Park Han-sol reports on Korea's financial regulators, along with fintech and insurance. She previously wrote about the art world, from biennales and exhibitions to fairs and auctions, with a focus on Seoul and the figures shaping the scene. Before joining The Korea Times, she spent a year at ABC News' Seoul bureau, contributing to coverage of major Asia-Pacific events.
Hana Financial Group partners with Seobu T&D on Seoul logistics complex project
Hana Financial Group Chairman Ham Young-joo, right, and Seobu T&D CEO Seung Man-ho pose after signing a memorandum of understanding at Hana Securities' THE Centerfield W branch, Friday, to support financing for an urban high-tech logistics complex in Seoul. Courtesy of Hana Financial Group
By Park Han-sol
Hana Financial Group signed a memorandum of understanding (MOU) with real estate developer Seobu T&D to provide financing for an urban high-tech logistics complex in Seoul, the group said Sunday.
The agreement establishes a partnership covering project finance, corporate finance and co-investment for Seobu T&D’s planned mixed-use development in Seoul’s Yangcheon District.
The project will combine a smart logistics center with medical, commercial and cultural facilities as part of an urban high-tech complex.
Under the agreement, Hana Bank and Hana Securities will work to arrange project financing, analyze the project’s structure and develop financing solutions, while drawing on their combined corporate networks to provide a broader range of services.
“This partnership combines the strengths of the financial and real estate sectors to support the successful development of a large-scale urban logistics complex.” Hana Financial Group Chairman Ham Young-joo said. “We will serve as a trusted financial partner in building integrated infrastructure that brings together logistics, financial, medical, commercial and cultural facilities.”
In addition, Hana said it launched a 500 billion won ($324.46 million) growth infrastructure fund to invest in future-oriented infrastructure projects, including renewable energy and hydrogen, energy storage systems, environmentally friendly facilities, and artificial intelligence data and computing centers.