This article was posted on the ChosunBiz MoneyMove (MM) site at 3:36 p.m. on Jan. 21, 2026.
Samsung SRA Asset Management is starting the sale of Gangnam 358 Tower (formerly Samsung Life Insurance Yeoksam Building), located in a prime spot near Gangnam Station. The building was acquired in 2017 through the No. 1 core platform fund, in which the National Pension Service invested. With a continued preference for Gangnam-area offices, a prime office in the middle of Gangnam Station has come onto the market, drawing strong interest from buyers.
On the 21st, investment banking industry sources said Samsung SRA Asset Management selected global real estate consulting firms Colliers and Savills Korea as advisors for the sale of Gangnam 358 Tower and recently distributed an information memorandum (IM) to major domestic and foreign potential buyers.
Gangnam 358 Tower is a representative office in the Gangnam business district (GBD) located in front of exit 4 of Gangnam Station. It has seven basement levels and 20 aboveground floors and a total floor area of 32,658 square meters. In the Gangnam area it is regarded as a prime asset preferred by large institutional investors. Although it is an older office building completed in 1996, it underwent remodeling in the early 2010s and is situated near the high foot-traffic area around Gangnam Station, giving it significant locational advantages.
Currently Samsung Electronics, Samsung Electronics Sales, Samsung Life Insurance, Samsung Fire & Marine Insurance, Samsung Card and other Samsung group affiliates lease about 80% of the total area. A long-term lease structure centered on Samsung affiliates is in place, so vacancy risk is low and rental revenue is stable. The lower floors also have almost no vacancies thanks to the foot traffic around Gangnam Station.
Samsung SRA Asset Management purchased the asset from Samsung Life Insurance in 2017 for about 210 billion won. At that time it was invested through the No. 1 core platform fund to which the National Pension Service contributed 140 billion won. Industry observers say the sale appears to be a preemptive move ahead of the fund's maturity.
Because new office supply in the Gangnam area is limited and high-quality assets are scarce, the sale price is expected to exceed 400 billion won. Recently, the per-3.3-square-meter transaction price for Gangnam offices has topped 40 million won. In fact, in February last year 363 Gangnam Tower across Gangnam-daero traded for about 42 million won per pyeong. Samsung SRA Asset Management's purchase price for Gangnam 358 Tower was about 21 million won per pyeong.
An industry source said, "In addition to its core location near Gangnam Station, because Samsung affiliates lease most of the building, stable cash flow is likely to be a premium factor."