NH Investment & Securities Signs Business Agreement with Nonghyup Mokuchon for Seongsu-dong Site Development

by Song Hwajung

Published 10 Dec.2024 11:17(KST)

NH Investment & Securities announced on the 10th that it has signed a business agreement with Nonghyup Mokwoochon to promote the Seongsu-dong site development project.

Provided by NH Investment & Securities

NH Investment & Securities and Nonghyup Mokwoochon held the business agreement ceremony the day before, attended by Yoon Byung-woon, President of NH Investment & Securities, Shin Jae-wook, General Head of IB2 Business Division, and Cho Dae-cheol, CEO of Nonghyup Mokwoochon.

NH Investment & Securities plans to take responsibility for consulting on development plans and financial procurement to enhance the efficiency of the site development and will participate in the formation of a consultative body for overall project management (PM) of the development project. The development site is a 1,070-pyeong (approximately 3,535 square meters) property owned by Nonghyup Mokwoochon in Seongsu-dong, with plans to develop a mixed-use commercial and office facility targeting completion in the second half of 2029. The area is a planned expansion site of the Seongsu IT Industry Distribution Development Promotion District and is emerging as a new business district due to excellent urban mobility and accessibility. It has become a sacred place for the MZ generation (Millennials + Generation Z) and a retail commercial area through pop-up stores and flagship stores.

NH Investment & Securities and Nonghyup Mokwoochon plan to actively cooperate and support each other to ensure the smooth progress of the Seongsu-dong site development project. Yoon Byung-woon, President of NH Investment & Securities, said, "We will do our best to enhance the efficiency of the Seongsu-dong site development and provide consulting on financial procurement," adding, "We will continue to strive as a financial partner by carrying out the development of mixed-use office facilities and overall project management tasks."