Hyundai Motor Company and Kia Corporation have announced the development of the Integrated Greenhouse Gas Information System (IGIS) a cutting-edge platform designed to monitor quantify and manage carbon emissions throughout the entire vehicle lifecycle By leveraging the Life Cycle Assessment (LCA) methodology IGIS provides detailed quantification and tracking of carbon emissions throughout the entire lifecycle of a vehicle This approach enables the companies to systematically assess emissions ensuring accurate and consistent data collection The system monitors energy consumption across global production facilities maintaining a comprehensive record of carbon management activities IGIS facilitates the collection of LCA data from supplier sites and components which is used to calculate carbon footprint and predict greenhouse gas emissions across the supply chain IGIS also leverages blockchain technology to support data integrity and security making it difficult to tamper with or falsify information This robust system fosters transparent and reliable carbon emissions management providing a high degree of confidence in the accuracy of the data collected The launch of IGIS signifies a significant leap in Hyundai Motor and Kia’s commitment to carbon neutrality, following the debut of the Supplier CO2 Emission Monitoring System (SCEMS) in 2023 IGIS is expected to streamline data management and enhances operational efficiency by integrating existing systems in Hyundai Motor and Kia IGIS's integration of carbon emissions data will enhance Hyundai Motor and Kia's capacity to quickly react to upcoming international environmental regulation changes and fulfill external certifications such as CDP and RE100 The system will facilitate proactive compliance and solidify the companies’ commitment to global sustainability initiatives This innovative platform highlights Hyundai Motor and Kia’s dedication to environmental responsibility and sustainability in the automotive industry By embracing innovative technologies and adopting a comprehensive approach to carbon management the companies are paving the way for a more sustainable future Hyundai Motor Group today outlined action plans to establish a waste-to-hydrogen ecosystem in West Java Province This move reinforces the company’s commitment to reducing its carbon footprint while supporting the local economy and the global transition to green mobility The conference aims to accelerate the transition to a software-defined vehicle (SDV) development system and expand the app ecosystem for Hyundai Motor Executive & Internal Communications Expert Corporate & Brand Communications Expert © Copyright 2025 Hyundai Motor Company We use cookies for analysing our own services and to show ads which are relevant for you based on your browsing habits. 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Hyundai Motor Co. and Kia Corp. recently announced the development of a system that will monitor and manage carbon emissions throughout the vehicle lifecycle Integration Greenhouse Gas Information System (IGIS) leverages the Life Cycle Assessment (LCA) methodology to provide detailed quantification and tracking of carbon emissions It says the system allows the companies to assess emissions and ensure accurate and consistent data collection Energy consumption is monitored across global production facilities while maintaining a comprehensive record of carbon management activities via the system IGIS facilities can also collect LCA data from supplier sites and components The data can be used to calculate the carbon footprint and predict greenhouse gas emissions across the supply chain While the press release doesn’t dive into details about post-production monitoring, Gagadget, a media site, says IGIS will also collect data during vehicle operation and post-life cycle disposal Blockchain technology will be used to support data integrity and security “In our mission to achieve carbon neutrality by 2045 we are taking a significant leap forward with the development of IGIS,” said Eunsook Jin executive vice president and head of ICT Division at Hyundai Motor and Kia we are intensifying our efforts to build a responsible value chain demonstrating remarkable innovation in the automotive industry.” The companies launched the Supplier CO2 Emission Monitoring System (SCEMS) to manage the carbon emissions of business partners in 2023 IGIS will enhance the ability of both companies to react to upcoming international environmental regulation changes and fulfill external certifications such as CDP (Carbon Disclosure Project) and RE100 a global corporate renewable energy intuitive It adds the systems will facilitate proactive compliance and solidify the companies’ commitment to global sustainability initiatives CDP is a non-profit that encourages corporations disclose their climate impact “This innovative platform highlights Hyundai Motor and Kia’s dedication to environmental responsibility and sustainability in the automotive industry,” the release says “By embracing innovative technologies and adopting a comprehensive approach to carbon management the companies are paving the way for a more sustainable future.” Business The Ritz-Carlton to return to Seoul in 2031 having been selected to operate a hotel at the redeveloped Millennium Hilton Seoul site by 2031 the asset manager for the site announced Monday which is in charge of running the Iota project that involves the redevelopment of the premises of the former Millennium Hilton Seoul in Jung-gu into a mixed-use property selected The Ritz-Carlton brand as the preferred bidder to run the hotel to be rebuilt at the site While top global hotel operators submitted letters of intent to run the redeveloped hotel Igis chose to team up with The Ritz-Carlton The brand is a top-tier luxury label under the wings of hotel giant Marriott International which owns a portfolio of more than 30 hotel brands Marriott International had previously operated The Ritz-Carlton hotel in southern Seoul from 1995 until it closed in 2016 There has not been a Ritz-Carlton