[THE INVESTOR] LG Group is in talks with KORAMCO REITs Management and Trust over purchasing STX Namsan Tower near Seoul Station.

According to industry sources, KORAMCO is negotiating the sale of the 23-story building to LG Group. Details about the negotiations remain unknown, but the property is estimated to fetch about 300 billion won (US$260 million) for KORAMCO.

KORAMCO had selected Korea Investment Management as the preferred bidder in September, but the deal fell through when the latter failed to secure funds.

By Choi He-suk ()


koreaherald@heraldcorp.com