This article was published on March 20, 2025, at 3:43 p.m. on the ChosunBiz MoneyMove site.
The Postal Savings Fund Management Committee, which is promoting the sale of its headquarters building located at Gongdeok Station in Seoul, has selected S-1 of the Samsung Group and the global commercial real estate service provider Jones Lang LaSalle (JLL) as its sale advisors.
According to sources in the investment banking (IB) industry on the 20th, the Postal Savings Fund Management Committee has selected S-1 and JLL as joint sale advisors for the headquarters building.
Although S-1 is known as a security company, it is also classified as a strong player in the real estate investment consulting sector. S-1 has recently handled sale consultations for the Hyundai Motor Securities building in Yeouido, the Doosan Tower in Dongdaemun, and the HANSSEM headquarters in Sangam. JLL is also managing the sales of the SI Tower, which is the headquarters of Hyundai Mobis, and the BNK Digital Tower.
The building that the Postal Savings Fund Management Committee is promoting for sale is an office building located in Mapo-gu, Seoul. In 2003, it purchased the former Hanshin Building for about 39 billion won to create a new revenue base and diversify its business structure, leasing it out and using a portion as its headquarters.
The building, completed in 1994, is a high-rise structure with 6 basement floors and 18 above-ground floors, covering a gross floor area of approximately 22,647 square meters. The lower floors are occupied by convenience facilities such as a bank, café, gym, and hospital, while medium floors are primarily leased to corporations including insurance companies and small airlines.
Industry sources consider this location near Gongdeok Station, where subway lines 5 and 6, the Gyeongui-Jungang Line, and the Airport Railroad intersect, as a key office in the Yeouido Business District (YBD). The market anticipates the price will be set in the early 20 million won range per 3.3 square meters, considering the local market prices and the structure of the office.
The Postal Savings Fund Management Committee has reportedly specified a sale price in the range of 100 billion won in the bidding proposal request. If the office sale is successful, it is expected to secure liquidity of approximately 80 billion to 90 billion won after covering various expenses.
The Postal Savings Fund Management Committee, along with government, military, and private school pensions, is one of the four major occupational pensions. As concerns about fund depletion have increased, it decided to sell its headquarters building. The Postal Savings Bank was established in 1961 to provide mail services to mountainous and remote island areas. It later introduced a pension system in 1982 for the welfare of its employees.