hotel in the capital city since The Iota project spans roughly 460,000 square meters and extends out to the nearby Metro and Seoullo Towers the hotel will take up some 58,400 square meters With its management and disposal plan recently authorized “We selected The Ritz-Carlton in light of the brand’s willingness to set up the most luxurious hotel in Seoul its specialty on the Korean market and its global recognition,” an official from Igis Asset Management said “The return of The Ritz-Carlton will upgrade Seoul’s status in the luxury hotel market across Asia and enhance the charm of Seoul Station-Namsan downtown area.” Lee Jae-myung leads in hypothetical three-way race with Han Duck-soo the presidential candidate of South Korea’s main liberal Democratic Party holds a lead in a potential three-way race for the country’s next election 15% of Korean wage workers have flexible work schedules: data Koryo saram are 'living bridges' of Kazakh-Korean ties 'Smile at me': Cancer-fighting senior influencer inspires with strength CU launches visa support services for foreign nationals SK Telecom scrambles to restore trust after massive data breach Inflation understanding falls sharply among S Rise of Korea’s dollar store Daiso explained in 2 minutes Respect wanes: Teaching no longer highly coveted job in S South Koreans get creative with Parents’ Day gifts Korean mothers are opting for C-sections at record rates Business Igis to redevelop Namsan Hilton site into a global landmark Local real estate asset manager Igis Asset Management announced Friday that its plans to redevelop the former Hilton Seoul site near Namsan are officially underway following approval from the Seoul Metropolitan Government earlier this week will transform the 338,982.69-square-meter site into a modern retail spaces and a public green area comprising 40 percent of the site Construction is slated to begin in the first half of 2025 led by YD427 Project Financing Vehicle in collaboration with Hyundai Engineering & Construction and Shinhan Financial Group The project will also extend to nearby Metro and Seoullo Towers expanding the total redevelopment area to 460,000 square meters “The redevelopment will not only modernize the Seoul Station area but also integrate green spaces and advanced facilities creating a sustainable and vibrant hub,” an Igis Asset Management official said The plans include public infrastructure upgrades such as escalators connecting Seoul Station to Namsan The design will also prioritize preserving clear views of Namsan “The Iota project will elevate Seoul’s status as a global city by creating a space that harmonizes nature culture and cutting-edge architecture,” the official added Does an electric car pollute more or less than a combustion engine car Hyundai Motor Company and Kia Corporation are going to try to give as precise an answer as possible to this persisting question They will do this through a new digital platform called the Integrated Greenhouse Gas Information System (IGIS) which will monitor and quantify the amount of CO2 produced throughout a car's lifecycle the digital platform relies on a blockchain system that certifies the accuracy and security of the data making it very difficult to modify the information collected Hyundai decided to develop this method of calculating the environmental impact of its cars for several reasons to certify its commitment to the fight against CO2 emissions and to have a reliable tool to demonstrate when it will actually achieve the carbon neutrality announced for 2045 Hyundai will also be able to analyse all aspects of automotive production in order to improve the efficiency of all processes And that's not all as the company has announced that it will also be able to react quickly to the arrival of new environmental regulations easily understanding how to adapt to new standards imposed in different parts of the world The 2025 Hyundai Ioniq 9 Starts at $60,555 2026 Jeep Compass Unveiled: Hybrid or EV With Up to 375 HP Lotus Emira With Yellow Exhaust Tips Pays Tribute to an F1 GOAT Hyundai Group Just Set Another Sales Record The Cadillac Celestiq Will Be as Rare as a Bugatti Hyundai Is Planning a Rear-Wheel-Drive Hybrid Igis Asset Management announced on the 11th that it has delivered 100 million won to the Seoul Community Chest of Korea (Seoul Love Fruit) to recover from large-scale forest fires in the Yeongnam region the company plans to stabilize the livelihood of residents affected by forest fires An official from Igis Asset Management said "We deeply sympathize with those affected by unexpected wildfires and we hope that Igis Asset Management's support will help us to recover our daily lives." The support was made as part of Igis Asset Management's "Win-Win and Future Committee" activities launched on the 25th of last month The committee further solidifies social contribution activities that have been sustained while seeking public interest ideas to communicate with local communities in the process of space development and operation ※ This service is provided by machine translation tool [This article was reported on "Radar M" on April 21 (14:04)] Igis Asset Management announced on the 21st that it has selected Marriott International's "The Ritz-Carlton" brand as the preferred bidder for hotel operation of "Iota Seoul," a large complex built around the site of the former Namsan Hilton Hotel Ritz-Carlton is the top luxury brand among the 30 hotel brands owned by Marriott International it started with Hotel Ritz Paris and currently operates more than 110 hotels around the world The Iota Seoul project recently completed all the preparations necessary for development with the approval of the management disposal plan and succeeded in attracting a high-end luxury hotel Igis Asset Management and Hyundai Engineering & Construction will participate as the project development entity and contractor The site of the former Namsan Hilton Hotel opposite Seoul Station will be developed as a world-class landmark and retail facilities centered on new brands with 10 basement