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Report: Korea Post to award 600B won in domestic real estate mandates

Korea Post is looking to award 600 billion won in mandates for real estate investments in South Korea, IPE Real Assets reported, citing an unnamed source.

The South Korea government-owned postal service reportedly issued requests for proposals from interested asset managers, and its investment council is scheduled to meet later in June to choose the successful bidders.

Korea Post is aiming to deploy 200 billion won each in core real estate, value-add real estate and logistics properties, according to the publication.

As of June 14, US$1 was equivalent to 1,084.10 South Korean won.