KSD Finds New Owner for Long-Unclaimed 'Ilsan Center'

[Asia Economy Reporter Oh Ju-yeon] The Ilsan Center of the Korea Securities Depository, which had remained unsold for a long time due to the lack of appropriate buyers over the past six years, was sold earlier this month.

On the 13th, the Korea Securities Depository announced that it had signed a sales contract for the Ilsan Center with DS Networks on the 8th. The sale price was 59.7 billion KRW, approximately 5 billion KRW higher than the expected sale price of about 54.7 billion KRW (about 109.1% of the expected sale price, excluding VAT).

▲Exterior view of Korea Securities Depository Ilsan Center

The property sold this time includes the land (6,928.4㎡) and building (22,976.54㎡) of the Ilsan Center located in Goyang-si, Gyeonggi-do. The building has 7 floors above ground and 5 basement levels, housing the Depository’s data center, automated vault, and Securities Museum.

Since 2014, the Depository had been promoting the public sale of the Ilsan Center a total of 25 times in response to the government’s policy to sell former metropolitan area real estate due to the relocation of public institutions to local areas, but the sale did not materialize due to the absence of suitable buyers.

Accordingly, after the inauguration of President Lee Myung-ho earlier this year, the Depository reinforced the dedicated sales organization (Ilsan Center Sales Promotion Task Force), strengthened internal consultative bodies, maintained frequent consultations with the government, and enhanced communication with related industries through various efforts.

As a result, the property was successfully auctioned at a high price in the 26th general competitive bidding. The sale was conducted through the Korea Asset Management Corporation’s public auction portal system (Onbid) via general competitive bidding.

The Depository stated, "Following the sale of the Ilsan Center, we are promoting the relocation of special facilities within the center and will continue to make every effort to provide stable services in the future."

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