floors and 39 floors above ground It is expected to emerge as a new attraction in Seoul by increasing accessibility from Seoul Station to the entrance of Namsan Mountain and greatly expanding public green space The total floor area of development is 460,000㎡ Ritz-Carlton introduced its first hotel in Gangnam in 1995 but withdrew in 2016 due to the end of the operating contract the hotel will re-enter the hotel with luxury concepts and designs that meet global standards for the first time in 15 years Competition was fierce in the hotel brand selection process with luxury brands from the world's five major hotel chains The industry evaluates the selection process as a barometer for the re-establishment of the Seoul hotel market "We selected Ritz-Carlton in consideration of its global recognition and willingness to build the best luxury hotel in Seoul," a Igis Asset Management official said "The return of Ritz-Carlton will raise Seoul's status in the Asian luxury hotel market and further enhance the charm of Seoul Station-Namsan downtown area." Macquarie Asset Management has reportedly been selected as the preferred bidder for a newly-built data center in Seoul Seoul Property Insight and others report that Igis Asset Management has chosen Macquarie to acquire the Hanam Data Center in Gyeonggi province outside of Seoul The investment firm is said to be in due diligence for the 40MW facility Igis Asset Management is a major asset management company in APAC It has close to $50 billion in assets under management; almost four percent is invested in data centers The firm closed its second data center fund last year with $151 million in investment LG CNS, an IT services subsidiary of LG Corp, signed an agreement with Igis to develop data centers last year the companies said they were working together to build large-scale data centers in South Korea including the Hanam Data Center and Samsung Data Center The company is said to have broken ground on the 41,900 sqm (451,030 sq ft) data center in October 2021. Reports that Igis was looking to sell the facility surfaced in November 2023 Macquarie’s data center investments include Aligned NTT GDC’s European and North American facilities and AirTrunk in APAC – though it is said to be close to selling the latter company Macquarie Capital has also invested in European operator KevlinX Data Centre Dynamics Ltd (DCD), 32-38 Saffron Hill, London, EC1N 8FH Email. [email protected]DCD is a subsidiary of InfraXmedia Macquarie Korea Infrastructure Fund (MKIF) has signed a deal to buy a 40MW data center in Seoul Reports that MKIF might purchase the facility first emerged in June 2024 First reported by the Australian Financial Review and is being acquired from Seoul-based IGIS Asset Management Co Spanning 41,919 sqm (451,212 sq ft) across 12 stories Kakao Corp rents 92 percent of the data center with LG Group's LG CNS Co The transaction is currently set to be completed in September “We see rising demand for data centers as they are the core infrastructure assets for growth of generative artificial intelligence and cloud services and upward trend in outsourcing,” said Macquarie Korea Asset Management Co “We forecast growing demand for Hanam IDC from corporate clients as the asset is located in the Seoul metropolitan area where stable communication networks are available and securing additional water sources is challenged.” MKIF is expected to spend a total of around $672 million on the facility having agreed to a reduced valuation of the data center in exchange for covering remaining construction costs including mechanical and plumbing systems along with some financing costs MKIF will pay for the transaction with a combination of equity The transaction will go through with a cap rate in the low to mid-six percent range IGIS is said to have broken ground on the data center in October 2021. Reports that the company was looking to sell the facility surfaced in November 2023 IGIS and LG CNS teamed up to develop data centers in September 2023 Macquarie Asset Management and PSP Investments currently hold a combined 88 percent stake in the company Data Centre Dynamics Ltd (DCD), 32-38 Saffron Hill, London, EC1N 8FH Email. [email protected]DCD is a subsidiary of InfraXmedia The sale of the largest shareholder's stake in Igis Asset Management Discussions on the sale of the largest shareholder's stake have already taken place once in March last year "The sale of the largest shareholder's stake is scheduled," adding "Igis Asset Management SMP (Senior Managing Partner) one of the key executives who has led the growth since the company's foundation will remain at the company to help the largest shareholder sell their stake smoothly while supporting the growth of the company and its executives and employees." According to the financial investment industry on the 27th Igis Asset Management's largest shareholder appointed Morgan Stanley as the organizer of the sale and is seeking to sell all of her holdings Son is the wife of the late chairman Kim Dae-young The deceased died in 2018 and inherited 45.5% of the entire stake but has steadily reduced its stake over the past six years and maintains 12.4% It is considered a rare case of growing the company by separating ownership and management even after the death of its founder The main shareholders of Igis Asset Management are Daishin Securities (9.13 percent) Geumseong Swan House (8.59%) and Hyundai Motor Securities (6.59%) which are dispersed without much difference in the share ratio between major shareholders there is a possibility that Hyundai Motor Securities Korea Land Trust (5.31%) and Woori Bank (0.8%) will participate in the sale the stake subject to sale will total 25.1% The Igis Asset Management explained that the bereaved families expressed their intention to sell it in consideration of the situation of the elderly Son but decided not to proceed for the time being in consideration of the current market and the company's situation Son appointed Morgan Stanley as the organizer of the sale which seems to have increased the possibility