NH Investment & Securities said on the 10th that it signed a memorandum of understanding (MOU) for the development project of the Seongsu-dong site at its headquarters in Nonghyup Mokwoochon, Gangdong-gu, Seoul, on the 9th.
The MOU signing ceremony was attended by Byung-Woon Yoon, president of NH Investment & Securities; Jae-Wook Shin, head of the IB2 division at NH Investment & Securities; and Dae-Cheol Jo, CEO of Nonghyup Mokwoochon.
According to the agreement, the two companies will promote a development project for a complex business facility with retail and office spaces on approximately 3,530 square meters of land owned by Nonghyup Mokwoochon in Seongsu-dong, with the aim of completion in the second half of 2029.
NH Investment & Securities will be responsible for developing the site plans and providing expert advice on financing. The company will also participate in forming a project management (PM) consortium.
An NH Investment & Securities official noted, 'Since the project area is expected to be an expansion site for the Seongsu IT Industry Distribution Development District, we believe the business outlook is positive as it will have a trendy commercial area, making it a popular destination for young people.'