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

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.