of the sale it is known that a specific candidate for purchase is not yet in the stage of discussion "I will maintain my stake and help the largest shareholder sell their stake smoothly as well as the growth of the company and its executives and employees," SMP Cho Gap-joo said in an in-house email Igis Asset Management is a real estate investment management company that actively jumped into the real estate development business and grew rapidly in a short period of time Major hotel franchises are vying to operate a new hotel to be launched as part of the Millennium Hilton Seoul redevelopment project While the redevelopment project involving the former Millennium Hilton Seoul site near Namsan and Seoul Station is underway led by local real estate asset manager Igis Asset Management top global hotel operators have submitted letters of intent to run the redeveloped hotel Each chain has put forward its top-notch luxury brands in the competition Kerzner International for One & Only and Shangri-La for its eponymous brand will transform the 339,000-square-meter site into a mixed-use property The total redevelopment area is over 460,000 square meters global hotel operators are eyeing to expand their presence here 16.37 million foreign tourists visited Seoul hotels in the Seoul area have been enjoying high occupancy rates The average occupancy rate of major hotels in Seoul was reported to be above 80 percent in November last year a relatively high number for the offseason While the Iota project is expected to wrap up around 2030 the iconic hotel lobby of the Millennium Hilton Seoul will be preserved throughout the redevelopment process The hotel property featured a main lobby at the entrance which was designed by the nation's leading contemporary architect “Top hotel brands have shown a willingness to operate a hotel on the Hilton Seoul site The launch of a global luxury hotel brand will strengthen Seoul’s appeal,” an official from the real estate industry said The Korea Herald by Herald CorporationCopyright Herald Corporation As the global commercial real estate market passes the peak of high-interest rates and Europe show a gradual recovery and Asia has investment opportunities centered on growth sectors the Igis Asset Management Strategic Research Office recently released the "2025 Global Commercial Real Estate Outlook" report with this content Uncertainties such as expanding political risks and adjusting the pace of interest rate cuts are being confirmed which accounts for the largest global commercial real estate market office demand has gradually recovered due to the strengthening of major conglomerates' Return to Office (RTO) policies since the second half of last year It is also having a positive impact on the formation of price lows and the recovery of investor sentiment as new supplies decline short-term risks have increased due to slowing e-commerce growth and increased supply but gradual stabilization is observed due to increased manufacturing logistics due to near and on-shoring trends Europe has seen the longest market slowdown among global regions but expectations for an economic recovery and a shift in prices of commercial real estate are raising market expectations The logistics and multi-family sectors have maintained good returns over the past five years while the office and retail sectors have shown low returns but they have been turning to recovery since last year The Asia-Pacific region has seen a rapid recovery in demand since the COVID-19 pandemic in the office sector China and Australia are expected to see long-term rent increases due to slowing office supply and the commercial housing market is expected to expand due to rising home purchase prices and increasing aging rates but the commercial real estate market is also expected to gradually recover as domestic stimulus-oriented policies solid fundamentals and European economic cycle recovery are expected," said Park Jung-min head of the Strategic Research Office at Igis Asset Management "Asia has recorded relatively high returns for traditional sectors but it is expected that the hurdle will increase in securing profits through sales in the future," he said "In addition to investments focused on rental income investments that secure additional profits in growth sectors such as housing and data centers will be effective." a complex shopping mall near Konkuk University Station in Seoul According to the investment bank (IB) industry on the 28th Igis Asset Management recently announced that a voluntary auction for Mall of K has begun "Easy Retail Real Estate Investment Trust No 194," a public offering fund containing Mall of K failed to pay 1.5 billion won in loan interest in November last year Igis Asset Management had been discussing extending maturity and selling assets with the lender and the lender declared an EOD in February this year The company tried to find the original buyer by conducting an open sale until the 17th of this month and it is understood that the lender applied for an auction and began collecting bonds It is located near the Chinese food alley in Jayang-dong and is rented by CGV movie theater on the upper floor but most of the rest of the floors are vacant the Igis Asset Management purchased Mall of K using public offering funds and mortgage loans from fund investors the asset purchase price was 59.6 billion won subordinated mortgage loans of 5.2 billion won the value of assets also fell as the business district of Konkuk University stagnated due to the COVID-19 pandemic in 2020 The headquarters of Doosan Engineering & Construction According to the investment bank (IB) industry on the 23rd Igis Asset Management recently sent a bid proposal request (RFP) to real estate consulting firms and accounting firms to select the organizer for the sale of Doosan Engineering & Construction's headquarters The headquarters of Doosan Engineering & Construction is located at 726 Eonju-ro It has 4 floors underground and 20 floors above ground Igis Asset Management has 1 basement floor Doosan Engineering & Construction owned the office building but sold it to Hana Alternative Investment Asset Management in 2013 as it began a workout (company financial structure improvement work) Igis Asset Management took over the building Doosan Engineering & Construction has a masterless (responsible lease) contract for its current office building by 2028 As it is located in the Gangnam area (GBD) many domestic and foreign investment companies are expected to pay attention The industry expects that the total sale price of Doosan Engineering & Construction's office building will be decided between 300 billion won and 400 billion won Igis Asset Management plans to select a preferred bidder for the sale within this year Welcome to IPE Real Assets. 