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[Apha Biz=(Chicago) Reporter Paul Lee] Hanjin KAL, the holding company of Hanjin Group, will sell the Korean Air building in Seosomun-dong, Jung-gu, Seoul to its affiliate Korean Air.
Hanjin KAL, the holding company of Hanjin Group, announced on the 3rd that it will sell the Korean Air building and part of the land in Seosomun-dong to Korean Air for 264.2 billion won. The sale date is four days.
Korean Air will purchase some of the buildings and land with 16 stories above ground and 4 stories below ground, except for the 14th floor used by Hanjin KAL. Korean Air decided to buy and sell the real estate at the board meeting on the 2nd and Hanjin KAL on the 3rd.
After its completion in 1984, the Korean Air building was owned by Korean Air and used as its headquarters building, but its ownership was transferred to Hanjin KAL when Hanjin KAL divided its personnel in 2013.
Korean Air moved its headquarters to Gonghang-dong, Gangseo-gu in 1997, but has since paid rent to Hanjin KAL and used 80% of the office building as a workspace for some department employees.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
