on the 57th Trade Day.\nThe Korea International Trade Association held the 57th Trade Day at COEX in Samsung-dong, Seoul, in honor of the Korean companies who contributed to overseas exports in spite of the COVID-19 Pandemic.
PICKPLUS won the Million-dollar-export Tower in recognition of the work to export about 2,000 cars annually to Latin America, Africa, and the Middle East.\nPICKPLUS headquartered in Goyang-si with a distribution center in Seo-gu, Incheon specializes in exporting used cars.
We seem to have been recognized for our achievements and efforts as a winner of the Million-dollar-export Tower.
"\nFor more information on PICKPLUS, please visit https://www.pick-plus.com/ .\nView original content to download multimedia: http://www.prnewswire.com/news-releases/pickplus-korean-used-car-exporte...\n'

Seoul Semiconductor’s First Quarter Net Income Quadrupled on Year

Retrieved on:

Tuesday, May 4, 2021

Semiconductor, Engineering, Consumer electronics, Technology, Manufacturing, Hardware, Seoul, Seoul Capital Area, Lumileds, Net income, Business, Economy

Net profit was KRW 24.5 billion which is equivalent to 85% of its full year net income in 2020.

Key Points:

Net profit was KRW 24.5 billion which is equivalent to 85% of its full year net income in 2020.
Seoul recorded historical high first quarter revenue and net profit.\nThis press release features multimedia.
In April, Seoul reported that its LED package business ranked the third globally in 2020 surpassing Lumileds, a LED manufacturer in the U.S. according to Omdia, a global market research leader.
We have been investing to capture new growth opportunities,\xe2\x80\x9d said an officer at Seoul.

Seoul Viosys Records Historical High First Quarter Earnings

Retrieved on:

Tuesday, April 6, 2021

Other Manufacturing, Hardware, Health, Infectious diseases, Consumer electronics, Technology, Semiconductor, Manufacturing, Seoul, Seoul Capital Area

Seoul Viosys Co., Ltd. (Seoul) (KOSDAQ 092190), a leading global compound semiconductor provider, today announced that despite low seasonality, it achieved the highest first quarter sales of all time (preliminary sales announcement).

Key Points:

Seoul Viosys Co., Ltd. (Seoul) (KOSDAQ 092190), a leading global compound semiconductor provider, today announced that despite low seasonality, it achieved the highest first quarter sales of all time (preliminary sales announcement).
This year, we expect historical high sales as high-end WICOP sales are steadily increasing as well, said an official of Seoul Viosys.
Seoul Viosys decided to buy back KRW 10 billion worth of shares on March 19 to enhance shareholder value.
Seoul Viosys newly decided to disclose its provisional quarterly consolidated financial statements (sales) from 2021 to strengthen shareholder communication.