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Read our policy By 2024-08-05T11:58:00+01:00 has led the purchase of a KRW734bn (€491m) data centre in South Korea from local asset manager IGIS Macquarie said the 40MW Hanam data centre in Gyeonggi province was spread across 12 floors “With the growth of IT technologies such as generative AI and cloud services as well as the growing need to outsource IT services the growing demand of data centres is a key driver of digital infrastructure” said Jason Suh the head of Macquarie Korea Asset Management said Macquarie, with a data centre portfolio spanning from the US to Asia, is looking to offload its majority stake in pan-Asian platform AirTrunk.  jointly owned with Canada’s PSP Investments is expected to fetch around A$15bn (€8.8bn) in the sale. It has attracted bids from infrastructure players including IFM Investors in a consortium with DigitalBridge and Global Infrastructure Partners Blackstone and CPP Investments.   To read the latest IPE Real Assets magazine click here Copyright © 1997–2025 IPE International Publishers Limited Site powered by Webvision Cloud Connecting decision makers to a dynamic network of information Bloomberg quickly and accurately delivers business and financial information 2024 at 4:19 AM EDTBookmarkSaveThe Korean owners of one of Frankfurt’s best known skyscrapers failed to agree a restructuring plan for a loan tied to the building Igis Asset Management announced on the 17th that it has completed introductory training and department placement for the 9th new employee which was publicly hired earlier this year In the seven-week introductory course conducted by various experts intensive education and learning on key areas of work such as investment new employees came up with fresh ideas such as △ urban senior residence development project using closed school sites △ sustainable retail space model △ residential convergence solution for city business area (CBD) offices including developing a closed school site in the city center which is increasing due to a decrease in the number of newborns as a senior residence and after-school care space and working with the public sector to minimize gentrification and create a sustainable retail business district "New employees have proposed cool ideas that consider not only publicity but also profitability such as injecting new utility into spaces that have lost their value in use or presenting new models of sustainable development as trends change." The Igis Asset Management is hiring new employees for the ninth term which is unusual in the asset management industry which focuses on hiring experienced workers "We are laying the groundwork for new employees to grow into asset management experts through systematic education programs," said Lee Kyu-sung "We will continue to secure the company's sustainable growth engine by cultivating excellent talent." [This article was reported on "Radar M" on April 11 (13:54)] Igis Asset Management will proceed with the sale process of a retail complex near Konkuk University in Seoul where EOD (loss of limited profits) occurred According to the financial investment industry on the 11th the Igis Asset Management recently announced that it would sell Mall of K which is owned by Aegis Retail Real Estate Investment Trust No After receiving the bidding documents by the 17th the company plans to conduct an interview and determine the preferred bidder for the sale the Aegis 194 Fund failed to pay 1.5 billion won in loan interest Igis Asset Management had been discussing extending its maturity and selling assets with the lender there is a possibility that it will go to a public sale process the value of assets has also fallen as the recovery speed of Konkuk University's commercial district has increased due to the COVID-19 pandemic in 2020 The Aegis 194 fund currently has a return of -48.22% since its set-up is located near the Chinese food alley in Jayang-dong It has three basement floors and four ground floors An official from the Igis Asset Management said "We will devise various measures to minimize investors' loss of investment we will do our best to consult with a securitization company (debt transferee)." Igis Asset Management will embrace a superior office "SI Tower" in Gangnam According to the investment bank (IB) industry on the 25th KB Asset Management selected Igis Asset Management as the preferred bidder for the sale of SI Tower Igis Asset Management decided to acquire the office in the middle of 40 million won per 3.3㎡ and in the late 800 billion won total JLL Korea and Calliers Korea were in charge of the sale Since SI Tower is an asset located in the center of the Gangnam area (GBD) a number of domestic and foreign investors jumped into the bidding held on the 19th of this month KB Asset Management owns SI Tower through 'KB WiseStar Samo Real Estate Investment Trust No and has 8 basement floors and 24 ground floors Hyundai Mobis is using the building as its headquarters and Nokia and San Ten Pharmaceutical Korea are also renting it KB Asset Management has been proposing to Hyundai Mobis to acquire SI Tower Hyundai Mobis positively considered the acquisition but decided not to take over at the last minute because the completion of the "Global Business Complex (GBC)" that Hyundai Motor Group will create near Gangnam and the lease