Hyundai Asset Management Obtains Official Approval for REITs AMC License
Accelerating Full-Scale REITs Listing Process
[Asia Economy Reporter Kim Ji-hee] Hyundai Asset Management announced on the 2nd that it obtained approval from the Ministry of Land, Infrastructure and Transport on the 29th of last month to operate as a REITs (Real Estate Investment Trusts) Asset Management Company (AMC). Accordingly, Hyundai Asset Management is now able to establish and operate REITs.
The company plans to accelerate its efforts to list REITs in earnest going forward.
Since incorporating Mugunghwa Trust as a subsidiary in March, Hyundai Asset Management has undergone organizational restructuring and is expanding its business areas. The goal is to grow into a 'capital firm' encompassing traditional assets, domestic and international alternative investments, as well as REITs, development investments, corporate finance, private equity funds (PEF), and corporate restructuring.
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CEO Jung Wook said, "Various collaborations between business divisions using REITs will be possible in the future," adding, "This approval for the REITs AMC is significant in that it enables us to offer investors a wider range of investment products."
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