KAMCO Participates in Doosan Tower Acquisition Fund

[Asia Economy Reporter Park Sunmi] Korea Asset Management Corporation (KAMCO) will participate as a liquidity provider (LP) in the fund acquiring Doosan Tower.

According to the financial sector on the 6th, KAMCO decided at last month's board meeting to participate as an LP in the fund purchasing Doosan Tower, the representative building of Doosan Group, and to supply approximately 150 billion KRW.

Doosan announced on the 21st of last month that it had decided to sell Doosan Tower to Marston Asset Management, a real estate investment specialist, for 800 billion KRW to improve its financial structure.

The government is operating an asset sales program centered on KAMCO to enable companies struggling due to the COVID-19 pandemic to sell their assets at appropriate prices.

Meanwhile, KAMCO is currently conducting the second round of applications and submissions for the 'Corporate Asset Sales Support Program,' which closed its first round last August, starting from the 29th of last month.

In this second round of applications and submissions, new asset sales applications can be made, and existing applicant companies can also apply for additional sales support for other assets. Furthermore, assets that were notified as excluded from support in the first round can reapply during this submission period if the reasons for exclusion have been resolved or remedied. In such cases, support will be provided through re-examination considering the support effects.

This content was produced with the assistance of AI translation services.