period of SI Tower are expected to coincide SI Tower was completed in 1999 and was sold to Dutch financial company Rodamco shortly after the IMF financial crisis the owner has changed to KB Asset Management after ING [This article was reported on "Radar M" on April 11 (16:32)] According to the investment banking industry on the 11th Igis Asset Management recently selected Calliers Korea as the organizer of the sale of Signature Tower is a large office with a total floor area of 99,991 square meters Kumho Petrochemical Group is using it as its headquarters building and consists of 5 floors underground and 17 floors above the ground and 2 buildings Igis Asset Management acquired the asset from Shinhan Asset Management (formerly Shinhan BNP Paribas Asset Management) for about 720 billion won in 2017 the purchase was made using blind fund funds and SK D&D participated as major investors Considering the average sale price of the CBD office where the Signature Tower is located and the asset status the total sale price of the Signature Tower is estimated to be around KRW 1 trillion Domestic and foreign investors who prefer superior and stable office assets are reportedly interested in acquiring Signature Tower Solana and Dogecoin Holders Flock to This Little-Known Crypto That Could Skyrocket in 2025 Goldman Sachs Predicts India to be Top Emerging Market in 2025 © 2025 siliconindia.com All rights reserved.Accident Attorneys | Truck Accident Attorneys A large commercial office building located in the middle of Eulji-ro Igis Asset Management is considering selling 'Signature Tower' the headquarters of Kumho Petrochemical Group is a large office asset with a total floor area of 99,991 square meters It consists of five basement floors and 17 floors above ground and two buildings and is evaluated as a trophy asset (symbolic asset) near Euljiro and Kumho Petrochemical Group is currently using the building as its headquarters Igis Asset Management acquired the asset from Shinhan Asset Management (formerly Shinhan BNP Paribas Asset Management) for about KRW 720 billion in 2017 Igis Asset Management created a new lobby for Signature Tower in 2023 and recreated it as an asset in line with the recent trend Flight to Quality (preferred for luxury offices) is considered excellent in transportation accessibility "Nothing has been confirmed yet as we are considering selling it while looking at the market conditions." Domestic and foreign investors who prefer superior and stable office assets are expected to show interest in acquiring Signature Tower The IB industry believes that the total sale price of Signature Tower is likely to be in the early and mid KRW 1 trillion range considering that it is a trophy asset with excellent average office sales price and asset condition in the Seoul Metropolitan Area (CBD) where Signature Tower is located Signature Tower is considered a big fish in the domestic commercial real estate market this year Marston Investment Management is seeking to sell Doosan Tower which is owned through "Maston Specialized Investment Private Real Estate Investment Trust No Doosan Tower is considered an ultra-large office asset near Dongdaemun with 7 basement floors and 34 floors above ground and a total floor area of 122,630 square meters Doosan Tower has become the center of Dongdaemun Fashion in Seoul since its completion in 1998 and Doosan Group sold the asset to Marston Investment Management in 2020 to secure liquidity after it entered creditor management the transaction price reached 800 billion won and Doosan Group has used the building in a sale and leaseback (release after sale) Evison Young Korea and S1 (SI) will be in charge of the sale Other blue-chip office assets located in major areas of Seoul are also being sold companies that need office buildings often participate as SI (strategic investors) and jump into the acquisition of GBD offices Mirae Asset Asset Management and Pacific Asset Management which were recently selected as NC Tower's shortlist (recruitment candidates) participated in the bidding along with 111% of mobile game companies and the Science and Technology Mutual Aid Association LG’s services unit signs MoU with major APAC investment firm has signed an agreement with Igis Asset Management to develop data centers The South Korean IT company announced last week it had partnered with the investment firm to develop new businesses such as cloud data centers and urban logistics centers (including micro fulfillment centers the two companies said they will work to expand the construction of cloud data centers at home and abroad and expand new AI and cloud-based businesses The signing ceremony was attended by LG CNS CEO Hyun Shin-kyun cloud business division executive director Kim Tae-hoon LG's Hyun Shin-kyun said: “We will lead future business by combining LG CNS’ digital transformation capabilities with the investment expertise and know-how of Igis Asset Management Korea’s largest real estate asset management company.” Igis' Kang Young-gu added: “Based on strategic collaboration with LG CNS we will continue to create futuristic real estate and infrastructure such as data centers and logistics centers to maximize the utility value of assets.” LG and Igis will cooperate in the data center and cloud service space through LG CNS's digital transformation technology offerings and Igis Asset Management's investment assets The two companies said they are currently working together to build large-scale data centers in South Korea LG CNS was founded in 1987 and provides information technology services It launched South Korea’s first dedicated data center building – the Incheon Data Center – in 1992 Today it operates four locations including in Sangam The firm closed its second data center fund earlier this year Last year Canada Pension Plan Investment Board (CPP Investments) and Pacific Asset Management formed a new joint venture to develop a hypescale data center in Seoul the Jukjeon Data Centre will be operated by LG CNS The facility will span 99,070 square meters (1 million sq ft) and