Kamco Holds Completion Ceremony for Narakeum Busan Integrated Government Building

Approximately 88.9 Billion KRW Invested from National Property Management Fund
Completion of Integrated Office Building with 10 Above-Ground Floors and 4 Basement Levels

[Asia Economy Reporter Ki Ha-young] Korea Asset Management Corporation (KAMCO) announced on the 9th that it held a completion ceremony at the newly built 'Nara-Kium Busan Integrated Government Building' in Yeonje-gu, Busan Metropolitan City. About 50 officials, including Moon Seong-yu, President of KAMCO, and Lee Jong-wook, Director of the Treasury Bureau at the Ministry of Strategy and Finance, attended the event.

The Nara-Kium Busan Integrated Government Building is the first national land development project in the Busan area. KAMCO invested approximately 88.9 billion KRW from the National Property Management Fund into the existing old building, transforming it into a smart administrative and research facility with a total floor area of 36,629㎡, consisting of 10 floors above ground and 4 floors underground.

The newly constructed integrated government building has been occupied by the Busan Regional Food and Drug Administration, the Southeast Regional Statistics Office, and the Busan Office of the National Agricultural Products Quality Management Service as of last month.

KAMCO expects this national property development project to solve the workspace shortage issues of three government agencies in the Busan area, improve administrative efficiency, and contribute to revitalizing the local economy by enhancing the urban environment.

Moon Seong-yu, President of KAMCO, said, "With the completion of the Nara-Kium Busan Integrated Government Building, we hope to provide better administrative services to the public," adding, "KAMCO will continue to actively carry out public development projects to enhance the social and economic value of national property."

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