Office: Gangnam Kyobo Tower, which saw vacancy rise following the relocation of Doosan Heavy Industries & Construction, has partially offset the rise by signing new lease contracts with tenants such as Daangn Market and Bulgari.
Retail: The Hyundai Seoul, the new largest department store in Seoul, has opened in Yeouido. The new store takes the crown for the city’s largest department store from Shinsegae Gangnam and incorporates aspects of naturalism in the city through the concept of retail therapy.
Investment: Despite the decrease in the volume of transactions in the first quarter, the office transaction market, which has been active since 2018, is continuing. Especially, in this quarter there were many transactions of large-sized office buildings that are owned separately.
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