consist of four above-ground floors and four below-ground floors to provide commercial space for cloud service LG Uplus, LG’s telecoms unit, currently operates four colocation data centers — three in southern Seoul and one in Anyang, to the south of the capital. It broke ground on the 40,450 sqm (435,400 sq ft) Pyeongchon 2 Center in Seoul in June 2021 Data Centre Dynamics Ltd (DCD), 32-38 Saffron Hill, London, EC1N 8FH Email. [email protected]DCD is a subsidiary of InfraXmedia Coriving (shared housing) facilities located in Seogyo-dong which are frequently visited by people in their 20s and 30s According to the investment banking industry on the 26th Igis Asset Management recently selected Cushman & Wakefield Korea as an advisor for the sale of Nudit Hongik University It is a corribing asset invested in an indirect form by Easy Residence REITs a publicly traded REIT managed by Igis Asset Management It is adjacent to Hapjeong and Hongik University commercial districts where university students and foreigners are in high demand for rentals The building has three basement floors to seven floors above ground and a total floor area of 17,607㎡ with a total of 296 rooms for short and long-term guests and commercial facilities inside the building a corriving company with 23 branches nationwide is operating Nudit Hongdae as a responsible lease (masterless) structure until 2033 According to IR data released by Easy Residence REITs in October last year Nudit Hongik University's rental rate is 96% and LTV's (loan recognition ratio) is 75.5% Considering the operating value and market price in the future it is estimated that Nudit Hongik University will be sold at around KRW 100 billion to KRW 200 billion As the number of single-person households and elderly households increases institutional investors have begun to consider acquiring Coribing assets and Mangrove and ICG are known to have shown interest even when Nudit Hongik University was put up for sale we are positively reviewing Corribing assets mainly by foreign investors because the expected return on Corribing assets is higher than the return on office investment." Easy Residence REITs is a REIT that invests heavily in residential facilities and its portfolio includes The Shop Bupyeong the first store of the Corribing-run brand "Dears" developed by Igis Asset Management It has decided to pay dividends on profits from the sale of Deers Myeong-dong which gives shareholders a quarterly dividend of 150 won per share It is about 33% higher than the previous quarter's dividend (113 won) This website is using a security service to protect itself from online attacks The action you just performed triggered the security solution There are several actions that could trigger this block including submitting a certain word or phrase You can email the site owner to let them know you were blocked Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page LG Chem to sell water filter business to Glenwood PE for $692 million Mirae Asset to be named Korea Post’s core real estate fund operator Meritz backs half of ex-manager’s $210 mn hedge fund StockX in merger talks with Naver’s online reseller Kream KT&G eyes overseas M&A after rejecting activist fund's offer Macquarie Korea Asset Management confirms two nominees Macquarie seeks to sell off Korea’s tank terminal operator NPS commits $163 mn to Macquarie's sixth Korean buyout fund We use cookies to provide the best user experience Please review our Privacy Policy to learn our cookie policy TrendingDevelopmentNew YorkASouth Korea’s IGIS is lender on Extell’s 570 Fifth AveInternational real estate firm acquired $185M loan secured by Barnett supertall A South Korean real estate investment firm is the new lender on Extell Development’s proposed skyscraper at 570 Fifth Avenue in Midtown South Korea-based IGIS Asset Management recently acquired a $185 million loan on the property from JPMorgan Chase according to city records first reported by PincusCo The loan on the 13-parcel site at the corner of 46th Street in the Diamond District closed July 10 The parcels include 2-8 West 47th Street; 10 West 47th Street; 3 11 and 13 West 46th Street; 562 Fifth Avenue; 570 Fifth Avenue; 574 Fifth Avenue; 564 Fifth Avenue and 572 Fifth Avenue JPMorgan Chase most recently held the debt On 46th Street, Gary Barnett’s Extell filed permits in 2021 for an 1,100-foot supertall, complementing the firm’s nearby properties: the 500-foot International Gem Tower office building and a planned 534-key hotel along West 48th Street Two options were presented in the filings: a 1.5 million-square-foot residential and hotel tower with 1,524 hotel rooms and 468 apartments or an 860-foot-high building with 1.4 million square feet of office The project would also include about 77,000 square feet of retail and a 20,000-square-foot event space Demolition started at 570 Fifth this year, and construction is expected to take five years, according to New York Yimby Issues with signing in? Click here Need help signing in? While fundraising has become more difficult domestically the firm has seen growing interest from investors in Singapore and the Middle East PERE Seoul Forum PERE Tokyo Forum PERE Europe Forum 10 - 11 June 2025London Marriott Hotel Grosvenor Square London PERE America Forum PERE Asia Summit View all events > Your email address is already registered with us. Click here to receive a verification link and login. Don't have an account? Click here to register Please check your spam or junk folder just in case Hyundai Motor and Kia Vice President Kim Yong-wha head of IGIS Asset Management's real asset department Business Igis launches $100m secondary fund for overseas investment the largest real estate asset manager in South Korea has launched a secondary fund worth $100 million in an effort to widen its investment portfolio Igis has recently set up a private equity secondary commingled fund worth $100 million to invest in secondary blind funds managed by a global private equity firm The name of the UK-based private equity firm was not disclosed The $100 million investment deal also comes with secondary co-investment opportunities A private equity secondary investment refers to buying an existing limited partner interest or asset from of a private equity fund with discount investors can benefit from a faster return of capital compared to a direct investment Igis has formed another investment vehicle to participate in a secondary co-investment and secondary commingled fund managed by the private equity firm worth $100 million It is the first time for Igis to set up a secondary blind fund Amid a struggling commercial real estate market plagued by persistently high rates the firm hopes to broaden its investment banking portfolio expanding its presence in the secondary fund market The firm's portfolio was focused on alternative investments “The global private secondary fund market has grown at fast rate from $22 billion in 2010 to $120 billion in 2022 It is meaningful that Igis Asset Management has made into the secondary fund market,” an official from the firm said IGIS Asia is a private firm owned by IGIS Asset Management Korea’s largest real estate investment firm with around US$45 billion of assets under management as of December 2022 cell therapy and medical services in Korea and the US A group of lawyers is calling for a first-of-its-kind inquiry into whether New Zealand spy agencies are helping Israel's war in Gaza In a letter to the inspector-general of intelligence and security (IGIS) on Thursday they said the country was in danger of aiding international crimes Inspector-General Brendan Horsley confirmed he was considering the request Horsley has previously said he would look into conflict-related spying this year One of the three lawyers who made the call University of Auckland associate professor Treasa Dunworth said the IGIS was thorough and she thought he would appreciate their argument that Government Communications Security Bureau (GCSB) and Security Intelligence Service (NZSIS) intelligence might be making its way to Israel via the US "I'm actually very optimistic because our request is very It fit squarely with the inspector-general's mandate to launch inquiries as he saw fit Spy agencies say they collect intelligence in line with government priorities and also take human rights obligations seriously The letter to Horsley said: "We believe there is a plausible case that the intelligence-sharing actions of the GCSB and NZSIS breach New Zealand law as well as standards of propriety." they said it was an unprecedented call and a move that could bolster confidence in the spy agencies and in democratic functions "Even if intelligence is not being gathered and shared with Israel an inquiry may lift public confidence in the GCSB and NZSIS." Dunworth told RNZ on Thursday afternoon: "One of the big reasons why it's very appropriate that this inquiry happens is that we can't know... 'cause we don't have access to that classified information" The IGIS put out a short response: "This afternoon we received a request for the IGIS to commence an own motion inquiry into potential intelligence sharing with Israel in the context of the Gaza conflict The inspector-general is considering that request." Horsley earlier had said: "Given the conflicts under way in Ukraine I will be monitoring related intelligence activity in the coming year but he was not committed to undertaking any specific reviews The three letter-writers put out a 38-page document supporting their call concerned New Zealand was supporting internationally illegal operations Two United Nations inquiries recently found both sides in the war had committed war crimes The UN Commission of Inquiry said Israel's actions also constituted crimes against humanity because of the immense civilian losses New Zealand had a track record that put it at risk of supporting this They pointed to the country being part of the Five Eyes intelligence grouping with the US: "If the New Zealand intelligence and security agencies have produced intelligence relevant to the conflict it is plausible to suggest that this intelligence has made its way to Israeli agencies through the United States." They also said the New Zealand Defence Force was taking part in a US-led operation against Houthi attacks on Red Sea shipping the spy agencies might be helping them and the operation was partly about "the removal of barriers to Israel's ongoing actions in Gaza" There was outrage earlier this year when the IGIS revealed the GCSB had hosted a foreign spying operation controlled from abroad, very likely from the US, and with almost nil agency oversight, and without telling the public or Parliament, for several years up till 2020 The spy agencies told RNZ on Thursday they collected intelligence in accordance with government priorities including those in key areas of national security interest including cooperation with overseas public authorities must be in accordance with New Zealand law including all human rights obligations recognised by New Zealand law," they said in a statement "These are obligations which the agencies take very seriously and they must have effective policies and procedures in place to ensure they act in accordance with both domestic and international law." Sharing intel with authorities overseas was subject to ministerial policy statements and other internal policies "to ensure robust consideration of intelligence sharing" The agencies welcomed the IGIS' independent oversight and would "respond to any inquiries the IGIS makes" An internal UN report seen by the BBC has described widespread abuse of Palestinians who were captured and interrogated at makeshift Israeli detention centres A UN expert says war crimes have been committed by both Israel and Hamas fighters and he is reiterating calls for an immediate ceasefire in the conflict New Zealand will send a six-member Defence Force team to help protect shipping in the Red Sea from Houthi attacks The spy agency is refusing to release a copy of its deal with a foreign agency to run a secret operation out of this country World RSS Follow RNZ News